InstallatorGruppen AS (FRA:12B) Beneish M-Score: 0.00 (As of Jun. 29, 2026)


FRA:12B InstallatorGruppen AS FRA:12B
5 GF Score
Price €1.64
! 3 Warning Signs
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What is InstallatorGruppen AS Beneish M-Score?

InstallatorGruppen AS FRA:12B -2.49% 5 Beneish M-Score is 0.00 as of Jun. 29, 2026. GuruFocus rates FRA:12B with a GF Score™ of 5/100. The stock has 3 warning signs investors should review. Among 1,699 Construction companies, InstallatorGruppen AS ranks worse than 58858.09% 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 InstallatorGruppen AS's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of InstallatorGruppen AS was 0.00. The lowest was 0.00. And the median was 0.00.

InstallatorGruppen AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for InstallatorGruppen 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.

InstallatorGruppen AS Beneish M-Score Chart

InstallatorGruppen AS Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

InstallatorGruppen AS Quarterly Data
Dec23 Dec24 Mar25 Dec25 Mar26
Beneish M-Score 0.00 0.00 0.00 0.00 0.00

FRA:12B vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, InstallatorGruppen 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.

InstallatorGruppen AS Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, InstallatorGruppen AS's Beneish M-Score distribution charts can be found below:

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


FRA:12B
5GF Score
InstallatorGruppen AS FRA:12B
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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InstallatorGruppen 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 InstallatorGruppen AS 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 * 0.8149+0.528 * 1.0407+0.404 * 0.919+0.892 * 1.6829+0.115 * 0.9835
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.099845-0.327 * 1.1106
=-2.56

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was €152.4 Mil.
Revenue was €554.6 Mil.
Gross Profit was €274.6 Mil.
Total Current Assets was €179.3 Mil.
Total Assets was €439.5 Mil.
Property, Plant and Equipment(Net PPE) was €29.3 Mil.
Depreciation, Depletion and Amortization(DDA) was €32.6 Mil.
Selling, General, & Admin. Expense(SGA) was €0.0 Mil.
Total Current Liabilities was €152.6 Mil.
Long-Term Debt & Capital Lease Obligation was €72.4 Mil.
Net Income was €11.3 Mil.
Gross Profit was €0.0 Mil.
Cash Flow from Operations was €55.1 Mil.
 Total Receivables was €111.1 Mil.
Revenue was €329.6 Mil.
Gross Profit was €169.8 Mil.
Total Current Assets was €126.8 Mil.
Total Assets was €333.2 Mil.
Property, Plant and Equipment(Net PPE) was €16.0 Mil.
Depreciation, Depletion and Amortization(DDA) was €17.2 Mil.
Selling, General, & Admin. Expense(SGA) was €0.0 Mil.
Total Current Liabilities was €101.4 Mil.
Long-Term Debt & Capital Lease Obligation was €52.3 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)
=(152.405 / 554.627) / (111.135 / 329.568)
=0.274788 / 0.337214
=0.8149

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)
=(169.831 / 329.568) / (274.641 / 554.627)
=0.515314 / 0.495181
=1.0407

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 - (179.338 + 29.251) / 439.451) / (1 - (126.766 + 15.974) / 333.247)
=0.525342 / 0.571669
=0.919

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
=554.627 / 329.568
=1.6829

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))
=(17.207 / (17.207 + 15.974)) / (32.624 / (32.624 + 29.251))
=0.51858 / 0.527257
=0.9835

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 / 554.627) / (0 / 329.568)
=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)
=((72.407 + 152.604) / 439.451) / ((52.262 + 101.379) / 333.247)
=0.512028 / 0.461042
=1.1106

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
=(11.257 - 0 - 55.134) / 439.451
=-0.099845

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.

InstallatorGruppen AS has a M-score of -2.56 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 0.00 mean?
InstallatorGruppen AS (FRA:12B) has a Beneish M-Score of 0.00 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on InstallatorGruppen AS and its competitors. According to the industry distribution chart, InstallatorGruppen AS ranks #999999 out of 1699 companies in the Construction industry.
Is InstallatorGruppen AS's Beneish M-Score too high?
InstallatorGruppen AS's current Beneish M-Score is 0.00. Based on the distribution chart, InstallatorGruppen AS ranks #999999 out of 1699 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, InstallatorGruppen AS has a GF Score™ of 5/100, reflecting its overall financial health beyond just this single metric.
How does InstallatorGruppen AS's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, InstallatorGruppen AS ranks #999999 out of 1699 companies for Beneish M-Score. This places InstallatorGruppen AS 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 Construction company?
A good Beneish M-Score depends on the Construction 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 InstallatorGruppen AS and its competitors. InstallatorGruppen AS'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 InstallatorGruppen AS stock overvalued right now?
InstallatorGruppen AS (FRA:12B) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. InstallatorGruppen AS's overall GF Score™ is 5/100 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 InstallatorGruppen AS (FRA:12B), the current Beneish M-Score is 0.00 as of Jun. 29, 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.

InstallatorGruppen AS Business Description

Other Exchanges IG:Denmark
Address Stoden 6-8, Roskilde, DNK, 4000
InstallatorGruppen AS is a provider of a multi-disciplinary technical installation group operating across Denmark and Switzerland. It comprises independent companies with a local presence and in-depth technical expertise. The companies within the Group offer solutions in the fields of plumbing, heating, ventilation/air conditioning, refrigeration, and electrical systems, as well as in selected specialist areas such as sprinkler systems, energy optimisation, building automation, fibre-optic infrastructure, and solar panel installations. It focused is to be a preferred partner for its customers in implementing the energy transition.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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