Legal & General Group (MEX:LGENN) Beneish M-Score: -2.04 (As of Jun. 24, 2026)


MEX:LGENN Legal & General Group PLC MEX:LGENN
44 GF Score
Price MXN63.35
! 5 Warning Signs
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What is Legal & General Group Beneish M-Score?

Legal & General Group MEX:LGENN 44 Beneish M-Score is -2.04 as of Jun. 24, 2026. GuruFocus rates MEX:LGENN with a GF Score™ of 44/100. The stock has 5 warning signs investors should review. Among 955 Asset Management companies, Legal & General Group ranks worse than 58.01% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.04 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:LGENN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.53   Med: -1.38   Max: 63.54
Current: -2.04

During the past 13 years, the highest Beneish M-Score of Legal & General Group was 63.54. The lowest was -3.53. And the median was -1.38.

MEX:LGENN
44GF Score
Legal & General Group PLC MEX:LGENN
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Legal & General 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 Legal & General Group 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 * 0.364+0.528 * 1+0.404 * 1.0002+0.892 * 1.8645+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.008488-0.327 * 0.5846
=-2.20

* 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 MXN150,819 Mil.
Revenue was MXN1,013,309 Mil.
Gross Profit was MXN1,013,309 Mil.
Total Current Assets was MXN0 Mil.
Total Assets was MXN14,034,997 Mil.
Property, Plant and Equipment(Net PPE) was MXN8,003 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN0 Mil.
Selling, General, & Admin. Expense(SGA) was MXN0 Mil.
Total Current Liabilities was MXN0 Mil.
Long-Term Debt & Capital Lease Obligation was MXN111,361 Mil.
Net Income was MXN14,270 Mil.
Gross Profit was MXN23,767 Mil.
Cash Flow from Operations was MXN109,625 Mil.
 Total Receivables was MXN222,241 Mil.
Revenue was MXN543,487 Mil.
Gross Profit was MXN543,487 Mil.
Total Current Assets was MXN0 Mil.
Total Assets was MXN14,347,641 Mil.
Property, Plant and Equipment(Net PPE) was MXN10,415 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN0 Mil.
Selling, General, & Admin. Expense(SGA) was MXN0 Mil.
Total Current Liabilities was MXN0 Mil.
Long-Term Debt & Capital Lease Obligation was MXN194,715 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)
=(150818.829 / 1013308.731) / (222241.081 / 543487.414)
=0.148838 / 0.408917
=0.364

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)
=(543487.414 / 543487.414) / (1013308.731 / 1013308.731)
=1 / 1
=1

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 - (0 + 8002.533) / 14034997.226) / (1 - (0 + 10414.667) / 14347640.584)
=0.99943 / 0.999274
=1.0002

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
=1013308.731 / 543487.414
=1.8645

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))
=(0 / (0 + 10414.667)) / (0 / (0 + 8002.533))
=0 / 0
=1

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)
=(0 / 1013308.731) / (0 / 543487.414)
=0 / 0
=1

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)
=((111360.554 + 0) / 14034997.226) / ((194714.721 + 0) / 14347640.584)
=0.007934 / 0.013571
=0.5846

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
=(14269.578 - 23766.56 - 109625.065) / 14034997.226
=-0.008488

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.

Legal & General Group has a M-score of -2.20 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 -2.04 mean?
Legal & General Group (MEX:LGENN) has a Beneish M-Score of -2.04 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Legal & General Group and its competitors. According to the industry distribution chart, Legal & General Group ranks #554 out of 955 companies in the Asset Management industry, placing it in the top 58%.
Is Legal & General Group's Beneish M-Score too high?
Legal & General Group's current Beneish M-Score is -2.04. Based on the distribution chart, Legal & General Group ranks #554 out of 955 companies in the Asset Management industry, which is below the industry midpoint. Overall, Legal & General Group has a GF Score™ of 44/100, reflecting its overall financial health beyond just this single metric.
How does Legal & General Group's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Legal & General Group ranks #554 out of 955 companies for Beneish M-Score. This places Legal & General Group in the lower 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 Legal & General Group and its competitors. Legal & General Group's current Beneish M-Score is -2.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Legal & General Group stock overvalued right now?
Legal & General Group (MEX:LGENN) has a current Beneish M-Score of -2.04. The current Beneish M-Score is -2.04. Legal & General Group's overall GF Score™ is 44/100 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 Legal & General Group (MEX:LGENN), the current Beneish M-Score is -2.04 as of Jun. 24, 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.

Legal & General Group Business Description

Address One Coleman Street, London, GBR, EC2R 5AA
Legal & General Group PLC operates across five reportable segments, comprising Institutional Retirement, Asset Management, Insurance, Retail Retirement and Corporate Investments. Its revenue includes insurance revenue, fees from fund management and investment contracts and other operational income from contracts with customers. The company operates in United Kingdom, USA and Rest of World.
44GF Score

Get the complete analysis for MEX:LGENN

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

MXN63.35
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