Moliera2 (WAR:MO2) Beneish M-Score: -6.78 (As of Jun. 26, 2026)


What is Moliera2 Beneish M-Score?

Moliera2 WAR:MO2 -3.27% Beneish M-Score is -6.78 as of Jun. 26, 2026. The stock has 5 warning signs investors should review. Among 1,087 Retail - Cyclical companies, Moliera2 ranks better than 98.99% 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 -6.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Moliera2's Beneish M-Score or its related term are showing as below:

WAR:MO2' s Beneish M-Score Range Over the Past 10 Years
Min: -8.37   Med: -1.64   Max: 478.97
Current: -6.78

During the past 13 years, the highest Beneish M-Score of Moliera2 was 478.97. The lowest was -8.37. And the median was -1.64.

Moliera2 Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Moliera2'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.

Moliera2 Beneish M-Score Chart

Moliera2 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 6.04 -2.11 -5.12 -2.38 -6.78

Moliera2 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 -6.78 0.00

WAR:MO2 vs TJX, ROST, BURL: Beneish M-Score Comparison

For the Apparel Retail subindustry, Moliera2'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.

Moliera2 Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Moliera2's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Moliera2's Beneish M-Score falls into.


Moliera2 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 Moliera2 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 * 1.5626+0.528 * 1.0881+0.404 * 1.5958+0.892 * 0.7441+0.115 * 0.6639
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -1.016146-0.327 * 1.2475
=-6.78

* 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 zł2.04 Mil.
Revenue was zł57.84 Mil.
Gross Profit was zł14.85 Mil.
Total Current Assets was zł17.92 Mil.
Total Assets was zł22.73 Mil.
Property, Plant and Equipment(Net PPE) was zł1.60 Mil.
Depreciation, Depletion and Amortization(DDA) was zł1.20 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł20.43 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Net Income was zł-18.72 Mil.
Gross Profit was zł0.00 Mil.
Cash Flow from Operations was zł4.38 Mil.
 Total Receivables was zł1.75 Mil.
Revenue was zł77.73 Mil.
Gross Profit was zł21.72 Mil.
Total Current Assets was zł33.34 Mil.
Total Assets was zł40.66 Mil.
Property, Plant and Equipment(Net PPE) was zł3.72 Mil.
Depreciation, Depletion and Amortization(DDA) was zł1.48 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł29.11 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.18 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)
=(2.036 / 57.841) / (1.751 / 77.728)
=0.0352 / 0.022527
=1.5626

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)
=(21.716 / 77.728) / (14.851 / 57.841)
=0.279385 / 0.256756
=1.0881

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 - (17.917 + 1.597) / 22.73) / (1 - (33.338 + 3.716) / 40.659)
=0.141487 / 0.088664
=1.5958

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
=57.841 / 77.728
=0.7441

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))
=(1.482 / (1.482 + 3.716)) / (1.202 / (1.202 + 1.597))
=0.28511 / 0.429439
=0.6639

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 / 57.841) / (0 / 77.728)
=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 + 20.428) / 22.73) / ((0.18 + 29.112) / 40.659)
=0.898724 / 0.720431
=1.2475

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
=(-18.718 - 0 - 4.379) / 22.73
=-1.016146

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.

Moliera2 has a M-score of -6.78 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 -6.78 mean?
Moliera2 (WAR:MO2) has a Beneish M-Score of -6.78 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Moliera2 and its competitors. According to the industry distribution chart, Moliera2 ranks #11 out of 1087 companies in the Retail - Cyclical industry, placing it in the top 1%.
Is Moliera2's Beneish M-Score too high?
Moliera2's current Beneish M-Score is -6.78. Based on the distribution chart, Moliera2 ranks #11 out of 1087 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers.
How does Moliera2's Beneish M-Score compare to TJX and ROST?
According to the Retail - Cyclical industry distribution chart, Moliera2 ranks #11 out of 1087 companies for Beneish M-Score. This places Moliera2 in the top 1% 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 Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 Moliera2 and its competitors. Moliera2's current Beneish M-Score is -6.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Moliera2 stock overvalued right now?
Based on GuruFocus' analysis, Moliera2 (WAR:MO2) is currently considered Significantly Overvalued. The stock's GF Value™ is zł0.03, compared to a current price of zł0.07 — trading 146.7% above its estimated fair value. The current Beneish M-Score is -6.78. 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 Moliera2 (WAR:MO2), the current Beneish M-Score is -6.78 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.

Moliera2 Business Description

Other Exchanges 8F4:Germany
Address ul. Kopernika 5 lok. 7, Warszawa, POL, 00-367
Moliera2 SA is a Poland-based e-commerce company. It is engaged in the sale of Sweatshirts, Vests, Caps, Jeans, Hand Bags, Hair accessories, Blankets, Pillows, and Cutlery among several other products.