Mullen GroupMLLGF 78 Beneish M-Score is -2.69 as of Jun. 25, 2026. GuruFocus rates MLLGF with a GF Score™ of 78/100 and a GF Value™ of $11.58 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 966 Transportation companies, Mullen Group ranks better than 59.94% 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 -2.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Mullen Group's Beneish M-Score or its related term are showing as below:
MLLGF'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.13 Med: -2.78 Max: -2.18
Current: -2.69
During the past 13 years, the highest Beneish M-Score of Mullen Group was -2.18. The lowest was -3.13. And the median was -2.78.
Mullen Group Beneish M-Score Related Terms
Mullen Group Beneish M-Score Historical Data
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The historical data trend for Mullen Group'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.
MLLGF vs ODFL, XPO, SAIA: Beneish M-Score Comparison
For the Trucking subindustry, Mullen Group'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.
Mullen Group Beneish M-Score vs Transportation Industry
For the Transportation industry and Industrials sector, Mullen Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mullen Group'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 Mullen Group 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 * 1.0931
+
0.528 * 1.0183
+
0.404 * 1.1155
+
0.892 * 1.0944
+
0.115 * 0.9869
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1021
+
4.679 * -0.078762
-
0.327 * 0.9836
=
-2.64
* 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))
=
(98.128 / (98.128 + 865.575))
/
(109.187 / (109.187 + 949.087))
=
0.101824
/
0.103175
=
0.9869
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
=
(68.64 - 4.322
-
213.122)
/
1889.291
=
-0.078762
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.
Mullen Group has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.
Mullen Group (MLLGF) has a Beneish M-Score of -2.69 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mullen Group and its competitors. According to the industry distribution chart, Mullen Group ranks #387 out of 966 companies in the Transportation industry, placing it in the top 40.1%.
Is Mullen Group's Beneish M-Score too high?
Mullen Group's current Beneish M-Score is -2.69. Based on the distribution chart, Mullen Group ranks #387 out of 966 companies in the Transportation industry, which is above the industry midpoint. Overall, Mullen Group has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mullen Group's Beneish M-Score compare to ODFL and XPO?
According to the Transportation industry distribution chart, Mullen Group ranks #387 out of 966 companies for Beneish M-Score. This puts Mullen Group in the upper 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Mullen Group and its competitors. Mullen Group's current Beneish M-Score is -2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mullen Group stock overvalued right now?
Based on GuruFocus' analysis, Mullen Group (MLLGF) is currently considered Significantly Overvalued. The stock's GF Value™ is $11.58, compared to a current price of $15.37 — trading 32.8% above its estimated fair value. The current Beneish M-Score is -2.69. Mullen Group's overall GF Score™ is 78/100 with 10 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 Mullen Group (MLLGF), the current Beneish M-Score is -2.69 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 Mullen Group (MLLGF) Overvalued in 2026?
Based on GuruFocus' analysis, Mullen Group stock appears to be overvalued.
The current stock price of $15.37 is trading 32.8% above its estimated GF Value™ of $11.58.
GuruFocus considers Mullen Group to be Significantly Overvalued.
Key valuation signals for MLLGF:
Beneish M-Score: -2.69
GF Value™: $11.58 vs. price of $15.37 (32.8% above fair value)
No single metric tells the full story. See the MLLGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mullen Group Ltd is a logistics provider with a network of independently operated businesses providing a wide range of service offerings, including less-than-truckload, truckload, Specialized & Industrial Services, warehousing and logistics, U.S. and International Logistics, and Corporate. The segments of the company are Less-Than-Truckload, Logistics and Warehousing, Specialized and Industrial Services, U.S. and International Logistics, and Corporate segment. The company derives the majority of its revenue from the Less-Than-Truckload segment and geographical revenue from Canada. The company also provides a diverse set of specialized services related to the energy, mining, forestry, and construction industries in western Canada.
78GF Score
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