Porvair (LSE:PRV) Beneish M-Score: -2.57 (As of Jun. 26, 2026)


LSE:PRV Porvair PLC LSE:PRV
93 GF Score
Price £8.16
GF Value £7.57
Valuation Fairly Valued
! 1 Warning Sign
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What is Porvair Beneish M-Score?

Porvair LSE:PRV -1.69% 93 Beneish M-Score is -2.57 as of Jun. 26, 2026. GuruFocus rates LSE:PRV with a GF Score™ of 93/100 and a GF Value™ of £7.57 (Fairly Valued). The stock has 1 warning sign investors should review. Among 2,926 Industrial Products companies, Porvair ranks better than 60.97% 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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LSE:PRV' s Beneish M-Score Range Over the Past 10 Years
Min: -2.72   Med: -2.47   Max: -2.24
Current: -2.57

During the past 13 years, the highest Beneish M-Score of Porvair was -2.24. The lowest was -2.72. And the median was -2.47.


Porvair Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Porvair'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.

Porvair Beneish M-Score Chart

Porvair Annual Data
Trend Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.52 -2.47 -2.67 -2.24 -2.57

Porvair Semi-Annual Data
May16 Nov16 May17 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.67 0.00 -2.24 0.00 -2.57

LSE:PRV vs VLTO, ZWS, CECO: Beneish M-Score Comparison

For the Pollution & Treatment Controls subindustry, Porvair'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.


Porvair Beneish M-Score vs Industrial Products Industry

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

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


LSE:PRV
93GF Score
Porvair PLC LSE:PRV
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Porvair 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 Porvair 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 * 1.0419+0.528 * 0.9549+0.404 * 0.9413+0.892 * 1.0069+0.115 * 0.9587
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0374+4.679 * -0.025424-0.327 * 0.8761
=-2.57

* 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 (Nov25) TTM:Last Year (Nov24) TTM:
Total Receivables was £31.2 Mil.
Revenue was £194.0 Mil.
Gross Profit was £68.7 Mil.
Total Current Assets was £89.6 Mil.
Total Assets was £223.6 Mil.
Property, Plant and Equipment(Net PPE) was £46.1 Mil.
Depreciation, Depletion and Amortization(DDA) was £8.2 Mil.
Selling, General, & Admin. Expense(SGA) was £44.2 Mil.
Total Current Liabilities was £35.2 Mil.
Long-Term Debt & Capital Lease Obligation was £12.0 Mil.
Net Income was £18.1 Mil.
Gross Profit was £0.0 Mil.
Cash Flow from Operations was £23.8 Mil.
Total Receivables was £29.8 Mil.
Revenue was £192.6 Mil.
Gross Profit was £65.1 Mil.
Total Current Assets was £79.5 Mil.
Total Assets was £215.1 Mil.
Property, Plant and Equipment(Net PPE) was £45.8 Mil.
Depreciation, Depletion and Amortization(DDA) was £7.7 Mil.
Selling, General, & Admin. Expense(SGA) was £42.3 Mil.
Total Current Liabilities was £36.9 Mil.
Long-Term Debt & Capital Lease Obligation was £15.0 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)
=(31.227 / 193.977) / (29.764 / 192.639)
=0.160983 / 0.154507
=1.0419

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)
=(65.105 / 192.639) / (68.657 / 193.977)
=0.337964 / 0.353944
=0.9549

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 - (89.55 + 46.096) / 223.572) / (1 - (79.479 + 45.76) / 215.115)
=0.393278 / 0.417804
=0.9413

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
=193.977 / 192.639
=1.0069

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))
=(7.705 / (7.705 + 45.76)) / (8.155 / (8.155 + 46.096))
=0.144113 / 0.15032
=0.9587

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)
=(44.193 / 193.977) / (42.308 / 192.639)
=0.227826 / 0.219623
=1.0374

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)
=((11.986 + 35.207) / 223.572) / ((14.969 + 36.86) / 215.115)
=0.211086 / 0.240936
=0.8761

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
=(18.149 - 0 - 23.833) / 223.572
=-0.025424

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.

Porvair has a M-score of -2.57 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 -2.57 mean?
Porvair (LSE:PRV) has a Beneish M-Score of -2.57 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Porvair and its competitors. According to the industry distribution chart, Porvair ranks #1142 out of 2926 companies in the Industrial Products industry, placing it in the top 39%.
Is Porvair's Beneish M-Score too high?
Porvair's current Beneish M-Score is -2.57. Based on the distribution chart, Porvair ranks #1142 out of 2926 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Porvair has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Porvair's Beneish M-Score compare to VLTO and ZWS?
According to the Industrial Products industry distribution chart, Porvair ranks #1142 out of 2926 companies for Beneish M-Score. This puts Porvair 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 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 Porvair and its competitors. Porvair's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Porvair stock overvalued right now?
Based on GuruFocus' analysis, Porvair (LSE:PRV) is currently considered Fairly Valued. The stock's GF Value™ is £7.57, compared to a current price of £8.16 — trading 7.8% above its estimated fair value. The current Beneish M-Score is -2.57. Porvair's overall GF Score™ is 93/100 with 1 warning sign 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 Porvair (LSE:PRV), the current Beneish M-Score is -2.57 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 Porvair (LSE:PRV) Overvalued in 2026?

Based on GuruFocus' analysis, Porvair stock appears to be overvalued. The current stock price of £8.16 is trading 7.8% above its estimated GF Value™ of £7.57. GuruFocus considers Porvair to be Fairly Valued.

Key valuation signals for LSE:PRV:

  • Beneish M-Score: -2.57
  • GF Value™: £7.57 vs. price of £8.16 (7.8% above fair value)
  • GF Score™: 93/100 with 1 warning sign

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


Porvair Business Description

Other Exchanges PVARF:USAPRVl:UK
Address 7 Regis Place, Bergen Way, King\'s Lynn, Norfolk, GBR, PE30 2JN
Porvair PLC is an environmental treatment control company. It develops filtration solutions to be used by various types of industries. The company caters to its clients through three divisions: Aerospace and Industrial, Laboratory, and Metal Melt Quality. The Aerospace and Industrial Division is a key revenue generator, principally serving the aviation, energy, and industrial markets. Laboratory Division principally serving the bioscience and environmental laboratory instrument and consumables market. Metal Melt Quality Division principally serves the world aluminium, North American Free Trade Agreement (NAFTA), iron foundry, and superalloys markets. The company generates the majority of its manufacturing revenue from sales in the United States.
93GF Score

Get the complete analysis for LSE:PRV

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

£8.16
Price
£7.57
GF Value