Hoist Finance AB (CHIX:HOFIS) Beneish M-Score: -2.67 (As of Aug. 10, 2026)

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CHIX:HOFIS Hoist Finance AB CHIX:HOFIS
57 GF Score
Price kr201.70
GF Value kr95.13
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Hoist Finance AB Beneish M-Score?

Hoist Finance AB CHIX:HOFIS 57 Beneish M-Score is -2.67 as of Aug. 10, 2026. GuruFocus rates CHIX:HOFIS with a GF Score™ of 57/100 and a GF Value™ of kr95.13 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 488 Credit Services companies, Hoist Finance AB ranks better than 77.25% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.67 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CHIX:HOFIs' s Beneish M-Score Range Over the Past 10 Years
Min: -4.99   Med: -2.84   Max: -2.39
Current: -2.67

During the past 13 years, the highest Beneish M-Score of Hoist Finance AB was -2.39. The lowest was -4.99. And the median was -2.84.

CHIX:HOFIS
57GF Score
Hoist Finance AB CHIX:HOFIS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Hoist Finance AB 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 Hoist Finance AB 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+0.528 * 1+0.404 * 1.0002+0.892 * 1.1206+0.115 * 1.1626
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8682+4.679 * -0.074398-0.327 * 0.9629
=-2.67

* 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.

This Year (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was kr0 Mil.
Revenue was 1310 + 1033 + 1031 + 976 = kr4,350 Mil.
Gross Profit was 1310 + 1033 + 1031 + 976 = kr4,350 Mil.
Total Current Assets was kr0 Mil.
Total Assets was kr70,311 Mil.
Property, Plant and Equipment(Net PPE) was kr108 Mil.
Depreciation, Depletion and Amortization(DDA) was kr64 Mil.
Selling, General, & Admin. Expense(SGA) was kr251 Mil.
Total Current Liabilities was kr0 Mil.
Long-Term Debt & Capital Lease Obligation was kr10,217 Mil.
Net Income was 474 + 337 + 361 + 284 = kr1,456 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0 Mil.
Cash Flow from Operations was 1864 + 1609 + 1452 + 1762 = kr6,687 Mil.
 Total Receivables was kr0 Mil.
Revenue was 941 + 961 + 1017 + 963 = kr3,882 Mil.
Gross Profit was 941 + 961 + 1017 + 963 = kr3,882 Mil.
Total Current Assets was kr0 Mil.
Total Assets was kr59,426 Mil.
Property, Plant and Equipment(Net PPE) was kr101 Mil.
Depreciation, Depletion and Amortization(DDA) was kr77 Mil.
Selling, General, & Admin. Expense(SGA) was kr258 Mil.
Total Current Liabilities was kr0 Mil.
Long-Term Debt & Capital Lease Obligation was kr8,968 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)
=(0 / 4350) / (0 / 3882)
=0 / 0
=1

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)
=(3882 / 3882) / (4350 / 4350)
=1 / 1
=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 - (0 + 108) / 70311) / (1 - (0 + 101) / 59426)
=0.998464 / 0.9983
=1.0002

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
=4350 / 3882
=1.1206

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))
=(77 / (77 + 101)) / (64 / (64 + 108))
=0.432584 / 0.372093
=1.1626

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)
=(251 / 4350) / (258 / 3882)
=0.057701 / 0.066461
=0.8682

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)
=((10217 + 0) / 70311) / ((8968 + 0) / 59426)
=0.145312 / 0.15091
=0.9629

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
=(1456 - 0 - 6687) / 70311
=-0.074398

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.

Hoist Finance AB has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.67 mean?
Hoist Finance AB (CHIX:HOFIS) has a Beneish M-Score of -2.67 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hoist Finance AB and its competitors. According to the industry distribution chart, Hoist Finance AB ranks #111 out of 488 companies in the Credit Services industry, placing it in the top 22.7%.
Is Hoist Finance AB's Beneish M-Score too high?
Hoist Finance AB's current Beneish M-Score is -2.67. Based on the distribution chart, Hoist Finance AB ranks #111 out of 488 companies in the Credit Services industry, which is in the top quartile — a strong position relative to peers. Overall, Hoist Finance AB has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hoist Finance AB's Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, Hoist Finance AB ranks #111 out of 488 companies for Beneish M-Score. This places Hoist Finance AB in the top 23% of its industry — outperforming the majority of peers. 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 Credit Services company?
A good Beneish M-Score depends on the Credit 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 Hoist Finance AB and its competitors. Hoist Finance AB's current Beneish M-Score is -2.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hoist Finance AB stock overvalued right now?
Based on GuruFocus' analysis, Hoist Finance AB (CHIX:HOFIS) is currently considered Significantly Overvalued. The stock's GF Value™ is kr95.13, compared to a current price of kr201.70 — trading 112% above its estimated fair value. The current Beneish M-Score is -2.67. Hoist Finance AB's overall GF Score™ is 57/100 with 7 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 Hoist Finance AB (CHIX:HOFIS), the current Beneish M-Score is -2.67 as of Aug. 10, 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 Hoist Finance AB (CHIX:HOFIS) Overvalued in 2026?

Based on GuruFocus' analysis, Hoist Finance AB stock appears to be overvalued. The current stock price of kr201.70 is trading 112% above its estimated GF Value™ of kr95.13. GuruFocus considers Hoist Finance AB to be Significantly Overvalued.

Key valuation signals for CHIX:HOFIS:

  • Beneish M-Score: -2.67
  • GF Value™: kr95.13 vs. price of kr201.70 (112% above fair value)
  • GF Score™: 57/100 with 7 warning signs

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

Hoist Finance AB Business Description

Address P.O. Box 7848, Stockholm, SWE, 103 99
Hoist Finance AB is a European asset manager of non-performing loans, with loan acquisition and management operations in several markets across Europe. The Group's core business has been the acquisition of secured and unsecured non-performing loans (NPLs) originated by banks and other financial institutions. After purchasing an NPL portfolio, Hoist Finance focuses on collection from its borrowers through sustainable payment plan agreements. The majority of the recovery activities for its acquired portfolios are managed through its service centres across Europe, supplemented by carefully selected external debt recovery partners. The Group's operating segments are: Unsecured, which generates maximum revenue, Secured, and Group Items. Geographically, it generates maximum revenue from Poland.
57GF Score

Get the complete analysis for CHIX:HOFIS

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

kr201.70
Price
kr95.13
GF Value