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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 -2.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for CME Group's Beneish M-Score or its related term are showing as below:
XBUL:MX4A'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.92 Med: -2.45 Max: -2.02
Current: -2.46
During the past 13 years, the highest Beneish M-Score of CME Group was -2.02. The lowest was -2.92. And the median was -2.45.
The historical data trend for CME 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.
XBUL:MX4A vs ICE, MCO, SPGI: Beneish M-Score Comparison
For the Financial Data & Stock Exchanges subindustry, CME 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.
CME Group Beneish M-Score vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, CME Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CME Group'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 CME 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 * 1.0733
+
0.528 * 1.0039
+
0.404 * 0.8862
+
0.892 * 1.051
+
0.115 * 0.9843
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0322
+
4.679 * -0.007098
-
0.327 * 1.0248
=
-2.46
* 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))
=
(565.229 / (565.229 + 615.611))
/
(564.042 / (564.042 + 595.764))
=
0.478667
/
0.486324
=
0.9843
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
=
(7272.32 - 2306.888
-
7309.641)
/
330242.765
=
-0.007098
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.
CME Group has a M-score of -2.46 suggests that the company is unlikely to be a manipulator.
CME Group (XBUL:MX4A) has a Beneish M-Score of -2.46 as of Aug. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CME Group and its competitors. According to the industry distribution chart, CME Group ranks #254 out of 705 companies in the Capital Markets industry, placing it in the top 36%.
Is CME Group's Beneish M-Score too high?
CME Group's current Beneish M-Score is -2.46. Based on the distribution chart, CME Group ranks #254 out of 705 companies in the Capital Markets industry, which is above the industry midpoint. Overall, CME Group has a GF Score™ of 84/100, reflecting its overall financial health beyond just this single metric.
How does CME Group's Beneish M-Score compare to ICE and MCO?
According to the Capital Markets industry distribution chart, CME Group ranks #254 out of 705 companies for Beneish M-Score. This puts CME 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 a Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 CME Group and its competitors. CME Group's current Beneish M-Score is -2.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CME Group stock overvalued right now?
CME Group (XBUL:MX4A) has a current Beneish M-Score of -2.46. The stock's GF Value™ is лв196.10, compared to a current price of лв189.34 — trading 3.4% below its estimated fair value. The current Beneish M-Score is -2.46. CME Group's overall GF Score™ is 84/100 with 3 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 CME Group (XBUL:MX4A), the current Beneish M-Score is -2.46 as of Aug. 13, 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 CME Group (XBUL:MX4A) Overvalued in 2026?
Based on GuruFocus' analysis, CME Group stock appears to be undervalued.
The current stock price of лв189.34 is trading 3.4% below its estimated GF Value™ of лв196.10.
Key valuation signals for XBUL:MX4A:
Beneish M-Score: -2.46
GF Value™: лв196.10 vs. price of лв189.34 (3.4% below fair value)
No single metric tells the full story. See the XBUL:MX4A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Based in Chicago, CME Group operates exchanges giving investors, suppliers, and businesses the ability to trade futures and derivatives based on interest rates, equity indexes, foreign currencies, energy, metals, and commodities. The Chicago Mercantile Exchange was founded in 1898 and in 2002 completed its IPO. Since then, CME Group has consolidated parts of the industry by merging with crosstown rival CBOT Holdings in 2007 before acquiring Nymex Holdings in 2008 and NEX in 2018. In addition, the company has a 27% stake in S&P Dow Jones Indexes, making the Chicago Mercantile Exchange the exclusive venue to trade and clear S&P futures contracts. Through CME's acquisition of NEX, it also expanded into cash foreign exchange, fixed-income trading, and collateral optimization.
84GF Score
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