Match Group (WBO:MTC2) Beneish M-Score: -3.03 (As of Jun. 25, 2026)


WBO:MTC2 Match Group Inc WBO:MTC2
82 GF Score
Price €31.56
GF Value €33.86
! 4 Warning Signs
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What is Match Group Beneish M-Score?

Match Group WBO:MTC2 +2.35% 82 Beneish M-Score is -3.03 as of Jun. 25, 2026. GuruFocus rates WBO:MTC2 with a GF Score™ of 82/100 and a GF Value™ of €33.86. The stock has 4 warning signs investors should review. Among 532 Interactive Media companies, Match Group ranks better than 68.98% 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 -3.03 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

WBO:MTC2' s Beneish M-Score Range Over the Past 10 Years
Min: -4.84   Med: -2.62   Max: 0.94
Current: -3.03

During the past 13 years, the highest Beneish M-Score of Match Group was 0.94. The lowest was -4.84. And the median was -2.62.


Match Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Match 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.

Match Group Beneish M-Score Chart

Match Group 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 -2.08 -2.23 -2.26 -2.80 -3.02

Match Group 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 -2.35 -2.82 -2.95 -3.02 -3.03

WBO:MTC2 vs ZG, SNAP, BILI: Beneish M-Score Comparison

For the Internet Content & Information subindustry, Match 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.


Match Group Beneish M-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Match Group's Beneish M-Score distribution charts can be found below:

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


WBO:MTC2
82GF Score
Match Group Inc WBO:MTC2
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Match 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 Match Group 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 * 0.8969+0.528 * 0.9736+0.404 * 0.8648+0.892 * 0.9453+0.115 * 0.9886
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0141+4.679 * -0.082618-0.327 * 0.9984
=-3.08

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was €254 Mil.
Revenue was 747.303 + 749.817 + 778.962 + 748.861 = €3,025 Mil.
Gross Profit was 565.085 + 559.815 + 568.482 + 539.101 = €2,232 Mil.
Total Current Assets was €1,230 Mil.
Total Assets was €3,813 Mil.
Property, Plant and Equipment(Net PPE) was €120 Mil.
Depreciation, Depletion and Amortization(DDA) was €72 Mil.
Selling, General, & Admin. Expense(SGA) was €941 Mil.
Total Current Liabilities was €784 Mil.
Long-Term Debt & Capital Lease Obligation was €3,071 Mil.
Net Income was 144.314 + 179.04 + 136.958 + 108.789 = €569 Mil.
Non Operating Income was -30.971 + -3.627 + -4.355 + -5.306 = €-44 Mil.
Cash Flow from Operations was 168.12 + 275.654 + 273.186 + 211.411 = €928 Mil.
Total Receivables was €299 Mil.
Revenue was 768.84 + 821.468 + 806.831 + 802.717 = €3,200 Mil.
Gross Profit was 549.7 + 595.693 + 578.762 + 575.123 = €2,299 Mil.
Total Current Assets was €769 Mil.
Total Assets was €3,598 Mil.
Property, Plant and Equipment(Net PPE) was €141 Mil.
Depreciation, Depletion and Amortization(DDA) was €83 Mil.
Selling, General, & Admin. Expense(SGA) was €981 Mil.
Total Current Liabilities was €474 Mil.
Long-Term Debt & Capital Lease Obligation was €3,170 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)
=(253.606 / 3024.943) / (299.096 / 3199.856)
=0.083838 / 0.093472
=0.8969

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)
=(2299.278 / 3199.856) / (2232.483 / 3024.943)
=0.718557 / 0.738025
=0.9736

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 - (1230.193 + 120.129) / 3812.866) / (1 - (769.404 + 141.436) / 3598.144)
=0.645851 / 0.746858
=0.8648

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
=3024.943 / 3199.856
=0.9453

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))
=(82.807 / (82.807 + 141.436)) / (71.625 / (71.625 + 120.129))
=0.369274 / 0.373525
=0.9886

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)
=(940.688 / 3024.943) / (981.281 / 3199.856)
=0.310977 / 0.306664
=1.0141

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)
=((3071.159 + 784.203) / 3812.866) / ((3170.127 + 473.941) / 3598.144)
=1.011145 / 1.012763
=0.9984

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
=(569.101 - -44.259 - 928.371) / 3812.866
=-0.082618

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.

Match Group has a M-score of -3.08 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 -3.03 mean?
Match Group (WBO:MTC2) has a Beneish M-Score of -3.03 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Match Group and its competitors. According to the industry distribution chart, Match Group ranks #165 out of 532 companies in the Interactive Media industry, placing it in the top 31%.
Is Match Group's Beneish M-Score too high?
Match Group's current Beneish M-Score is -3.03. Based on the distribution chart, Match Group ranks #165 out of 532 companies in the Interactive Media industry, which is above the industry midpoint. Overall, Match Group has a GF Score™ of 82/100, reflecting its overall financial health beyond just this single metric.
How does Match Group's Beneish M-Score compare to ZG and SNAP?
According to the Interactive Media industry distribution chart, Match Group ranks #165 out of 532 companies for Beneish M-Score. This puts Match Group in the upper 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 Interactive Media company?
A good Beneish M-Score depends on the Interactive Media 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 Match Group and its competitors. Match Group's current Beneish M-Score is -3.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Match Group stock overvalued right now?
Match Group (WBO:MTC2) has a current Beneish M-Score of -3.03. The stock's GF Value™ is €33.86, compared to a current price of €31.56 — trading 6.8% below its estimated fair value. The current Beneish M-Score is -3.03. Match Group's overall GF Score™ is 82/100 with 4 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 Match Group (WBO:MTC2), the current Beneish M-Score is -3.03 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 Match Group (WBO:MTC2) Overvalued in 2026?

Based on GuruFocus' analysis, Match Group stock appears to be undervalued. The current stock price of €31.56 is trading 6.8% below its estimated GF Value™ of €33.86.

Key valuation signals for WBO:MTC2:

  • Beneish M-Score: -3.03
  • GF Value™: €33.86 vs. price of €31.56 (6.8% below fair value)
  • GF Score™: 82/100 with 4 warning signs

No single metric tells the full story. See the WBO:MTC2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Match Group Business Description

Address 8750 North Central Expressway, Suite 1400, Dallas, TX, USA, 75231
Match Group Inc is a provider of online dating products. The company's portfolio of brands includes Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, BLK, and more, each built to increase its user's likelihood of connecting with others. The company has four operating segments: Tinder, Hinge, Evergreen and Emerging, and Match Group Asia. It generates the majority of its revenue from the Tinder segment.
82GF Score

Get the complete analysis for WBO:MTC2

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€31.56
Price
€33.86
GF Value