Cloud Technologies (WAR:CLD) Beneish M-Score: -2.50 (As of Jun. 26, 2026)


WAR:CLD Cloud Technologies SA WAR:CLD
72 GF Score
Price zł105.00
GF Value zł66.42
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Cloud Technologies Beneish M-Score?

Cloud Technologies WAR:CLD +3.96% 72 Beneish M-Score is -2.50 as of Jun. 26, 2026. GuruFocus rates WAR:CLD with a GF Score™ of 72/100 and a GF Value™ of zł66.42 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 2,634 Software companies, Cloud Technologies ranks worse than 52.62% 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 -2.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

WAR:CLD' s Beneish M-Score Range Over the Past 10 Years
Min: -3.92   Med: -2.67   Max: 265.11
Current: -2.5

During the past 13 years, the highest Beneish M-Score of Cloud Technologies was 265.11. The lowest was -3.92. And the median was -2.67.

Cloud Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cloud Technologies'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.

Cloud Technologies Beneish M-Score Chart

Cloud Technologies 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 -2.89 -3.23 -2.80 -2.79 -2.50

Cloud Technologies 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 -2.50 0.00

WAR:CLD vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Cloud Technologies'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.

Cloud Technologies Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Cloud Technologies's Beneish M-Score distribution charts can be found below:

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


WAR:CLD
72GF Score
Cloud Technologies SA WAR:CLD
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Cloud Technologies 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 Cloud Technologies 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 * 1.0354+0.528 * 1.0237+0.404 * 1.146+0.892 * 1.0792+0.115 * 0.9183
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.061136-0.327 * 0.703
=-2.50

* 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 zł20.88 Mil.
Revenue was zł50.69 Mil.
Gross Profit was zł46.83 Mil.
Total Current Assets was zł28.77 Mil.
Total Assets was zł90.09 Mil.
Property, Plant and Equipment(Net PPE) was zł6.35 Mil.
Depreciation, Depletion and Amortization(DDA) was zł12.70 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł6.63 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.41 Mil.
Net Income was zł9.27 Mil.
Gross Profit was zł0.00 Mil.
Cash Flow from Operations was zł14.78 Mil.
 Total Receivables was zł18.68 Mil.
Revenue was zł46.97 Mil.
Gross Profit was zł44.42 Mil.
Total Current Assets was zł37.25 Mil.
Total Assets was zł98.17 Mil.
Property, Plant and Equipment(Net PPE) was zł8.66 Mil.
Depreciation, Depletion and Amortization(DDA) was zł13.65 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł7.89 Mil.
Long-Term Debt & Capital Lease Obligation was zł3.03 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)
=(20.876 / 50.69) / (18.683 / 46.971)
=0.411837 / 0.397756
=1.0354

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)
=(44.423 / 46.971) / (46.831 / 50.69)
=0.945754 / 0.923871
=1.0237

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 - (28.773 + 6.354) / 90.094) / (1 - (37.25 + 8.658) / 98.173)
=0.610107 / 0.532377
=1.146

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
=50.69 / 46.971
=1.0792

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))
=(13.654 / (13.654 + 8.658)) / (12.695 / (12.695 + 6.354))
=0.611958 / 0.666439
=0.9183

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 / 50.69) / (0 / 46.971)
=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)
=((0.412 + 6.63) / 90.094) / ((3.027 + 7.889) / 98.173)
=0.078163 / 0.111191
=0.703

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
=(9.274 - 0 - 14.782) / 90.094
=-0.061136

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.

Cloud Technologies has a M-score of -2.50 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 -2.50 mean?
Cloud Technologies (WAR:CLD) has a Beneish M-Score of -2.50 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cloud Technologies and its competitors. According to the industry distribution chart, Cloud Technologies ranks #1386 out of 2634 companies in the Software industry, placing it in the top 52.6%.
Is Cloud Technologies' Beneish M-Score too high?
Cloud Technologies' current Beneish M-Score is -2.50. Based on the distribution chart, Cloud Technologies ranks #1386 out of 2634 companies in the Software industry, which is below the industry midpoint. Overall, Cloud Technologies has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cloud Technologies' Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Cloud Technologies ranks #1386 out of 2634 companies for Beneish M-Score. This places Cloud Technologies 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 Software company?
A good Beneish M-Score depends on the Software 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 Cloud Technologies and its competitors. Cloud Technologies's current Beneish M-Score is -2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cloud Technologies stock overvalued right now?
Based on GuruFocus' analysis, Cloud Technologies (WAR:CLD) is currently considered Significantly Overvalued. The stock's GF Value™ is zł66.42, compared to a current price of zł105.00 — trading 58.1% above its estimated fair value. The current Beneish M-Score is -2.50. Cloud Technologies' overall GF Score™ is 72/100 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 Cloud Technologies (WAR:CLD), the current Beneish M-Score is -2.50 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 Cloud Technologies (WAR:CLD) Overvalued in 2026?

Based on GuruFocus' analysis, Cloud Technologies stock appears to be overvalued. The current stock price of zł105.00 is trading 58.1% above its estimated GF Value™ of zł66.42. GuruFocus considers Cloud Technologies to be Significantly Overvalued.

Key valuation signals for WAR:CLD:

  • Beneish M-Score: -2.50
  • GF Value™: zł66.42 vs. price of zł105.00 (58.1% above fair value)
  • GF Score™: 72/100 with 5 warning signs

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

Cloud Technologies Business Description

Address Marszalkowska 89, Warsaw, POL, 00-693
Cloud Technologies SA is an online advertiser in the segment of Big Data Cloud Computing. The company has unique competencies in optimizing advertising campaigns based on programmatic buying.
72GF Score

Get the complete analysis for WAR:CLD

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

zł105.00
Price
zł66.42
GF Value