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CIELXMAU:CIEL 47 Beneish M-Score is -2.55 as of Aug. 04, 2026. GuruFocus rates XMAU:CIEL with a GF Score™ of 47/100 and a GF Value™ of MUR8.63 (Fairly Valued). The stock has 3 warning signs investors should review. Among 538 Conglomerates companies, CIEL ranks better than 56.51% 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 -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for CIEL's Beneish M-Score or its related term are showing as below:
XMAU:CIEL'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.87 Med: -2.48 Max: -0.75
Current: -2.55
During the past 13 years, the highest Beneish M-Score of CIEL was -0.75. The lowest was -2.87. And the median was -2.48.
The historical data trend for CIEL'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.
For the Conglomerates subindustry, CIEL'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.
CIEL Beneish M-Score vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, CIEL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CIEL'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 CIEL 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 * 1.1008
+
0.528 * 1.0651
+
0.404 * 0.8799
+
0.892 * 1.0811
+
0.115 * 0.9719
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0209
+
4.679 * -0.045067
-
0.327 * 1.0108
=
-2.55
* 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))
=
(1556.658 / (1556.658 + 32319.686))
/
(1789.252 / (1789.252 + 36056.093))
=
0.045951
/
0.047278
=
0.9719
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
=
(2167.203 - 0
-
7294.867)
/
113778.599
=
-0.045067
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.
CIEL has a M-score of -2.55 suggests that the company is unlikely to be a manipulator.
CIEL (XMAU:CIEL) has a Beneish M-Score of -2.55 as of Aug. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CIEL and its competitors. According to the industry distribution chart, CIEL ranks #234 out of 538 companies in the Conglomerates industry, placing it in the top 43.5%.
Is CIEL's Beneish M-Score too high?
CIEL's current Beneish M-Score is -2.55. Based on the distribution chart, CIEL ranks #234 out of 538 companies in the Conglomerates industry, which is above the industry midpoint. Overall, CIEL has a GF Score™ of 47/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CIEL's Beneish M-Score compare to MMM and HON?
According to the Conglomerates industry distribution chart, CIEL ranks #234 out of 538 companies for Beneish M-Score. This puts CIEL 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 Conglomerates company?
A good Beneish M-Score depends on the Conglomerates 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 CIEL and its competitors. CIEL's current Beneish M-Score is -2.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CIEL stock overvalued right now?
Based on GuruFocus' analysis, CIEL (XMAU:CIEL) is currently considered Fairly Valued. The stock's GF Value™ is MUR8.63, compared to a current price of MUR7.94 — trading 8% below its estimated fair value. The current Beneish M-Score is -2.55. CIEL's overall GF Score™ is 47/100 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 CIEL (XMAU:CIEL), the current Beneish M-Score is -2.55 as of Aug. 04, 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 CIEL (XMAU:CIEL) Overvalued in 2026?
Based on GuruFocus' analysis, CIEL stock appears to be undervalued.
The current stock price of MUR7.94 is trading 8% below its estimated GF Value™ of MUR8.63.
GuruFocus considers CIEL to be Fairly Valued.
Key valuation signals for XMAU:CIEL:
Beneish M-Score: -2.55
GF Value™: MUR8.63 vs. price of MUR7.94 (8% below fair value)
No single metric tells the full story. See the XMAU:CIEL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CIEL Ltd is an investment holding company. Its reportable segments are: i) Textile derives income mainly from the sale of knitwear, woven and fine knits products, ii) Agro earns income mainly from sugar production, iii) Property derives income mainly land and property development, iii) Hotels & Resorts derives income through the ownership and management of portfolio of hotels, iv) Financial services derive income mainly from banking, fiduciary products and portfolio management, v) Healthcare derives income through the running of healthcare facilities, and vi) CIEL - Holding Company derives income through dividend return from its investments. The majority of revenue is derived from the Textile segment from Mauritius, followed by Madagascar, Asia, South Africa, and others.
47GF Score
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