Investment Friends Capital SE (WAR:IFC) Beneish M-Score: 0.00 (As of Jul. 16, 2026)

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What is Investment Friends Capital SE Beneish M-Score?

Investment Friends Capital SE WAR:IFC Beneish M-Score is 0.00 as of Jul. 16, 2026. The stock has 5 warning signs investors should review.

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.

The historical rank and industry rank for Investment Friends Capital SE's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Investment Friends Capital SE was 523.26. The lowest was -83.97. And the median was -2.53.

Investment Friends Capital SE Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Investment Friends Capital SE'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.

Investment Friends Capital SE Beneish M-Score Chart

Investment Friends Capital SE Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.63 -2.52 3.60 -80.85 0.00

Investment Friends Capital SE 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 -5.30 0.00 0.00 0.00 0.00

WAR:IFC vs V, MA, AXP: Beneish M-Score Comparison

For the Credit Services subindustry, Investment Friends Capital SE'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.

Investment Friends Capital SE Beneish M-Score vs Credit Services Industry

For the Credit Services industry and Financial Services sector, Investment Friends Capital SE's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Investment Friends Capital SE's Beneish M-Score falls into.


Investment Friends Capital SE 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 Investment Friends Capital SE 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was zł0.00 Mil.
Revenue was 0.092 + 0.102 + 0.097 + 0.096 = zł0.39 Mil.
Gross Profit was 0.092 + 0.102 + 0.097 + 0.096 = zł0.39 Mil.
Total Current Assets was zł1.83 Mil.
Total Assets was zł1.83 Mil.
Property, Plant and Equipment(Net PPE) was zł0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was zł0.00 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.17 Mil.
Total Current Liabilities was zł0.02 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Net Income was -0.89 + 0.022 + 0.084 + 0.017 = zł-0.77 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = zł0.00 Mil.
Cash Flow from Operations was -0.017 + 0.018 + -0.004 + 0 = zł-0.00 Mil.
 Total Receivables was zł0.00 Mil.
Revenue was 0.09 + 0.087 + 0.105 + 0.134 = zł0.42 Mil.
Gross Profit was 0.09 + 0.087 + 0.105 + 0.134 = zł0.42 Mil.
Total Current Assets was zł15.98 Mil.
Total Assets was zł15.98 Mil.
Property, Plant and Equipment(Net PPE) was zł0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was zł0.00 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.15 Mil.
Total Current Liabilities was zł0.02 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 / 0.387) / (0 / 0.416)
=0 / 0
=

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)
=(0.416 / 0.416) / (0.387 / 0.387)
=1 / 1
=

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 - (1.828 + 0) / 1.828) / (1 - (15.975 + 0) / 15.975)
=0 / 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
=0.387 / 0.416
=

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 / (0 + 0)) / (0 / (0 + 0))
= /
=

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)
=(0.166 / 0.387) / (0.15 / 0.416)
=0.428941 / 0.360577
=

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 + 0.017) / 1.828) / ((0 + 0.02) / 15.975)
=0.0093 / 0.001252
=

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
=(-0.767 - 0 - -0.003) / 1.828
=-0.417943

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Investment Friends Capital SE (WAR:IFC) has a Beneish M-Score of 0.00 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Investment Friends Capital SE and its competitors.
Is Investment Friends Capital SE's Beneish M-Score too high?
Investment Friends Capital SE's current Beneish M-Score is 0.00.
How does Investment Friends Capital SE's Beneish M-Score compare to V and MA?
Investment Friends Capital SE's Beneish M-Score of 0.00 can be compared against companies in the Credit Services 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 Credit Services company?
A good Beneish M-Score depends on the Credit 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 Investment Friends Capital SE and its competitors. Investment Friends Capital SE's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Investment Friends Capital SE stock overvalued right now?
Investment Friends Capital SE (WAR:IFC) has a current Beneish M-Score of 0.00. The stock's GF Value™ is zł0.01, compared to a current price of zł5.29 — trading 52820% above its estimated fair value. The current Beneish M-Score is 0.00. 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 Investment Friends Capital SE (WAR:IFC), the current Beneish M-Score is 0.00 as of Jul. 16, 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.

Investment Friends Capital SE Business Description

Address Tornimae Str 5, Harju County, Tallinn, EST, 10145
Investment Friends Capital SE is engaged in financial activities. The Company focuses mainly on financial activities, in particular on providing services in the field of granting large-value cash loans, to business entities operating in Poland.