Vergnet (STU:VRQ0) Beneish M-Score: -2.45 (As of Jun. 27, 2026)

What is Vergnet Beneish M-Score?

Vergnet STU:VRQ0 5 Beneish M-Score is -2.45 as of Jun. 27, 2026. GuruFocus rates STU:VRQ0 with a GF Score™ of 5/100. The stock has 10 warning signs investors should review.

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 -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

STU:VRQ0' s Beneish M-Score Range Over the Past 10 Years
Min: -4.71 Med: -2.44 Max: 0.3
Current: -2.45

During the past 13 years, the highest Beneish M-Score of Vergnet was 0.30. The lowest was -4.71. And the median was -2.44.

Vergnet Beneish M-Score Related Terms

Vergnet Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Vergnet'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.

Vergnet Beneish M-Score Chart

Vergnet Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

Get a 7-Day Free Trial

-2.42

-2.25

-4.71

-2.46

-2.45

Vergnet Semi-Annual Data
	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.46	0.00	-2.45	0.00

STU:VRQ0 vs CEG, VST, NRG: Beneish M-Score Comparison

For the Utilities - Independent Power Producers subindustry, Vergnet'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.

Vergnet Beneish M-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Vergnet's Beneish M-Score distribution charts can be found below:

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

Save Embed

5GF Score

Vergnet SA STU:VRQ0

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

View Full Analysis

Vergnet 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 Vergnet 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 * 3.5503

0.528 * 4.047

0.404 * 0.455

0.892 * 0.1994

0.115 * 0.624

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.592361

0.327 * 1.5264

-2.45

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was €8.75 Mil.
Revenue was €4.65 Mil.
Gross Profit was €0.54 Mil.
Total Current Assets was €18.43 Mil.
Total Assets was €20.82 Mil.
Property, Plant and Equipment(Net PPE) was €1.71 Mil.
Depreciation, Depletion and Amortization(DDA) was €5.24 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €29.41 Mil.
Long-Term Debt & Capital Lease Obligation was €0.66 Mil.
Net Income was €-16.85 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-4.52 Mil.

Total Receivables was €12.35 Mil.
Revenue was €23.30 Mil.
Gross Profit was €10.94 Mil.
Total Current Assets was €27.51 Mil.
Total Assets was €31.57 Mil.
Property, Plant and Equipment(Net PPE) was €1.81 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.61 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €25.16 Mil.
Long-Term Debt & Capital Lease Obligation was €4.72 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)
	=	(8.746 / 4.646)	/	(12.354 / 23.299)
	=	1.88248	/	0.530237
	=	3.5503

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)
	=	(10.939 / 23.299)	/	(0.539 / 4.646)
	=	0.469505	/	0.116014
	=	4.047

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 - (18.433 + 1.705) / 20.815)	/	(1 - (27.509 + 1.805) / 31.571)
	=	0.032525	/	0.07149
	=	0.455

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
	=	4.646	/	23.299
	=	0.1994

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))
	=	(1.606 / (1.606 + 1.805))	/	(5.24 / (5.24 + 1.705))
	=	0.47083	/	0.7545
	=	0.624

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)
	=	(0 / 4.646)	/	(0 / 23.299)
	=	0	/	0
	=	1

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)
	=	((0.658 + 29.408) / 20.815)	/	((4.719 + 25.156) / 31.571)
	=	1.444439	/	0.94628
	=	1.5264

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
	=	(-16.847 - 0	-	-4.517)	/	20.815
	=	-0.592361

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.

Vergnet has a M-score of -2.45 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 -2.45 mean?

Vergnet (STU:VRQ0) has a Beneish M-Score of -2.45 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vergnet and its competitors.

Is Vergnet's Beneish M-Score too high?

Vergnet's current Beneish M-Score is -2.45. Overall, Vergnet has a GF Score™ of 5/100, reflecting its overall financial health beyond just this single metric.

How does Vergnet's Beneish M-Score compare to CEG and VST?

Vergnet's Beneish M-Score of -2.45 can be compared against companies in the Utilities - Independent Power Producers 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 an Utilities - Independent Power Producers company?

A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Vergnet and its competitors. Vergnet's current Beneish M-Score is -2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Vergnet stock overvalued right now?

Vergnet (STU:VRQ0) has a current Beneish M-Score of -2.45. The current Beneish M-Score is -2.45. Vergnet's overall GF Score™ is 5/100 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 Vergnet (STU:VRQ0), the current Beneish M-Score is -2.45 as of Jun. 27, 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.

Vergnet Business Description

Industry Utilities Utilities - Independent Power Producers

Comparable Companies CEG VST NRG BOM:533096 BKK:GULF HKSE:01816 XTER:UN0 TLN HKSE:00006 SHSE:600011 BOM:500400 BOM:539254 HKSE:00836 LSE:CNA OKLO SHSE:600674 SHSE:600023 NSE:JSWENERGY XTAE:OPCE BOM:532779

Address 12 Rue des Chataigniers, Ormes, FRA, 45140

Website https://www.vergnet.com

Vergnet SA is engaged in the design, production, marketing, and installation of wind energy production plants and potable water supply infrastructures.

5GF Score

Get the complete analysis for STU:VRQ0

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

€0.76

Price

View STU:VRQ0 Analysis

See Beneish M-Score data for all stocks →