Daimler Truck Holding AG (MEX:DTG N) Beneish M-Score: -2.69 (As of Jul. 14, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MEX:DTG N Daimler Truck Holding AG MEX:DTG N
77 GF Score
Price MXN844.53
GF Value MXN680.34
! 9 Warning Signs
View Full Analysis

What is Daimler Truck Holding AG Beneish M-Score?

Daimler Truck Holding AG MEX:DTG N 77 Beneish M-Score is -2.69 as of Jul. 14, 2026. GuruFocus rates MEX:DTG N with a GF Score™ of 77/100 and a GF Value™ of MXN680.34. The stock has 9 warning signs investors should review. Among 205 Farm & Heavy Construction Machinery companies, Daimler Truck Holding AG ranks better than 70.24% 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 Daimler Truck Holding AG's Beneish M-Score or its related term are showing as below:

MEX:DTG N' s Beneish M-Score Range Over the Past 10 Years
Min: -2.73   Med: -2.24   Max: -1.85
Current: -2.69

During the past 8 years, the highest Beneish M-Score of Daimler Truck Holding AG was -1.85. The lowest was -2.73. And the median was -2.24.


Daimler Truck Holding AG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Daimler Truck Holding AG'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.

Daimler Truck Holding AG Beneish M-Score Chart

Daimler Truck Holding AG Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -1.95 -2.19 -2.32 -2.73

Daimler Truck Holding AG Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -2.37 -2.57 -2.69 -2.73 -2.69

MEX:DTG N vs CAT, DE, PCAR: Beneish M-Score Comparison

For the Farm & Heavy Construction Machinery subindustry, Daimler Truck Holding AG'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.


Daimler Truck Holding AG Beneish M-Score vs Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, Daimler Truck Holding AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Daimler Truck Holding AG's Beneish M-Score falls into.


MEX:DTG N
77GF Score
Daimler Truck Holding AG MEX:DTG N
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Daimler Truck Holding AG 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 Daimler Truck Holding AG 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 * 0.9434+0.528 * 1.1179+0.404 * 0.9379+0.892 * 0.8895+0.115 * 0.9503
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9549+4.679 * -0.033299-0.327 * 1.0252
=-2.76

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was MXN299,906 Mil.
Revenue was 208095.273 + 248727.451 + 227170.956 + 253531.812 = MXN937,525 Mil.
Gross Profit was 36878.435 + 45984.112 + 39874.951 + 46280.306 = MXN169,018 Mil.
Total Current Assets was MXN893,880 Mil.
Total Assets was MXN1,556,253 Mil.
Property, Plant and Equipment(Net PPE) was MXN232,299 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN22,025 Mil.
Selling, General, & Admin. Expense(SGA) was MXN85,102 Mil.
Total Current Liabilities was MXN495,284 Mil.
Long-Term Debt & Capital Lease Obligation was MXN419,901 Mil.
Net Income was 3648.234 + 10310.055 + 9344.346 + 6015.788 = MXN29,318 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = MXN0 Mil.
Cash Flow from Operations was 5420.234 + 37908.956 + 27451.708 + 10359.318 = MXN81,140 Mil.
Total Receivables was MXN357,388 Mil.
Revenue was 254522.125 + 288376.459 + 266114.077 + 245023.983 = MXN1,054,037 Mil.
Gross Profit was 54761.625 + 54923.65 + 51793.575 + 50957.1 = MXN212,436 Mil.
Total Current Assets was MXN896,290 Mil.
Total Assets was MXN1,665,607 Mil.
Property, Plant and Equipment(Net PPE) was MXN278,519 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN24,979 Mil.
Selling, General, & Admin. Expense(SGA) was MXN100,197 Mil.
Total Current Liabilities was MXN514,374 Mil.
Long-Term Debt & Capital Lease Obligation was MXN441,035 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)
=(299905.69 / 937525.492) / (357388.166 / 1054036.644)
=0.319891 / 0.339066
=0.9434

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)
=(212435.95 / 1054036.644) / (169017.804 / 937525.492)
=0.201545 / 0.180281
=1.1179

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 - (893879.897 + 232298.701) / 1556253.281) / (1 - (896290.33 + 278519.041) / 1665607.118)
=0.276353 / 0.294666
=0.9379

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
=937525.492 / 1054036.644
=0.8895

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))
=(24978.619 / (24978.619 + 278519.041)) / (22025.498 / (22025.498 + 232298.701))
=0.082303 / 0.086604
=0.9503

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)
=(85102.082 / 937525.492) / (100196.772 / 1054036.644)
=0.090773 / 0.09506
=0.9549

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)
=((419901.322 + 495284.262) / 1556253.281) / ((441034.558 + 514374.44) / 1665607.118)
=0.58807 / 0.57361
=1.0252

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
=(29318.423 - 0 - 81140.216) / 1556253.281
=-0.033299

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.

Daimler Truck Holding AG has a M-score of -2.76 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?
Daimler Truck Holding AG (MEX:DTG N) has a Beneish M-Score of -2.69 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Daimler Truck Holding AG and its competitors. According to the industry distribution chart, Daimler Truck Holding AG ranks #61 out of 205 companies in the Farm & Heavy Construction Machinery industry, placing it in the top 29.8%.
Is Daimler Truck Holding AG's Beneish M-Score too high?
Daimler Truck Holding AG's current Beneish M-Score is -2.69. Based on the distribution chart, Daimler Truck Holding AG ranks #61 out of 205 companies in the Farm & Heavy Construction Machinery industry, which is above the industry midpoint. Overall, Daimler Truck Holding AG has a GF Score™ of 77/100, reflecting its overall financial health beyond just this single metric.
How does Daimler Truck Holding AG's Beneish M-Score compare to CAT and DE?
According to the Farm & Heavy Construction Machinery industry distribution chart, Daimler Truck Holding AG ranks #61 out of 205 companies for Beneish M-Score. This puts Daimler Truck Holding AG 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 Farm & Heavy Construction Machinery company?
A good Beneish M-Score depends on the Farm & Heavy Construction Machinery 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 Daimler Truck Holding AG and its competitors. Daimler Truck Holding AG'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 Daimler Truck Holding AG stock overvalued right now?
Daimler Truck Holding AG (MEX:DTG N) has a current Beneish M-Score of -2.69. The stock's GF Value™ is MXN680.34, compared to a current price of MXN844.53 — trading 24.1% above its estimated fair value. The current Beneish M-Score is -2.69. Daimler Truck Holding AG's overall GF Score™ is 77/100 with 9 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 Daimler Truck Holding AG (MEX:DTG N), the current Beneish M-Score is -2.69 as of Jul. 14, 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 Daimler Truck Holding AG (MEX:DTG N) Overvalued in 2026?

Based on GuruFocus' analysis, Daimler Truck Holding AG stock appears to be overvalued. The current stock price of MXN844.53 is trading 24.1% above its estimated GF Value™ of MXN680.34.

Key valuation signals for MEX:DTG N:

  • Beneish M-Score: -2.69
  • GF Value™: MXN680.34 vs. price of MXN844.53 (24.1% above fair value)
  • GF Score™: 77/100 with 9 warning signs

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


Daimler Truck Holding AG Business Description

Address Fasanenweg 10, Leinfelden-Echterdingen, BW, DEU, 70771
Daimler Truck Holding AG is a commercial vehicle manufacturer. It offers light, medium, and heavy-duty trucks, city and intercity buses, coaches, and bus chassis under various brands, including Setra, Rizon, Fuso, Bharat Benz, Western Star, Freightliner, and others. The Group's operating segments are: Trucks North America, Mercedes-Benz Trucks, Trucks Asia, Daimler Buses, and Financial Services. Maximum revenue is generated from the Trucks North America segment, which develops, manufactures, and sells trucks under the brands Freightliner and Western Star. This segment's product range also includes buses from Thomas Built Buses, bus chassis, and Freightliner Custom Chassis Corp. chassis in North America. Geographically, the Group derives the majority of its revenue from North America.
77GF Score

Get the complete analysis for MEX:DTG N

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

MXN844.53
Price
MXN680.34
GF Value