PatentusWAR:PAT +0.37%82 Beneish M-Score is -1.89 as of Jun. 26, 2026. GuruFocus rates WAR:PAT with a GF Score™ of 82/100 and a GF Value™ of zł2.57 (Fairly Valued). The stock has 2 warning signs investors should review. Among 2,926 Industrial Products companies, Patentus ranks worse than 81.75% 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 -1.89 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Patentus's Beneish M-Score or its related term are showing as below:
WAR:PAT'
s Beneish M-Score Range Over the Past 10 Years
Min: -8.35 Med: -2.72 Max: 3.87
Current: -1.89
During the past 13 years, the highest Beneish M-Score of Patentus was 3.87. The lowest was -8.35. And the median was -2.72.
Patentus Beneish M-Score Related Terms
Patentus Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Patentus'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:PAT vs GEV, ETN, PH: Beneish M-Score Comparison
For the Specialty Industrial Machinery subindustry, Patentus'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.
Patentus Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Patentus's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Patentus'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 Patentus 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 * 1.8325
+
0.528 * 1.9269
+
0.404 * 0.8659
+
0.892 * 0.5716
+
0.115 * 1.3822
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.9704
+
4.679 * -0.048276
-
0.327 * 0.63
=
-1.89
* 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))
=
(10.075 / (10.075 + 72.477))
/
(9.339 / (9.339 + 96.431))
=
0.122044
/
0.088295
=
1.3822
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
=
(8.792 - 0
-
18.191)
/
194.691
=
-0.048276
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.
Patentus has a M-score of -1.89 suggests that the company is unlikely to be a manipulator.
Patentus (WAR:PAT) has a Beneish M-Score of -1.89 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Patentus and its competitors. According to the industry distribution chart, Patentus ranks #2392 out of 2926 companies in the Industrial Products industry, placing it in the top 81.7%.
Is Patentus' Beneish M-Score too high?
Patentus' current Beneish M-Score is -1.89. Based on the distribution chart, Patentus ranks #2392 out of 2926 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Patentus has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Patentus' Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Patentus ranks #2392 out of 2926 companies for Beneish M-Score. This places Patentus 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Patentus and its competitors. Patentus's current Beneish M-Score is -1.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Patentus stock overvalued right now?
Based on GuruFocus' analysis, Patentus (WAR:PAT) is currently considered Fairly Valued. The stock's GF Value™ is zł2.57, compared to a current price of zł2.71 — trading 5.4% above its estimated fair value. The current Beneish M-Score is -1.89. Patentus' overall GF Score™ is 82/100 with 2 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 Patentus (WAR:PAT), the current Beneish M-Score is -1.89 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 Patentus (WAR:PAT) Overvalued in 2026?
Based on GuruFocus' analysis, Patentus stock appears to be overvalued.
The current stock price of zł2.71 is trading 5.4% above its estimated GF Value™ of zł2.57.
GuruFocus considers Patentus to be Fairly Valued.
Key valuation signals for WAR:PAT:
Beneish M-Score: -1.89
GF Value™: zł2.57 vs. price of zł2.71 (5.4% above fair value)
No single metric tells the full story. See the WAR:PAT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Patentus SA is engaged in the manufacturing of mining, quarrying, and construction machinery in Poland. The company manufactures and sells conveyors, coal crushers, haulage platforms, working drift platforms, draught lyre coolers, welded steel constructions, and welding equipment, among others. Additionally, it operates in the field of installation, repair, and maintenance of mining, quarrying, and construction machinery, as well as in the wholesale of steel products, welding products, and packaging. The company has two operating segments: the first operating segment is related to the production of machinery and equipment, and the provision of services to the mining industry. The second operating segment includes the wholesale of goods and materials.
82GF Score
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