KGHM Polska MiedzXPRA:KGH 90 Beneish M-Score is -1.50 as of Jul. 01, 2026. GuruFocus rates XPRA:KGH with a GF Score™ of 90/100 and a GF Value™ of Kč900.85 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 683 Metals & Mining companies, KGHM Polska Miedz ranks worse than 76.72% 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.
Warning Sign:
Beneish M-Score -1.5 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for KGHM Polska Miedz's Beneish M-Score or its related term are showing as below:
XPRA:KGH'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.3 Med: -2.73 Max: 1.91
Current: -1.5
During the past 13 years, the highest Beneish M-Score of KGHM Polska Miedz was 1.91. The lowest was -4.30. And the median was -2.73.
KGHM Polska Miedz Beneish M-Score Related Terms
KGHM Polska Miedz Beneish M-Score Historical Data
* Premium members only.
The historical data trend for KGHM Polska Miedz'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 Copper subindustry, KGHM Polska Miedz'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.
KGHM Polska Miedz Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, KGHM Polska Miedz's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where KGHM Polska Miedz'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 KGHM Polska Miedz 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 * 1.7783
+
0.528 * 0.7861
+
0.404 * 1.0485
+
0.892 * 1.0932
+
0.115 * 0.938
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.933
+
4.679 * 0.056323
-
0.327 * 0.9723
=
-1.50
* 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))
=
(11642.05 / (11642.05 + 166479.101))
/
(13232.613 / (13232.613 + 176679.702))
=
0.06536
/
0.069677
=
0.938
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
=
(38029.96 - 0
-
18291.493)
/
350448.891
=
0.056323
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.
KGHM Polska Miedz has a M-score of -1.50 signals that the company is likely to be a manipulator.
KGHM Polska Miedz (XPRA:KGH) has a Beneish M-Score of -1.50 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on KGHM Polska Miedz and its competitors. According to the industry distribution chart, KGHM Polska Miedz ranks #524 out of 683 companies in the Metals & Mining industry, placing it in the top 76.7%.
Is KGHM Polska Miedz's Beneish M-Score too high?
KGHM Polska Miedz's current Beneish M-Score is -1.50. Based on the distribution chart, KGHM Polska Miedz ranks #524 out of 683 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, KGHM Polska Miedz has a GF Score™ of 90/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does KGHM Polska Miedz's Beneish M-Score compare to SCCO and FCX?
According to the Metals & Mining industry distribution chart, KGHM Polska Miedz ranks #524 out of 683 companies for Beneish M-Score. This places KGHM Polska Miedz 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 KGHM Polska Miedz and its competitors. KGHM Polska Miedz's current Beneish M-Score is -1.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KGHM Polska Miedz stock overvalued right now?
Based on GuruFocus' analysis, KGHM Polska Miedz (XPRA:KGH) is currently considered Significantly Overvalued. The stock's GF Value™ is Kč900.85, compared to a current price of Kč1,861.00 — trading 106.6% above its estimated fair value. The current Beneish M-Score is -1.50. KGHM Polska Miedz's overall GF Score™ is 90/100 with 6 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 KGHM Polska Miedz (XPRA:KGH), the current Beneish M-Score is -1.50 as of Jul. 01, 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 KGHM Polska Miedz (XPRA:KGH) Overvalued in 2026?
Based on GuruFocus' analysis, KGHM Polska Miedz stock appears to be overvalued.
The current stock price of Kč1,861.00 is trading 106.6% above its estimated GF Value™ of Kč900.85.
GuruFocus considers KGHM Polska Miedz to be Significantly Overvalued.
Key valuation signals for XPRA:KGH:
Beneish M-Score: -1.50
GF Value™: Kč900.85 vs. price of Kč1,861.00 (106.6% above fair value)
No single metric tells the full story. See the XPRA:KGH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KGHM Polska Miedz SA engages in copper ore mining and copper production predominantly in South-Western Poland. The company also produces precious metals such as silver, which is typically used for coins, jewelry, photography products, and industrial purposes. The bulk of group revenue is generated through copper sales, and the remainder is through sales of silver, while a minor portion is generated through the production of gold, salt, and casting of light metals. The materials are sold domestically, and exported to Germany, China, the U.S., the United Kingdom, and the Czech Republic, among many other European nations.
90GF Score
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