Cannabis Poland (WAR:CBD) Beneish M-Score: -2.97 (As of Jun. 30, 2026)


WAR:CBD Cannabis Poland SA WAR:CBD
24 GF Score
Price zł0.20
! 7 Warning Signs
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What is Cannabis Poland Beneish M-Score?

Cannabis Poland WAR:CBD 24 Beneish M-Score is -2.97 as of Jun. 30, 2026. GuruFocus rates WAR:CBD with a GF Score™ of 24/100. The stock has 7 warning signs investors should review. Among 908 Drug Manufacturers companies, Cannabis Poland ranks better than 82.16% 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 -2.97 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

WAR:CBD' s Beneish M-Score Range Over the Past 10 Years
Min: -199.06   Med: -1.59   Max: 1146.55
Current: -2.97

During the past 13 years, the highest Beneish M-Score of Cannabis Poland was 1146.55. The lowest was -199.06. And the median was -1.59.

Cannabis Poland Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cannabis Poland'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.

Cannabis Poland Beneish M-Score Chart

Cannabis Poland 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 34.18 -5.88 1.95 -1.41 -2.97

Cannabis Poland 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 0.00 0.00 0.00 -2.97 0.00

WAR:CBD vs ZTS, UTHR, VTRS: Beneish M-Score Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Cannabis Poland'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.

Cannabis Poland Beneish M-Score vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Cannabis Poland's Beneish M-Score distribution charts can be found below:

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


WAR:CBD
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Cannabis Poland SA WAR:CBD
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Cannabis Poland 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 Cannabis Poland 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 * 1.5174+0.528 * 1.4698+0.404 * 0+0.892 * 0.804+0.115 * 1.8149
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.067385-0.327 * 4.1792
=-2.97

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was zł0.12 Mil.
Revenue was zł0.20 Mil.
Gross Profit was zł0.06 Mil.
Total Current Assets was zł1.88 Mil.
Total Assets was zł2.23 Mil.
Property, Plant and Equipment(Net PPE) was zł0.34 Mil.
Depreciation, Depletion and Amortization(DDA) was zł0.04 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł1.44 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Net Income was zł-2.21 Mil.
Gross Profit was zł0.00 Mil.
Cash Flow from Operations was zł-2.36 Mil.
 Total Receivables was zł0.10 Mil.
Revenue was zł0.25 Mil.
Gross Profit was zł0.12 Mil.
Total Current Assets was zł3.72 Mil.
Total Assets was zł4.19 Mil.
Property, Plant and Equipment(Net PPE) was zł0.24 Mil.
Depreciation, Depletion and Amortization(DDA) was zł0.06 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł0.65 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 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)
=(0.122 / 0.201) / (0.1 / 0.25)
=0.606965 / 0.4
=1.5174

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)
=(0.117 / 0.25) / (0.064 / 0.201)
=0.468 / 0.318408
=1.4698

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 - (1.883 + 0.343) / 2.226) / (1 - (3.718 + 0.239) / 4.187)
=0 / 0.054932
=0

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
=0.201 / 0.25
=0.804

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))
=(0.059 / (0.059 + 0.239)) / (0.042 / (0.042 + 0.343))
=0.197987 / 0.109091
=1.8149

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 / 0.201) / (0 / 0.25)
=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 + 1.442) / 2.226) / ((0 + 0.649) / 4.187)
=0.647799 / 0.155004
=4.1792

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
=(-2.205 - 0 - -2.355) / 2.226
=0.067385

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.

Cannabis Poland has a M-score of -2.97 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 -2.97 mean?
Cannabis Poland (WAR:CBD) has a Beneish M-Score of -2.97 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cannabis Poland and its competitors. According to the industry distribution chart, Cannabis Poland ranks #162 out of 908 companies in the Drug Manufacturers industry, placing it in the top 17.8%.
Is Cannabis Poland's Beneish M-Score too high?
Cannabis Poland's current Beneish M-Score is -2.97. Based on the distribution chart, Cannabis Poland ranks #162 out of 908 companies in the Drug Manufacturers industry, which is in the top quartile — a strong position relative to peers. Overall, Cannabis Poland has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does Cannabis Poland's Beneish M-Score compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, Cannabis Poland ranks #162 out of 908 companies for Beneish M-Score. This places Cannabis Poland 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 a Drug Manufacturers company?
A good Beneish M-Score depends on the Drug Manufacturers 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 Cannabis Poland and its competitors. Cannabis Poland's current Beneish M-Score is -2.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cannabis Poland stock overvalued right now?
Cannabis Poland (WAR:CBD) has a current Beneish M-Score of -2.97. The current Beneish M-Score is -2.97. Cannabis Poland's overall GF Score™ is 24/100 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 Cannabis Poland (WAR:CBD), the current Beneish M-Score is -2.97 as of Jun. 30, 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.

Cannabis Poland Business Description

Other Exchanges 8TE:Germany
Address ul. Jana Styki 23, Warszawa, POL, 03-928
Cannabis Poland SA is engaged in the business of cannabis, wherein it supplies plant products containing cannabinoids for pharmaceutical industry.
24GF Score

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

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