Nord General (BUD:NORDGENERAL) Beneish M-Score: 0.00 (As of Jul. 26, 2026)

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Nord General PLC BUD:NORDGENERAL

22 GF Score

Price Ft7.00

GF Value Ft1.70

Valuation Significantly Overvalued

3 Warning Signs

View Full Analysis

What is Nord General Beneish M-Score?

Nord General BUD:NORDGENERAL 22 Beneish M-Score is 0.00 as of Jul. 26, 2026. GuruFocus rates BUD:NORDGENERAL with a GF Score™ of 22/100 and a GF Value™ of Ft1.70 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 350 Telecommunication Services companies, Nord General ranks worse than 285714% 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.

The historical rank and industry rank for Nord General's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Nord General was -2.34. The lowest was -10.14. And the median was -3.60.

Nord General Beneish M-Score Related Terms

Nord General Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Nord General'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.

Nord General Beneish M-Score Chart

Nord General Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-10.14

-8.72

0.00

Nord General Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	0.00	0.00	0.00

BUD:NORDGENERAL vs TMUS, VZ, T: Beneish M-Score Comparison

For the Telecom Services subindustry, Nord General'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.

Nord General Beneish M-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Nord General's Beneish M-Score distribution charts can be found below:

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

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22GF Score

Nord General PLC BUD:NORDGENERAL

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Nord General 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 Nord General for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was Ft1.82 Mil.
Revenue was Ft0.27 Mil.
Gross Profit was Ft0.27 Mil.
Total Current Assets was Ft9.21 Mil.
Total Assets was Ft9.79 Mil.
Property, Plant and Equipment(Net PPE) was Ft0.58 Mil.
Depreciation, Depletion and Amortization(DDA) was Ft0.10 Mil.
Selling, General, & Admin. Expense(SGA) was Ft7.07 Mil.
Total Current Liabilities was Ft3.88 Mil.
Long-Term Debt & Capital Lease Obligation was Ft0.00 Mil.
Net Income was Ft-21.42 Mil.
Gross Profit was Ft0.00 Mil.
Cash Flow from Operations was Ft-17.94 Mil.

Total Receivables was Ft1.57 Mil.
Revenue was Ft1.73 Mil.
Gross Profit was Ft-0.02 Mil.
Total Current Assets was Ft34.02 Mil.
Total Assets was Ft34.70 Mil.
Property, Plant and Equipment(Net PPE) was Ft0.68 Mil.
Depreciation, Depletion and Amortization(DDA) was Ft0.04 Mil.
Selling, General, & Admin. Expense(SGA) was Ft7.00 Mil.
Total Current Liabilities was Ft7.37 Mil.
Long-Term Debt & Capital Lease Obligation was Ft0.00 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)
	=	(1.821 / 0.265)	/	(1.566 / 1.726)
	=	6.871698	/	0.9073
	=

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)
	=	(-0.016 / 1.726)	/	(0.265 / 0.265)
	=	-0.00927	/	1
	=

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 - (9.212 + 0.58) / 9.792)	/	(1 - (34.019 + 0.684) / 34.703)
	=	0	/	0
	=

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
	=	0.265	/	1.726
	=

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))
	=	(0.038 / (0.038 + 0.684))	/	(0.104 / (0.104 + 0.58))
	=	0.052632	/	0.152047
	=

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)
	=	(7.065 / 0.265)	/	(7 / 1.726)
	=	26.660377	/	4.05562
	=

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)
	=	((0 + 3.88) / 9.792)	/	((0 + 7.368) / 34.703)
	=	0.396242	/	0.212316
	=

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
	=	(-21.423 - 0	-	-17.937)	/	9.792
	=	-0.356005

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.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 0.00 mean?

Nord General (BUD:NORDGENERAL) has a Beneish M-Score of 0.00 as of Jul. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nord General and its competitors. According to the industry distribution chart, Nord General ranks #999999 out of 350 companies in the Telecommunication Services industry.

Is Nord General's Beneish M-Score too high?

Nord General's current Beneish M-Score is 0.00. Based on the distribution chart, Nord General ranks #999999 out of 350 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, Nord General has a GF Score™ of 22/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Nord General's Beneish M-Score compare to TMUS and VZ?

According to the Telecommunication Services industry distribution chart, Nord General ranks #999999 out of 350 companies for Beneish M-Score. This places Nord General 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 Telecommunication Services company?

A good Beneish M-Score depends on the Telecommunication Services 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 Nord General and its competitors. Nord General'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 Nord General stock overvalued right now?

Based on GuruFocus' analysis, Nord General (BUD:NORDGENERAL) is currently considered Significantly Overvalued. The stock's GF Value™ is Ft1.70, compared to a current price of Ft7.00 — trading 311.8% above its estimated fair value. The current Beneish M-Score is 0.00. Nord General's overall GF Score™ is 22/100 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 Nord General (BUD:NORDGENERAL), the current Beneish M-Score is 0.00 as of Jul. 26, 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 Nord General (BUD:NORDGENERAL) Overvalued in 2026?

Based on GuruFocus' analysis, Nord General stock appears to be overvalued. The current stock price of Ft7.00 is trading 311.8% above its estimated GF Value™ of Ft1.70. GuruFocus considers Nord General to be Significantly Overvalued.

Key valuation signals for BUD:NORDGENERAL:

Beneish M-Score: 0.00
GF Value™: Ft1.70 vs. price of Ft7.00 (311.8% above fair value)
GF Score™: 22/100 with 3 warning signs

No single metric tells the full story. See the BUD:NORDGENERAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Nord General Business Description

Industry Communication Services Telecommunication Services

Comparable Companies TSE:9984 SHSE:600941 TMUS VZ T XTER:DTE NSE:BHARTIARTL CMCSA MEX:AMXB TSE:9432 HKSE:00728 TSE:9433 TSE:9434 SAU:7010 SGX:Z74 XPAR:ORA ADX:EAND XSWX:SCMN ASX:TLS TPE:2412

Address 1074 Budapest Dohany u. 20, 4th floor, Budapest, HUN, 1074

Website http://www.nordtelekom.hu

Nord General PLC formerly NORDTELEKOM Telecommunications Service Provider PLC operates in the telecom services industry in Hungary. The company is engaged in offering mobile and ADSL internet services, telephony services, and server placement services.

22GF Score

Get the complete analysis for BUD:NORDGENERAL

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

Ft7.00

Price

Ft1.70

GF Value

View BUD:NORDGENERAL Analysis

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