Public Power (LTS:0MC5) Beneish M-Score: -2.90 (As of Jun. 27, 2026)


LTS:0MC5 Public Power Corp SA LTS:0MC5
71 GF Score
Price €2.27
GF Value €1.91
Valuation Modestly Overvalued
! 10 Warning Signs
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What is Public Power Beneish M-Score?

Public Power LTS:0MC5 71 Beneish M-Score is -2.90 as of Jun. 27, 2026. GuruFocus rates LTS:0MC5 with a GF Score™ of 71/100 and a GF Value™ of €1.91 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 390 Utilities - Independent Power Producers companies, Public Power ranks better than 75.13% 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 -2.9 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LTS:0MC5' s Beneish M-Score Range Over the Past 10 Years
Min: -3.44   Med: -2.86   Max: -1.4
Current: -2.9

During the past 13 years, the highest Beneish M-Score of Public Power was -1.40. The lowest was -3.44. And the median was -2.86.


Public Power Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Public Power'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.

Public Power Beneish M-Score Chart

Public Power Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.40 -1.64 -2.52 -2.81 -2.90

Public Power 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 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 -2.52 0.00 -2.81 0.00 -2.90

Public Power Beneish M-Score Competitor Comparison

For the Utilities - Renewable subindustry, Public Power'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.


Public Power Beneish M-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Public Power's Beneish M-Score distribution charts can be found below:

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


LTS:0MC5
71GF Score
Public Power Corp SA LTS:0MC5
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Public Power 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 Public Power 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 * 0.8503+0.528 * 0.9934+0.404 * 0.9365+0.892 * 1.0805+0.115 * 0.9022
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2973+4.679 * -0.052097-0.327 * 1.0454
=-2.90

* 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 €4,066 Mil.
Revenue was €9,701 Mil.
Gross Profit was €4,690 Mil.
Total Current Assets was €8,327 Mil.
Total Assets was €28,461 Mil.
Property, Plant and Equipment(Net PPE) was €17,801 Mil.
Depreciation, Depletion and Amortization(DDA) was €1,130 Mil.
Selling, General, & Admin. Expense(SGA) was €135 Mil.
Total Current Liabilities was €7,727 Mil.
Long-Term Debt & Capital Lease Obligation was €8,133 Mil.
Net Income was €295 Mil.
Gross Profit was €0 Mil.
Cash Flow from Operations was €1,778 Mil.
Total Receivables was €4,426 Mil.
Revenue was €8,979 Mil.
Gross Profit was €4,312 Mil.
Total Current Assets was €8,455 Mil.
Total Assets was €27,319 Mil.
Property, Plant and Equipment(Net PPE) was €16,473 Mil.
Depreciation, Depletion and Amortization(DDA) was €938 Mil.
Selling, General, & Admin. Expense(SGA) was €96 Mil.
Total Current Liabilities was €8,059 Mil.
Long-Term Debt & Capital Lease Obligation was €6,504 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)
=(4065.61 / 9701.029) / (4425.556 / 8978.607)
=0.419091 / 0.4929
=0.8503

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)
=(4311.873 / 8978.607) / (4689.556 / 9701.029)
=0.480239 / 0.483408
=0.9934

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 - (8326.649 + 17801.272) / 28460.875) / (1 - (8454.979 + 16473.201) / 27319.329)
=0.081971 / 0.087526
=0.9365

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
=9701.029 / 8978.607
=1.0805

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))
=(937.628 / (937.628 + 16473.201)) / (1129.966 / (1129.966 + 17801.272))
=0.053853 / 0.059688
=0.9022

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)
=(134.9 / 9701.029) / (96.241 / 8978.607)
=0.013906 / 0.010719
=1.2973

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)
=((8133.246 + 7727.267) / 28460.875) / ((6504.126 + 8058.868) / 27319.329)
=0.557274 / 0.533066
=1.0454

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
=(295.051 - 0 - 1777.786) / 28460.875
=-0.052097

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.

Public Power has a M-score of -2.90 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 -2.90 mean?
Public Power (LTS:0MC5) has a Beneish M-Score of -2.90 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Public Power and its competitors. According to the industry distribution chart, Public Power ranks #97 out of 390 companies in the Utilities - Independent Power Producers industry, placing it in the top 24.9%.
Is Public Power's Beneish M-Score too high?
Public Power's current Beneish M-Score is -2.90. Based on the distribution chart, Public Power ranks #97 out of 390 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, Public Power has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Public Power's Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Public Power ranks #97 out of 390 companies for Beneish M-Score. This places Public Power in the top 25% 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 an Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Public Power and its competitors. Public Power's current Beneish M-Score is -2.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Public Power stock overvalued right now?
Based on GuruFocus' analysis, Public Power (LTS:0MC5) is currently considered Modestly Overvalued. The stock's GF Value™ is €1.91, compared to a current price of €2.27 — trading 18.8% above its estimated fair value. The current Beneish M-Score is -2.90. Public Power's overall GF Score™ is 71/100 with 10 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 Public Power (LTS:0MC5), the current Beneish M-Score is -2.90 as of Jun. 27, 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 Public Power (LTS:0MC5) Overvalued in 2026?

Based on GuruFocus' analysis, Public Power stock appears to be overvalued. The current stock price of €2.27 is trading 18.8% above its estimated GF Value™ of €1.91. GuruFocus considers Public Power to be Modestly Overvalued.

Key valuation signals for LTS:0MC5:

  • Beneish M-Score: -2.90
  • GF Value™: €1.91 vs. price of €2.27 (18.8% above fair value)
  • GF Score™: 71/100 with 10 warning signs

No single metric tells the full story. See the LTS:0MC5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Public Power Business Description

Address 30, Chalkokondyli Street, Athens, GRC, 104 32
Public Power Corp SA is a public electric utility company with the Hellenic Republic as its main shareholder. The company is involved in generating, transmitting, and distributing electric energy. The company, along with its subsidiaries, operates a variety of power plants, including natural gas, coal, hydroelectric, wind, and solar plants. PPC majorly generates electricity from its thermal energy facilities. The company is divided into segments including Production/Supply, which includes production from lignite, oil, natural gas, and renewable energy sources, as well as lignite mining in support of production and supply activities in Greece and Romania. Other segments include the Distribution network and others.
71GF Score

Get the complete analysis for LTS:0MC5

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

€2.27
Price
€1.91
GF Value