DIGI Spain TelecomU (XMAD:DIGIS) Beneish M-Score: -2.16 (As of Sep. 11, 2026)

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XMAD:DIGIS DIGI Spain Telecom SAU XMAD:DIGIS
7 GF Score
Price €6.54
! 4 Warning Signs
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What is DIGI Spain TelecomU Beneish M-Score?

DIGI Spain TelecomU XMAD:DIGIS +1.40% 7 Beneish M-Score is -2.16 as of Sep. 11, 2026. GuruFocus rates XMAD:DIGIS with a GF Score™ of 7/100. The stock has 4 warning signs investors should review. Among 360 Telecommunication Services companies, DIGI Spain TelecomU ranks worse than 83.06% 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 -2.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XMAD:DIGIS' s Beneish M-Score Range Over the Past 10 Years
Min: -2.16   Med: 0   Max: 0
Current: -2.16

During the past 3 years, the highest Beneish M-Score of DIGI Spain TelecomU was 0.00. The lowest was -2.16. And the median was 0.00.

DIGI Spain TelecomU Beneish M-Score Historical Data

* Premium members only.

The historical data trend for DIGI Spain TelecomU'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.

DIGI Spain TelecomU Beneish M-Score Chart

DIGI Spain TelecomU Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.16

DIGI Spain TelecomU Semi-Annual Data
Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 -2.16

XMAD:DIGIS vs VZ, TMUS, T: Beneish M-Score Comparison

For the Telecom Services subindustry, DIGI Spain TelecomU'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.

DIGI Spain TelecomU Beneish M-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, DIGI Spain TelecomU's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where DIGI Spain TelecomU's Beneish M-Score falls into.


XMAD:DIGIS
7GF Score
DIGI Spain Telecom SAU XMAD:DIGIS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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DIGI Spain TelecomU 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 DIGI Spain TelecomU 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 * 2.0889+0.528 * 0.9408+0.404 * 1.2388+0.892 * 1.1883+0.115 * 0.9432
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1325+4.679 * -0.183449-0.327 * 1.0712
=-2.16

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was €131.8 Mil.
Revenue was €929.1 Mil.
Gross Profit was €442.8 Mil.
Total Current Assets was €194.4 Mil.
Total Assets was €1,226.5 Mil.
Property, Plant and Equipment(Net PPE) was €786.9 Mil.
Depreciation, Depletion and Amortization(DDA) was €195.1 Mil.
Selling, General, & Admin. Expense(SGA) was €10.9 Mil.
Total Current Liabilities was €345.9 Mil.
Long-Term Debt & Capital Lease Obligation was €386.7 Mil.
Net Income was €3.8 Mil.
Gross Profit was €0.0 Mil.
Cash Flow from Operations was €228.8 Mil.
 Total Receivables was €53.1 Mil.
Revenue was €781.9 Mil.
Gross Profit was €350.6 Mil.
Total Current Assets was €146.0 Mil.
Total Assets was €948.7 Mil.
Property, Plant and Equipment(Net PPE) was €649.6 Mil.
Depreciation, Depletion and Amortization(DDA) was €149.8 Mil.
Selling, General, & Admin. Expense(SGA) was €8.1 Mil.
Total Current Liabilities was €357.0 Mil.
Long-Term Debt & Capital Lease Obligation was €172.0 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)
=(131.8 / 929.1) / (53.1 / 781.9)
=0.141858 / 0.067911
=2.0889

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)
=(350.6 / 781.9) / (442.8 / 929.1)
=0.448395 / 0.47659
=0.9408

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 - (194.4 + 786.9) / 1226.5) / (1 - (146 + 649.6) / 948.7)
=0.199918 / 0.161379
=1.2388

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
=929.1 / 781.9
=1.1883

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))
=(149.8 / (149.8 + 649.6)) / (195.1 / (195.1 + 786.9))
=0.187391 / 0.198676
=0.9432

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)
=(10.9 / 929.1) / (8.1 / 781.9)
=0.011732 / 0.010359
=1.1325

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)
=((386.7 + 345.9) / 1226.5) / ((172 + 357) / 948.7)
=0.597309 / 0.557605
=1.0712

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
=(3.8 - 0 - 228.8) / 1226.5
=-0.183449

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.

DIGI Spain TelecomU has a M-score of -2.16 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 -2.16 mean?
DIGI Spain TelecomU (XMAD:DIGIS) has a Beneish M-Score of -2.16 as of Sep. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on DIGI Spain TelecomU and its competitors. According to the industry distribution chart, DIGI Spain TelecomU ranks #299 out of 360 companies in the Telecommunication Services industry, placing it in the top 83.1%.
Is DIGI Spain TelecomU's Beneish M-Score too high?
DIGI Spain TelecomU's current Beneish M-Score is -2.16. Based on the distribution chart, DIGI Spain TelecomU ranks #299 out of 360 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, DIGI Spain TelecomU has a GF Score™ of 7/100, reflecting its overall financial health beyond just this single metric.
How does DIGI Spain TelecomU's Beneish M-Score compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, DIGI Spain TelecomU ranks #299 out of 360 companies for Beneish M-Score. This places DIGI Spain TelecomU 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 Telecommunication Services company?
A good Beneish M-Score depends on the Telecommunication 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 DIGI Spain TelecomU and its competitors. DIGI Spain TelecomU's current Beneish M-Score is -2.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DIGI Spain TelecomU stock overvalued right now?
DIGI Spain TelecomU (XMAD:DIGIS) has a current Beneish M-Score of -2.16. The current Beneish M-Score is -2.16. DIGI Spain TelecomU's overall GF Score™ is 7/100 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 DIGI Spain TelecomU (XMAD:DIGIS), the current Beneish M-Score is -2.16 as of Sep. 11, 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.

DIGI Spain TelecomU Business Description

Other Exchanges DIGISe:UKV29:Germany
Address Calle Francisca Delgado, 11, Planta 1 A, Alcobendas, Madrid, ESP, 28108
DIGI Spain Telecom SAU is a spanish telecommunications operator. offering internet, fixed and mobile services, as well as pay TV. It operates its own fibreoptic network with good internet access speed. The company operates in Romania, Belgium, Italy, Portugal and the United Kingdom. The activities of the company include implementation, development, and commercialization of telecommunications, telematics, and multimedia products and services; commercialization, maintenance, and technical support for telecommunications, information technology, and office automation systems and equipment; planning, design, construction, deployment, installation, operation, and maintenance of fixed and mobile electronic communications networks, and other auxiliary infrastructure, and other related activities.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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