Revenga Ingenieros (XMAD:RSS) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


XMAD:RSS Revenga Ingenieros SA XMAD:RSS
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What is Revenga Ingenieros Beneish M-Score?

Revenga Ingenieros XMAD:RSS 10 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates XMAD:RSS with a GF Score™ of 10/100.

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 Revenga Ingenieros's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of Revenga Ingenieros was 0.00. The lowest was 0.00. And the median was 0.00.

Revenga Ingenieros Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Revenga Ingenieros'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.

Revenga Ingenieros Beneish M-Score Chart

Revenga Ingenieros Annual Data
Trend Dec20 Dec21 Dec22 Dec23
Beneish M-Score
0.00 0.00 -2.53 -2.33

Revenga Ingenieros Semi-Annual Data
Dec20 Dec21 Dec22 Jun23 Dec23 Jun24
Beneish M-Score Get a 7-Day Free Trial 0.00 -2.53 0.00 -2.33 0.00

XMAD:RSS vs IBM, ACN, FI: Beneish M-Score Comparison

For the Information Technology Services subindustry, Revenga Ingenieros'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.

Revenga Ingenieros Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Revenga Ingenieros's Beneish M-Score distribution charts can be found below:

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


XMAD:RSS
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Revenga Ingenieros SA XMAD:RSS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Revenga Ingenieros 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 Revenga Ingenieros 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 * 1.0764+0.528 * 0.6954+0.404 * 1.0882+0.892 * 0.7773+0.115 * 0.7215
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.083852-0.327 * 0.8816
=-2.33

* 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 (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was €16.97 Mil.
Revenue was €36.37 Mil.
Gross Profit was €22.22 Mil.
Total Current Assets was €29.68 Mil.
Total Assets was €48.24 Mil.
Property, Plant and Equipment(Net PPE) was €1.90 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.73 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €26.12 Mil.
Long-Term Debt & Capital Lease Obligation was €7.03 Mil.
Net Income was €0.19 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-3.86 Mil.
 Total Receivables was €20.29 Mil.
Revenue was €46.80 Mil.
Gross Profit was €19.88 Mil.
Total Current Assets was €32.64 Mil.
Total Assets was €51.99 Mil.
Property, Plant and Equipment(Net PPE) was €2.85 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.49 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €32.30 Mil.
Long-Term Debt & Capital Lease Obligation was €8.22 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)
=(16.973 / 36.374) / (20.287 / 46.798)
=0.466625 / 0.433501
=1.0764

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)
=(19.876 / 46.798) / (22.216 / 36.374)
=0.424719 / 0.610766
=0.6954

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 - (29.678 + 1.904) / 48.24) / (1 - (32.643 + 2.846) / 51.985)
=0.345315 / 0.317322
=1.0882

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
=36.374 / 46.798
=0.7773

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))
=(1.487 / (1.487 + 2.846)) / (1.727 / (1.727 + 1.904))
=0.34318 / 0.475627
=0.7215

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 / 36.374) / (0 / 46.798)
=0 / 0
=1

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)
=((7.025 + 26.124) / 48.24) / ((8.219 + 32.301) / 51.985)
=0.687168 / 0.779456
=0.8816

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
=(0.186 - 0 - -3.859) / 48.24
=0.083852

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.

Revenga Ingenieros has a M-score of -2.33 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?
Revenga Ingenieros (XMAD:RSS) 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 Revenga Ingenieros and its competitors.
Is Revenga Ingenieros' Beneish M-Score too high?
Revenga Ingenieros' current Beneish M-Score is 0.00. Overall, Revenga Ingenieros has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.
How does Revenga Ingenieros' Beneish M-Score compare to IBM and ACN?
Revenga Ingenieros' Beneish M-Score of 0.00 can be compared against companies in the Software 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 Software company?
A good Beneish M-Score depends on the Software 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 Revenga Ingenieros and its competitors. Revenga Ingenieros'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 Revenga Ingenieros stock overvalued right now?
Revenga Ingenieros (XMAD:RSS) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Revenga Ingenieros' overall GF Score™ is 10/100. 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 Revenga Ingenieros (XMAD:RSS), 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.

Revenga Ingenieros Business Description

Address Calle Fragua 6, Tres Cantos, Madrid, ESP, 28760
Revenga Ingenieros SA is a company engaged in the development of comprehensive solutions for telecommunications, information technologies, electronic security and railway systems. The technologies that support the company's activity are grouped into four parts such as Railway systems includes point heaters, level crossing protection, train monitoring systems, etc, Telecommunications networks includes implementing all types of telecommunications networks, both passive elements and equipment (SDH, DWDM, MPLS, WIFI/WIMAX, LTE, etc.). Information technologies provides voice, data and video solutions and Electronic security involves access management and detection through RFID, video surveillance, video analysis, biometrics, vehicle identification, detector systems, etc.
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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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