Diales Group (LSE:DIAL) Beneish M-Score: -2.23 (As of Jul. 05, 2026)

What is Diales Group Beneish M-Score?

Diales Group LSE:DIAL +1.59% 50 Beneish M-Score is -2.23 as of Jul. 05, 2026. GuruFocus rates LSE:DIAL with a GF Score™ of 50/100 and a GF Value™ of £0.26 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 1,022 Business Services companies, Diales Group ranks worse than 71.72% 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 -2.23 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LSE:DIAL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.22 Med: -2.79 Max: -1.9
Current: -2.23

During the past 13 years, the highest Beneish M-Score of Diales Group was -1.90. The lowest was -3.22. And the median was -2.79.

Diales Group Beneish M-Score Related Terms

Diales Group Beneish M-Score Historical Data

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The historical data trend for Diales 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.

Diales Group Beneish M-Score Chart

Diales Group Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

Beneish M-Score

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-2.12

-3.00

-3.22

-2.68

-2.23

Diales Group Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.68	0.00	-2.23	0.00

LSE:DIAL vs VRSK, EFX, BAH: Beneish M-Score Comparison

For the Consulting Services subindustry, Diales 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.

Diales Group Beneish M-Score vs Business Services Industry

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

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

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Diales Group PLC LSE:DIAL

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

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Diales 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 Diales 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 * 1.0429

0.528 * 0.9458

0.404 * 1.009

0.892 * 0.9998

0.115 * 1.0584

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * 0.011039

0.327 * 0.9906

-2.23

This Year (Sep25) TTM:

Last Year (Sep24) TTM:

Total Receivables was £13.25 Mil.
Revenue was £42.96 Mil.
Gross Profit was £11.59 Mil.
Total Current Assets was £17.63 Mil.
Total Assets was £22.47 Mil.
Property, Plant and Equipment(Net PPE) was £1.12 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.79 Mil.
Selling, General, & Admin. Expense(SGA) was £0.00 Mil.
Total Current Liabilities was £7.94 Mil.
Long-Term Debt & Capital Lease Obligation was £0.43 Mil.
Net Income was £0.68 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £0.44 Mil.

Total Receivables was £12.71 Mil.
Revenue was £42.97 Mil.
Gross Profit was £10.96 Mil.
Total Current Assets was £18.13 Mil.
Total Assets was £22.97 Mil.
Property, Plant and Equipment(Net PPE) was £1.07 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.83 Mil.
Selling, General, & Admin. Expense(SGA) was £10.08 Mil.
Total Current Liabilities was £8.39 Mil.
Long-Term Debt & Capital Lease Obligation was £0.24 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)
	=	(13.253 / 42.957)	/	(12.71 / 42.966)
	=	0.308518	/	0.295815
	=	1.0429

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)
	=	(10.964 / 42.966)	/	(11.59 / 42.957)
	=	0.255179	/	0.269805
	=	0.9458

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 - (17.626 + 1.124) / 22.465)	/	(1 - (18.132 + 1.07) / 22.966)
	=	0.165368	/	0.163894
	=	1.009

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
	=	42.957	/	42.966
	=	0.9998

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))
	=	(0.83 / (0.83 + 1.07))	/	(0.79 / (0.79 + 1.124))
	=	0.436842	/	0.412748
	=	1.0584

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)
	=	(0 / 42.957)	/	(10.084 / 42.966)
	=	0	/	0.234697
	=	0

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)
	=	((0.428 + 7.935) / 22.465)	/	((0.238 + 8.393) / 22.966)
	=	0.372268	/	0.375816
	=	0.9906

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
	=	(0.683 - 0	-	0.435)	/	22.465
	=	0.011039

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.

Diales Group has a M-score of -2.23 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 -2.23 mean?

Diales Group (LSE:DIAL) has a Beneish M-Score of -2.23 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Diales Group and its competitors. According to the industry distribution chart, Diales Group ranks #733 out of 1022 companies in the Business Services industry, placing it in the top 71.7%.

Is Diales Group's Beneish M-Score too high?

Diales Group's current Beneish M-Score is -2.23. Based on the distribution chart, Diales Group ranks #733 out of 1022 companies in the Business Services industry, which is below the industry midpoint. Overall, Diales Group has a GF Score™ of 50/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Diales Group's Beneish M-Score compare to VRSK and EFX?

According to the Business Services industry distribution chart, Diales Group ranks #733 out of 1022 companies for Beneish M-Score. This places Diales Group 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 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 Diales Group and its competitors. Diales Group's current Beneish M-Score is -2.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Diales Group stock overvalued right now?

Based on GuruFocus' analysis, Diales Group (LSE:DIAL) is currently considered Modestly Overvalued. The stock's GF Value™ is £0.26, compared to a current price of £0.32 — trading 23.1% above its estimated fair value. The current Beneish M-Score is -2.23. Diales Group's overall GF Score™ is 50/100 with 8 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 Diales Group (LSE:DIAL), the current Beneish M-Score is -2.23 as of Jul. 05, 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 Diales Group (LSE:DIAL) Overvalued in 2026?

Based on GuruFocus' analysis, Diales Group stock appears to be overvalued. The current stock price of £0.32 is trading 23.1% above its estimated GF Value™ of £0.26. GuruFocus considers Diales Group to be Modestly Overvalued.

Key valuation signals for LSE:DIAL:

Beneish M-Score: -2.23
GF Value™: £0.26 vs. price of £0.32 (23.1% above fair value)
GF Score™: 50/100 with 8 warning signs

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

Diales Group Business Description

Industry Industrials Business Services

Comparable Companies LSE:MANO LSE:RCFX LSE:GTLY LSE:EXPN VRSK XSWX:SGSN EFX XPAR:BVI ASX:ALQ BAH TSE:6532 XSWX:DKSH FCN SZSE:300012 XPAR:IPS SZSE:002967 HURN ICFI CRAI SHSE:603060

Address 125 Old Broad Street, Suite 706-708, Floor 7, London, GBR, EC2N 1AR

Website https://www.diales.com

Diales Group PLC provides advisory services to the engineering and construction industries. The company offers quantity surveying, quantum and planning experts, mediators, arbitrators, and project management services; and other consultancy services, including planning, programming, Litigation, and Alternative Dispute Resolution. The company covers building, marine, mining, infrastructure, energy, and other sectors. The company has segments in Europe and America, Middle East, and Asia Pacific. Maximum revenue is gained from Europe and America.

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£0.32

Price

£0.26

GF Value

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