PHPPY (Signify NV) Beneish M-Score: -2.85 (As of Jun. 25, 2026)


PHPPY Signify NV PHPPY
69 GF Score
Price $10.00
GF Value $11.63
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Signify NV Beneish M-Score?

Signify NV PHPPY -15.94% 69 Beneish M-Score is -2.85 as of Jun. 25, 2026. GuruFocus rates PHPPY with a GF Score™ of 69/100 and a GF Value™ of $11.63 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 2,926 Industrial Products companies, Signify NV ranks better than 81.65% 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 -2.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

PHPPY' s Beneish M-Score Range Over the Past 10 Years
Min: -2.95   Med: -2.77   Max: -2.02
Current: -2.85

During the past 13 years, the highest Beneish M-Score of Signify NV was -2.02. The lowest was -2.95. And the median was -2.77.

Signify NV Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Signify NV'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.

Signify NV Beneish M-Score Chart

Signify NV Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.62 -2.33 -2.89 -2.50 -2.84

Signify NV Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.51 -2.64 -2.59 -2.84 -2.85

PHPPY vs VRT, BE, NVT: Beneish M-Score Comparison

For the Electrical Equipment & Parts subindustry, Signify NV'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.

Signify NV Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Signify NV's Beneish M-Score distribution charts can be found below:

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


PHPPY
69GF Score
Signify NV PHPPY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Signify NV 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 Signify NV 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 * 0.9448+0.528 * 1.0206+0.404 * 1.0073+0.892 * 0.9858+0.115 * 1.0238
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0486+4.679 * -0.052076-0.327 * 1.044
=-2.79

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $968 Mil.
Revenue was 1472.832 + 1747.073 + 1651.408 + 1635.525 = $6,507 Mil.
Gross Profit was 582.659 + 666.276 + 644.366 + 653.979 = $2,547 Mil.
Total Current Assets was $3,009 Mil.
Total Assets was $7,824 Mil.
Property, Plant and Equipment(Net PPE) was $643 Mil.
Depreciation, Depletion and Amortization(DDA) was $284 Mil.
Selling, General, & Admin. Expense(SGA) was $1,922 Mil.
Total Current Liabilities was $2,591 Mil.
Long-Term Debt & Capital Lease Obligation was $1,268 Mil.
Net Income was 6.936 + 67.916 + 86.854 + 63.437 = $225 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 89.017 + 344.262 + 120.892 + 78.431 = $633 Mil.
 Total Receivables was $1,039 Mil.
Revenue was 1565.405 + 1732.984 + 1705.882 + 1596.34 = $6,601 Mil.
Gross Profit was 633.514 + 683.77 + 687.014 + 632.939 = $2,637 Mil.
Total Current Assets was $3,102 Mil.
Total Assets was $7,834 Mil.
Property, Plant and Equipment(Net PPE) was $585 Mil.
Depreciation, Depletion and Amortization(DDA) was $267 Mil.
Selling, General, & Admin. Expense(SGA) was $1,859 Mil.
Total Current Liabilities was $2,475 Mil.
Long-Term Debt & Capital Lease Obligation was $1,226 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)
=(967.63 / 6506.838) / (1038.919 / 6600.611)
=0.14871 / 0.157397
=0.9448

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)
=(2637.237 / 6600.611) / (2547.28 / 6506.838)
=0.399544 / 0.391477
=1.0206

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 - (3009.249 + 642.775) / 7824.277) / (1 - (3101.622 + 584.865) / 7833.514)
=0.533245 / 0.529395
=1.0073

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
=6506.838 / 6600.611
=0.9858

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))
=(267.399 / (267.399 + 584.865)) / (284.024 / (284.024 + 642.775))
=0.313751 / 0.306457
=1.0238

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)
=(1921.791 / 6506.838) / (1859.064 / 6600.611)
=0.295349 / 0.28165
=1.0486

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)
=((1268.208 + 2590.751) / 7824.277) / ((1225.946 + 2474.595) / 7833.514)
=0.493203 / 0.472399
=1.044

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
=(225.143 - 0 - 632.602) / 7824.277
=-0.052076

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.

Signify NV has a M-score of -2.79 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 -2.85 mean?
Signify NV (PHPPY) has a Beneish M-Score of -2.85 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Signify NV and its competitors. According to the industry distribution chart, Signify NV ranks #537 out of 2926 companies in the Industrial Products industry, placing it in the top 18.4%.
Is Signify NV's Beneish M-Score too high?
Signify NV's current Beneish M-Score is -2.85. Based on the distribution chart, Signify NV ranks #537 out of 2926 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Signify NV has a GF Score™ of 69/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Signify NV's Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Signify NV ranks #537 out of 2926 companies for Beneish M-Score. This places Signify NV in the top 18% 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Signify NV and its competitors. Signify NV's current Beneish M-Score is -2.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Signify NV stock overvalued right now?
Based on GuruFocus' analysis, Signify NV (PHPPY) is currently considered Modestly Undervalued. The stock's GF Value™ is $11.63, compared to a current price of $10.00 — trading 14% below its estimated fair value. The current Beneish M-Score is -2.85. Signify NV's overall GF Score™ is 69/100 with 7 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 Signify NV (PHPPY), the current Beneish M-Score is -2.85 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 Signify NV (PHPPY) Overvalued in 2026?

Based on GuruFocus' analysis, Signify NV stock appears to be undervalued. The current stock price of $10.00 is trading 14% below its estimated GF Value™ of $11.63. GuruFocus considers Signify NV to be Modestly Undervalued.

Key valuation signals for PHPPY:

  • Beneish M-Score: -2.85
  • GF Value™: $11.63 vs. price of $10.00 (14% below fair value)
  • GF Score™: 69/100 with 7 warning signs

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

Signify NV Business Description

Address High Tech Campus 48, Eindhoven, NLD, 5656 AE
Signify NV is a lighting solutions provider based in the Netherlands. Its product portfolio includes luminaires, lamps, LED lamps, LED tubes, and decorative lighting. The company operates through four segments, The Professional business offers LED lamps, luminaries, connected lighting systems and services to customers in the professional segment; The Consumer business offers LED lamps, luminaries, and connected products, including Philips Hue and WiZ, to customers in the consumer segment; The OEM business offers lighting components to the industry; The Conventional business offers special lighting, digital projection, and lamp electronic. The company operates in the USA, the Netherlands, France, the UK, Germany, Norway, and the rest of Europe and the rest of the world.
69GF Score

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

$10.00
Price
$11.63
GF Value