RTX AS (CHIX:RTXC) Beneish M-Score: -3.17 (As of Jun. 26, 2026)

What is RTX AS Beneish M-Score?

RTX AS CHIX:RTXC 89 Beneish M-Score is -3.17 as of Jun. 26, 2026. GuruFocus rates CHIX:RTXC with a GF Score™ of 89/100 and a GF Value™ of kr136.70. The stock has 3 warning signs investors should review. Among 2,404 Hardware companies, RTX AS ranks better than 86.69% 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 -3.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CHIX:RTXc' s Beneish M-Score Range Over the Past 10 Years
Min: -3.38 Med: -2.66 Max: -1.68
Current: -3.17

During the past 13 years, the highest Beneish M-Score of RTX AS was -1.68. The lowest was -3.38. And the median was -2.66.

RTX AS Beneish M-Score Related Terms

RTX AS Beneish M-Score Historical Data

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The historical data trend for RTX AS'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.

RTX AS Beneish M-Score Chart

RTX AS Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

Beneish M-Score

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-2.91

-1.88

-3.00

-2.90

-3.17

RTX AS Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	-3.17	0.00	0.00

CHIX:RTXC vs CSCO, CIEN, MSI: Beneish M-Score Comparison

For the Communication Equipment subindustry, RTX AS'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.

RTX AS Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, RTX AS's Beneish M-Score distribution charts can be found below:

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

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89GF Score

RTX AS CHIX:RTXC

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

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RTX AS 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 RTX AS 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 * 0.845

0.528 * 0.9325

0.404 * 1.1523

0.892 * 1.0979

0.115 * 1.1608

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.147478

0.327 * 0.9709

-3.17

This Year (Sep25) TTM:

Last Year (Sep24) TTM:

Total Receivables was kr121.8 Mil.
Revenue was kr547.1 Mil.
Gross Profit was kr297.7 Mil.
Total Current Assets was kr317.3 Mil.
Total Assets was kr490.5 Mil.
Property, Plant and Equipment(Net PPE) was kr67.0 Mil.
Depreciation, Depletion and Amortization(DDA) was kr26.8 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.0 Mil.
Total Current Liabilities was kr94.9 Mil.
Long-Term Debt & Capital Lease Obligation was kr45.1 Mil.
Net Income was kr10.5 Mil.
Gross Profit was kr0.0 Mil.
Cash Flow from Operations was kr82.8 Mil.

Total Receivables was kr131.3 Mil.
Revenue was kr498.3 Mil.
Gross Profit was kr252.8 Mil.
Total Current Assets was kr323.9 Mil.
Total Assets was kr491.3 Mil.
Property, Plant and Equipment(Net PPE) was kr75.1 Mil.
Depreciation, Depletion and Amortization(DDA) was kr37.2 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.0 Mil.
Total Current Liabilities was kr96.3 Mil.
Long-Term Debt & Capital Lease Obligation was kr48.2 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)
	=	(121.827 / 547.107)	/	(131.325 / 498.34)
	=	0.222675	/	0.263525
	=	0.845

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)
	=	(252.847 / 498.34)	/	(297.671 / 547.107)
	=	0.507378	/	0.544082
	=	0.9325

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 - (317.295 + 67.002) / 490.515)	/	(1 - (323.877 + 75.068) / 491.268)
	=	0.216544	/	0.187928
	=	1.1523

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
	=	547.107	/	498.34
	=	1.0979

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))
	=	(37.219 / (37.219 + 75.068))	/	(26.78 / (26.78 + 67.002))
	=	0.331463	/	0.285556
	=	1.1608

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)
	=	(0 / 547.107)	/	(0 / 498.34)
	=	0	/	0
	=	1

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)
	=	((45.141 + 94.896) / 490.515)	/	((48.167 + 96.284) / 491.268)
	=	0.28549	/	0.294037
	=	0.9709

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
	=	(10.455 - 0	-	82.795)	/	490.515
	=	-0.147478

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.

RTX AS has a M-score of -3.17 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 -3.17 mean?

RTX AS (CHIX:RTXC) has a Beneish M-Score of -3.17 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on RTX AS and its competitors. According to the industry distribution chart, RTX AS ranks #320 out of 2404 companies in the Hardware industry, placing it in the top 13.3%.

Is RTX AS's Beneish M-Score too high?

RTX AS's current Beneish M-Score is -3.17. Based on the distribution chart, RTX AS ranks #320 out of 2404 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, RTX AS has a GF Score™ of 89/100, reflecting its overall financial health beyond just this single metric.

How does RTX AS's Beneish M-Score compare to CSCO and CIEN?

According to the Hardware industry distribution chart, RTX AS ranks #320 out of 2404 companies for Beneish M-Score. This places RTX AS in the top 13% 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 Hardware company?

A good Beneish M-Score depends on the Hardware 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 RTX AS and its competitors. RTX AS's current Beneish M-Score is -3.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is RTX AS stock overvalued right now?

RTX AS (CHIX:RTXC) has a current Beneish M-Score of -3.17. The stock's GF Value™ is kr136.70, compared to a current price of kr158.80 — trading 16.2% above its estimated fair value. The current Beneish M-Score is -3.17. RTX AS's overall GF Score™ is 89/100 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 RTX AS (CHIX:RTXC), the current Beneish M-Score is -3.17 as of Jun. 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 RTX AS (CHIX:RTXC) Overvalued in 2026?

Based on GuruFocus' analysis, RTX AS stock appears to be overvalued. The current stock price of kr158.80 is trading 16.2% above its estimated GF Value™ of kr136.70.

Key valuation signals for CHIX:RTXC:

Beneish M-Score: -3.17
GF Value™: kr136.70 vs. price of kr158.80 (16.2% above fair value)
GF Score™: 89/100 with 3 warning signs

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

RTX AS Business Description

Industry Technology Hardware

Comparable Companies OCSE:ASTK OCSE:BO OCSE:DANT OCSE:QINTER OCSE:SOLAR B CSCO SHSE:601138 SZSE:300308 SZSE:300502 CIEN OHEL:NOKIA MSI LITE HPE SZSE:300394 TPE:2345 OSTO:ERIC B HKSE:06869 UI ASTS

Other Exchanges RTX:Denmark RTE:Germany

Address Stroemmen 6, Noerresundby, DNK, 9400

Website http://www.rtx.dk

RTX AS is engaged in the design, development, and production of wireless communication solutions rooted in a combination of software and hardware. It delivers turnkey solutions to globally recognized B2B customers. Its operating segment includes Enterprise, ProAudio, and Healthcare. In Enterprise, the company designs, develops, and supplies wireless IP telephony products and sub-systems. In ProAudio, it designs, develops, and manufactures wireless audio solutions. In Healthcare, the company builds wireless technology into modern healthcare services, providing patient monitoring solutions and wireless communication infrastructure for high-tech medical devices. The company has a presence in Denmark, the USA, Hong Kong, France, Germany, and other countries.

89GF Score

Get the complete analysis for CHIX:RTXC

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

kr158.80

Price

kr136.70

GF Value

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