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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 -3.54 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Cardlytics's Beneish M-Score or its related term are showing as below:
MEX:CDLX'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.8 Med: -3.07 Max: 6.9
Current: -3.54
During the past 11 years, the highest Beneish M-Score of Cardlytics was 6.90. The lowest was -3.80. And the median was -3.07.
The historical data trend for Cardlytics'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.
MEX:CDLX vs WIMI, MOBQ, ACCS: Beneish M-Score Comparison
For the Advertising Agencies subindustry, Cardlytics'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.
Cardlytics Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Cardlytics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cardlytics'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 Cardlytics 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 * 1.071
+
0.528 * 0.8881
+
0.404 * 0.9665
+
0.892 * 0.6314
+
0.115 * 1.0049
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9618
+
4.679 * -0.149331
-
0.327 * 1.2758
=
-3.60
* 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))
=
(555.606 / (555.606 + 132.219))
/
(408.395 / (408.395 + 99.686))
=
0.807772
/
0.803799
=
1.0049
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
=
(-1822.032 - -1225.069
-
14.809)
/
4096.763
=
-0.149331
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.
Cardlytics has a M-score of -3.60 suggests that the company is unlikely to be a manipulator.
Cardlytics (MEX:CDLX) has a Beneish M-Score of -3.54 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cardlytics and its competitors. According to the industry distribution chart, Cardlytics ranks #112 out of 969 companies in the Media - Diversified industry, placing it in the top 11.6%.
Is Cardlytics' Beneish M-Score too high?
Cardlytics' current Beneish M-Score is -3.54. Based on the distribution chart, Cardlytics ranks #112 out of 969 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Cardlytics has a GF Score™ of 32/100, reflecting its overall financial health beyond just this single metric.
How does Cardlytics' Beneish M-Score compare to WIMI and MOBQ?
According to the Media - Diversified industry distribution chart, Cardlytics ranks #112 out of 969 companies for Beneish M-Score. This places Cardlytics in the top 12% 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 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 Cardlytics and its competitors. Cardlytics's current Beneish M-Score is -3.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cardlytics stock overvalued right now?
Cardlytics (MEX:CDLX) has a current Beneish M-Score of -3.54. The stock's GF Value™ is MXN4,328.37, compared to a current price of MXN1,074.00 — trading 75.2% below its estimated fair value. The current Beneish M-Score is -3.54. Cardlytics' overall GF Score™ is 32/100 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 Cardlytics (MEX:CDLX), the current Beneish M-Score is -3.54 as of Aug. 10, 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 Cardlytics (MEX:CDLX) Overvalued in 2026?
Based on GuruFocus' analysis, Cardlytics stock appears to be undervalued.
The current stock price of MXN1,074.00 is trading 75.2% below its estimated GF Value™ of MXN4,328.37.
Key valuation signals for MEX:CDLX:
Beneish M-Score: -3.54
GF Value™: MXN4,328.37 vs. price of MXN1,074.00 (75.2% below fair value)
No single metric tells the full story. See the MEX:CDLX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cardlytics Inc is a commerce media platform that is designed to make commerce smarter and rewarding for everyone. At the core of its commerce media platform is the financial media network that it runs within its partners' digital channels, which includes online and mobile applications (the Cardlytics platform). Additionally, it operates an identity resolution platform that utilizes point-of-sale (POS) data, including product-level purchase data, to enable marketers to perform analytics and targeted loyalty marketing and also measure the impact of their marketing (the Bridg platform). It operates in three segments: the Cardlytics platform in the U.S.; the Cardlytics platform in the U.K.; and the Bridg platform. The majority of the revenue is derived from the Cardlytics platform.
32GF Score
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