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Tandem GroupLSE:TND 56 Beneish M-Score is -2.65 as of Aug. 28, 2026. GuruFocus rates LSE:TND with a GF Score™ of 56/100 and a GF Value™ of £1.98 (Fairly Valued). The stock has 5 warning signs investors should review. Among 821 Travel & Leisure companies, Tandem Group ranks better than 52.01% 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 -2.65 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Tandem Group's Beneish M-Score or its related term are showing as below:
LSE:TND'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.74 Med: -2.45 Max: -1.61
Current: -2.65
During the past 13 years, the highest Beneish M-Score of Tandem Group was -1.61. The lowest was -2.74. And the median was -2.45.
The historical data trend for Tandem 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.
LSE:TND vs AS, HAS, LTH: Beneish M-Score Comparison
For the Leisure subindustry, Tandem 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.
Tandem Group Beneish M-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Tandem Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Tandem Group's Beneish M-Score falls into.
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 Tandem Group 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 * 0.9588
+
0.528 * 0.9625
+
0.404 * 0.9612
+
0.892 * 1.0623
+
0.115 * 1.0449
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.044829
-
0.327 * 0.833
=
-2.65
* 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.
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.
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))
=
(0.318 / (0.318 + 14.939))
/
(0.338 / (0.338 + 16.607))
=
0.020843
/
0.019947
=
1.0449
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
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
=
(0.85 - 0
-
2.419)
/
35
=
-0.044829
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.
Tandem Group has a M-score of -2.65 suggests that the company is unlikely to be a manipulator.
Tandem Group (LSE:TND) has a Beneish M-Score of -2.65 as of Aug. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tandem Group and its competitors. According to the industry distribution chart, Tandem Group ranks #394 out of 821 companies in the Travel & Leisure industry, placing it in the top 48%.
Is Tandem Group's Beneish M-Score too high?
Tandem Group's current Beneish M-Score is -2.65. Based on the distribution chart, Tandem Group ranks #394 out of 821 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Tandem Group has a GF Score™ of 56/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tandem Group's Beneish M-Score compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Tandem Group ranks #394 out of 821 companies for Beneish M-Score. This puts Tandem 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Tandem Group and its competitors. Tandem Group's current Beneish M-Score is -2.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tandem Group stock overvalued right now?
Based on GuruFocus' analysis, Tandem Group (LSE:TND) is currently considered Fairly Valued. The stock's GF Value™ is £1.98, compared to a current price of £1.80 — trading 9.1% below its estimated fair value. The current Beneish M-Score is -2.65. Tandem Group's overall GF Score™ is 56/100 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 Tandem Group (LSE:TND), the current Beneish M-Score is -2.65 as of Aug. 28, 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 Tandem Group (LSE:TND) Overvalued in 2026?
Based on GuruFocus' analysis, Tandem Group stock appears to be undervalued.
The current stock price of £1.80 is trading 9.1% below its estimated GF Value™ of £1.98.
GuruFocus considers Tandem Group to be Fairly Valued.
Key valuation signals for LSE:TND:
Beneish M-Score: -2.65
GF Value™: £1.98 vs. price of £1.80 (9.1% below fair value)
No single metric tells the full story. See the LSE:TND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tandem Group PLC is a designer, developer, distributor, and retailer of sports, leisure, and mobility products. Its products include bicycles and accessories, football training equipment, garden and camping, homewares and household appliances, mobility, outdoor play, snooker, pool and table sports, wheeled toys, and golf equipment, which are sold under various brands including Boss, Exile, Scorpion, Carpzone, Kickmaster, Windbar, Airwave, Disney, Shopkins, and Trolls. It has four segments: Toys, Sports & Leisure, Bicycles, including electric, Golf, and Home & Garden. The majority of its revenue comes from the Toys, Sports & Leisure segment. Geographically, the company generates maximum revenue from the United Kingdom, followed by Europe and the Rest of the World.
56GF Score
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