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Velo3DVELO -8.49%58 Beneish M-Score is 4.85 as of Aug. 28, 2026. GuruFocus rates VELO with a GF Score™ of 58/100 and a GF Value™ of $1.37 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 2,407 Hardware companies, Velo3D ranks worse than 98.5% 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.
Warning Sign:
Beneish M-Score 4.85 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Velo3D's Beneish M-Score or its related term are showing as below:
VELO'
s Beneish M-Score Range Over the Past 10 Years
Min: -14.74 Med: -3.52 Max: 26.78
Current: 4.85
During the past 6 years, the highest Beneish M-Score of Velo3D was 26.78. The lowest was -14.74. And the median was -3.52.
The historical data trend for Velo3D'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.
VELO vs OSS, NNDM, BGIN: Beneish M-Score Comparison
For the Computer Hardware subindustry, Velo3D'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.
Velo3D Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Velo3D's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Velo3D'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 Velo3D 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 * 2.2799
+
0.528 * 11.6071
+
0.404 * 0.6446
+
0.892 * 1.3152
+
0.115 * 1.7589
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.5348
+
4.679 * 0.008544
-
0.327 * 0.3661
=
4.85
* 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))
=
(3.888 / (3.888 + 26.059))
/
(3.036 / (3.036 + 38.096))
=
0.129829
/
0.073811
=
1.7589
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
=
(-50.703 - 0.882
-
-53.295)
/
200.147
=
0.008544
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.
Velo3D has a M-score of 4.85 signals that the company is likely to be a manipulator.
Velo3D (VELO) has a Beneish M-Score of 4.85 as of Aug. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Velo3D and its competitors. According to the industry distribution chart, Velo3D ranks #2371 out of 2407 companies in the Hardware industry, placing it in the top 98.5%.
Is Velo3D's Beneish M-Score too high?
Velo3D's current Beneish M-Score is 4.85. Based on the distribution chart, Velo3D ranks #2371 out of 2407 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Velo3D has a GF Score™ of 58/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Velo3D's Beneish M-Score compare to OSS and NNDM?
According to the Hardware industry distribution chart, Velo3D ranks #2371 out of 2407 companies for Beneish M-Score. This places Velo3D 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Velo3D and its competitors. Velo3D's current Beneish M-Score is 4.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Velo3D stock overvalued right now?
Based on GuruFocus' analysis, Velo3D (VELO) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.37, compared to a current price of $11.80 — trading 761.3% above its estimated fair value. The current Beneish M-Score is 4.85. Velo3D's overall GF Score™ is 58/100 with 5 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 Velo3D (VELO), the current Beneish M-Score is 4.85 as of Aug. 28, 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 Velo3D (VELO) Overvalued in 2026?
Based on GuruFocus' analysis, Velo3D stock appears to be overvalued.
The current stock price of $11.80 is trading 761.3% above its estimated GF Value™ of $1.37.
GuruFocus considers Velo3D to be Significantly Overvalued.
Key valuation signals for VELO:
Beneish M-Score: 4.85
GF Value™: $1.37 vs. price of $11.80 (761.3% above fair value)
No single metric tells the full story. See the VELO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Velo3D Inc provides additive manufacturing (AM), also referred to as three-dimensional printing (3D printing), to deliver breakthroughs in performance, cost, and time in the production of high-value metal parts. The Velo3D intelligent metal additive manufacturing solution is comprised of the Velo3D Flow intelligent print preparation software, the Sapphire production system, and Velo3D Assure, real-time quality assurance software. Its complete manufacturing solution enables clients to build the parts needed, speed their development, and reduce their product costs.
58GF Score
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