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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 -2.01 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for LSI Software's Beneish M-Score or its related term are showing as below:
WAR:LSI'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.05 Med: -2.52 Max: -1.6
Current: -2.01
During the past 13 years, the highest Beneish M-Score of LSI Software was -1.60. The lowest was -4.05. And the median was -2.52.
LSI Software Beneish M-Score Related Terms
LSI Software Beneish M-Score Historical Data
* Premium members only.
The historical data trend for LSI Software'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.
WAR:LSI vs UBER, SHOP, CRM: Beneish M-Score Comparison
For the Software - Application subindustry, LSI Software'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.
LSI Software Beneish M-Score vs Software Industry
For the Software industry and Technology sector, LSI Software's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where LSI Software'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 LSI Software 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 * 1.3367
+
0.528 * 0.8778
+
0.404 * 0.8997
+
0.892 * 1.285
+
0.115 * 1.0145
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.7854
+
4.679 * 0.035467
-
0.327 * 1.5983
=
-2.01
* 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))
=
(6.529 / (6.529 + 15.934))
/
(7.314 / (7.314 + 18.214))
=
0.290656
/
0.286509
=
1.0145
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
=
(18.997 - 0
-
16.022)
/
83.881
=
0.035467
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.
LSI Software has a M-score of -2.01 suggests that the company is unlikely to be a manipulator.
LSI Software (WAR:LSI) has a Beneish M-Score of -2.01 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on LSI Software and its competitors. According to the industry distribution chart, LSI Software ranks #2011 out of 2631 companies in the Software industry, placing it in the top 76.4%.
Is LSI Software's Beneish M-Score too high?
LSI Software's current Beneish M-Score is -2.01. Based on the distribution chart, LSI Software ranks #2011 out of 2631 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, LSI Software has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does LSI Software's Beneish M-Score compare to UBER and SHOP?
According to the Software industry distribution chart, LSI Software ranks #2011 out of 2631 companies for Beneish M-Score. This places LSI Software 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 LSI Software and its competitors. LSI Software's current Beneish M-Score is -2.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LSI Software stock overvalued right now?
Based on GuruFocus' analysis, LSI Software (WAR:LSI) is currently considered Significantly Overvalued. The stock's GF Value™ is zł26.07, compared to a current price of zł62.80 — trading 140.9% above its estimated fair value. The current Beneish M-Score is -2.01. LSI Software's overall GF Score™ is 77/100 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 LSI Software (WAR:LSI), the current Beneish M-Score is -2.01 as of Jul. 14, 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 LSI Software (WAR:LSI) Overvalued in 2026?
Based on GuruFocus' analysis, LSI Software stock appears to be overvalued.
The current stock price of zł62.80 is trading 140.9% above its estimated GF Value™ of zł26.07.
GuruFocus considers LSI Software to be Significantly Overvalued.
Key valuation signals for WAR:LSI:
Beneish M-Score: -2.01
GF Value™: zł26.07 vs. price of zł62.80 (140.9% above fair value)
No single metric tells the full story. See the WAR:LSI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
LSI Software SA is engaged in software development for retail and hospitality sectors as well as for cinema operators. It also involved in professional services, implementation services, maintenance, and the supplying of hardware solutions. The company products are bifurcated namely Bastion Enterprise Resource Planning (ERP), Positive Retail, Positive Hospitality and Expert computer hardware. The company derives majority of its revenues from the sale of the Software business and has operations spread across Poland. Its geographic segments include Poland and other countries.
77GF Score
Get the complete analysis for WAR:LSI
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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