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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 -3.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Lumen Technologies's Beneish M-Score or its related term are showing as below:
MEX:LUMN'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.58 Med: -2.95 Max: -2.22
Current: -3.58
During the past 13 years, the highest Beneish M-Score of Lumen Technologies was -2.22. The lowest was -3.58. And the median was -2.95.
Lumen Technologies Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Lumen Technologies'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:LUMN vs IRDM, LBRDA, TDS: Beneish M-Score Comparison
For the Telecom Services subindustry, Lumen Technologies'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.
Lumen Technologies Beneish M-Score vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Lumen Technologies's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lumen Technologies'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 Lumen Technologies 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 * 0.9279
+
0.528 * 0.9985
+
0.404 * 1.0385
+
0.892 * 0.8299
+
0.115 * 1.1714
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.2792
+
4.679 * -0.211866
-
0.327 * 0.88
=
-3.66
* 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))
=
(57270.85 / (57270.85 + 351447.018))
/
(48129.478 / (48129.478 + 354214.7))
=
0.140123
/
0.119623
=
1.1714
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
=
(-18541.548 - -1726.988
-
96981.73)
/
537115.118
=
-0.211866
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.
Lumen Technologies has a M-score of -3.66 suggests that the company is unlikely to be a manipulator.
Lumen Technologies (MEX:LUMN) has a Beneish M-Score of -3.58 as of Aug. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lumen Technologies and its competitors. According to the industry distribution chart, Lumen Technologies ranks #28 out of 352 companies in the Telecommunication Services industry, placing it in the top 8%.
Is Lumen Technologies' Beneish M-Score too high?
Lumen Technologies' current Beneish M-Score is -3.58. Based on the distribution chart, Lumen Technologies ranks #28 out of 352 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Lumen Technologies has a GF Score™ of 36/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Lumen Technologies' Beneish M-Score compare to IRDM and LBRDA?
According to the Telecommunication Services industry distribution chart, Lumen Technologies ranks #28 out of 352 companies for Beneish M-Score. This places Lumen Technologies in the top 8% 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 Telecommunication Services company?
A good Beneish M-Score depends on the Telecommunication Services 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 Lumen Technologies and its competitors. Lumen Technologies's current Beneish M-Score is -3.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lumen Technologies stock overvalued right now?
Based on GuruFocus' analysis, Lumen Technologies (MEX:LUMN) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN80.74, compared to a current price of MXN107.00 — trading 32.5% above its estimated fair value. The current Beneish M-Score is -3.58. Lumen Technologies' overall GF Score™ is 36/100 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 Lumen Technologies (MEX:LUMN), the current Beneish M-Score is -3.58 as of Aug. 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 Lumen Technologies (MEX:LUMN) Overvalued in 2026?
Based on GuruFocus' analysis, Lumen Technologies stock appears to be overvalued.
The current stock price of MXN107.00 is trading 32.5% above its estimated GF Value™ of MXN80.74.
GuruFocus considers Lumen Technologies to be Significantly Overvalued.
Key valuation signals for MEX:LUMN:
Beneish M-Score: -3.58
GF Value™: MXN80.74 vs. price of MXN107.00 (32.5% above fair value)
No single metric tells the full story. See the MEX:LUMN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lumen Technologies is one of the largest telecommunications carriers serving global enterprises. The merger with Level 3 in 2017, the 2022 divestiture of much of its local phone business in rural areas, and the 2026 sale of its remaining consumer fiber network to AT&T have shifted the company's operations away from the legacy consumer business and toward enterprise services, which account for about 85%-90% of revenue. Lumen offers businesses a full suite of communications services, providing colocation and data center services, data transportation, phone service, and internet access.
36GF Score
Get the complete analysis for MEX:LUMN
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