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Iveco Group NVIVCGF 69 Beneish M-Score is -2.14 as of Aug. 09, 2026. GuruFocus rates IVCGF with a GF Score™ of 69/100 and a GF Value™ of $14.46 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 206 Farm & Heavy Construction Machinery companies, Iveco Group NV ranks worse than 73.3% 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 -2.14 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Iveco Group NV's Beneish M-Score or its related term are showing as below:
IVCGF'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.05 Med: -2.63 Max: -2.14
Current: -2.14
During the past 8 years, the highest Beneish M-Score of Iveco Group NV was -2.14. The lowest was -3.05. And the median was -2.63.
The historical data trend for Iveco Group NV'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.
IVCGF vs CAT, DE, PCAR: Beneish M-Score Comparison
For the Farm & Heavy Construction Machinery subindustry, Iveco Group NV'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.
Iveco Group NV Beneish M-Score vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Iveco Group NV's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Iveco Group NV'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 Iveco Group NV 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 * 0.9673
+
0.528 * 1.1794
+
0.404 * 1.0931
+
0.892 * 1.0336
+
0.115 * 0.9469
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9863
+
4.679 * 0.052061
-
0.327 * 1.1238
=
-2.15
* 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))
=
(790.173 / (790.173 + 3666.667))
/
(828.315 / (828.315 + 3595.622))
=
0.177294
/
0.187235
=
0.9469
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
=
(1565.114 - 0
-
499.666)
/
20465.438
=
0.052061
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.
Iveco Group NV has a M-score of -2.15 suggests that the company is unlikely to be a manipulator.
Iveco Group NV (IVCGF) has a Beneish M-Score of -2.14 as of Aug. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Iveco Group NV and its competitors. According to the industry distribution chart, Iveco Group NV ranks #151 out of 206 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 73.3%.
Is Iveco Group NV's Beneish M-Score too high?
Iveco Group NV's current Beneish M-Score is -2.14. Based on the distribution chart, Iveco Group NV ranks #151 out of 206 companies in the Farm & Heavy Construction Machinery industry, which is below the industry midpoint. Overall, Iveco Group NV has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Iveco Group NV's Beneish M-Score compare to CAT and DE?
According to the Farm & Heavy Construction Machinery industry distribution chart, Iveco Group NV ranks #151 out of 206 companies for Beneish M-Score. This places Iveco Group NV 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 Farm & Heavy Construction Machinery company?
A good Beneish M-Score depends on the Farm & Heavy Construction Machinery 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 Iveco Group NV and its competitors. Iveco Group NV's current Beneish M-Score is -2.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Iveco Group NV stock overvalued right now?
Based on GuruFocus' analysis, Iveco Group NV (IVCGF) is currently considered Modestly Overvalued. The stock's GF Value™ is $14.46, compared to a current price of $16.00 — trading 10.7% above its estimated fair value. The current Beneish M-Score is -2.14. Iveco Group NV's overall GF Score™ is 69/100 with 4 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 Iveco Group NV (IVCGF), the current Beneish M-Score is -2.14 as of Aug. 09, 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 Iveco Group NV (IVCGF) Overvalued in 2026?
Based on GuruFocus' analysis, Iveco Group NV stock appears to be overvalued.
The current stock price of $16.00 is trading 10.7% above its estimated GF Value™ of $14.46.
GuruFocus considers Iveco Group NV to be Modestly Overvalued.
Key valuation signals for IVCGF:
Beneish M-Score: -2.14
GF Value™: $14.46 vs. price of $16.00 (10.7% above fair value)
No single metric tells the full story. See the IVCGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Iveco Group NV is engaged in the design, production, marketing, sale, servicing, and financing of trucks, commercial vehicles, buses, and specialty vehicles for firefighting, defense, and other uses, as well as combustion engines, alternative propulsion systems, transmissions, and axles. The group has four operating segments: Truck, Bus, Powertrain, and Financial Services. The majority of revenue is generated from the Truck segment which designs, manufactures, and distributes a full range of light, medium, and heavy vehicles for the transportation and distribution of goods under the IVECO brand. Geographically, the majority of revenue is generated from Europe.
69GF Score
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