ValeXTER:CVLC 71 Beneish M-Score is -2.61 as of Jun. 24, 2026. GuruFocus rates XTER:CVLC with a GF Score™ of 71/100 and a GF Value™ of €3.61. The stock has 5 warning signs investors should review. Among 685 Metals & Mining companies, Vale ranks better than 66.42% 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 -2.61 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Vale's Beneish M-Score or its related term are showing as below:
XTER:CVLC'
s Beneish M-Score Range Over the Past 10 Years
Min: -3 Med: -2.55 Max: -1.01
Current: -2.61
During the past 13 years, the highest Beneish M-Score of Vale was -1.01. The lowest was -3.00. And the median was -2.55.
Vale Beneish M-Score Related Terms
Vale Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Vale'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 Other Industrial Metals & Mining subindustry, Vale'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.
Vale Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Vale's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Vale'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 Vale 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 * 1.1178
+
0.528 * 1.0117
+
0.404 * 0.8944
+
0.892 * 0.9704
+
0.115 * 1.03
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0077
+
4.679 * -0.023793
-
0.327 * 1.0738
=
-2.57
* 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))
=
(2827.755 / (2827.755 + 38788.025))
/
(2789.997 / (2789.997 + 39501.09))
=
0.067949
/
0.065971
=
1.03
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
=
(2477.728 - -3454.583
-
7735.037)
/
75766.215
=
-0.023793
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.
Vale has a M-score of -2.57 suggests that the company is unlikely to be a manipulator.
Vale (XTER:CVLC) has a Beneish M-Score of -2.61 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vale and its competitors. According to the industry distribution chart, Vale ranks #230 out of 685 companies in the Metals & Mining industry, placing it in the top 33.6%.
Is Vale's Beneish M-Score too high?
Vale's current Beneish M-Score is -2.61. Based on the distribution chart, Vale ranks #230 out of 685 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Vale has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does Vale's Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Vale ranks #230 out of 685 companies for Beneish M-Score. This puts Vale 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 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 Vale and its competitors. Vale's current Beneish M-Score is -2.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vale stock overvalued right now?
Vale (XTER:CVLC) has a current Beneish M-Score of -2.61. The stock's GF Value™ is €3.61, compared to a current price of €4.36 — trading 20.8% above its estimated fair value. The current Beneish M-Score is -2.61. Vale's overall GF Score™ is 71/100 with 5 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 Vale (XTER:CVLC), the current Beneish M-Score is -2.61 as of Jun. 24, 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 Vale (XTER:CVLC) Overvalued in 2026?
Based on GuruFocus' analysis, Vale stock appears to be overvalued.
The current stock price of €4.36 is trading 20.8% above its estimated GF Value™ of €3.61.
Key valuation signals for XTER:CVLC:
Beneish M-Score: -2.61
GF Value™: €3.61 vs. price of €4.36 (20.8% above fair value)
No single metric tells the full story. See the XTER:CVLC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by its iron ore business. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. In 2024, Vale sold a minority 10% stake in its base metals business, likely the first step in separating base metals and iron ore.
71GF Score
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