Robus Group AS (FRA:LH2) Beneish M-Score: 1.37 (As of Jun. 25, 2026) — Near Median


FRA:LH2 Robus Group AS FRA:LH2
14 GF Score
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What is Robus Group AS Beneish M-Score?

Robus Group AS FRA:LH2 14 Beneish M-Score is 1.37 as of Jun. 25, 2026, which is at its 10-year median of 1.37. GuruFocus rates FRA:LH2 with a GF Score™ of 14/100. The stock has 5 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 1.37 higher than -1.78, which implies that the company might have manipulated its financial results.

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

FRA:LH2' s Beneish M-Score Range Over the Past 10 Years
Min: 1.37   Med: 1.37   Max: 1.37
Current: 1.37

During the past 3 years, the highest Beneish M-Score of Robus Group AS was 1.37. The lowest was 1.37. And the median was 1.37.

Robus Group AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Robus Group 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.

Robus Group AS Beneish M-Score Chart

Robus Group AS Annual Data
Trend Dec22 Dec23 Dec24
Beneish M-Score
0.00 0.00 1.37

Robus Group AS Semi-Annual Data
Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 1.37 0.00

FRA:LH2 vs AS, HAS, PLNT: Beneish M-Score Comparison

For the Leisure subindustry, Robus Group 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.

Robus Group AS Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Robus Group AS's Beneish M-Score distribution charts can be found below:

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


FRA:LH2
14GF Score
Robus Group AS FRA:LH2
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Robus Group 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 Robus Group 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 * 9.1596+0.528 * 0.6005+0.404 * 0.9372+0.892 * 0.2911+0.115 * 0.96
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1449+4.679 * -0.537037-0.327 * 1.7445
=1.37

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was €0.01 Mil.
Revenue was €0.05 Mil.
Gross Profit was €0.02 Mil.
Total Current Assets was €0.05 Mil.
Total Assets was €0.22 Mil.
Property, Plant and Equipment(Net PPE) was €0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.02 Mil.
Selling, General, & Admin. Expense(SGA) was €0.05 Mil.
Total Current Liabilities was €0.17 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-0.07 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €0.05 Mil.
 Total Receivables was €0.00 Mil.
Revenue was €0.16 Mil.
Gross Profit was €0.03 Mil.
Total Current Assets was €0.04 Mil.
Total Assets was €0.22 Mil.
Property, Plant and Equipment(Net PPE) was €0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.02 Mil.
Selling, General, & Admin. Expense(SGA) was €0.14 Mil.
Total Current Liabilities was €0.06 Mil.
Long-Term Debt & Capital Lease Obligation was €0.04 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)
=(0.008 / 0.046) / (0.003 / 0.158)
=0.173913 / 0.018987
=9.1596

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)
=(0.033 / 0.158) / (0.016 / 0.046)
=0.208861 / 0.347826
=0.6005

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 - (0.049 + 0.006) / 0.216) / (1 - (0.037 + 0.007) / 0.215)
=0.74537 / 0.795349
=0.9372

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
=0.046 / 0.158
=0.2911

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))
=(0.018 / (0.018 + 0.007)) / (0.018 / (0.018 + 0.006))
=0.72 / 0.75
=0.96

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)
=(0.045 / 0.046) / (0.135 / 0.158)
=0.978261 / 0.85443
=1.1449

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 + 0.17) / 0.216) / ((0.036 + 0.061) / 0.215)
=0.787037 / 0.451163
=1.7445

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
=(-0.071 - 0 - 0.045) / 0.216
=-0.537037

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.

Robus Group AS has a M-score of 1.37 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 1.37 mean?
Robus Group AS (FRA:LH2) has a Beneish M-Score of 1.37 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Robus Group AS and its competitors. This is near median its historical median of 1.37. Over the past decade, Robus Group AS's Beneish M-Score has ranged from 1.37 to 1.37.
Is Robus Group AS's Beneish M-Score too high?
Robus Group AS's current Beneish M-Score of 1.37 is near median its 10-year median of 1.37. Over the past 10 years, this metric has ranged from a low of 1.37 to a high of 1.37. Overall, Robus Group AS has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Robus Group AS's Beneish M-Score compare to AS and HAS?
Robus Group AS's Beneish M-Score of 1.37 can be compared against companies in the Travel & Leisure industry. Historically, Robus Group AS's own Beneish M-Score has ranged from 1.37 to 1.37 over the past decade. 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Robus Group AS and its competitors. Robus Group AS's current Beneish M-Score is 1.37, which is near median its own 10-year median of 1.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Robus Group AS stock overvalued right now?
Robus Group AS (FRA:LH2) has a current Beneish M-Score of 1.37. The current Beneish M-Score is 1.37, which is near median its 10-year median of 1.37. Robus Group AS's overall GF Score™ is 14/100 with 5 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 Robus Group AS (FRA:LH2), the current Beneish M-Score is 1.37 as of Jun. 25, 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.

Robus Group AS Business Description

Address Hariduse tn 13-9, Kesklinna linnaosa, Harju maakond, Tallinn, EST, 10119
Robus Group AS is a sports and health technology company. It offers a training ecosystem that consists of proprietary workout equipment (Gymbars and Gymbar Pro) and a follow-along workout video platform, allowing customers to do strength and conditioning workouts anywhere, anytime. Geographically, the company generates maximum revenue from Estonia, and the rest from Germany, Sweden, Finland, Denmark, the United States, Switzerland, and other countries.
14GF Score

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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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