Finseta (LSE:FIN) Beneish M-Score: -3.51 (As of Jun. 25, 2026)


LSE:FIN Finseta PLC LSE:FIN
43 GF Score
Price £0.12
GF Value £0.40
Valuation Possible Value Trap
! 2 Warning Signs
View Full Analysis

What is Finseta Beneish M-Score?

Finseta LSE:FIN +2.13% 43 Beneish M-Score is -3.51 as of Jun. 25, 2026. GuruFocus rates LSE:FIN with a GF Score™ of 43/100 and a GF Value™ of £0.40 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 2,633 Software companies, Finseta ranks better than 87.92% 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 -3.51 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LSE:FIN' s Beneish M-Score Range Over the Past 10 Years
Min: -12.72   Med: -3.51   Max: -1.54
Current: -3.51

During the past 7 years, the highest Beneish M-Score of Finseta was -1.54. The lowest was -12.72. And the median was -3.51.

Finseta Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Finseta'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.

Finseta Beneish M-Score Chart

Finseta Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial -12.72 -6.17 -1.54 -2.94 -3.51

Finseta Semi-Annual Data
Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.54 0.00 -2.94 0.00 -3.51

LSE:FIN vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Finseta'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.

Finseta Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Finseta's Beneish M-Score distribution charts can be found below:

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


LSE:FIN
43GF Score
Finseta PLC LSE:FIN
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Finseta 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 Finseta 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 * 0.9853+0.528 * 1.0603+0.404 * 1.1948+0.892 * 1.0944+0.115 * 0.8107
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2618+4.679 * -0.24145-0.327 * 1.0443
=-3.51

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was £0.92 Mil.
Revenue was £12.43 Mil.
Gross Profit was £7.70 Mil.
Total Current Assets was £3.26 Mil.
Total Assets was £6.37 Mil.
Property, Plant and Equipment(Net PPE) was £0.45 Mil.
Depreciation, Depletion and Amortization(DDA) was £1.34 Mil.
Selling, General, & Admin. Expense(SGA) was £7.52 Mil.
Total Current Liabilities was £2.21 Mil.
Long-Term Debt & Capital Lease Obligation was £1.83 Mil.
Net Income was £-1.11 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £0.43 Mil.
 Total Receivables was £0.86 Mil.
Revenue was £11.35 Mil.
Gross Profit was £7.46 Mil.
Total Current Assets was £4.24 Mil.
Total Assets was £7.40 Mil.
Property, Plant and Equipment(Net PPE) was £0.57 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.88 Mil.
Selling, General, & Admin. Expense(SGA) was £5.44 Mil.
Total Current Liabilities was £2.23 Mil.
Long-Term Debt & Capital Lease Obligation was £2.25 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)
=(0.923 / 12.426) / (0.856 / 11.354)
=0.07428 / 0.075392
=0.9853

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)
=(7.459 / 11.354) / (7.699 / 12.426)
=0.656949 / 0.619588
=1.0603

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 - (3.259 + 0.448) / 6.374) / (1 - (4.235 + 0.571) / 7.396)
=0.418419 / 0.350189
=1.1948

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
=12.426 / 11.354
=1.0944

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))
=(0.882 / (0.882 + 0.571)) / (1.335 / (1.335 + 0.448))
=0.60702 / 0.748738
=0.8107

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)
=(7.518 / 12.426) / (5.444 / 11.354)
=0.605022 / 0.479479
=1.2618

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)
=((1.827 + 2.205) / 6.374) / ((2.246 + 2.234) / 7.396)
=0.63257 / 0.605733
=1.0443

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
=(-1.112 - 0 - 0.427) / 6.374
=-0.24145

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.

Finseta has a M-score of -3.51 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 -3.51 mean?
Finseta (LSE:FIN) has a Beneish M-Score of -3.51 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Finseta and its competitors. According to the industry distribution chart, Finseta ranks #318 out of 2633 companies in the Software industry, placing it in the top 12.1%.
Is Finseta's Beneish M-Score too high?
Finseta's current Beneish M-Score is -3.51. Based on the distribution chart, Finseta ranks #318 out of 2633 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Finseta has a GF Score™ of 43/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Finseta's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Finseta ranks #318 out of 2633 companies for Beneish M-Score. This places Finseta in the top 12% of its industry — outperforming the majority of peers. 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 Software company?
A good Beneish M-Score depends on the Software 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 Finseta and its competitors. Finseta's current Beneish M-Score is -3.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Finseta stock overvalued right now?
Based on GuruFocus' analysis, Finseta (LSE:FIN) is currently considered Possible Value Trap. The stock's GF Value™ is £0.40, compared to a current price of £0.12 — trading 70% below its estimated fair value. The current Beneish M-Score is -3.51. Finseta's overall GF Score™ is 43/100 with 2 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 Finseta (LSE:FIN), the current Beneish M-Score is -3.51 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 Finseta (LSE:FIN) Overvalued in 2026?

Based on GuruFocus' analysis, Finseta stock appears to be undervalued. The current stock price of £0.12 is trading 70% below its estimated GF Value™ of £0.40. GuruFocus considers Finseta to be Possible Value Trap.

Key valuation signals for LSE:FIN:

  • Beneish M-Score: -3.51
  • GF Value™: £0.40 vs. price of £0.12 (70% below fair value)
  • GF Score™: 43/100 with 2 warning signs

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

Finseta Business Description

Other Exchanges 90W:Germany
Address 14-18 Copthall Avenue, London, GBR, EC2R 7DJ
Finseta PLC is a foreign exchange and payments company offering multi-currency accounts and payment solutions to businesses and individuals. The Group provides international payment, currency management, and electronic account services across several countries in various currencies using its proprietary cloud-based multi-currency payments platform. Additionally, it offers the Finseta Corporate Card, enabling real-time spend tracking, multi-user access, and international transactions. Geographically, the majority of the company's revenue is generated from the United Kingdom, followed by the Rest of the world.
43GF Score

Get the complete analysis for LSE:FIN

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

£0.12
Price
£0.40
GF Value