Prefa Group (WAR:PFG) Beneish M-Score: 0.00 (As of Jul. 14, 2026)

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Prefa Group SA WAR:PFG

4 GF Score

Price zł31.40

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What is Prefa Group Beneish M-Score?

Prefa Group WAR:PFG 4 Beneish M-Score is 0.00 as of Jul. 14, 2026. GuruFocus rates WAR:PFG with a GF Score™ of 4/100.

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 Prefa Group's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of Prefa Group was 0.00. The lowest was 0.00. And the median was 0.00.

Prefa Group Beneish M-Score Related Terms

Prefa Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Prefa Group'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.

Prefa Group Beneish M-Score Chart

Prefa Group Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Beneish M-Score

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-16.70

0.00

-0.20

2.33

Prefa Group Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Mar23
Beneish M-Score	Get a 7-Day Free Trial															2.33	-0.59	-0.41	1.29	4.39

WAR:PFG vs CARR, MAS, CSL: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, Prefa Group'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.

Prefa Group Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Prefa Group's Beneish M-Score distribution charts can be found below:

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

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Prefa Group SA WAR:PFG

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Prefa Group 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 Prefa Group for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.2227

0.528 * 1.1104

0.404 * 15.8804

0.892 * 3.6237

0.115 * -0.8979

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.3111

4.679 * -0.161042

0.327 * 0.8132

4.42

This Year (Mar23) TTM:

Last Year (Dec21) TTM:

Total Receivables was zł16.13 Mil.
Revenue was 0.256 + 0.3 + 26.892 + 12.945 = zł40.39 Mil.
Gross Profit was -1.841 + 0.261 + 29.598 + 4.631 = zł32.65 Mil.
Total Current Assets was zł147.71 Mil.
Total Assets was zł193.91 Mil.
Property, Plant and Equipment(Net PPE) was zł18.16 Mil.
Depreciation, Depletion and Amortization(DDA) was zł-0.70 Mil.
Selling, General, & Admin. Expense(SGA) was zł10.13 Mil.
Total Current Liabilities was zł167.28 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Net Income was -11.076 + -11.261 + 1.006 + -6.048 = zł-27.38 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = zł0.00 Mil.
Cash Flow from Operations was -12.512 + 15 + 3.547 + -2.186 = zł3.85 Mil.

Total Receivables was zł19.99 Mil.
Revenue was 2.155 + 3.283 + 4.822 + 0.887 = zł11.15 Mil.
Gross Profit was 2.894 + 3.361 + 2.645 + 1.105 = zł10.01 Mil.
Total Current Assets was zł107.02 Mil.
Total Assets was zł120.25 Mil.
Property, Plant and Equipment(Net PPE) was zł12.14 Mil.
Depreciation, Depletion and Amortization(DDA) was zł0.46 Mil.
Selling, General, & Admin. Expense(SGA) was zł8.98 Mil.
Total Current Liabilities was zł93.49 Mil.
Long-Term Debt & Capital Lease Obligation was zł34.08 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)
	=	(16.131 / 40.393)	/	(19.993 / 11.147)
	=	0.399351	/	1.793577
	=	0.2227

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)
	=	(10.005 / 11.147)	/	(32.649 / 40.393)
	=	0.897551	/	0.808284
	=	1.1104

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 - (147.709 + 18.162) / 193.912)	/	(1 - (107.02 + 12.138) / 120.253)
	=	0.144607	/	0.009106
	=	15.8804

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
	=	40.393	/	11.147
	=	3.6237

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))
	=	(0.456 / (0.456 + 12.138))	/	(-0.704 / (-0.704 + 18.162))
	=	0.036208	/	-0.040325
	=	-0.8979

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)
	=	(10.125 / 40.393)	/	(8.982 / 11.147)
	=	0.250662	/	0.805777
	=	0.3111

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 + 167.277) / 193.912)	/	((34.079 + 93.487) / 120.253)
	=	0.862644	/	1.060813
	=	0.8132

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
	=	(-27.379 - 0	-	3.849)	/	193.912
	=	-0.161042

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.

Prefa Group has a M-score of 4.42 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?

Prefa Group (WAR:PFG) has a Beneish M-Score of 0.00 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Prefa Group and its competitors.

Is Prefa Group's Beneish M-Score too high?

Prefa Group's current Beneish M-Score is 0.00. Overall, Prefa Group has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.

How does Prefa Group's Beneish M-Score compare to CARR and MAS?

Prefa Group's Beneish M-Score of 0.00 can be compared against companies in the Construction 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Prefa Group and its competitors. Prefa Group'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 Prefa Group stock overvalued right now?

Prefa Group (WAR:PFG) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Prefa Group's overall GF Score™ is 4/100. 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 Prefa Group (WAR:PFG), the current Beneish M-Score is 0.00 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.

Prefa Group Business Description

Industry Industrials Construction

Comparable Companies WAR:LBT WAR:CPR WAR:ICA WAR:LTX TSE:6367 CARR XPAR:SGO XSWX:GEBN OSTO:NIBE B SZSE:002271 DUB:KRX MAS CSL HKSE:06865 BLDR HKSE:00868 WMS OC SZSE:000786 TREX

Address Koscianska Street 36, Poznan, POL, 60-112

Website https://www.prefa.com

Prefa Group SA is a manufacturer of prefabricated concrete and reinforced concrete construction materials for the construction sector.

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