Marshall Monteagle (JSE:MMP) Beneish M-Score: -1.28 (As of Jul. 08, 2026)

What is Marshall Monteagle Beneish M-Score?

Marshall Monteagle JSE:MMP -2.00% 65 Beneish M-Score is -1.28 as of Jul. 08, 2026. GuruFocus rates JSE:MMP with a GF Score™ of 65/100 and a GF Value™ of R26.96 (Fairly Valued). The stock has 4 warning signs investors should review. Among 151 Industrial Distribution companies, Marshall Monteagle ranks worse than 94.7% 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 -1.28 higher than -1.78, which implies that the company might have manipulated its financial results.

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

JSE:MMP' s Beneish M-Score Range Over the Past 10 Years
Min: -3.07 Med: -2.03 Max: -0.39
Current: -1.28

During the past 13 years, the highest Beneish M-Score of Marshall Monteagle was -0.39. The lowest was -3.07. And the median was -2.03.

Marshall Monteagle Beneish M-Score Related Terms

Marshall Monteagle Beneish M-Score Historical Data

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The historical data trend for Marshall Monteagle'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.

Marshall Monteagle Beneish M-Score Chart

Marshall Monteagle Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-2.06

-2.54

-2.03

-0.39

-1.28

Marshall Monteagle Semi-Annual Data
	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.03	0.00	-0.39	0.00	-1.28

JSE:MMP vs GWW, FAST, FERG: Beneish M-Score Comparison

For the Industrial Distribution subindustry, Marshall Monteagle'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.

Marshall Monteagle Beneish M-Score vs Industrial Distribution Industry

For the Industrial Distribution industry and Industrials sector, Marshall Monteagle's Beneish M-Score distribution charts can be found below:

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

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65GF Score

Marshall Monteagle PLC JSE:MMP

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Marshall Monteagle 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 Marshall Monteagle for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.2341

0.528 * 1.0468

0.404 * 1.0689

0.892 * 1.0876

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1412

4.679 * 0.175178

0.327 * 0.8074

-1.28

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was R432 Mil.
Revenue was R1,609 Mil.
Gross Profit was R191 Mil.
Total Current Assets was R1,159 Mil.
Total Assets was R2,102 Mil.
Property, Plant and Equipment(Net PPE) was R21 Mil.
Depreciation, Depletion and Amortization(DDA) was R0 Mil.
Selling, General, & Admin. Expense(SGA) was R135 Mil.
Total Current Liabilities was R247 Mil.
Long-Term Debt & Capital Lease Obligation was R0 Mil.
Net Income was R176 Mil.
Gross Profit was R0 Mil.
Cash Flow from Operations was R-192 Mil.

Total Receivables was R322 Mil.
Revenue was R1,479 Mil.
Gross Profit was R184 Mil.
Total Current Assets was R1,099 Mil.
Total Assets was R1,901 Mil.
Property, Plant and Equipment(Net PPE) was R22 Mil.
Depreciation, Depletion and Amortization(DDA) was R0 Mil.
Selling, General, & Admin. Expense(SGA) was R109 Mil.
Total Current Liabilities was R277 Mil.
Long-Term Debt & Capital Lease Obligation was R0 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)
	=	(432.185 / 1608.88)	/	(321.987 / 1479.297)
	=	0.268625	/	0.217662
	=	1.2341

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)
	=	(184.152 / 1479.297)	/	(191.328 / 1608.88)
	=	0.124486	/	0.11892
	=	1.0468

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 - (1159.025 + 21.188) / 2102.066)	/	(1 - (1098.592 + 22.245) / 1900.602)
	=	0.438546	/	0.410273
	=	1.0689

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
	=	1608.88	/	1479.297
	=	1.0876

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))
	=	(0.457 / (0.457 + 22.245))	/	(0 / (0 + 21.188))
	=	0.02013	/	0
	=	1

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)
	=	(135.218 / 1608.88)	/	(108.942 / 1479.297)
	=	0.084045	/	0.073644
	=	1.1412

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 + 247.154) / 2102.066)	/	((0 + 276.767) / 1900.602)
	=	0.117577	/	0.145621
	=	0.8074

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
	=	(176.053 - 0	-	-192.183)	/	2102.066
	=	0.175178

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.

Marshall Monteagle has a M-score of -1.28 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 -1.28 mean?

Marshall Monteagle (JSE:MMP) has a Beneish M-Score of -1.28 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Marshall Monteagle and its competitors. According to the industry distribution chart, Marshall Monteagle ranks #143 out of 151 companies in the Industrial Distribution industry, placing it in the top 94.7%.

Is Marshall Monteagle's Beneish M-Score too high?

Marshall Monteagle's current Beneish M-Score is -1.28. Based on the distribution chart, Marshall Monteagle ranks #143 out of 151 companies in the Industrial Distribution industry, which is in the bottom quartile relative to peers. Overall, Marshall Monteagle has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Marshall Monteagle's Beneish M-Score compare to GWW and FAST?

According to the Industrial Distribution industry distribution chart, Marshall Monteagle ranks #143 out of 151 companies for Beneish M-Score. This places Marshall Monteagle 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 an Industrial Distribution company?

A good Beneish M-Score depends on the Industrial Distribution 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 Marshall Monteagle and its competitors. Marshall Monteagle's current Beneish M-Score is -1.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Marshall Monteagle stock overvalued right now?

Based on GuruFocus' analysis, Marshall Monteagle (JSE:MMP) is currently considered Fairly Valued. The stock's GF Value™ is R26.96, compared to a current price of R27.00 — trading 0.1% above its estimated fair value. The current Beneish M-Score is -1.28. Marshall Monteagle's overall GF Score™ is 65/100 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 Marshall Monteagle (JSE:MMP), the current Beneish M-Score is -1.28 as of Jul. 08, 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 Marshall Monteagle (JSE:MMP) Overvalued in 2026?

Based on GuruFocus' analysis, Marshall Monteagle stock appears to be overvalued. The current stock price of R27.00 is trading 0.1% above its estimated GF Value™ of R26.96. GuruFocus considers Marshall Monteagle to be Fairly Valued.

Key valuation signals for JSE:MMP:

Beneish M-Score: -1.28
GF Value™: R26.96 vs. price of R27.00 (0.1% above fair value)
GF Score™: 65/100 with 4 warning signs

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

Marshall Monteagle Business Description

Industry Industrials Industrial Distribution

Comparable Companies JSE:IVT JSE:HDC GWW FAST FERG WCC WSO TSX:TIH QXO LSE:DPLM AIT OSTO:ADDT B CNM TSX:FTT POOL OSTO:INDT OSTO:BEIJ B ASX:REH MSM XMTR

Address 66-72 Esplanade, 2nd Floor, Gaspe House, Saint Helier, JEY, JE1 1GH

Website https://www.monteaglegroup.com

Marshall Monteagle PLC operates trading businesses involved in the importation and distribution of hand tools, machinery and non-perishable food products, coffee roasting, importing and exporting and trading in metals and minerals. It is also involved in the property business. The company generates the majority of its revenue from the Import and distribution segment, which is engaged in Trade in non-perishable products, such as food, food ingredients, household consumer products, metal and minerals, manufacturing inputs, and tools; majorly imports to South Africa and Latin America, and exports from South Africa.

65GF Score

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

R27.00

Price

R26.96

GF Value

View JSE:MMP Analysis

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