Innovative EyewearLUCY +0.11%56 Beneish M-Score is -3.07 as of Jun. 26, 2026. GuruFocus rates LUCY with a GF Score™ of 56/100 and a GF Value™ of $1.82 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 766 Medical Devices & Instruments companies, Innovative Eyewear ranks better than 79.77% 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 -3.07 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Innovative Eyewear's Beneish M-Score or its related term are showing as below:
LUCY'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.59 Med: -3.09 Max: 4.29
Current: -3.07
During the past 7 years, the highest Beneish M-Score of Innovative Eyewear was 4.29. The lowest was -5.59. And the median was -3.09.
Innovative Eyewear Beneish M-Score Related Terms
Innovative Eyewear Beneish M-Score Historical Data
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The historical data trend for Innovative Eyewear'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.
LUCY vs CUPR, MHUAF, NXGL: Beneish M-Score Comparison
For the Medical Instruments & Supplies subindustry, Innovative Eyewear'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.
Innovative Eyewear Beneish M-Score vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Innovative Eyewear's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Innovative Eyewear'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 Innovative Eyewear 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 * 0.4586
+
0.528 * 1.4335
+
0.404 * 1.1796
+
0.892 * 1.7443
+
0.115 * 0.7588
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.6837
+
4.679 * -0.158966
-
0.327 * 2.0445
=
-3.07
* 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))
=
(0.154 / (0.154 + 0.127))
/
(0.13 / (0.13 + 0.05))
=
0.548043
/
0.722222
=
0.7588
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
=
(-8.121 - 0.841
-
-7.455)
/
9.48
=
-0.158966
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.
Innovative Eyewear has a M-score of -3.07 suggests that the company is unlikely to be a manipulator.
Innovative Eyewear (LUCY) has a Beneish M-Score of -3.07 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Innovative Eyewear and its competitors. According to the industry distribution chart, Innovative Eyewear ranks #155 out of 766 companies in the Medical Devices & Instruments industry, placing it in the top 20.2%.
Is Innovative Eyewear's Beneish M-Score too high?
Innovative Eyewear's current Beneish M-Score is -3.07. Based on the distribution chart, Innovative Eyewear ranks #155 out of 766 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Innovative Eyewear has a GF Score™ of 56/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Innovative Eyewear's Beneish M-Score compare to CUPR and MHUAF?
According to the Medical Devices & Instruments industry distribution chart, Innovative Eyewear ranks #155 out of 766 companies for Beneish M-Score. This places Innovative Eyewear in the top 20% 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 a Medical Devices & Instruments company?
A good Beneish M-Score depends on the Medical Devices & Instruments 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 Innovative Eyewear and its competitors. Innovative Eyewear's current Beneish M-Score is -3.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Innovative Eyewear stock overvalued right now?
Based on GuruFocus' analysis, Innovative Eyewear (LUCY) is currently considered Possible Value Trap. The stock's GF Value™ is $1.82, compared to a current price of $0.74 — trading 59.3% below its estimated fair value. The current Beneish M-Score is -3.07. Innovative Eyewear's overall GF Score™ is 56/100 with 4 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 Innovative Eyewear (LUCY), the current Beneish M-Score is -3.07 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 Innovative Eyewear (LUCY) Overvalued in 2026?
Based on GuruFocus' analysis, Innovative Eyewear stock appears to be undervalued.
The current stock price of $0.74 is trading 59.3% below its estimated GF Value™ of $1.82.
GuruFocus considers Innovative Eyewear to be Possible Value Trap.
Key valuation signals for LUCY:
Beneish M-Score: -3.07
GF Value™: $1.82 vs. price of $0.74 (59.3% below fair value)
No single metric tells the full story. See the LUCY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Innovative Eyewear Inc is engaged in developing and selling eyeglasses and sunglasses, which are designed to allow customers to remain connected to their digital lives, while also offering prescription eyewear and sun protection. Its products include Lucyd Lyte, Nautica, Eddie Bauer, Lucyd Armor line, and Reebok. The firm derive substantially all of its revenue from the sale of smart glasses and custom lenses.
56GF Score
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