LightLGSXY 40 Beneish M-Score is -1.53 as of Jun. 27, 2026. GuruFocus rates LGSXY with a GF Score™ of 40/100 and a GF Value™ of $0.83 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 390 Utilities - Independent Power Producers companies, Light ranks worse than 85.38% 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 -1.53 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Light's Beneish M-Score or its related term are showing as below:
LGSXY'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.24 Med: -2.48 Max: -1.53
Current: -1.53
During the past 13 years, the highest Beneish M-Score of Light was -1.53. The lowest was -4.24. And the median was -2.48.
Light Beneish M-Score Related Terms
Light Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Light'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.
For the Utilities - Renewable subindustry, Light'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.
Light Beneish M-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Light's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Light'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 Light 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 * 1.0134
+
0.528 * 1.6463
+
0.404 * 1.2299
+
0.892 * 1.0502
+
0.115 * 1.042
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8886
+
4.679 * 0.112624
-
0.327 * 0.9895
=
-1.43
* 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))
=
(158.373 / (158.373 + 398.031))
/
(173.482 / (173.482 + 461.618))
=
0.284637
/
0.273157
=
1.042
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
=
(501.98 - 0
-
-107.127)
/
5408.301
=
0.112624
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.
Light has a M-score of -1.43 signals that the company is likely to be a manipulator.
Light (LGSXY) has a Beneish M-Score of -1.53 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Light and its competitors. According to the industry distribution chart, Light ranks #333 out of 390 companies in the Utilities - Independent Power Producers industry, placing it in the top 85.4%.
Is Light's Beneish M-Score too high?
Light's current Beneish M-Score is -1.53. Based on the distribution chart, Light ranks #333 out of 390 companies in the Utilities - Independent Power Producers industry, which is in the bottom quartile relative to peers. Overall, Light has a GF Score™ of 40/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Light's Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Light ranks #333 out of 390 companies for Beneish M-Score. This places Light 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 Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Light and its competitors. Light's current Beneish M-Score is -1.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Light stock overvalued right now?
Based on GuruFocus' analysis, Light (LGSXY) is currently considered Possible Value Trap. The stock's GF Value™ is $0.83, compared to a current price of $0.45 — trading 45.8% below its estimated fair value. The current Beneish M-Score is -1.53. Light's overall GF Score™ is 40/100 with 7 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 Light (LGSXY), the current Beneish M-Score is -1.53 as of Jun. 27, 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 Light (LGSXY) Overvalued in 2026?
Based on GuruFocus' analysis, Light stock appears to be undervalued.
The current stock price of $0.45 is trading 45.8% below its estimated GF Value™ of $0.83.
GuruFocus considers Light to be Possible Value Trap.
Key valuation signals for LGSXY:
Beneish M-Score: -1.53
GF Value™: $0.83 vs. price of $0.45 (45.8% below fair value)
No single metric tells the full story. See the LGSXY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Light SA is a Brazilian private-public utility of which the state-owned power company, CEMIG, wields a controlling stake. The company generates, distributes, and trades energy. To do this, the company owns and operates a portfolio of hydroelectric power plants that serve the Brazilian state of Rio de Janeiro. Light derives maximum of its revenue from the supplying of energy, with network usage and the construction of assets also bringing in substantial amounts of revenue. The vast majority of the company's customers are residential consumers. The company operates in three segments namely: Distribution, Generation and Trading, out of which maximum revenue is generated from Distribution segment.
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