MCH Group (LTS:0QPF) Beneish M-Score: -2.69 (As of Jun. 28, 2026)

What is MCH Group Beneish M-Score?

MCH Group LTS:0QPF 63 Beneish M-Score is -2.69 as of Jun. 28, 2026. GuruFocus rates LTS:0QPF with a GF Score™ of 63/100 and a GF Value™ of CHF3.78 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 983 Media - Diversified companies, MCH Group ranks better than 58.09% 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 -2.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LTS:0QPF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.44 Med: -2.55 Max: -1.22
Current: -2.69

During the past 13 years, the highest Beneish M-Score of MCH Group was -1.22. The lowest was -4.44. And the median was -2.55.

MCH Group Beneish M-Score Related Terms

MCH Group Beneish M-Score Historical Data

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The historical data trend for MCH 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.

MCH Group Beneish M-Score Chart

MCH Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-1.84

-1.22

-3.08

-2.25

-2.69

MCH 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															-3.08	0.00	-2.25	0.00	-2.69

LTS:0QPF vs APP, OMC, TTD: Beneish M-Score Comparison

For the Advertising Agencies subindustry, MCH 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.

MCH Group Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, MCH Group's Beneish M-Score distribution charts can be found below:

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

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63GF Score

MCH Group Ltd LTS:0QPF

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

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MCH 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 MCH 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 * 1.212

0.528 * 0.9677

0.404 * 0.8593

0.892 * 0.9239

0.115 * 0.9213

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0825

4.679 * -0.050728

0.327 * 1.0099

-2.69

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was CHF95.9 Mil.
Revenue was CHF386.2 Mil.
Gross Profit was CHF359.6 Mil.
Total Current Assets was CHF203.5 Mil.
Total Assets was CHF366.0 Mil.
Property, Plant and Equipment(Net PPE) was CHF138.5 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF19.5 Mil.
Selling, General, & Admin. Expense(SGA) was CHF44.2 Mil.
Total Current Liabilities was CHF162.4 Mil.
Long-Term Debt & Capital Lease Obligation was CHF88.1 Mil.
Net Income was CHF18.6 Mil.
Gross Profit was CHF0.0 Mil.
Cash Flow from Operations was CHF37.1 Mil.

Total Receivables was CHF85.7 Mil.
Revenue was CHF418.0 Mil.
Gross Profit was CHF376.6 Mil.
Total Current Assets was CHF158.3 Mil.
Total Assets was CHF337.4 Mil.
Property, Plant and Equipment(Net PPE) was CHF153.4 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF19.7 Mil.
Selling, General, & Admin. Expense(SGA) was CHF44.2 Mil.
Total Current Liabilities was CHF102.8 Mil.
Long-Term Debt & Capital Lease Obligation was CHF125.9 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)
	=	(95.921 / 386.195)	/	(85.661 / 418.004)
	=	0.248375	/	0.204929
	=	1.212

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)
	=	(376.645 / 418.004)	/	(359.599 / 386.195)
	=	0.901056	/	0.931133
	=	0.9677

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 - (203.513 + 138.547) / 365.992)	/	(1 - (158.326 + 153.428) / 337.43)
	=	0.065389	/	0.076093
	=	0.8593

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
	=	386.195	/	418.004
	=	0.9239

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))
	=	(19.69 / (19.69 + 153.428))	/	(19.512 / (19.512 + 138.547))
	=	0.113737	/	0.123448
	=	0.9213

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)
	=	(44.171 / 386.195)	/	(44.166 / 418.004)
	=	0.114375	/	0.105659
	=	1.0825

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)
	=	((88.087 + 162.401) / 365.992)	/	((125.871 + 102.797) / 337.43)
	=	0.684408	/	0.677675
	=	1.0099

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
	=	(18.574 - 0	-	37.14)	/	365.992
	=	-0.050728

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.

MCH Group has a M-score of -2.69 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 -2.69 mean?

MCH Group (LTS:0QPF) has a Beneish M-Score of -2.69 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on MCH Group and its competitors. According to the industry distribution chart, MCH Group ranks #412 out of 983 companies in the Media - Diversified industry, placing it in the top 41.9%.

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

MCH Group's current Beneish M-Score is -2.69. Based on the distribution chart, MCH Group ranks #412 out of 983 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, MCH Group has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does MCH Group's Beneish M-Score compare to APP and OMC?

According to the Media - Diversified industry distribution chart, MCH Group ranks #412 out of 983 companies for Beneish M-Score. This puts MCH 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 Media - Diversified company?

A good Beneish M-Score depends on the Media - Diversified 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 MCH Group and its competitors. MCH Group's current Beneish M-Score is -2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is MCH Group stock overvalued right now?

Based on GuruFocus' analysis, MCH Group (LTS:0QPF) is currently considered Significantly Overvalued. The stock's GF Value™ is CHF3.78, compared to a current price of CHF6.00 — trading 58.7% above its estimated fair value. The current Beneish M-Score is -2.69. MCH Group's overall GF Score™ is 63/100 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 MCH Group (LTS:0QPF), the current Beneish M-Score is -2.69 as of Jun. 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 MCH Group (LTS:0QPF) Overvalued in 2026?

Based on GuruFocus' analysis, MCH Group stock appears to be overvalued. The current stock price of CHF6.00 is trading 58.7% above its estimated GF Value™ of CHF3.78. GuruFocus considers MCH Group to be Significantly Overvalued.

Key valuation signals for LTS:0QPF:

Beneish M-Score: -2.69
GF Value™: CHF3.78 vs. price of CHF6.00 (58.7% above fair value)
GF Score™: 63/100 with 5 warning signs

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

MCH Group Business Description

Industry Communication Services Media - Diversified

Comparable Companies XSWX:APGN APP XPAR:PUB OMC SZSE:002027 TTD SZSE:300058 SZSE:002131 TSE:4324 XPAR:DEC TSE:4751 LSE:WPP SZSE:301171 HKSE:01860 TSE:2433 XTER:SAX BOM:542752 SZSE:002400 MGNI SHSE:600986

Other Exchanges MCHNz:UK MCHN:Switzerland

Address Messeplatz 10, Basel, CHE, 4005

Website https://www.mch-group.com

MCH Group Ltd is an international live-marketing company with a services network spanning the entire exhibition and event market. It also has its presence in Europe without Switzerland, North and South America, Asia, Pacific and Africa. The company has three segments Community Platforms, Experience Marketing, and Corporate Functions.

63GF Score

Get the complete analysis for LTS:0QPF

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

CHF6.00

Price

CHF3.78

GF Value

View LTS:0QPF Analysis

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