Polyus PJSC (MIC:PLZL) Beneish M-Score: -3.39 (As of Jul. 05, 2026)

What is Polyus PJSC Beneish M-Score?

Polyus PJSC MIC:PLZL -0.40% 100 Beneish M-Score is -3.39 as of Jul. 05, 2026. GuruFocus rates MIC:PLZL with a GF Score™ of 100/100 and a GF Value™ of ₽23,710.43 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 681 Metals & Mining companies, Polyus PJSC ranks better than 89.43% 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 -3.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MIC:PLZL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.39 Med: -2.27 Max: 1.39
Current: -3.39

During the past 12 years, the highest Beneish M-Score of Polyus PJSC was 1.39. The lowest was -3.39. And the median was -2.27.

Polyus PJSC Beneish M-Score Related Terms

Polyus PJSC Beneish M-Score Historical Data

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The historical data trend for Polyus PJSC'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.

Polyus PJSC Beneish M-Score Chart

Polyus PJSC Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-3.39

-0.90

-2.64

1.39

-3.39

Polyus PJSC Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															-2.64	0.00	1.39	0.00	-3.39

MIC:PLZL vs NEM, AU, RGLD: Beneish M-Score Comparison

For the Gold subindustry, Polyus PJSC'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.

Polyus PJSC Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Polyus PJSC's Beneish M-Score distribution charts can be found below:

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

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Polyus PJSC MIC:PLZL

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

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Polyus PJSC 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 Polyus PJSC 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 * 0.3912

0.528 * 1.0689

0.404 * 1.0042

0.892 * 0.8777

0.115 * 1.6177

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7015

4.679 * -0.097535

0.327 * 0.8237

-3.39

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was ₽41,736 Mil.
Revenue was ₽693,445 Mil.
Gross Profit was ₽491,207 Mil.
Total Current Assets was ₽412,029 Mil.
Total Assets was ₽1,270,667 Mil.
Property, Plant and Equipment(Net PPE) was ₽701,236 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽42,848 Mil.
Selling, General, & Admin. Expense(SGA) was ₽7,155 Mil.
Total Current Liabilities was ₽92,852 Mil.
Long-Term Debt & Capital Lease Obligation was ₽791,703 Mil.
Net Income was ₽301,211 Mil.
Gross Profit was ₽0 Mil.
Cash Flow from Operations was ₽425,146 Mil.

Total Receivables was ₽121,549 Mil.
Revenue was ₽790,114 Mil.
Gross Profit was ₽598,262 Mil.
Total Current Assets was ₽477,350 Mil.
Total Assets was ₽1,121,650 Mil.
Property, Plant and Equipment(Net PPE) was ₽505,941 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽51,971 Mil.
Selling, General, & Admin. Expense(SGA) was ₽11,621 Mil.
Total Current Liabilities was ₽102,732 Mil.
Long-Term Debt & Capital Lease Obligation was ₽845,204 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)
	=	(41735.505 / 693445.359)	/	(121549.423 / 790114.128)
	=	0.060186	/	0.153838
	=	0.3912

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)
	=	(598261.549 / 790114.128)	/	(491207.025 / 693445.359)
	=	0.757184	/	0.708357
	=	1.0689

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 - (412028.809 + 701235.987) / 1270667.273)	/	(1 - (477350.415 + 505940.538) / 1121650.127)
	=	0.123874	/	0.123353
	=	1.0042

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
	=	693445.359	/	790114.128
	=	0.8777

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))
	=	(51971.282 / (51971.282 + 505940.538))	/	(42848.452 / (42848.452 + 701235.987))
	=	0.093153	/	0.057585
	=	1.6177

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)
	=	(7154.658 / 693445.359)	/	(11620.908 / 790114.128)
	=	0.010318	/	0.014708
	=	0.7015

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)
	=	((791702.664 + 92851.563) / 1270667.273)	/	((845204.333 + 102731.838) / 1121650.127)
	=	0.696134	/	0.845126
	=	0.8237

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
	=	(301211.105 - 0	-	425145.682)	/	1270667.273
	=	-0.097535

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.

Polyus PJSC has a M-score of -3.39 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 -3.39 mean?

Polyus PJSC (MIC:PLZL) has a Beneish M-Score of -3.39 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Polyus PJSC and its competitors. According to the industry distribution chart, Polyus PJSC ranks #72 out of 681 companies in the Metals & Mining industry, placing it in the top 10.6%.

Is Polyus PJSC's Beneish M-Score too high?

Polyus PJSC's current Beneish M-Score is -3.39. Based on the distribution chart, Polyus PJSC ranks #72 out of 681 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Polyus PJSC has a GF Score™ of 100/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Polyus PJSC's Beneish M-Score compare to NEM and AU?

According to the Metals & Mining industry distribution chart, Polyus PJSC ranks #72 out of 681 companies for Beneish M-Score. This places Polyus PJSC in the top 11% 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 Metals & Mining company?

A good Beneish M-Score depends on the Metals & Mining 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 Polyus PJSC and its competitors. Polyus PJSC's current Beneish M-Score is -3.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Polyus PJSC stock overvalued right now?

Based on GuruFocus' analysis, Polyus PJSC (MIC:PLZL) is currently considered Significantly Undervalued. The stock's GF Value™ is ₽23,710.43, compared to a current price of ₽1,924.40 — trading 91.9% below its estimated fair value. The current Beneish M-Score is -3.39. Polyus PJSC's overall GF Score™ is 100/100 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 Polyus PJSC (MIC:PLZL), the current Beneish M-Score is -3.39 as of Jul. 05, 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 Polyus PJSC (MIC:PLZL) Overvalued in 2026?

Based on GuruFocus' analysis, Polyus PJSC stock appears to be undervalued. The current stock price of ₽1,924.40 is trading 91.9% below its estimated GF Value™ of ₽23,710.43. GuruFocus considers Polyus PJSC to be Significantly Undervalued.

Key valuation signals for MIC:PLZL:

Beneish M-Score: -3.39
GF Value™: ₽23,710.43 vs. price of ₽1,924.40 (91.9% below fair value)
GF Score™: 100/100 with 4 warning signs

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

Polyus PJSC Business Description

Industry Basic Materials Metals & Mining

Comparable Companies MIC:RUAL NEM SHSE:601899 TSX:AEM TSX:ABX TSX:WPM TSX:FNV AU HKSE:02259 JSE:GFI TSX:K ASX:NST TSX:PAAS RGLD ASX:EVN CDE SHSE:600547 TSX:LUG TSX:AGI SHSE:600489

Address 3 Krasina Street, Building 1, Cab 801, Moscow, RUS, 123056

Website https://www.polyus.com

Polyus PJSC and its subsidiaries are engaged in the extraction, refining, and sale of gold. The mining and processing facilities of the company are in the Krasnoyarsk, Irkutsk, Magadan regions, and the Sakha Republic of the Russian Federation. The operating business segments are the Olimpiada business unit, the Blagodatnoye business unit, the Natalka business unit, the Verninskoye business unit, the Kuranakh business unit, the Exploration business unit, the Sukhoi Log business unit, and others.

100GF Score

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

₽1,924.40

Price

₽23,710.43

GF Value

View MIC:PLZL Analysis

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