PJSC TNS Energo Kuban (MIC:KBSB) Beneish M-Score: 0.00 (As of Jun. 27, 2026)

What is PJSC TNS Energo Kuban Beneish M-Score?

PJSC TNS Energo Kuban MIC:KBSB -3.51% 17 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates MIC:KBSB with a GF Score™ of 17/100.

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.

The historical rank and industry rank for PJSC TNS Energo Kuban's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of PJSC TNS Energo Kuban was 0.00. The lowest was 0.00. And the median was 0.00.

PJSC TNS Energo Kuban Beneish M-Score Related Terms

PJSC TNS Energo Kuban Beneish M-Score Historical Data

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The historical data trend for PJSC TNS Energo Kuban'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.

PJSC TNS Energo Kuban Beneish M-Score Chart

PJSC TNS Energo Kuban Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.47

-0.37

0.00

-0.81

PJSC TNS Energo Kuban Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Jun20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	0.00	0.00	-0.81

MIC:KBSB vs NEE, SO, DUK: Beneish M-Score Comparison

For the Utilities - Regulated Electric subindustry, PJSC TNS Energo Kuban'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.

PJSC TNS Energo Kuban Beneish M-Score vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, PJSC TNS Energo Kuban's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PJSC TNS Energo Kuban's Beneish M-Score falls into.

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PJSC TNS Energo Kuban MIC:KBSB

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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PJSC TNS Energo Kuban 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 PJSC TNS Energo Kuban for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.4277

0.528 * 0.9333

0.404 * 3.2458

0.892 * 1.1254

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0287

4.679 * 0.243585

0.327 * 0.7567

-0.81

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was ₽3,807 Mil.
Revenue was 19434.258 + 22080.226 + 16951.282 + 21731.218 = ₽80,197 Mil.
Gross Profit was 10247.399 + 27504.522 + -7081.93 + 10987.563 = ₽41,658 Mil.
Total Current Assets was ₽6,575 Mil.
Total Assets was ₽13,965 Mil.
Property, Plant and Equipment(Net PPE) was ₽2,187 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽0 Mil.
Selling, General, & Admin. Expense(SGA) was ₽36,480 Mil.
Total Current Liabilities was ₽8,319 Mil.
Long-Term Debt & Capital Lease Obligation was ₽0 Mil.
Net Income was -2429.316 + 3915.665 + 1485.494 + 429.925 = ₽3,402 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₽0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = ₽0 Mil.

Total Receivables was ₽7,909 Mil.
Revenue was 18718.217 + 19051.699 + 14441.091 + 19049.286 = ₽71,260 Mil.
Gross Profit was 9290.531 + 23450.72 + -6871.006 + 8675.352 = ₽34,546 Mil.
Total Current Assets was ₽9,304 Mil.
Total Assets was ₽12,767 Mil.
Property, Plant and Equipment(Net PPE) was ₽1,997 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽0 Mil.
Selling, General, & Admin. Expense(SGA) was ₽31,510 Mil.
Total Current Liabilities was ₽10,051 Mil.
Long-Term Debt & Capital Lease Obligation was ₽0 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)
	=	(3806.964 / 80196.984)	/	(7909.262 / 71260.293)
	=	0.04747	/	0.110991
	=	0.4277

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)
	=	(34545.597 / 71260.293)	/	(41657.554 / 80196.984)
	=	0.48478	/	0.51944
	=	0.9333

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 - (6575.472 + 2186.853) / 13965.415)	/	(1 - (9304.097 + 1997.293) / 12766.825)
	=	0.37257	/	0.114785
	=	3.2458

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
	=	80196.984	/	71260.293
	=	1.1254

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 + 1997.293))	/	(0 / (0 + 2186.853))
	=	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)
	=	(36480.357 / 80196.984)	/	(31509.805 / 71260.293)
	=	0.454884	/	0.442179
	=	1.0287

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)
	=	((0 + 8318.98) / 13965.415)	/	((0 + 10050.707) / 12766.825)
	=	0.595684	/	0.787252
	=	0.7567

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
	=	(3401.768 - 0	-	0)	/	13965.415
	=	0.243585

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.

PJSC TNS Energo Kuban has a M-score of -0.81 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

PJSC TNS Energo Kuban (MIC:KBSB) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PJSC TNS Energo Kuban and its competitors.

Is PJSC TNS Energo Kuban's Beneish M-Score too high?

PJSC TNS Energo Kuban's current Beneish M-Score is 0.00. Overall, PJSC TNS Energo Kuban has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.

How does PJSC TNS Energo Kuban's Beneish M-Score compare to NEE and SO?

PJSC TNS Energo Kuban's Beneish M-Score of 0.00 can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?

A good Beneish M-Score depends on the Utilities - Regulated 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 PJSC TNS Energo Kuban and its competitors. PJSC TNS Energo Kuban's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is PJSC TNS Energo Kuban stock overvalued right now?

PJSC TNS Energo Kuban (MIC:KBSB) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. PJSC TNS Energo Kuban's overall GF Score™ is 17/100. 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 PJSC TNS Energo Kuban (MIC:KBSB), the current Beneish M-Score is 0.00 as of Jun. 27, 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.

PJSC TNS Energo Kuban Business Description

Industry Utilities Utilities - Regulated

Comparable Companies MIC:MRKY MIC:RZSB MIC:SAGO MIC:MRKZ MIC:VGSB MIC:KRSB MIC:MRKV MIC:TASB MIC:SARE MIC:NNSB NEE SO DUK LSE:NG.AEP D PCG PEG BOM:532555 XEL

Address Gimnazicheskaya street, building 55/1, Moscow, RUS, 127006

Website https://corp.tns-e.ru

PJSC TNS Energo Kuban is engaged in the purchase and sale of electricity in wholesale and retail markets.

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