Croma Security Solutions Group (LSE:CSSG) Beneish M-Score: -2.78 (As of Jul. 11, 2026)

What is Croma Security Solutions Group Beneish M-Score?

Croma Security Solutions Group LSE:CSSG 40 Beneish M-Score is -2.78 as of Jul. 11, 2026. GuruFocus rates LSE:CSSG with a GF Score™ of 40/100 and a GF Value™ of £0.89 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,022 Business Services companies, Croma Security Solutions Group ranks better than 67.51% 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 -2.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Croma Security Solutions Group's Beneish M-Score or its related term are showing as below:

LSE:CSSG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.69 Med: -2.39 Max: 2.43
Current: -2.78

During the past 13 years, the highest Beneish M-Score of Croma Security Solutions Group was 2.43. The lowest was -3.69. And the median was -2.39.

Croma Security Solutions Group Beneish M-Score Related Terms

Croma Security Solutions Group Beneish M-Score Historical Data

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The historical data trend for Croma Security Solutions Group'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.

Croma Security Solutions Group Beneish M-Score Chart

Croma Security Solutions Group Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Beneish M-Score

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-2.61

2.43

-1.54

-2.29

-2.78

Croma Security Solutions Group Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.29	0.00	-2.78	0.00

LSE:CSSG vs ALLE, MSA, ADT: Beneish M-Score Comparison

For the Security & Protection Services subindustry, Croma Security Solutions Group'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.

Croma Security Solutions Group Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Croma Security Solutions Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Croma Security Solutions Group's Beneish M-Score falls into.

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40GF Score

Croma Security Solutions Group PLC LSE:CSSG

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

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Croma Security Solutions Group 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 Croma Security Solutions Group 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 * 0.5782

0.528 * 1.0548

0.404 * 0.7632

0.892 * 1.1026

0.115 * 1.04

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9732

4.679 * 0.00836

0.327 * 0.9574

-2.78

This Year (Jun25) TTM:

Last Year (Jun24) TTM:

Total Receivables was £2.94 Mil.
Revenue was £9.63 Mil.
Gross Profit was £4.18 Mil.
Total Current Assets was £9.04 Mil.
Total Assets was £18.42 Mil.
Property, Plant and Equipment(Net PPE) was £4.11 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.57 Mil.
Selling, General, & Admin. Expense(SGA) was £3.64 Mil.
Total Current Liabilities was £1.99 Mil.
Long-Term Debt & Capital Lease Obligation was £0.42 Mil.
Net Income was £0.79 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £0.63 Mil.

Total Receivables was £4.61 Mil.
Revenue was £8.74 Mil.
Gross Profit was £4.00 Mil.
Total Current Assets was £8.16 Mil.
Total Assets was £18.07 Mil.
Property, Plant and Equipment(Net PPE) was £3.13 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.45 Mil.
Selling, General, & Admin. Expense(SGA) was £3.40 Mil.
Total Current Liabilities was £1.99 Mil.
Long-Term Debt & Capital Lease Obligation was £0.48 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)
	=	(2.94 / 9.633)	/	(4.612 / 8.737)
	=	0.305201	/	0.52787
	=	0.5782

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)
	=	(3.999 / 8.737)	/	(4.18 / 9.633)
	=	0.457709	/	0.433925
	=	1.0548

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 - (9.04 + 4.107) / 18.421)	/	(1 - (8.163 + 3.128) / 18.069)
	=	0.286304	/	0.375118
	=	0.7632

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
	=	9.633	/	8.737
	=	1.1026

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))
	=	(0.454 / (0.454 + 3.128))	/	(0.57 / (0.57 + 4.107))
	=	0.126745	/	0.121873
	=	1.04

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)
	=	(3.643 / 9.633)	/	(3.395 / 8.737)
	=	0.378179	/	0.388577
	=	0.9732

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)
	=	((0.419 + 1.989) / 18.421)	/	((0.477 + 1.99) / 18.069)
	=	0.13072	/	0.136532
	=	0.9574

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
	=	(0.786 - 0	-	0.632)	/	18.421
	=	0.00836

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.

Croma Security Solutions Group has a M-score of -2.78 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 -2.78 mean?

Croma Security Solutions Group (LSE:CSSG) has a Beneish M-Score of -2.78 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Croma Security Solutions Group and its competitors. According to the industry distribution chart, Croma Security Solutions Group ranks #332 out of 1022 companies in the Business Services industry, placing it in the top 32.5%.

Is Croma Security Solutions Group's Beneish M-Score too high?

Croma Security Solutions Group's current Beneish M-Score is -2.78. Based on the distribution chart, Croma Security Solutions Group ranks #332 out of 1022 companies in the Business Services industry, which is above the industry midpoint. Overall, Croma Security Solutions Group has a GF Score™ of 40/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Croma Security Solutions Group's Beneish M-Score compare to ALLE and MSA?

According to the Business Services industry distribution chart, Croma Security Solutions Group ranks #332 out of 1022 companies for Beneish M-Score. This puts Croma Security Solutions Group 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 Business Services company?

A good Beneish M-Score depends on the Business 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 Croma Security Solutions Group and its competitors. Croma Security Solutions Group's current Beneish M-Score is -2.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Croma Security Solutions Group stock overvalued right now?

Based on GuruFocus' analysis, Croma Security Solutions Group (LSE:CSSG) is currently considered Modestly Undervalued. The stock's GF Value™ is £0.89, compared to a current price of £0.69 — trading 23% below its estimated fair value. The current Beneish M-Score is -2.78. Croma Security Solutions Group's overall GF Score™ is 40/100 with 3 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 Croma Security Solutions Group (LSE:CSSG), the current Beneish M-Score is -2.78 as of Jul. 11, 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 Croma Security Solutions Group (LSE:CSSG) Overvalued in 2026?

Based on GuruFocus' analysis, Croma Security Solutions Group stock appears to be undervalued. The current stock price of £0.69 is trading 23% below its estimated GF Value™ of £0.89. GuruFocus considers Croma Security Solutions Group to be Modestly Undervalued.

Key valuation signals for LSE:CSSG:

Beneish M-Score: -2.78
GF Value™: £0.89 vs. price of £0.69 (23% below fair value)
GF Score™: 40/100 with 3 warning signs

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

Croma Security Solutions Group Business Description

Industry Industrials Business Services

Comparable Companies LSE:NWT LSE:PEG LSE:THRU LSE:IGE LSE:QUBE LSE:SNX OSTO:ASSA B TSE:9735 ALLE OSTO:SECU B SZSE:002236 XTAE:NXSN MSA ADT BRC HKSE:02442 GEO BCO OSTO:LOOMIS TSE:2331

Address Solent Way, Unit 7 and 8, Fulcrum 4, Fareham, Whiteley, Hampshire, GBR, PO15 7FT

Website https://www.cssgplc.com

Croma Security Solutions Group PLC is a UK-based company providing security services through its segments, Croma Fire and Security and Croma Locksmiths (Locks), which generate the majority of revenue. The company focuses on asset protection through CCTV security, fire, alarm systems, identity management, and access control. It supplies, installs, and maintains locks, padlocks, safes, ironmongery, UPVC mechanisms, security shutters, grilles, and doors. Additionally, it designs, installs, monitors, and maintains intruder alarm systems, fire and life safety systems, access control systems, perimeter detection systems, barriers, gates, bollards, and industrial and automatic doors/shutters. The services include security systems, fire services, and locksmith services.

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

£0.69

Price

£0.89

GF Value

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