Magnera (FRA:W2B) Beneish M-Score: -0.87 (As of Jun. 26, 2026)


FRA:W2B Magnera Corp FRA:W2B
47 GF Score
Price €10.90
GF Value €4.81
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Magnera Beneish M-Score?

Magnera FRA:W2B +3.81% 47 Beneish M-Score is -0.87 as of Jun. 26, 2026. GuruFocus rates FRA:W2B with a GF Score™ of 47/100 and a GF Value™ of €4.81 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, Magnera ranks worse than 92.05% on this metric.

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.

Warning Sign:

Beneish M-Score -0.87 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Magnera's Beneish M-Score or its related term are showing as below:

FRA:W2B' s Beneish M-Score Range Over the Past 10 Years
Min: -3.13   Med: -2.51   Max: -0.87
Current: -0.87

During the past 13 years, the highest Beneish M-Score of Magnera was -0.87. The lowest was -3.13. And the median was -2.51.


Magnera Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Magnera'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.

Magnera Beneish M-Score Chart

Magnera Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Sep25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.74 -2.29 -2.17 -2.61 -0.87

Magnera Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.70 -0.87 -1.21 -0.94 -0.87

FRA:W2B vs HNST, NUS, HELE: Beneish M-Score Comparison

For the Household & Personal Products subindustry, Magnera'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.


Magnera Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Magnera's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Magnera's Beneish M-Score falls into.


FRA:W2B
47GF Score
Magnera Corp FRA:W2B
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Magnera Beneish M-Score Calculation

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 Magnera 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 * 1.1921+0.528 * 1.0003+0.404 * 1.4521+0.892 * 2.3954+0.115 * 0.7862
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6285+4.679 * -0.035996-0.327 * 0.8522
=-0.96

* 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.

This Year (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was €445 Mil.
Revenue was 714.828 + 727.413 + 762.2 + 670.41 = €2,875 Mil.
Gross Profit was 74.976 + 78.03 + 81.4 + 67.805 = €302 Mil.
Total Current Assets was €1,212 Mil.
Total Assets was €3,399 Mil.
Property, Plant and Equipment(Net PPE) was €1,258 Mil.
Depreciation, Depletion and Amortization(DDA) was €162 Mil.
Selling, General, & Admin. Expense(SGA) was €171 Mil.
Total Current Liabilities was €2,175 Mil.
Long-Term Debt & Capital Lease Obligation was €0 Mil.
Net Income was -34.08 + -15.606 + -37.925 + -57.3 = €-145 Mil.
Non Operating Income was -20.448 + -12.138 + -25.9 + -50.615 = €-109 Mil.
Cash Flow from Operations was 81.792 + 0 + 60.125 + -55.39 = €87 Mil.
Total Receivables was €156 Mil.
Revenue was 299.223 + 306.053 + 301.076 + 293.79 = €1,200 Mil.
Gross Profit was 31.968 + 34.175 + 31.749 + 28.311 = €126 Mil.
Total Current Assets was €528 Mil.
Total Assets was €1,371 Mil.
Property, Plant and Equipment(Net PPE) was €585 Mil.
Depreciation, Depletion and Amortization(DDA) was €58 Mil.
Selling, General, & Admin. Expense(SGA) was €113 Mil.
Total Current Liabilities was €237 Mil.
Long-Term Debt & Capital Lease Obligation was €793 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(444.744 / 2874.851) / (155.741 / 1200.142)
=0.154702 / 0.129769
=1.1921

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(126.203 / 1200.142) / (302.211 / 2874.851)
=0.105157 / 0.105122
=1.0003

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (1212.396 + 1257.552) / 3398.628) / (1 - (528.043 + 584.946) / 1370.982)
=0.273251 / 0.188181
=1.4521

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

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.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=2874.851 / 1200.142
=2.3954

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

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))
=(57.732 / (57.732 + 584.946)) / (162.219 / (162.219 + 1257.552))
=0.08983 / 0.114257
=0.7862

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

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(170.593 / 2874.851) / (113.31 / 1200.142)
=0.05934 / 0.094414
=0.6285

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((0 + 2175.156) / 3398.628) / ((792.865 + 236.779) / 1370.982)
=0.64001 / 0.751027
=0.8522

8. TATA = Total Accruals to Total Assets

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
=(-144.911 - -109.101 - 86.527) / 3398.628
=-0.035996

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.

Magnera has a M-score of -0.96 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -0.87 mean?
Magnera (FRA:W2B) has a Beneish M-Score of -0.87 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Magnera and its competitors. According to the industry distribution chart, Magnera ranks #1702 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 92%.
Is Magnera's Beneish M-Score too high?
Magnera's current Beneish M-Score is -0.87. Based on the distribution chart, Magnera ranks #1702 out of 1849 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Magnera has a GF Score™ of 47/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Magnera's Beneish M-Score compare to HNST and NUS?
According to the Consumer Packaged Goods industry distribution chart, Magnera ranks #1702 out of 1849 companies for Beneish M-Score. This places Magnera in the lower 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Magnera and its competitors. Magnera's current Beneish M-Score is -0.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Magnera stock overvalued right now?
Based on GuruFocus' analysis, Magnera (FRA:W2B) is currently considered Significantly Overvalued. The stock's GF Value™ is €4.81, compared to a current price of €10.90 — trading 126.6% above its estimated fair value. The current Beneish M-Score is -0.87. Magnera's overall GF Score™ is 47/100 with 8 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 Magnera (FRA:W2B), the current Beneish M-Score is -0.87 as of Jun. 26, 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 Magnera (FRA:W2B) Overvalued in 2026?

Based on GuruFocus' analysis, Magnera stock appears to be overvalued. The current stock price of €10.90 is trading 126.6% above its estimated GF Value™ of €4.81. GuruFocus considers Magnera to be Significantly Overvalued.

Key valuation signals for FRA:W2B:

  • Beneish M-Score: -0.87
  • GF Value™: €4.81 vs. price of €10.90 (126.6% above fair value)
  • GF Score™: 47/100 with 8 warning signs

No single metric tells the full story. See the FRA:W2B stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Magnera Business Description

Other Exchanges MAGN:USA
Address 9335 Harris Corners parkway, Suite 300, Charlotte, NC, USA, 28269
Magnera Corp is a supplier of a diverse portfolio of specialty materials comprised of organic and synthetic raw ingredients. The company markets its own products predominantly into stable, consumer-oriented end markets, including wipes, healthcare, adult incontinence, apparel, baby, feminine care, air filtration, and food and beverage, for disposable and durable applications. It also provides technical solutions in infrastructure markets. The company's operations are organized into two operating and reportable segments: Americas and Rest of World. It derives the majority of its revenue from the Americas, which manufactures products and components of personal care, including medical garments, wipes, dryer sheets, filtration, baby diapers and adult incontinence.
47GF Score

Get the complete analysis for FRA:W2B

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€10.90
Price
€4.81
GF Value