CropEnergies AGHAM:CE2 45 Beneish M-Score is -2.75 as of Jun. 26, 2026. GuruFocus rates HAM:CE2 with a GF Score™ of 45/100. The stock has 5 warning signs investors should review. Among 1,530 Chemicals companies, CropEnergies AG ranks better than 71.63% 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.
Good Sign:
Beneish M-Score -2.75 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for CropEnergies AG's Beneish M-Score or its related term are showing as below:
HAM:CE2'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.65 Med: -2.25 Max: 281.99
Current: -2.75
During the past 13 years, the highest Beneish M-Score of CropEnergies AG was 281.99. The lowest was -3.65. And the median was -2.25.
CropEnergies AG Beneish M-Score Related Terms
CropEnergies AG Beneish M-Score Historical Data
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The historical data trend for CropEnergies AG'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.
HAM:CE2 vs LIN, SHW, ECL: Beneish M-Score Comparison
For the Specialty Chemicals subindustry, CropEnergies AG'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.
CropEnergies AG Beneish M-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, CropEnergies AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CropEnergies AG'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 CropEnergies AG 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 * 0.7615
+
0.528 * 1
+
0.404 * 1.146
+
0.892 * 0.9363
+
0.115 * 0.9896
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.2351
+
4.679 * -0.045364
-
0.327 * 0.9113
=
-2.75
* 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))
=
(0.038 / (0.038 + 0.022))
/
(0.016 / (0.016 + 0.009))
=
0.633333
/
0.64
=
0.9896
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
=
(-34.353 - 0
-
0)
/
757.268
=
-0.045364
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.
CropEnergies AG has a M-score of -2.75 suggests that the company is unlikely to be a manipulator.
CropEnergies AG (HAM:CE2) has a Beneish M-Score of -2.75 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CropEnergies AG and its competitors. According to the industry distribution chart, CropEnergies AG ranks #434 out of 1530 companies in the Chemicals industry, placing it in the top 28.4%.
Is CropEnergies AG's Beneish M-Score too high?
CropEnergies AG's current Beneish M-Score is -2.75. Based on the distribution chart, CropEnergies AG ranks #434 out of 1530 companies in the Chemicals industry, which is above the industry midpoint. Overall, CropEnergies AG has a GF Score™ of 45/100, reflecting its overall financial health beyond just this single metric.
How does CropEnergies AG's Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, CropEnergies AG ranks #434 out of 1530 companies for Beneish M-Score. This puts CropEnergies AG 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 CropEnergies AG and its competitors. CropEnergies AG's current Beneish M-Score is -2.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CropEnergies AG stock overvalued right now?
CropEnergies AG (HAM:CE2) has a current Beneish M-Score of -2.75. The current Beneish M-Score is -2.75. CropEnergies AG's overall GF Score™ is 45/100 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 CropEnergies AG (HAM:CE2), the current Beneish M-Score is -2.75 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.
CropEnergies AG is a German company which manufactures bioethanol for the fuel sector from cereals and sugar beet. The company also produces various food and animal feed products such as ProtiWanze, a liquid protein animal feed for feeding ruminants and pigs, as well as a high-grade dry stillage protein animal feed. In addition, it produces neutral alcohol for the beverage, food, cosmetics and pharmaceutical industries, as well as for industrial applications, such as the production of windscreen washer fluid and disinfectants.
45GF Score
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