Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -2.74 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Trinet Group's Beneish M-Score or its related term are showing as below:
FRA:TN3'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.32 Med: -2.56 Max: -1.75
Current: -2.74
During the past 13 years, the highest Beneish M-Score of Trinet Group was -1.75. The lowest was -3.32. And the median was -2.56.
Trinet Group Beneish M-Score Related Terms
Trinet Group Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Trinet Group's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:TN3 vs MAN, NSP, RHI: Beneish M-Score Comparison
For the Staffing & Employment Services subindustry, Trinet Group's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Trinet Group Beneish M-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Trinet Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Trinet Group's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Trinet Group for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 0.9488
+
0.528 * 1.0046
+
0.404 * 1.0901
+
0.892 * 0.9046
+
0.115 * 1.3407
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9743
+
4.679 * -0.057523
-
0.327 * 0.9749
=
-2.79
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(79.005 / (79.005 + 28.675))
/
(62.734 / (62.734 + 51.9))
=
0.733702
/
0.547255
=
1.3407
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(137.178 - 0
-
307.348)
/
2958.3
=
-0.057523
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Trinet Group has a M-score of -2.79 suggests that the company is unlikely to be a manipulator.
Trinet Group (FRA:TN3) has a Beneish M-Score of -2.74 as of Jul. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Trinet Group and its competitors. According to the industry distribution chart, Trinet Group ranks #362 out of 1021 companies in the Business Services industry, placing it in the top 35.5%.
Is Trinet Group's Beneish M-Score too high?
Trinet Group's current Beneish M-Score is -2.74. Based on the distribution chart, Trinet Group ranks #362 out of 1021 companies in the Business Services industry, which is above the industry midpoint. Overall, Trinet Group has a GF Score™ of 72/100, reflecting its overall financial health beyond just this single metric.
How does Trinet Group's Beneish M-Score compare to MAN and NSP?
According to the Business Services industry distribution chart, Trinet Group ranks #362 out of 1021 companies for Beneish M-Score. This puts Trinet Group in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Business Services company?
A good Beneish M-Score depends on the Business Services industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Trinet Group and its competitors. Trinet Group's current Beneish M-Score is -2.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Trinet Group stock overvalued right now?
Trinet Group (FRA:TN3) has a current Beneish M-Score of -2.74. The stock's GF Value™ is €83.72, compared to a current price of €52.50 — trading 37.3% below its estimated fair value. The current Beneish M-Score is -2.74. Trinet Group's overall GF Score™ is 72/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Trinet Group (FRA:TN3), the current Beneish M-Score is -2.74 as of Jul. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Trinet Group (FRA:TN3) Overvalued in 2026?
Based on GuruFocus' analysis, Trinet Group stock appears to be undervalued.
The current stock price of €52.50 is trading 37.3% below its estimated GF Value™ of €83.72.
Key valuation signals for FRA:TN3:
Beneish M-Score: -2.74
GF Value™: €83.72 vs. price of €52.50 (37.3% below fair value)
No single metric tells the full story. See the FRA:TN3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Trinet Group Inc provides human resources solutions for small and medium-sized businesses through technology-enabled services. Its offerings include human capital expertise, employee benefits such as health insurance and retirement plans, payroll and payroll tax administration, risk mitigation, and compliance consulting. The company provides its services through professional employer organization (PEO) services delivered via a co-employment model, as well as administrative services organization (ASO) offerings. The majority of the company's revenue is derived from the insurance-related billings and administrative fees collected from PEO clients.
72GF Score
Get the complete analysis for FRA:TN3
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:TN3 has been successfully added to your 
