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Billboard Ad OrXBUL:BBRD 34 Beneish M-Score is -2.82 as of Jul. 27, 2026. GuruFocus rates XBUL:BBRD with a GF Score™ of 34/100 and a GF Value™ of €0.42 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 1,020 Business Services companies, Billboard Ad Or ranks better than 70.69% 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 -2.82 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Billboard Ad Or's Beneish M-Score or its related term are showing as below:
XBUL:BBRD'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.39 Med: -2.89 Max: -1.76
Current: -2.82
During the past 13 years, the highest Beneish M-Score of Billboard Ad Or was -1.76. The lowest was -3.39. And the median was -2.89.
Billboard Ad Or Beneish M-Score Related Terms
Billboard Ad Or Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Billboard Ad Or'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.
XBUL:BBRD vs CTAS, CPRT, GPN: Beneish M-Score Comparison
For the Specialty Business Services subindustry, Billboard Ad Or'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.
Billboard Ad Or Beneish M-Score vs Business Services Industry
For the Business Services industry and Industrials sector, Billboard Ad Or's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Billboard Ad Or'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 Billboard Ad Or 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 * 1.0583
+
0.528 * 0.914
+
0.404 * 0.8221
+
0.892 * 0.9667
+
0.115 * 1.108
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.131
+
4.679 * -0.053506
-
0.327 * 0.971
=
-2.82
* 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))
=
(1.24 / (1.24 + 17.636))
/
(1.278 / (1.278 + 20.278))
=
0.065692
/
0.059287
=
1.108
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
=
(1.028 - 0
-
2.42)
/
26.016
=
-0.053506
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.
Billboard Ad Or has a M-score of -2.82 suggests that the company is unlikely to be a manipulator.
Billboard Ad Or (XBUL:BBRD) has a Beneish M-Score of -2.82 as of Jul. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Billboard Ad Or and its competitors. According to the industry distribution chart, Billboard Ad Or ranks #299 out of 1020 companies in the Business Services industry, placing it in the top 29.3%.
Is Billboard Ad Or's Beneish M-Score too high?
Billboard Ad Or's current Beneish M-Score is -2.82. Based on the distribution chart, Billboard Ad Or ranks #299 out of 1020 companies in the Business Services industry, which is above the industry midpoint. Overall, Billboard Ad Or has a GF Score™ of 34/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Billboard Ad Or's Beneish M-Score compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Billboard Ad Or ranks #299 out of 1020 companies for Beneish M-Score. This puts Billboard Ad Or 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 a Business Services company?
A good Beneish M-Score depends on the Business Services 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 Billboard Ad Or and its competitors. Billboard Ad Or's current Beneish M-Score is -2.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Billboard Ad Or stock overvalued right now?
Based on GuruFocus' analysis, Billboard Ad Or (XBUL:BBRD) is currently considered Possible Value Trap. The stock's GF Value™ is €0.42, compared to a current price of €0.17 — trading 59% below its estimated fair value. The current Beneish M-Score is -2.82. Billboard Ad Or's overall GF Score™ is 34/100 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 Billboard Ad Or (XBUL:BBRD), the current Beneish M-Score is -2.82 as of Jul. 27, 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 Billboard Ad Or (XBUL:BBRD) Overvalued in 2026?
Based on GuruFocus' analysis, Billboard Ad Or stock appears to be undervalued.
The current stock price of €0.17 is trading 59% below its estimated GF Value™ of €0.42.
GuruFocus considers Billboard Ad Or to be Possible Value Trap.
Key valuation signals for XBUL:BBRD:
Beneish M-Score: -2.82
GF Value™: €0.42 vs. price of €0.17 (59% below fair value)
No single metric tells the full story. See the XBUL:BBRD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Billboard Ad Or is a Bulgaria based digital and offset printing company. It provides various solutions which include Digital printing solutions for billboards, packaging of buildings, branding of cars and photorealistic art galleries; Offset printing solutions for calendars, magazines and corporate periodicals and newsletters; Metro advertisement solutions covering transport advertising, advertising at the point of sale and advertising in urban environments and 3D printing solutions for making 3D models in the field of art, industrial design and architecture. Geographically, it has operations in France, Germany, Romania, and other countries; and generates a vast majority of its revenue from France.
34GF Score
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