Vossloh AG (CHIX:VOSD) Beneish M-Score: -2.30 (As of Jun. 24, 2026)


CHIX:VOSD Vossloh AG CHIX:VOSD
79 GF Score
Price €81.10
GF Value €67.70
! 3 Warning Signs
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What is Vossloh AG Beneish M-Score?

Vossloh AG CHIX:VOSD 79 Beneish M-Score is -2.30 as of Jun. 24, 2026. GuruFocus rates CHIX:VOSD with a GF Score™ of 79/100 and a GF Value™ of €67.70. The stock has 3 warning signs investors should review. Among 966 Transportation companies, Vossloh AG ranks worse than 69.46% 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 -2.3 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CHIX:VOSd' s Beneish M-Score Range Over the Past 10 Years
Min: -3.13   Med: -2.71   Max: -2.11
Current: -2.3

During the past 13 years, the highest Beneish M-Score of Vossloh AG was -2.11. The lowest was -3.13. And the median was -2.71.

Vossloh AG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Vossloh AG'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.

Vossloh AG Beneish M-Score Chart

Vossloh AG Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.62 -2.52 -2.98 -2.45 -2.54

Vossloh AG 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.60 -2.38 -2.45 -2.54 -2.30

CHIX:VOSD vs UNP, CSX, NSC: Beneish M-Score Comparison

For the Railroads subindustry, Vossloh AG'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.

Vossloh AG Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Vossloh AG's Beneish M-Score distribution charts can be found below:

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


CHIX:VOSD
79GF Score
Vossloh AG CHIX:VOSD
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Vossloh AG 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 Vossloh AG 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 * 1.0049+0.528 * 1.0249+0.404 * 1.2805+0.892 * 1.1803+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9732+4.679 * -0.040356-0.327 * 0.7819
=-2.30

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was €294 Mil.
Revenue was 314.6 + 434.7 + 325.9 + 331.5 = €1,407 Mil.
Gross Profit was 75.6 + 112.7 + 91.4 + 94.7 = €374 Mil.
Total Current Assets was €909 Mil.
Total Assets was €2,295 Mil.
Property, Plant and Equipment(Net PPE) was €502 Mil.
Depreciation, Depletion and Amortization(DDA) was €0 Mil.
Selling, General, & Admin. Expense(SGA) was €272 Mil.
Total Current Liabilities was €620 Mil.
Long-Term Debt & Capital Lease Obligation was €0 Mil.
Net Income was -7.6 + 23.2 + 13.6 + 25.7 = €55 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was -41.9 + 124.4 + 61.5 + 3.5 = €148 Mil.
 Total Receivables was €248 Mil.
Revenue was 251.1 + 350 + 298.7 + 292 = €1,192 Mil.
Gross Profit was 63.7 + 92.4 + 86.1 + 82.9 = €325 Mil.
Total Current Assets was €685 Mil.
Total Assets was €1,507 Mil.
Property, Plant and Equipment(Net PPE) was €369 Mil.
Depreciation, Depletion and Amortization(DDA) was €0 Mil.
Selling, General, & Admin. Expense(SGA) was €237 Mil.
Total Current Liabilities was €521 Mil.
Long-Term Debt & Capital Lease Obligation was €0 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)
=(293.8 / 1406.7) / (247.7 / 1191.8)
=0.208858 / 0.207837
=1.0049

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)
=(325.1 / 1191.8) / (374.4 / 1406.7)
=0.272781 / 0.266155
=1.0249

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 - (908.5 + 502.4) / 2294.6) / (1 - (685.4 + 368.5) / 1507.2)
=0.385122 / 0.300756
=1.2805

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
=1406.7 / 1191.8
=1.1803

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 / (0 + 368.5)) / (0 / (0 + 502.4))
=0 / 0
=1

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)
=(272 / 1406.7) / (236.8 / 1191.8)
=0.19336 / 0.198691
=0.9732

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 + 619.7) / 2294.6) / ((0 + 520.6) / 1507.2)
=0.270069 / 0.345409
=0.7819

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
=(54.9 - 0 - 147.5) / 2294.6
=-0.040356

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.

Vossloh AG has a M-score of -2.30 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 -2.30 mean?
Vossloh AG (CHIX:VOSD) has a Beneish M-Score of -2.30 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vossloh AG and its competitors. According to the industry distribution chart, Vossloh AG ranks #671 out of 966 companies in the Transportation industry, placing it in the top 69.5%.
Is Vossloh AG's Beneish M-Score too high?
Vossloh AG's current Beneish M-Score is -2.30. Based on the distribution chart, Vossloh AG ranks #671 out of 966 companies in the Transportation industry, which is below the industry midpoint. Overall, Vossloh AG has a GF Score™ of 79/100, reflecting its overall financial health beyond just this single metric.
How does Vossloh AG's Beneish M-Score compare to UNP and CSX?
According to the Transportation industry distribution chart, Vossloh AG ranks #671 out of 966 companies for Beneish M-Score. This places Vossloh AG 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Vossloh AG and its competitors. Vossloh AG's current Beneish M-Score is -2.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vossloh AG stock overvalued right now?
Vossloh AG (CHIX:VOSD) has a current Beneish M-Score of -2.30. The stock's GF Value™ is €67.70, compared to a current price of €81.10 — trading 19.8% above its estimated fair value. The current Beneish M-Score is -2.30. Vossloh AG's overall GF Score™ is 79/100 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 Vossloh AG (CHIX:VOSD), the current Beneish M-Score is -2.30 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 Vossloh AG (CHIX:VOSD) Overvalued in 2026?

Based on GuruFocus' analysis, Vossloh AG stock appears to be overvalued. The current stock price of €81.10 is trading 19.8% above its estimated GF Value™ of €67.70.

Key valuation signals for CHIX:VOSD:

  • Beneish M-Score: -2.30
  • GF Value™: €67.70 vs. price of €81.10 (19.8% above fair value)
  • GF Score™: 79/100 with 3 warning signs

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

Vossloh AG Business Description

Address Vosslohstrasse 4, Werdohl, NW, DEU, 58791
Vossloh AG is a rail infrastructure manufacturer domiciled in Germany. The company organizes itself into three segments: Customized Modules, Core Components, and Life Cycle Solutions (rail solutions). The Core Components segment provides rail fastening systems and manufactures concrete railway ties. The Customized Modules segment manufactures, installs, and maintains switch systems and monitoring equipment for rail networks, and the Life Cycle Solutions segment maintains, tracks, switches, and recycles old rails. The company also provides digital-based services for the entire lifecycle of rails and switches. It derives a majority of its revenue in Europe, and the rest from its operations in Asia, Africa including the Middle East, Australia, and the Americas.
79GF Score

Get the complete analysis for CHIX:VOSD

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

€81.10
Price
€67.70
GF Value