Keytop Parking (FRA:E4F) Beneish M-Score: -2.40 (As of Aug. 27, 2026)

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FRA:E4F Keytop Parking Inc FRA:E4F
20 GF Score
Price €11.85
! 2 Warning Signs
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What is Keytop Parking Beneish M-Score?

Keytop Parking FRA:E4F -6.77% 20 Beneish M-Score is -2.40 as of Aug. 27, 2026. GuruFocus rates FRA:E4F with a GF Score™ of 20/100. The stock has 2 warning signs investors should review. Among 2,640 Software companies, Keytop Parking ranks worse than 58.45% 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:E4F' s Beneish M-Score Range Over the Past 10 Years
Min: -2.4   Med: -2.4   Max: -2.4
Current: -2.4

During the past 3 years, the highest Beneish M-Score of Keytop Parking was -2.40. The lowest was -2.40. And the median was -2.40.

Keytop Parking Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Keytop Parking'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.

Keytop Parking Beneish M-Score Chart

Keytop Parking Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.40

Keytop Parking Semi-Annual Data
Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 -2.40

FRA:E4F vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Keytop Parking'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.

Keytop Parking Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Keytop Parking's Beneish M-Score distribution charts can be found below:

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


FRA:E4F
20GF Score
Keytop Parking Inc FRA:E4F
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Keytop Parking 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 Keytop Parking 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 * 0.9135+0.528 * 0.9896+0.404 * 1.4693+0.892 * 0.9604+0.115 * 1.0846
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8479+4.679 * -0.032868-0.327 * 0.9309
=-2.51

* 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 €43.4 Mil.
Revenue was €100.7 Mil.
Gross Profit was €46.7 Mil.
Total Current Assets was €106.8 Mil.
Total Assets was €172.9 Mil.
Property, Plant and Equipment(Net PPE) was €40.6 Mil.
Depreciation, Depletion and Amortization(DDA) was €10.5 Mil.
Selling, General, & Admin. Expense(SGA) was €5.4 Mil.
Total Current Liabilities was €37.6 Mil.
Long-Term Debt & Capital Lease Obligation was €12.4 Mil.
Net Income was €11.8 Mil.
Gross Profit was €0.0 Mil.
Cash Flow from Operations was €17.5 Mil.
 Total Receivables was €49.4 Mil.
Revenue was €104.9 Mil.
Gross Profit was €48.1 Mil.
Total Current Assets was €120.6 Mil.
Total Assets was €175.6 Mil.
Property, Plant and Equipment(Net PPE) was €37.4 Mil.
Depreciation, Depletion and Amortization(DDA) was €10.7 Mil.
Selling, General, & Admin. Expense(SGA) was €6.7 Mil.
Total Current Liabilities was €50.2 Mil.
Long-Term Debt & Capital Lease Obligation was €4.5 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)
=(43.353 / 100.713) / (49.419 / 104.871)
=0.430461 / 0.471236
=0.9135

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)
=(48.13 / 104.871) / (46.707 / 100.713)
=0.458945 / 0.463763
=0.9896

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 - (106.841 + 40.551) / 172.904) / (1 - (120.576 + 37.392) / 175.602)
=0.14755 / 0.10042
=1.4693

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
=100.713 / 104.871
=0.9604

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))
=(10.712 / (10.712 + 37.392)) / (10.477 / (10.477 + 40.551))
=0.222684 / 0.205319
=1.0846

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)
=(5.423 / 100.713) / (6.66 / 104.871)
=0.053846 / 0.063507
=0.8479

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)
=((12.424 + 37.637) / 172.904) / ((4.459 + 50.159) / 175.602)
=0.289531 / 0.311033
=0.9309

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
=(11.782 - 0 - 17.465) / 172.904
=-0.032868

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.

Keytop Parking has a M-score of -2.51 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 -2.40 mean?
Keytop Parking (FRA:E4F) has a Beneish M-Score of -2.40 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Keytop Parking and its competitors. According to the industry distribution chart, Keytop Parking ranks #1543 out of 2640 companies in the Software industry, placing it in the top 58.4%.
Is Keytop Parking's Beneish M-Score too high?
Keytop Parking's current Beneish M-Score is -2.40. Based on the distribution chart, Keytop Parking ranks #1543 out of 2640 companies in the Software industry, which is below the industry midpoint. Overall, Keytop Parking has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Keytop Parking's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Keytop Parking ranks #1543 out of 2640 companies for Beneish M-Score. This places Keytop Parking 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 Software company?
A good Beneish M-Score depends on the Software 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 Keytop Parking and its competitors. Keytop Parking's current Beneish M-Score is -2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keytop Parking stock overvalued right now?
Keytop Parking (FRA:E4F) has a current Beneish M-Score of -2.40. The current Beneish M-Score is -2.40. Keytop Parking's overall GF Score™ is 20/100 with 2 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 Keytop Parking (FRA:E4F), the current Beneish M-Score is -2.40 as of Aug. 27, 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.

Keytop Parking Business Description

Other Exchanges 02272:Hong Kong
Address 3-4th Floor, No. 155 Taidong Road, Siming District, Fujian Province, Xiamen, CHN
Keytop Parking Inc operates in the smart parking sector, providing smart parking systems, parking management services, and parking facility and platform operations. It also operates an online parking space rental platform that enables parking facility owners and individual space owners to list available parking spaces and allows users to search and rent parking spaces. The company's business portfolio includes various products and services covering smart parking systems, smart parking management services, and parking facility and platform operations. Its services are applied across various locations, including commercial complexes, office buildings, residential communities, public facilities, hotels, schools, hospitals, and logistics parks.
20GF Score

Get the complete analysis for FRA:E4F

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

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