H100 Group AB (FRA:GS9) Beneish M-Score: 0.00 (As of Jul. 12, 2026)


FRA:GS9 H100 Group AB FRA:GS9
33 GF Score
Price €0.10
! 2 Warning Signs
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What is H100 Group AB Beneish M-Score?

H100 Group AB FRA:GS9 33 Beneish M-Score is 0.00 as of Jul. 12, 2026. GuruFocus rates FRA:GS9 with a GF Score™ of 33/100. The stock has 2 warning signs investors should review. Among 631 Healthcare Providers & Services companies, H100 Group AB ranks worse than 158478.45% 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.

The historical rank and industry rank for H100 Group AB's Beneish M-Score or its related term are showing as below:

During the past 8 years, the highest Beneish M-Score of H100 Group AB was 2.29. The lowest was -3.54. And the median was -1.30.

H100 Group AB Beneish M-Score Historical Data

* Premium members only.

The historical data trend for H100 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.

H100 Group AB Beneish M-Score Chart

H100 Group AB Annual Data
Trend Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25
Beneish M-Score
Get a 7-Day Free Trial -0.16 2.29 -2.44 0.00 0.00

H100 Group AB Semi-Annual Data
Apr18 Oct18 Apr19 Oct19 Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23 Apr24 Oct24 Apr25 Dec25
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 0.00 0.00 0.00 0.00 0.00

FRA:GS9 vs VEEV, BTSG, TEM: Beneish M-Score Comparison

For the Health Information Services subindustry, H100 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.

H100 Group AB Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, H100 Group AB's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where H100 Group AB's Beneish M-Score falls into.


FRA:GS9
33GF Score
H100 Group AB FRA:GS9
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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H100 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 H100 Group AB 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Apr25) TTM:Last Year (Apr24) TTM:
Total Receivables was €0.18 Mil.
Revenue was €-0.77 Mil.
Gross Profit was €-1.01 Mil.
Total Current Assets was €1.60 Mil.
Total Assets was €10.33 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.11 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €0.65 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-1.52 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-0.31 Mil.
 Total Receivables was €0.02 Mil.
Revenue was €-0.04 Mil.
Gross Profit was €-0.57 Mil.
Total Current Assets was €0.25 Mil.
Total Assets was €2.33 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.01 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €0.11 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 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)
=(0.184 / -0.771) / (0.017 / -0.036)
= /
=

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)
=(-0.569 / -0.036) / (-1.013 / -0.771)
= /
=

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 - (1.598 + 0.003) / 10.326) / (1 - (0.246 + 0) / 2.33)
=0.844954 / 0.894421
=

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
=-0.771 / -0.036
=

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))
=(0.013 / (0.013 + 0)) / (0.111 / (0.111 + 0.003))
=1 / 0.973684
=

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 / -0.771) / (0 / -0.036)
= /
=

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 + 0.648) / 10.326) / ((0 + 0.114) / 2.33)
=0.062754 / 0.048927
=

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
=(-1.523 - 0 - -0.312) / 10.326
=-0.117277

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
H100 Group AB (FRA:GS9) has a Beneish M-Score of 0.00 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on H100 Group AB and its competitors. According to the industry distribution chart, H100 Group AB ranks #999999 out of 631 companies in the Healthcare Providers & Services industry.
Is H100 Group AB's Beneish M-Score too high?
H100 Group AB's current Beneish M-Score is 0.00. Based on the distribution chart, H100 Group AB ranks #999999 out of 631 companies in the Healthcare Providers & Services industry, which is in the bottom quartile relative to peers. Overall, H100 Group AB has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does H100 Group AB's Beneish M-Score compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, H100 Group AB ranks #999999 out of 631 companies for Beneish M-Score. This places H100 Group AB 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & Services 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 H100 Group AB and its competitors. H100 Group AB'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 H100 Group AB stock overvalued right now?
H100 Group AB (FRA:GS9) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. H100 Group AB's overall GF Score™ is 33/100 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 H100 Group AB (FRA:GS9), the current Beneish M-Score is 0.00 as of Jul. 12, 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.

H100 Group AB Business Description

Other Exchanges H100:Sweden
Address Kungsgatan 8, Floor 2, KG10 Office Hotel, Stockholm, SWE, SE- 114 35
H100 Group AB is a Swedish health technology company and the Bitcoin Treasury Company in the Nordics. The Company's objective is to maximize Bitcoin exposure per share by expanding its Bitcoin treasury through financial instruments. The Company operates through two business areas: Bitcoin Treasury operations, which focus on increasing Bitcoin exposure per share through strategic and financial instruments, and a health-tech division that supports health and longevity providers with AI-powered automation and growth tools. The Company generates revenue from digital services related to training and nutrition coaching provided to B2C customers and SaaS revenue related to the Group's digital platform provided to B2B customers. It operates in Sweden and Norway.
33GF Score

Get the complete analysis for FRA:GS9

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

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