Synexo Group AB (FRA:F19) Beneish M-Score: 32.57 (As of Jun. 30, 2026)

What is Synexo Group AB Beneish M-Score?

Synexo Group AB FRA:F19 -3.57% Beneish M-Score is 32.57 as of Jun. 30, 2026. The stock has 6 warning signs investors should review.

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.

Warning Sign:

Beneish M-Score 32.57 higher than -1.78, which implies that the company might have manipulated its financial results.

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

FRA:F19' s Beneish M-Score Range Over the Past 10 Years
Min: -144.14 Med: -2.63 Max: 222.71
Current: 32.57

During the past 13 years, the highest Beneish M-Score of Synexo Group AB was 222.71. The lowest was -144.14. And the median was -2.63.

Synexo Group AB Beneish M-Score Related Terms

Synexo Group AB Beneish M-Score Historical Data

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The historical data trend for Synexo Group AB'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.

Synexo Group AB Beneish M-Score Chart

Synexo Group AB Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.35

-3.12

-3.41

222.71

32.57

Synexo Group AB Quarterly Data
	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															222.71	0.00	0.00	32.57	0.00

FRA:F19 vs : Beneish M-Score Comparison

For the Electrical Equipment & Parts subindustry, Synexo Group AB'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.

Synexo Group AB Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Synexo Group AB's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Synexo Group AB's Beneish M-Score falls into.

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Synexo Group 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 Synexo Group AB 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 * 0.0064

0.528 * 2.0857

0.404 * 59.8246

0.892 * 14.6

0.115 * 0.2362

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.113854

0.327 * 0.1256

32.74

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was €0.05 Mil.
Revenue was €0.15 Mil.
Gross Profit was €0.07 Mil.
Total Current Assets was €0.31 Mil.
Total Assets was €2.51 Mil.
Property, Plant and Equipment(Net PPE) was €0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.16 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €0.21 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-0.41 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-0.12 Mil.

Total Receivables was €0.55 Mil.
Revenue was €0.01 Mil.
Gross Profit was €0.01 Mil.
Total Current Assets was €0.94 Mil.
Total Assets was €1.10 Mil.
Property, Plant and Equipment(Net PPE) was €0.15 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.04 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €0.74 Mil.
Long-Term Debt & Capital Lease Obligation was €0.01 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)
	=	(0.051 / 0.146)	/	(0.547 / 0.01)
	=	0.349315	/	54.7
	=	0.0064

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)
	=	(0.01 / 0.01)	/	(0.07 / 0.146)
	=	1	/	0.479452
	=	2.0857

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 - (0.312 + 0.022) / 2.512)	/	(1 - (0.943 + 0.145) / 1.104)
	=	0.867038	/	0.014493
	=	59.8246

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
	=	0.146	/	0.01
	=	14.6

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))
	=	(0.038 / (0.038 + 0.145))	/	(0.16 / (0.16 + 0.022))
	=	0.20765	/	0.879121
	=	0.2362

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 / 0.146)	/	(0 / 0.01)
	=	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)
	=	((0 + 0.212) / 2.512)	/	((0.006 + 0.736) / 1.104)
	=	0.084395	/	0.672101
	=	0.1256

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
	=	(-0.41 - 0	-	-0.124)	/	2.512
	=	-0.113854

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.

Synexo Group AB has a M-score of 32.74 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of 32.57 mean?

Synexo Group AB (FRA:F19) has a Beneish M-Score of 32.57 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Synexo Group AB and its competitors.

Is Synexo Group AB's Beneish M-Score too high?

Synexo Group AB's current Beneish M-Score is 32.57.

How does Synexo Group AB's Beneish M-Score compare to ?

Synexo Group AB's Beneish M-Score of 32.57 can be compared against companies in the Industrial Products 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 an Industrial Products company?

A good Beneish M-Score depends on the Industrial Products 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 Synexo Group AB and its competitors. Synexo Group AB's current Beneish M-Score is 32.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Synexo Group AB stock overvalued right now?

Synexo Group AB (FRA:F19) has a current Beneish M-Score of 32.57. The stock's GF Value™ is €0.03, compared to a current price of €0.01 — trading 82% below its estimated fair value. The current Beneish M-Score is 32.57. 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 Synexo Group AB (FRA:F19), the current Beneish M-Score is 32.57 as of Jun. 30, 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.

Synexo Group AB Business Description

Industry Industrials Industrial Products

Comparable Companies

Address Arkivgatan 4, Goteborg, SWE, 411 34

Website https://www.synexo.group

Synexo Group AB Formerly AB Sperrung (publ) is a technology company. The company is focused on the data backup, recovery, and sovereign data protection market by utilizing a "buy-and-build" program, the firm acquires profitable IT and SaaS companies to provide secure, scalable data storage for small and medium-sized businesses.