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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 -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 Target Hospitality's Beneish M-Score or its related term are showing as below:
MEX:TH'
s Beneish M-Score Range Over the Past 10 Years
Min: -474.37 Med: -2.96 Max: -1.62
Current: -2.04
During the past 9 years, the highest Beneish M-Score of Target Hospitality was -1.62. The lowest was -474.37. And the median was -2.96.
Target Hospitality Beneish M-Score Related Terms
Target Hospitality Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Target Hospitality'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:TH vs TIC, CMPR, CBZ: Beneish M-Score Comparison
For the Specialty Business Services subindustry, Target Hospitality'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.
Target Hospitality Beneish M-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Target Hospitality's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Target Hospitality'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 Target Hospitality 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 * 0.8238
+
0.528 * 4.3105
+
0.404 * 0.9665
+
0.892 * 0.8574
+
0.115 * 0.9749
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1546
+
4.679 * -0.227647
-
0.327 * 1.097
=
-2.16
* 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))
=
(1421.736 / (1421.736 + 7584.407))
/
(1377.823 / (1377.823 + 7131.248))
=
0.157863
/
0.161924
=
0.9749
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
=
(-797.584 - 0
-
1417.275)
/
9729.363
=
-0.227647
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.
Target Hospitality has a M-score of -2.16 suggests that the company is unlikely to be a manipulator.
Target Hospitality (MEX:TH) has a Beneish M-Score of -2.04 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Target Hospitality and its competitors. According to the industry distribution chart, Target Hospitality ranks #814 out of 1022 companies in the Business Services industry, placing it in the top 79.6%.
Is Target Hospitality's Beneish M-Score too high?
Target Hospitality's current Beneish M-Score is -2.04. Based on the distribution chart, Target Hospitality ranks #814 out of 1022 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Target Hospitality has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Target Hospitality's Beneish M-Score compare to TIC and CMPR?
According to the Business Services industry distribution chart, Target Hospitality ranks #814 out of 1022 companies for Beneish M-Score. This places Target Hospitality 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 a Business Services company?
A good Beneish M-Score depends on the Business 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 Target Hospitality and its competitors. Target Hospitality'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 Target Hospitality stock overvalued right now?
Target Hospitality (MEX:TH) has a current Beneish M-Score of -2.04. The stock's GF Value™ is MXN83.98, compared to a current price of MXN188.36 — trading 124.3% above its estimated fair value. The current Beneish M-Score is -2.04. Target Hospitality's overall GF Score™ is 66/100 with 2 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 Target Hospitality (MEX:TH), the current Beneish M-Score is -2.04 as of Jul. 18, 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 Target Hospitality (MEX:TH) Overvalued in 2026?
Based on GuruFocus' analysis, Target Hospitality stock appears to be overvalued.
The current stock price of MXN188.36 is trading 124.3% above its estimated GF Value™ of MXN83.98.
Key valuation signals for MEX:TH:
Beneish M-Score: -2.04
GF Value™: MXN83.98 vs. price of MXN188.36 (124.3% above fair value)
No single metric tells the full story. See the MEX:TH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Target Hospitality Corp is a vertically integrated specialty rental and hospitality services company in the United States. The company provides vertically integrated specialty rental and comprehensive hospitality services, including catering food services, maintenance, housekeeping, grounds-keeping, on-site security, overall workforce lodge management, and laundry service. The company has three reportable segments: HFS - South, which provides specialty rental and hospitality services to the natural resources and development industry; WHS, which provides construction and hospitality solutions for critical mineral and data center projects; and Government, which provides specialty rental and hospitality services under government contracts.
66GF Score
Get the complete analysis for MEX:TH
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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