Auto Partner (WAR:APR) Beneish M-Score: -2.26 (As of Jun. 25, 2026)

What is Auto Partner Beneish M-Score?

Auto Partner WAR:APR -0.19% 97 Beneish M-Score is -2.26 as of Jun. 25, 2026. GuruFocus rates WAR:APR with a GF Score™ of 97/100 and a GF Value™ of zł24.98 (Fairly Valued). The stock has 8 warning signs investors should review. Among 1,273 Vehicles & Parts companies, Auto Partner ranks worse than 71.25% 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 -2.26 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

WAR:APR' s Beneish M-Score Range Over the Past 10 Years
Min: -2.42 Med: -1.99 Max: -0.44
Current: -2.26

During the past 13 years, the highest Beneish M-Score of Auto Partner was -0.44. The lowest was -2.42. And the median was -1.99.

Auto Partner Beneish M-Score Related Terms

Auto Partner Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Auto Partner'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.

Auto Partner Beneish M-Score Chart

Auto Partner Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-0.68

-1.86

-1.99

-2.19

-2.25

Auto Partner 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															-2.16	-2.30	-2.37	-2.25	-2.26

WAR:APR vs ORLY, AZO: Beneish M-Score Comparison

For the Auto Parts subindustry, Auto Partner'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.

Auto Partner Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Auto Partner's Beneish M-Score distribution charts can be found below:

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

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Auto Partner SA WAR:APR

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

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Auto Partner 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 Auto Partner 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 * 1.1261

0.528 * 1.0012

0.404 * 0.8813

0.892 * 1.0789

0.115 * 1.0935

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0034

4.679 * 0.011612

0.327 * 0.9405

-2.26

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was zł487 Mil.
Revenue was 1170.033 + 1073.915 + 1136.474 + 1141.214 = zł4,522 Mil.
Gross Profit was 324.873 + 302.253 + 294.023 + 306.184 = zł1,227 Mil.
Total Current Assets was zł1,795 Mil.
Total Assets was zł2,351 Mil.
Property, Plant and Equipment(Net PPE) was zł516 Mil.
Depreciation, Depletion and Amortization(DDA) was zł59 Mil.
Selling, General, & Admin. Expense(SGA) was zł572 Mil.
Total Current Liabilities was zł514 Mil.
Long-Term Debt & Capital Lease Obligation was zł352 Mil.
Net Income was 62.093 + 52.568 + 49.192 + 57.936 = zł222 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = zł0 Mil.
Cash Flow from Operations was 158.2 + -85.39 + -1.755 + 123.439 = zł194 Mil.

Total Receivables was zł401 Mil.
Revenue was 1073.292 + 994.826 + 1060.829 + 1062.091 = zł4,191 Mil.
Gross Profit was 272.638 + 287.15 + 282.908 + 296.271 = zł1,139 Mil.
Total Current Assets was zł1,634 Mil.
Total Assets was zł2,118 Mil.
Property, Plant and Equipment(Net PPE) was zł443 Mil.
Depreciation, Depletion and Amortization(DDA) was zł56 Mil.
Selling, General, & Admin. Expense(SGA) was zł529 Mil.
Total Current Liabilities was zł389 Mil.
Long-Term Debt & Capital Lease Obligation was zł441 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)
	=	(487.086 / 4521.636)	/	(400.922 / 4191.038)
	=	0.107723	/	0.095662
	=	1.1261

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)
	=	(1138.967 / 4191.038)	/	(1227.333 / 4521.636)
	=	0.271763	/	0.271436
	=	1.0012

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 - (1795.279 + 516.311) / 2350.627)	/	(1 - (1634.377 + 443.373) / 2117.652)
	=	0.016607	/	0.018843
	=	0.8813

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
	=	4521.636	/	4191.038
	=	1.0789

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))
	=	(55.793 / (55.793 + 443.373))	/	(58.785 / (58.785 + 516.311))
	=	0.111772	/	0.102218
	=	1.0935

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)
	=	(572.445 / 4521.636)	/	(528.782 / 4191.038)
	=	0.126601	/	0.12617
	=	1.0034

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)
	=	((351.984 + 513.878) / 2350.627)	/	((440.809 + 388.546) / 2117.652)
	=	0.368354	/	0.391639
	=	0.9405

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
	=	(221.789 - 0	-	194.494)	/	2350.627
	=	0.011612

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.

Auto Partner has a M-score of -2.26 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 -2.26 mean?

Auto Partner (WAR:APR) has a Beneish M-Score of -2.26 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Auto Partner and its competitors. According to the industry distribution chart, Auto Partner ranks #907 out of 1273 companies in the Vehicles & Parts industry, placing it in the top 71.2%.

Is Auto Partner's Beneish M-Score too high?

Auto Partner's current Beneish M-Score is -2.26. Based on the distribution chart, Auto Partner ranks #907 out of 1273 companies in the Vehicles & Parts industry, which is below the industry midpoint. Overall, Auto Partner has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Auto Partner's Beneish M-Score compare to ORLY and AZO?

According to the Vehicles & Parts industry distribution chart, Auto Partner ranks #907 out of 1273 companies for Beneish M-Score. This places Auto Partner 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 Vehicles & Parts company?

A good Beneish M-Score depends on the Vehicles & Parts 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 Auto Partner and its competitors. Auto Partner's current Beneish M-Score is -2.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Auto Partner stock overvalued right now?

Based on GuruFocus' analysis, Auto Partner (WAR:APR) is currently considered Fairly Valued. The stock's GF Value™ is zł24.98, compared to a current price of zł25.65 — trading 2.7% above its estimated fair value. The current Beneish M-Score is -2.26. Auto Partner's overall GF Score™ is 97/100 with 8 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 Auto Partner (WAR:APR), the current Beneish M-Score is -2.26 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 Auto Partner (WAR:APR) Overvalued in 2026?

Based on GuruFocus' analysis, Auto Partner stock appears to be overvalued. The current stock price of zł25.65 is trading 2.7% above its estimated GF Value™ of zł24.98. GuruFocus considers Auto Partner to be Fairly Valued.

Key valuation signals for WAR:APR:

Beneish M-Score: -2.26
GF Value™: zł24.98 vs. price of zł25.65 (2.7% above fair value)
GF Score™: 97/100 with 8 warning signs

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

Auto Partner Business Description

Industry Consumer Cyclical Vehicles & Parts

Comparable Companies WAR:DBC WAR:OPN WAR:SNK WAR:ACG WAR:LES WAR:IZB WAR:HDR WAR:ERG WAR:ORL WAR:CAR ORLY TSE:5802 AZO XKRX:012330 TSE:6902 TSE:5108 XPAR:ML SHSE:600660 XTER:KBX TSX:MG

Other Exchanges 0RI1:UK 6KF:Germany

Address Ul Ekonomiczna 20, Bierun, POL, 43-150

Website https://www.autopartner.com

Auto Partner SA principal activity is the sale of spare parts and accessories for motor vehicles. The group consists in the organisation of distribution of vehicle spare parts directly from manufacturers to end users. The Group is an importer and distributor of parts for passenger cars and delivery vehicles in the market for spare parts. The company has presence in Poland, EU, and Others. The company generates majority of revenue from Poland.

97GF Score

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

zł25.65

Price

zł24.98

GF Value

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