Midland ExplorationMIDLF 34 Beneish M-Score is -0.49 as of Jun. 25, 2026. GuruFocus rates MIDLF with a GF Score™ of 34/100 and a GF Value™ of $0.42 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 685 Metals & Mining companies, Midland Exploration ranks worse than 84.23% 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.
Warning Sign:
Beneish M-Score -0.49 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Midland Exploration's Beneish M-Score or its related term are showing as below:
MIDLF'
s Beneish M-Score Range Over the Past 10 Years
Min: -1460.69 Med: -0.84 Max: 157.37
Current: -0.49
During the past 13 years, the highest Beneish M-Score of Midland Exploration was 157.37. The lowest was -1460.69. And the median was -0.84.
Midland Exploration Beneish M-Score Related Terms
Midland Exploration Beneish M-Score Historical Data
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The historical data trend for Midland Exploration'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.
For the Other Industrial Metals & Mining subindustry, Midland Exploration'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.
Midland Exploration Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Midland Exploration's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Midland Exploration'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 Midland Exploration 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 * 1.9349
+
0.528 * 0.8955
+
0.404 * 0
+
0.892 * 2.5094
+
0.115 * 0.8519
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.4145
+
4.679 * 0.043083
-
0.327 * 0.9243
=
-0.42
* 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))
=
(0.018 / (0.018 + 25.009))
/
(0.024 / (0.024 + 28.412))
=
0.000719
/
0.000844
=
0.8519
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
=
(-1.325 - -0.922
-
-1.91)
/
34.979
=
0.043083
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.
Midland Exploration has a M-score of -0.42 signals that the company is likely to be a manipulator.
Midland Exploration (MIDLF) has a Beneish M-Score of -0.49 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Midland Exploration and its competitors. According to the industry distribution chart, Midland Exploration ranks #577 out of 685 companies in the Metals & Mining industry, placing it in the top 84.2%.
Is Midland Exploration's Beneish M-Score too high?
Midland Exploration's current Beneish M-Score is -0.49. Based on the distribution chart, Midland Exploration ranks #577 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Midland Exploration has a GF Score™ of 34/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Midland Exploration's Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Midland Exploration ranks #577 out of 685 companies for Beneish M-Score. This places Midland Exploration 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 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 Midland Exploration and its competitors. Midland Exploration's current Beneish M-Score is -0.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Midland Exploration stock overvalued right now?
Based on GuruFocus' analysis, Midland Exploration (MIDLF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.42, compared to a current price of $0.29 — trading 31.4% below its estimated fair value. The current Beneish M-Score is -0.49. Midland Exploration's overall GF Score™ is 34/100 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 Midland Exploration (MIDLF), the current Beneish M-Score is -0.49 as of Jun. 25, 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 Midland Exploration (MIDLF) Overvalued in 2026?
Based on GuruFocus' analysis, Midland Exploration stock appears to be undervalued.
The current stock price of $0.29 is trading 31.4% below its estimated GF Value™ of $0.42.
GuruFocus considers Midland Exploration to be Possible Value Trap.
Key valuation signals for MIDLF:
Beneish M-Score: -0.49
GF Value™: $0.42 vs. price of $0.29 (31.4% below fair value)
No single metric tells the full story. See the MIDLF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Midland Exploration Inc is a company engaged in the mining exploration business. The Corporation's operations include the acquisition and exploration of mining properties and it currently operates in a single segment, being the acquisition, exploration, and evaluation of exploration properties. All of the corporation's activities are conducted in Canada. Its projects include Casault, Heva, Jouvex, Lac Esther, Laflamme, Tete-Nord, and others.
34GF Score
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