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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Valid Solucoes's Beneish M-Score or its related term are showing as below:
VSSPY'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.68 Med: -2.79 Max: -2.31
Current: -2.57
During the past 13 years, the highest Beneish M-Score of Valid Solucoes was -2.31. The lowest was -3.68. And the median was -2.79.
Valid Solucoes Beneish M-Score Related Terms
Valid Solucoes Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Valid Solucoes'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.
VSSPY vs CTAS, CPRT, GPN: Beneish M-Score Comparison
For the Specialty Business Services subindustry, Valid Solucoes'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.
Valid Solucoes Beneish M-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Valid Solucoes's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Valid Solucoes'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 Valid Solucoes 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 * 1.2047
+
0.528 * 1.0066
+
0.404 * 1.092
+
0.892 * 0.9678
+
0.115 * 0.9986
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0406
+
4.679 * -0.029612
-
0.327 * 1.132
=
-2.47
* 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))
=
(18.126 / (18.126 + 39.091))
/
(22.269 / (22.269 + 47.93))
=
0.316794
/
0.317227
=
0.9986
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
=
(45.118 - 0
-
62.342)
/
581.655
=
-0.029612
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.
Valid Solucoes has a M-score of -2.47 suggests that the company is unlikely to be a manipulator.
Valid Solucoes (VSSPY) has a Beneish M-Score of -2.57 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Valid Solucoes and its competitors. According to the industry distribution chart, Valid Solucoes ranks #493 out of 1020 companies in the Business Services industry, placing it in the top 48.3%.
Is Valid Solucoes' Beneish M-Score too high?
Valid Solucoes' current Beneish M-Score is -2.57. Based on the distribution chart, Valid Solucoes ranks #493 out of 1020 companies in the Business Services industry, which is above the industry midpoint. Overall, Valid Solucoes has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Valid Solucoes' Beneish M-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Valid Solucoes ranks #493 out of 1020 companies for Beneish M-Score. This puts Valid Solucoes 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 Business Services company?
A good Beneish M-Score depends on the Business Services 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 Valid Solucoes and its competitors. Valid Solucoes's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Valid Solucoes stock overvalued right now?
Valid Solucoes (VSSPY) has a current Beneish M-Score of -2.57. The stock's GF Value™ is $4.89, compared to a current price of $4.23 — trading 13.5% below its estimated fair value. The current Beneish M-Score is -2.57. Valid Solucoes' overall GF Score™ is 69/100 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 Valid Solucoes (VSSPY), the current Beneish M-Score is -2.57 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 Valid Solucoes (VSSPY) Overvalued in 2026?
Based on GuruFocus' analysis, Valid Solucoes stock appears to be undervalued.
The current stock price of $4.23 is trading 13.5% below its estimated GF Value™ of $4.89.
Key valuation signals for VSSPY:
Beneish M-Score: -2.57
GF Value™: $4.89 vs. price of $4.23 (13.5% below fair value)
No single metric tells the full story. See the VSSPY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Valid Solucoes SA Formerly Valid Solucoes eServicos de Seguranca em Meios de Pagamento e Identificacao is engaged in the printing industry, which includes systems that include electronic, plastic, and magnetic cards, card encoding, and development, implementation, and execution of electronic document management projects. The reporting segment is Means Of Payment, which consists of cards for purposes like payments, identification, and customization. The identification segment provides physical and electronic solutions. The mobile segment offers solutions like instant lottery tickets, digital certification that offers products, services, consulting, and technology for the issue, and the use of private and Brazilian government-certified digital certificates.
69GF Score
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