LBTYB (Liberty Global) Beneish M-Score: -2.84 (As of Jun. 25, 2026)


LBTYB Liberty Global Ltd LBTYB
65 GF Score
Price $13.20
GF Value $14.73
Valuation Modestly Undervalued
! 6 Warning Signs
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What is Liberty Global Beneish M-Score?

Liberty Global LBTYB +0.76% 65 Beneish M-Score is -2.84 as of Jun. 25, 2026. GuruFocus rates LBTYB with a GF Score™ of 65/100 and a GF Value™ of $14.73 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 355 Telecommunication Services companies, Liberty Global ranks better than 53.8% 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 -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LBTYB' s Beneish M-Score Range Over the Past 10 Years
Min: -3.67   Med: -2.69   Max: 0.07
Current: -2.84

During the past 13 years, the highest Beneish M-Score of Liberty Global was 0.07. The lowest was -3.67. And the median was -2.69.

Liberty Global Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Liberty Global'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.

Liberty Global Beneish M-Score Chart

Liberty Global Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.13 -2.07 -3.24 -3.01 -2.64

Liberty Global Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -3.11 -2.65 -1.95 -2.64 -2.84

LBTYB vs AD, TDS, LBRDA: Beneish M-Score Comparison

For the Telecom Services subindustry, Liberty Global'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.

Liberty Global Beneish M-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Liberty Global's Beneish M-Score distribution charts can be found below:

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


LBTYB
65GF Score
Liberty Global Ltd LBTYB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Liberty Global 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 Liberty Global 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 * 0.9599+0.528 * 1.015+0.404 * 0.8213+0.892 * 1.1267+0.115 * 1.2132
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9457+4.679 * -0.079469-0.327 * 1.0935
=-2.84

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $523 Mil.
Revenue was 1274.6 + 1231.1 + 1207.1 + 1269.1 = $4,982 Mil.
Gross Profit was 848 + 822.2 + 814.2 + 803.8 = $3,288 Mil.
Total Current Assets was $3,114 Mil.
Total Assets was $21,878 Mil.
Property, Plant and Equipment(Net PPE) was $6,127 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,072 Mil.
Selling, General, & Admin. Expense(SGA) was $1,255 Mil.
Total Current Liabilities was $2,810 Mil.
Long-Term Debt & Capital Lease Obligation was $8,455 Mil.
Net Income was 337.8 + -2917.2 + -90.7 + -2792.9 = $-5,463 Mil.
Non Operating Income was 582.7 + -2737.4 + -41.5 + -2717.7 = $-4,914 Mil.
Cash Flow from Operations was 107.6 + 630.9 + 301.8 + 149.2 = $1,190 Mil.
 Total Receivables was $484 Mil.
Revenue was 1171.2 + 1123.2 + 1069.5 + 1057.9 = $4,422 Mil.
Gross Profit was 767.8 + 723.8 + 749.1 + 721.5 = $2,962 Mil.
Total Current Assets was $3,117 Mil.
Total Assets was $25,971 Mil.
Property, Plant and Equipment(Net PPE) was $4,590 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,012 Mil.
Selling, General, & Admin. Expense(SGA) was $1,177 Mil.
Total Current Liabilities was $3,288 Mil.
Long-Term Debt & Capital Lease Obligation was $8,940 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)
=(523.2 / 4981.9) / (483.8 / 4421.8)
=0.10502 / 0.109412
=0.9599

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)
=(2962.2 / 4421.8) / (3288.2 / 4981.9)
=0.669908 / 0.660029
=1.015

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 - (3113.6 + 6127.2) / 21877.7) / (1 - (3116.5 + 4589.7) / 25970.6)
=0.577616 / 0.703272
=0.8213

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
=4981.9 / 4421.8
=1.1267

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))
=(1011.5 / (1011.5 + 4589.7)) / (1071.5 / (1071.5 + 6127.2))
=0.180586 / 0.148846
=1.2132

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)
=(1254.5 / 4981.9) / (1177.4 / 4421.8)
=0.251812 / 0.266272
=0.9457

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)
=((8454.6 + 2809.8) / 21877.7) / ((8940.3 + 3288.2) / 25970.6)
=0.51488 / 0.470859
=1.0935

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
=(-5463 - -4913.9 - 1189.5) / 21877.7
=-0.079469

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.

Liberty Global has a M-score of -2.84 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.84 mean?
Liberty Global (LBTYB) has a Beneish M-Score of -2.84 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Liberty Global and its competitors. According to the industry distribution chart, Liberty Global ranks #164 out of 355 companies in the Telecommunication Services industry, placing it in the top 46.2%.
Is Liberty Global's Beneish M-Score too high?
Liberty Global's current Beneish M-Score is -2.84. Based on the distribution chart, Liberty Global ranks #164 out of 355 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Liberty Global has a GF Score™ of 65/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Liberty Global's Beneish M-Score compare to AD and TDS?
According to the Telecommunication Services industry distribution chart, Liberty Global ranks #164 out of 355 companies for Beneish M-Score. This puts Liberty Global 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 Telecommunication Services company?
A good Beneish M-Score depends on the Telecommunication 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 Liberty Global and its competitors. Liberty Global's current Beneish M-Score is -2.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Liberty Global stock overvalued right now?
Based on GuruFocus' analysis, Liberty Global (LBTYB) is currently considered Modestly Undervalued. The stock's GF Value™ is $14.73, compared to a current price of $13.20 — trading 10.4% below its estimated fair value. The current Beneish M-Score is -2.84. Liberty Global's overall GF Score™ is 65/100 with 6 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 Liberty Global (LBTYB), the current Beneish M-Score is -2.84 as of Jun. 25, 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 Liberty Global (LBTYB) Overvalued in 2026?

Based on GuruFocus' analysis, Liberty Global stock appears to be undervalued. The current stock price of $13.20 is trading 10.4% below its estimated GF Value™ of $14.73. GuruFocus considers Liberty Global to be Modestly Undervalued.

Key valuation signals for LBTYB:

  • Beneish M-Score: -2.84
  • GF Value™: $14.73 vs. price of $13.20 (10.4% below fair value)
  • GF Score™: 65/100 with 6 warning signs

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

Liberty Global Business Description

Other Exchanges LBTYK:USALBTYA:USA
Address 2 Church Street, Clarendon House, Hamilton, BMU, HM 11
Liberty Global is a holding company with interests in European telecom companies in the UK, the Netherlands, Belgium, Ireland, and Slovakia. Liberty owns the main cable network in each of these geographies and has pursued a strategy since 2016 to merge or partner with mobile network operators to be able to offer converged services. Liberty also owns minority stakes in other media, entertainment, and cloud companies.
65GF Score

Get the complete analysis for LBTYB

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

$13.20
Price
$14.73
GF Value