NHLPF (NAHL Group) Beneish M-Score: -2.76 (As of Jun. 26, 2026)

What is NAHL Group Beneish M-Score?

NAHL Group NHLPF 43 Beneish M-Score is -2.76 as of Jun. 26, 2026. GuruFocus rates NHLPF with a GF Score™ of 43/100 and a GF Value™ of $0.97. The stock has 3 warning signs investors should review. Among 989 Media - Diversified companies, NAHL Group ranks better than 62.99% 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 -2.76 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NHLPF' s Beneish M-Score Range Over the Past 10 Years
Min: -7.32 Med: -2.71 Max: -1.02
Current: -2.76

During the past 13 years, the highest Beneish M-Score of NAHL Group was -1.02. The lowest was -7.32. And the median was -2.71.

NAHL Group Beneish M-Score Related Terms

NAHL Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for NAHL 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.

NAHL Group Beneish M-Score Chart

NAHL Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.69

-2.72

-2.90

-7.32

-2.76

NAHL Group 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															-2.90	0.00	-7.32	0.00	-2.76

NHLPF vs APP, OMC, TTD: Beneish M-Score Comparison

For the Advertising Agencies subindustry, NAHL 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.

NAHL Group Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, NAHL Group's Beneish M-Score distribution charts can be found below:

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

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43GF Score

NAHL Group PLC NHLPF

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

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NAHL Group 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 NAHL Group 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 * 0.9396

0.528 * 0.9215

0.404 * 1.029

0.892 * 1.0927

0.115 * 1.4497

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.888

4.679 * -0.072482

0.327 * 0.8479

-2.70

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was $34.94 Mil.
Revenue was $53.61 Mil.
Gross Profit was $27.54 Mil.
Total Current Assets was $38.00 Mil.
Total Assets was $61.71 Mil.
Property, Plant and Equipment(Net PPE) was $1.98 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.91 Mil.
Selling, General, & Admin. Expense(SGA) was $15.81 Mil.
Total Current Liabilities was $30.15 Mil.
Long-Term Debt & Capital Lease Obligation was $1.23 Mil.
Net Income was $4.36 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $8.83 Mil.

Total Receivables was $34.03 Mil.
Revenue was $49.06 Mil.
Gross Profit was $23.23 Mil.
Total Current Assets was $37.58 Mil.
Total Assets was $60.56 Mil.
Property, Plant and Equipment(Net PPE) was $2.25 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.88 Mil.
Selling, General, & Admin. Expense(SGA) was $16.29 Mil.
Total Current Liabilities was $34.76 Mil.
Long-Term Debt & Capital Lease Obligation was $1.55 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)
	=	(34.936 / 53.605)	/	(34.029 / 49.058)
	=	0.65173	/	0.693648
	=	0.9396

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)
	=	(23.228 / 49.058)	/	(27.544 / 53.605)
	=	0.47348	/	0.513833
	=	0.9215

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 - (37.997 + 1.979) / 61.712)	/	(1 - (37.583 + 2.248) / 60.56)
	=	0.352217	/	0.342289
	=	1.029

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
	=	53.605	/	49.058
	=	1.0927

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))
	=	(1.884 / (1.884 + 2.248))	/	(0.908 / (0.908 + 1.979))
	=	0.455954	/	0.314513
	=	1.4497

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)
	=	(15.807 / 53.605)	/	(16.29 / 49.058)
	=	0.294879	/	0.332056
	=	0.888

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)
	=	((1.226 + 30.146) / 61.712)	/	((1.549 + 34.759) / 60.56)
	=	0.508361	/	0.599538
	=	0.8479

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
	=	(4.36 - 0	-	8.833)	/	61.712
	=	-0.072482

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.

NAHL Group has a M-score of -2.70 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 -2.76 mean?

NAHL Group (NHLPF) has a Beneish M-Score of -2.76 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on NAHL Group and its competitors. According to the industry distribution chart, NAHL Group ranks #366 out of 989 companies in the Media - Diversified industry, placing it in the top 37%.

Is NAHL Group's Beneish M-Score too high?

NAHL Group's current Beneish M-Score is -2.76. Based on the distribution chart, NAHL Group ranks #366 out of 989 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, NAHL Group has a GF Score™ of 43/100, reflecting its overall financial health beyond just this single metric.

How does NAHL Group's Beneish M-Score compare to APP and OMC?

According to the Media - Diversified industry distribution chart, NAHL Group ranks #366 out of 989 companies for Beneish M-Score. This puts NAHL 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 Media - Diversified company?

A good Beneish M-Score depends on the Media - Diversified 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 NAHL Group and its competitors. NAHL Group's current Beneish M-Score is -2.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is NAHL Group stock overvalued right now?

NAHL Group (NHLPF) has a current Beneish M-Score of -2.76. The stock's GF Value™ is $0.97, compared to a current price of $0.65 — trading 32.6% below its estimated fair value. The current Beneish M-Score is -2.76. NAHL Group's overall GF Score™ is 43/100 with 3 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 NAHL Group (NHLPF), the current Beneish M-Score is -2.76 as of Jun. 26, 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 NAHL Group (NHLPF) Overvalued in 2026?

Based on GuruFocus' analysis, NAHL Group stock appears to be undervalued. The current stock price of $0.65 is trading 32.6% below its estimated GF Value™ of $0.97.

Key valuation signals for NHLPF:

Beneish M-Score: -2.76
GF Value™: $0.97 vs. price of $0.65 (32.6% below fair value)
GF Score™: 43/100 with 3 warning signs

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

NAHL Group Business Description

Industry Communication Services Media - Diversified

Comparable Companies LSE:TMG LSE:EBQ LSE:NEWS LSE:DNM LSE:SBDS LSE:SAL LSE:MDZ LSE:MIRI LSE:ICON LSE:SYS1 APP XPAR:PUB OMC SZSE:002027 TTD SZSE:300058 SZSE:002131 TSE:4324 XPAR:DEC TSE:4751

Other Exchanges NAHl:UK NAH:UK

Address Kettering Parkway, Kettering Venture Park, Bevan House, Kettering, Northamptonshire, GBR, NN15 6XR

Website https://www.nahlgroupplc.co.uk

NAHL Group PLC is in the consumer legal services and catastrophic injury markets, delivering products and services to consumers and businesses through its two divisions, Consumer Legal Services and Critical Care. The company's services are Legal, Board, Finance, and People. Its operating segments are Consumer Legal Services, Critical Care, Shared Services, and Other Items. The company generates majority of revenue from Consumer Legal Services. Consumer Legal Services segments includes Marketing services, Product Provision, Service provision (legal services), Residential Property, Critical Care, Shared services, Other items, and Exceptional items. The group is based in United Kingdom.

43GF Score

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

$0.65

Price

$0.97

GF Value

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