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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 -2.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ashler et Manson's Beneish M-Score or its related term are showing as below:
XPAR:MLAEM'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.59 Med: -2.09 Max: 38.72
Current: -2.59
During the past 10 years, the highest Beneish M-Score of Ashler et Manson was 38.72. The lowest was -2.59. And the median was -2.09.
Ashler et Manson Beneish M-Score Related Terms
Ashler et Manson Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Ashler et Manson'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.
XPAR:MLAEM vs MRSH, AON, AJG: Beneish M-Score Comparison
For the Insurance Brokers subindustry, Ashler et Manson'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.
Ashler et Manson Beneish M-Score vs Insurance Industry
For the Insurance industry and Financial Services sector, Ashler et Manson's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ashler et Manson'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 Ashler et Manson 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 * 0.8154
+
0.528 * 0.9991
+
0.404 * 1.1344
+
0.892 * 0.7519
+
0.115 * 0.4167
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * 0.034942
-
0.327 * 0.6108
=
-2.59
* 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))
=
(0.001 / (0.001 + 0.003))
/
(0.003 / (0.003 + 0.002))
=
0.25
/
0.6
=
0.4167
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
=
(0.063 - 0
-
0)
/
1.803
=
0.034942
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.
Ashler et Manson has a M-score of -2.59 suggests that the company is unlikely to be a manipulator.
Ashler et Manson (XPAR:MLAEM) has a Beneish M-Score of -2.59 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ashler et Manson and its competitors. According to the industry distribution chart, Ashler et Manson ranks #155 out of 398 companies in the Insurance industry, placing it in the top 38.9%.
Is Ashler et Manson's Beneish M-Score too high?
Ashler et Manson's current Beneish M-Score is -2.59. Based on the distribution chart, Ashler et Manson ranks #155 out of 398 companies in the Insurance industry, which is above the industry midpoint. Overall, Ashler et Manson has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ashler et Manson's Beneish M-Score compare to MRSH and AON?
According to the Insurance industry distribution chart, Ashler et Manson ranks #155 out of 398 companies for Beneish M-Score. This puts Ashler et Manson 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Ashler et Manson and its competitors. Ashler et Manson's current Beneish M-Score is -2.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ashler et Manson stock overvalued right now?
Based on GuruFocus' analysis, Ashler et Manson (XPAR:MLAEM) is currently considered Modestly Overvalued. The stock's GF Value™ is €2.62, compared to a current price of €3.04 — trading 16% above its estimated fair value. The current Beneish M-Score is -2.59. Ashler et Manson's overall GF Score™ is 80/100 with 2 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 Ashler et Manson (XPAR:MLAEM), the current Beneish M-Score is -2.59 as of Jul. 15, 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 Ashler et Manson (XPAR:MLAEM) Overvalued in 2026?
Based on GuruFocus' analysis, Ashler et Manson stock appears to be overvalued.
The current stock price of €3.04 is trading 16% above its estimated GF Value™ of €2.62.
GuruFocus considers Ashler et Manson to be Modestly Overvalued.
Key valuation signals for XPAR:MLAEM:
Beneish M-Score: -2.59
GF Value™: €2.62 vs. price of €3.04 (16% above fair value)
No single metric tells the full story. See the XPAR:MLAEM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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