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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 -1.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Aeroflex Enterprises's Beneish M-Score or its related term are showing as below:
NSE:AEROENTER'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.03 Med: -1.9 Max: 0.46
Current: -1.99
During the past 13 years, the highest Beneish M-Score of Aeroflex Enterprises was 0.46. The lowest was -3.03. And the median was -1.90.
Aeroflex Enterprises Beneish M-Score Related Terms
Aeroflex Enterprises Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Aeroflex Enterprises'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.
NSE:AEROENTER vs NUE, STLD, RS: Beneish M-Score Comparison
For the Steel subindustry, Aeroflex Enterprises'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.
Aeroflex Enterprises Beneish M-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Aeroflex Enterprises's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Aeroflex Enterprises'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 Aeroflex Enterprises 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 * 0.9962
+
0.528 * 0.9655
+
0.404 * 1.1224
+
0.892 * 1.2062
+
0.115 * 0.6071
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0
+
4.679 * 0.039735
-
0.327 * 1.1165
=
-1.99
* 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))
=
(152.732 / (152.732 + 2421.801))
/
(329.578 / (329.578 + 3043.489))
=
0.059324
/
0.097709
=
0.6071
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
=
(642.245 - 0
-
182.987)
/
11557.925
=
0.039735
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.
Aeroflex Enterprises has a M-score of -1.99 suggests that the company is unlikely to be a manipulator.
Aeroflex Enterprises (NSE:AEROENTER) has a Beneish M-Score of -1.99 as of Jul. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aeroflex Enterprises and its competitors. According to the industry distribution chart, Aeroflex Enterprises ranks #443 out of 587 companies in the Steel industry, placing it in the top 75.5%.
Is Aeroflex Enterprises' Beneish M-Score too high?
Aeroflex Enterprises' current Beneish M-Score is -1.99. Based on the distribution chart, Aeroflex Enterprises ranks #443 out of 587 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Aeroflex Enterprises has a GF Score™ of 97/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Aeroflex Enterprises' Beneish M-Score compare to NUE and STLD?
According to the Steel industry distribution chart, Aeroflex Enterprises ranks #443 out of 587 companies for Beneish M-Score. This places Aeroflex Enterprises 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Aeroflex Enterprises and its competitors. Aeroflex Enterprises's current Beneish M-Score is -1.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aeroflex Enterprises stock overvalued right now?
Based on GuruFocus' analysis, Aeroflex Enterprises (NSE:AEROENTER) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹132.00, compared to a current price of ₹117.46 — trading 11% below its estimated fair value. The current Beneish M-Score is -1.99. Aeroflex Enterprises' overall GF Score™ is 97/100 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 Aeroflex Enterprises (NSE:AEROENTER), the current Beneish M-Score is -1.99 as of Jul. 20, 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 Aeroflex Enterprises (NSE:AEROENTER) Overvalued in 2026?
Based on GuruFocus' analysis, Aeroflex Enterprises stock appears to be undervalued.
The current stock price of ₹117.46 is trading 11% below its estimated GF Value™ of ₹132.00.
GuruFocus considers Aeroflex Enterprises to be Modestly Undervalued.
Key valuation signals for NSE:AEROENTER:
Beneish M-Score: -1.99
GF Value™: ₹132.00 vs. price of ₹117.46 (11% below fair value)
No single metric tells the full story. See the NSE:AEROENTER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aeroflex Enterprises Ltd Formerly Sat Industries Ltd is an Indian-based company engaged in the business of international trading, investment, and finance, leasing of assets, manufacturing of flexible packaging, hose pipes, education, etc. through its own or through subsidiary and associate companies. The company also offers stainless steel hose assemblies, welding sleeves, different types of fittings, and couplings, as per customer requirements. The operating segments of the company include trading; manufacturing, finance and investment. The company generates maximum revenue from the manufacturing segment. Geographically, the company derives a majority of its revenue from India.
97GF Score
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