Catenai (FRA:NZS) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


What is Catenai Beneish M-Score?

Catenai FRA:NZS Beneish M-Score is 0.00 as of Jun. 27, 2026. The stock has 5 warning signs investors should review. Among 2,634 Software companies, Catenai ranks worse than 37965.03% 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 Catenai's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Catenai was 13.89. The lowest was -19.16. And the median was -2.64.

Catenai Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Catenai'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.

Catenai Beneish M-Score Chart

Catenai Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Catenai Semi-Annual Data
Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Jun23 Dec23 Jun24 Dec24 Jun25
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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

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

For the Software - Infrastructure subindustry, Catenai'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.

Catenai Beneish M-Score vs Software Industry

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

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


Catenai 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 Catenai 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was €0.70 Mil.
Revenue was €0.16 Mil.
Gross Profit was €0.16 Mil.
Total Current Assets was €0.70 Mil.
Total Assets was €0.70 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.00 Mil.
Selling, General, & Admin. Expense(SGA) was €0.22 Mil.
Total Current Liabilities was €0.21 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-0.16 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-0.81 Mil.
 Total Receivables was €0.02 Mil.
Revenue was €0.03 Mil.
Gross Profit was €0.03 Mil.
Total Current Assets was €0.02 Mil.
Total Assets was €0.02 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.00 Mil.
Selling, General, & Admin. Expense(SGA) was €0.21 Mil.
Total Current Liabilities was €0.53 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)
=(0.698 / 0.159) / (0.02 / 0.034)
=4.389937 / 0.588235
=

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)
=(0.034 / 0.034) / (0.159 / 0.159)
=1 / 1
=

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 - (0.699 + 0) / 0.699) / (1 - (0.021 + 0) / 0.021)
=0 / 0
=

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
=0.159 / 0.034
=

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 / (0 + 0)) / (0 / (0 + 0))
= /
=

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)
=(0.221 / 0.159) / (0.21 / 0.034)
=1.389937 / 6.176471
=

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 + 0.21) / 0.699) / ((0 + 0.525) / 0.021)
=0.300429 / 25
=

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
=(-0.155 - 0 - -0.814) / 0.699
=0.942775

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?
Catenai (FRA:NZS) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Catenai and its competitors. According to the industry distribution chart, Catenai ranks #999999 out of 2634 companies in the Software industry.
Is Catenai's Beneish M-Score too high?
Catenai's current Beneish M-Score is 0.00. Based on the distribution chart, Catenai ranks #999999 out of 2634 companies in the Software industry, which is in the bottom quartile relative to peers.
How does Catenai's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Catenai ranks #999999 out of 2634 companies for Beneish M-Score. This places Catenai 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 Catenai and its competitors. Catenai'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 Catenai stock overvalued right now?
Catenai (FRA:NZS) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Catenai (FRA:NZS), the current Beneish M-Score is 0.00 as of Jun. 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.

Catenai Business Description

Other Exchanges CTAI:UK
Address 26/27 Lansdowne Terrace, Gosforth, Newcastle Upon Tyne, GBR, NE3 1HP
Catenai PLC is engaged in the provision of digital media and technology services. The Company specialises in IT solutions that solve commercial challenges and create opportunities for its clients, with an increasing focus incorporating AI into its platforms.