Salix Group AB (FRA:H18) Beneish M-Score: 0.00 (As of Jun. 29, 2026)


FRA:H18 Salix Group AB FRA:H18
20 GF Score
Price €5.40
! 2 Warning Signs
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What is Salix Group AB Beneish M-Score?

Salix Group AB FRA:H18 -3.91% 20 Beneish M-Score is 0.00 as of Jun. 29, 2026. GuruFocus rates FRA:H18 with a GF Score™ of 20/100. The stock has 2 warning signs investors should review. Among 150 Industrial Distribution companies, Salix Group AB ranks worse than 666666% 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 Salix Group AB's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Salix Group AB was 0.00. The lowest was 0.00. And the median was 0.00.

Salix Group AB Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Salix 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.

Salix Group AB Beneish M-Score Chart

Salix Group AB Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Salix Group AB Quarterly Data
Dec23 Dec24 Mar25 Dec25 Mar26
Beneish M-Score 0.00 0.00 0.00 0.00 0.00

FRA:H18 vs GWW, FAST, FERG: Beneish M-Score Comparison

For the Industrial Distribution subindustry, Salix 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.

Salix Group AB Beneish M-Score vs Industrial Distribution Industry

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

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


FRA:H18
20GF Score
Salix Group AB FRA:H18
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Salix 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 Salix 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 * 0.5223+0.528 * 0.9441+0.404 * 1.0775+0.892 * 1.2123+0.115 * 0.8959
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0161+4.679 * -0.056572-0.327 * 0.8916
=-2.97

* 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 €54.77 Mil.
Revenue was €378.14 Mil.
Gross Profit was €123.69 Mil.
Total Current Assets was €151.16 Mil.
Total Assets was €331.36 Mil.
Property, Plant and Equipment(Net PPE) was €26.10 Mil.
Depreciation, Depletion and Amortization(DDA) was €14.06 Mil.
Selling, General, & Admin. Expense(SGA) was €0.64 Mil.
Total Current Liabilities was €180.57 Mil.
Long-Term Debt & Capital Lease Obligation was €17.18 Mil.
Net Income was €17.46 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €36.21 Mil.
 Total Receivables was €86.50 Mil.
Revenue was €311.93 Mil.
Gross Profit was €96.33 Mil.
Total Current Assets was €170.48 Mil.
Total Assets was €344.44 Mil.
Property, Plant and Equipment(Net PPE) was €25.30 Mil.
Depreciation, Depletion and Amortization(DDA) was €11.56 Mil.
Selling, General, & Admin. Expense(SGA) was €0.52 Mil.
Total Current Liabilities was €71.55 Mil.
Long-Term Debt & Capital Lease Obligation was €159.01 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)
=(54.768 / 378.136) / (86.502 / 311.929)
=0.144837 / 0.277313
=0.5223

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)
=(96.326 / 311.929) / (123.687 / 378.136)
=0.308807 / 0.327097
=0.9441

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 - (151.163 + 26.097) / 331.363) / (1 - (170.483 + 25.299) / 344.443)
=0.465058 / 0.431598
=1.0775

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
=378.136 / 311.929
=1.2123

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))
=(11.563 / (11.563 + 25.299)) / (14.06 / (14.06 + 26.097))
=0.313683 / 0.350126
=0.8959

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)
=(0.643 / 378.136) / (0.522 / 311.929)
=0.0017 / 0.001673
=1.0161

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)
=((17.184 + 180.568) / 331.363) / ((159.007 + 71.549) / 344.443)
=0.596784 / 0.669359
=0.8916

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
=(17.46 - 0 - 36.206) / 331.363
=-0.056572

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.

Salix Group AB has a M-score of -2.97 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?
Salix Group AB (FRA:H18) 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 Salix Group AB and its competitors. According to the industry distribution chart, Salix Group AB ranks #999999 out of 150 companies in the Industrial Distribution industry.
Is Salix Group AB's Beneish M-Score too high?
Salix Group AB's current Beneish M-Score is 0.00. Based on the distribution chart, Salix Group AB ranks #999999 out of 150 companies in the Industrial Distribution industry, which is in the bottom quartile relative to peers. Overall, Salix Group AB has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Salix Group AB's Beneish M-Score compare to GWW and FAST?
According to the Industrial Distribution industry distribution chart, Salix Group AB ranks #999999 out of 150 companies for Beneish M-Score. This places Salix 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 an Industrial Distribution company?
A good Beneish M-Score depends on the Industrial Distribution 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 Salix Group AB and its competitors. Salix 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 Salix Group AB stock overvalued right now?
Salix Group AB (FRA:H18) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Salix Group AB'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 Salix Group AB (FRA:H18), 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.

Salix Group AB Business Description

Other Exchanges SALIX:Sweden
Address Propellergatan 2, Malmo, SWE, 211 15
Salix Group AB is a Nordic trading and distribution platform that offers products in construction and industry, prominently fittings, consumables, input goods and packaging. The company also offers products for home and garden as well as agriculture and forestry. It offers products through its own brands as well as distributed third-party brands. The company's business areas consist of Home & Fittings, Building & Agri Supplies and Building & Packaging Solutions. The majority of revenue is derived from the Construction & Agri Supplies business area offers a wide range of construction-related products, fasteners and technical supplies to professional customers in construction, industry, agriculture and trade. Geographically, the maximum revenue is generated from Sweden.
20GF Score

Get the complete analysis for FRA:H18

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

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