Mincon Group (LSE:MCON) Beneish M-Score: -2.37 (As of Jun. 26, 2026)

What is Mincon Group Beneish M-Score?

Mincon Group LSE:MCON 54 Beneish M-Score is -2.37 as of Jun. 26, 2026. GuruFocus rates LSE:MCON with a GF Score™ of 54/100 and a GF Value™ of £0.40 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 2,926 Industrial Products companies, Mincon Group ranks worse than 57.72% 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 -2.37 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LSE:MCON' s Beneish M-Score Range Over the Past 10 Years
Min: -2.8 Med: -2.37 Max: -2.12
Current: -2.37

During the past 13 years, the highest Beneish M-Score of Mincon Group was -2.12. The lowest was -2.80. And the median was -2.37.

Mincon Group Beneish M-Score Related Terms

Mincon Group Beneish M-Score Historical Data

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The historical data trend for Mincon 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.

Mincon Group Beneish M-Score Chart

Mincon Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.32

-2.36

-2.80

-2.47

-2.37

Mincon 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															-2.80	0.00	-2.47	0.00	-2.37

LSE:MCON vs SNA, RBC, LECO: Beneish M-Score Comparison

For the Tools & Accessories subindustry, Mincon 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.

Mincon Group Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Mincon Group's Beneish M-Score distribution charts can be found below:

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

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54GF Score

Mincon Group PLC LSE:MCON

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

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Mincon 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 Mincon 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 * 1.0067

0.528 * 0.9328

0.404 * 1.0842

0.892 * 1.0879

0.115 * 0.857

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * -0.015962

0.327 * 1.0077

-2.32

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was £22.2 Mil.
Revenue was £130.1 Mil.
Gross Profit was £38.9 Mil.
Total Current Assets was £104.5 Mil.
Total Assets was £180.4 Mil.
Property, Plant and Equipment(Net PPE) was £35.8 Mil.
Depreciation, Depletion and Amortization(DDA) was £7.3 Mil.
Selling, General, & Admin. Expense(SGA) was £0.0 Mil.
Total Current Liabilities was £31.5 Mil.
Long-Term Debt & Capital Lease Obligation was £16.3 Mil.
Net Income was £4.8 Mil.
Gross Profit was £0.0 Mil.
Cash Flow from Operations was £7.7 Mil.

Total Receivables was £20.3 Mil.
Revenue was £119.6 Mil.
Gross Profit was £33.3 Mil.
Total Current Assets was £97.0 Mil.
Total Assets was £175.1 Mil.
Property, Plant and Equipment(Net PPE) was £42.2 Mil.
Depreciation, Depletion and Amortization(DDA) was £7.2 Mil.
Selling, General, & Admin. Expense(SGA) was £5.9 Mil.
Total Current Liabilities was £26.3 Mil.
Long-Term Debt & Capital Lease Obligation was £19.7 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)
	=	(22.206 / 130.082)	/	(20.276 / 119.57)
	=	0.170708	/	0.169574
	=	1.0067

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)
	=	(33.325 / 119.57)	/	(38.865 / 130.082)
	=	0.278707	/	0.298773
	=	0.9328

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 - (104.451 + 35.777) / 180.363)	/	(1 - (96.991 + 42.196) / 175.132)
	=	0.222523	/	0.205245
	=	1.0842

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
	=	130.082	/	119.57
	=	1.0879

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))
	=	(7.185 / (7.185 + 42.196))	/	(7.316 / (7.316 + 35.777))
	=	0.145501	/	0.169772
	=	0.857

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 / 130.082)	/	(5.871 / 119.57)
	=	0	/	0.049101
	=	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)
	=	((16.258 + 31.506) / 180.363)	/	((19.688 + 26.336) / 175.132)
	=	0.264821	/	0.262796
	=	1.0077

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
	=	(4.828 - 0	-	7.707)	/	180.363
	=	-0.015962

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.

Mincon Group has a M-score of -2.32 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 -2.37 mean?

Mincon Group (LSE:MCON) has a Beneish M-Score of -2.37 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mincon Group and its competitors. According to the industry distribution chart, Mincon Group ranks #1689 out of 2926 companies in the Industrial Products industry, placing it in the top 57.7%.

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

Mincon Group's current Beneish M-Score is -2.37. Based on the distribution chart, Mincon Group ranks #1689 out of 2926 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Mincon Group has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Mincon Group's Beneish M-Score compare to SNA and RBC?

According to the Industrial Products industry distribution chart, Mincon Group ranks #1689 out of 2926 companies for Beneish M-Score. This places Mincon 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 an Industrial Products company?

A good Beneish M-Score depends on the Industrial Products 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 Mincon Group and its competitors. Mincon Group's current Beneish M-Score is -2.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Mincon Group stock overvalued right now?

Based on GuruFocus' analysis, Mincon Group (LSE:MCON) is currently considered Significantly Overvalued. The stock's GF Value™ is £0.40, compared to a current price of £0.56 — trading 38.8% above its estimated fair value. The current Beneish M-Score is -2.37. Mincon Group's overall GF Score™ is 54/100 with 5 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 Mincon Group (LSE:MCON), the current Beneish M-Score is -2.37 as of Jun. 26, 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 Mincon Group (LSE:MCON) Overvalued in 2026?

Based on GuruFocus' analysis, Mincon Group stock appears to be overvalued. The current stock price of £0.56 is trading 38.8% above its estimated GF Value™ of £0.40. GuruFocus considers Mincon Group to be Significantly Overvalued.

Key valuation signals for LSE:MCON:

Beneish M-Score: -2.37
GF Value™: £0.40 vs. price of £0.56 (38.8% above fair value)
GF Score™: 54/100 with 5 warning signs

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

Mincon Group Business Description

Industry Industrials Industrial Products

Comparable Companies HKSE:00669 SNA RBC LECO SWK OSTO:SKF B TSE:6586 TKR TTC XSWX:SFSN TSE:9962 SZSE:002444 TPE:2049 XTER:GIL SHSE:603667 SHSE:688257 SHSE:688308 TPE:1560 SZSE:300179 BOM:522113

Other Exchanges MIO:Ireland

Address Smithstown Industrial Estate, County Clare, Shannon, IRL

Website https://www.mincon.com

Mincon Group PLC designs, produces, and sells rock drilling tools. Its products are used in the mining exploration, oil and gas production, water well drilling, geothermal drilling, and seismic drilling sectors. Mincon's product offerings include conventional down-the-hole hammers, inverted circulation down-the-hole hammers, horizontal directional drilling systems, mast integration systems, drill pipes, and shock absorbers, among others. It also provides training, after-sales support, and related services to customers through its network of sales and distribution companies. Maximum revenue is derived from the sale of drilling equipment. Geographically, the company generates maximum revenue from Europe, Middle East, Africa (EMEA), followed by the Americas, Australasia, and Ireland.

54GF Score

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

£0.56

Price

£0.40

GF Value

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