Energia Innovacion Y Desarrollo Fotovoltaico (XMAD:EIDF) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


XMAD:EIDF Energia Innovacion Y Desarrollo Fotovoltaico SA XMAD:EIDF
65 GF Score
Price €0.44
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What is Energia Innovacion Y Desarrollo Fotovoltaico Beneish M-Score?

Energia Innovacion Y Desarrollo Fotovoltaico XMAD:EIDF 65 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates XMAD:EIDF with a GF Score™ of 65/100.

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.

The historical rank and industry rank for Energia Innovacion Y Desarrollo Fotovoltaico's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of Energia Innovacion Y Desarrollo Fotovoltaico was 0.00. The lowest was 0.00. And the median was 0.00.

Energia Innovacion Y Desarrollo Fotovoltaico Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Energia Innovacion Y Desarrollo Fotovoltaico'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.

Energia Innovacion Y Desarrollo Fotovoltaico Beneish M-Score Chart

Energia Innovacion Y Desarrollo Fotovoltaico Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial 0.00 -13.62 1.64 -4.34 -4.16

Energia Innovacion Y Desarrollo Fotovoltaico Semi-Annual Data
Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.64 0.00 -4.34 0.00 -4.16

Energia Innovacion Y Desarrollo Fotovoltaico Beneish M-Score Competitor Comparison

For the Utilities - Renewable subindustry, Energia Innovacion Y Desarrollo Fotovoltaico'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.

Energia Innovacion Y Desarrollo Fotovoltaico Beneish M-Score vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Energia Innovacion Y Desarrollo Fotovoltaico's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Energia Innovacion Y Desarrollo Fotovoltaico's Beneish M-Score falls into.


XMAD:EIDF
65GF Score
Energia Innovacion Y Desarrollo Fotovoltaico SA XMAD:EIDF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Energia Innovacion Y Desarrollo Fotovoltaico 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 Energia Innovacion Y Desarrollo Fotovoltaico 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 * 0.8622+0.528 * 0.8854+0.404 * 0.6725+0.892 * 0.7302+0.115 * 0.5737
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.249664-0.327 * 1.2331
=-4.16

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was €36.9 Mil.
Revenue was €138.8 Mil.
Gross Profit was €30.7 Mil.
Total Current Assets was €96.7 Mil.
Total Assets was €142.2 Mil.
Property, Plant and Equipment(Net PPE) was €13.6 Mil.
Depreciation, Depletion and Amortization(DDA) was €3.7 Mil.
Selling, General, & Admin. Expense(SGA) was €0.0 Mil.
Total Current Liabilities was €91.0 Mil.
Long-Term Debt & Capital Lease Obligation was €18.4 Mil.
Net Income was €-49.0 Mil.
Gross Profit was €0.0 Mil.
Cash Flow from Operations was €-13.5 Mil.
 Total Receivables was €58.7 Mil.
Revenue was €190.1 Mil.
Gross Profit was €37.3 Mil.
Total Current Assets was €86.6 Mil.
Total Assets was €161.2 Mil.
Property, Plant and Equipment(Net PPE) was €20.9 Mil.
Depreciation, Depletion and Amortization(DDA) was €2.9 Mil.
Selling, General, & Admin. Expense(SGA) was €2.4 Mil.
Total Current Liabilities was €82.9 Mil.
Long-Term Debt & Capital Lease Obligation was €17.6 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)
=(36.937 / 138.832) / (58.673 / 190.137)
=0.266055 / 0.308583
=0.8622

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)
=(37.261 / 190.137) / (30.727 / 138.832)
=0.195969 / 0.221325
=0.8854

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 - (96.742 + 13.632) / 142.207) / (1 - (86.625 + 20.948) / 161.247)
=0.22385 / 0.332868
=0.6725

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
=138.832 / 190.137
=0.7302

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))
=(2.888 / (2.888 + 20.948)) / (3.65 / (3.65 + 13.632))
=0.121161 / 0.211202
=0.5737

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)
=(0 / 138.832) / (2.392 / 190.137)
=0 / 0.01258
=0

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)
=((18.366 + 90.978) / 142.207) / ((17.645 + 82.899) / 161.247)
=0.768907 / 0.62354
=1.2331

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
=(-49.011 - 0 - -13.507) / 142.207
=-0.249664

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.

Energia Innovacion Y Desarrollo Fotovoltaico has a M-score of -4.16 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 0.00 mean?
Energia Innovacion Y Desarrollo Fotovoltaico (XMAD:EIDF) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Energia Innovacion Y Desarrollo Fotovoltaico and its competitors.
Is Energia Innovacion Y Desarrollo Fotovoltaico's Beneish M-Score too high?
Energia Innovacion Y Desarrollo Fotovoltaico's current Beneish M-Score is 0.00. Overall, Energia Innovacion Y Desarrollo Fotovoltaico has a GF Score™ of 65/100, reflecting its overall financial health beyond just this single metric.
How does Energia Innovacion Y Desarrollo Fotovoltaico's Beneish M-Score compare to competitors?
Energia Innovacion Y Desarrollo Fotovoltaico's Beneish M-Score of 0.00 can be compared against companies in the Utilities - Independent Power Producers 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 Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Energia Innovacion Y Desarrollo Fotovoltaico and its competitors. Energia Innovacion Y Desarrollo Fotovoltaico's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Energia Innovacion Y Desarrollo Fotovoltaico stock overvalued right now?
Energia Innovacion Y Desarrollo Fotovoltaico (XMAD:EIDF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Energia Innovacion Y Desarrollo Fotovoltaico's overall GF Score™ is 65/100. 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 Energia Innovacion Y Desarrollo Fotovoltaico (XMAD:EIDF), the current Beneish M-Score is 0.00 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.

Energia Innovacion Y Desarrollo Fotovoltaico Business Description

Address Poligono Industrial Outeda - Curro, No.3, Mud, Pontevedra, ESP, 36692
Energia Innovacion Y Desarrollo Fotovoltaico SA is a company specialized in photovoltaic solar energy projects. It offers engineering services, energy consulting, and installation of low and medium voltage. It is engaged in self-consumption photovoltaic installations for companies. Some of its projects are Generation park-Pulpi I, Fricosa, Barcia pipes, Peregrin One Garlic among others. The company currently has two Operating Segments: Generation and self-consumption, and Marketing.
65GF Score

Get the complete analysis for XMAD:EIDF

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

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