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 -2.32 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Las Vegasnds's Beneish M-Score or its related term are showing as below:
WBO:LVSC'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.69 Med: -2.5 Max: -0.83
Current: -2.32
During the past 13 years, the highest Beneish M-Score of Las Vegasnds was -0.83. The lowest was -3.69. And the median was -2.50.
Las Vegasnds Beneish M-Score Related Terms
Las Vegasnds Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Las Vegasnds'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.
WBO:LVSC vs MGM, WYNN, BYD: Beneish M-Score Comparison
For the Resorts & Casinos subindustry, Las Vegasnds'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.
Las Vegasnds Beneish M-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Las Vegasnds's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Las Vegasnds'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 Las Vegasnds 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 * 1.2812
+
0.528 * 0.9796
+
0.404 * 0.9454
+
0.892 * 1.136
+
0.115 * 0.9034
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8728
+
4.679 * -0.050937
-
0.327 * 1.0867
=
-2.39
* 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))
=
(1307.399 / (1307.399 + 13794.525))
/
(1324.477 / (1324.477 + 12497.52))
=
0.086572
/
0.095824
=
0.9034
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
=
(1584.46 - -247.35
-
2764.837)
/
18317.24
=
-0.050937
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.
Las Vegasnds has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.
Las Vegasnds (WBO:LVSC) has a Beneish M-Score of -2.32 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Las Vegasnds and its competitors. According to the industry distribution chart, Las Vegasnds ranks #604 out of 824 companies in the Travel & Leisure industry, placing it in the top 73.3%.
Is Las Vegasnds' Beneish M-Score too high?
Las Vegasnds' current Beneish M-Score is -2.32. Based on the distribution chart, Las Vegasnds ranks #604 out of 824 companies in the Travel & Leisure industry, which is below the industry midpoint. Overall, Las Vegasnds has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Las Vegasnds' Beneish M-Score compare to MGM and WYNN?
According to the Travel & Leisure industry distribution chart, Las Vegasnds ranks #604 out of 824 companies for Beneish M-Score. This places Las Vegasnds 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Las Vegasnds and its competitors. Las Vegasnds's current Beneish M-Score is -2.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Las Vegasnds stock overvalued right now?
Based on GuruFocus' analysis, Las Vegasnds (WBO:LVSC) is currently considered Modestly Undervalued. The stock's GF Value™ is €58.82, compared to a current price of €42.74 — trading 27.3% below its estimated fair value. The current Beneish M-Score is -2.32. Las Vegasnds' overall GF Score™ is 81/100 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 Las Vegasnds (WBO:LVSC), the current Beneish M-Score is -2.32 as of Jun. 25, 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 Las Vegasnds (WBO:LVSC) Overvalued in 2026?
Based on GuruFocus' analysis, Las Vegasnds stock appears to be undervalued.
The current stock price of €42.74 is trading 27.3% below its estimated GF Value™ of €58.82.
GuruFocus considers Las Vegasnds to be Modestly Undervalued.
Key valuation signals for WBO:LVSC:
Beneish M-Score: -2.32
GF Value™: €58.82 vs. price of €42.74 (27.3% below fair value)
No single metric tells the full story. See the WBO:LVSC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Las Vegas Sands is the world's largest operator of fully integrated resorts, featuring casino, hotel, entertainment, food and beverage, retail, and convention center operations. The company owns the Venetian Macao, Sands Macao, Londoner Macao, Four Seasons Hotel Macao, and Parisian Macao, as well as the Marina Bay Sands resort in Singapore. We expect Sands to open a fourth tower in Singapore in 2031. Its Venetian and Palazzo Las Vegas assets in the US were sold to Apollo and Vici in 2022. After the sale of its Vegas assets, Sands generates all its EBITDA from Asia, with its casino operations generating the majority of sales.
81GF Score
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