Soup Holdings (FRA:SR6) Beneish M-Score: -4.40 (As of Jun. 26, 2026)


What is Soup Holdings Beneish M-Score?

Soup Holdings FRA:SR6 +1.72% Beneish M-Score is -4.40 as of Jun. 26, 2026. The stock has 5 warning signs investors should review. Among 357 Restaurants companies, Soup Holdings ranks better than 94.96% 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.

Good Sign:

Beneish M-Score -4.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:SR6' s Beneish M-Score Range Over the Past 10 Years
Min: -4.63   Med: -3.66   Max: -1.68
Current: -4.4

During the past 13 years, the highest Beneish M-Score of Soup Holdings was -1.68. The lowest was -4.63. And the median was -3.66.

Soup Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Soup Holdings'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.

Soup Holdings Beneish M-Score Chart

Soup Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.60 -3.78 -3.85 -4.63 -4.40

Soup Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.85 0.00 -4.63 0.00 -4.40

FRA:SR6 vs MCD, SBUX, CMG: Beneish M-Score Comparison

For the Restaurants subindustry, Soup Holdings'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.

Soup Holdings Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Soup Holdings's Beneish M-Score distribution charts can be found below:

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


Soup Holdings 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 Soup Holdings 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 * 0.716+0.528 * 0.9694+0.404 * 0.8903+0.892 * 0.914+0.115 * 0.9773
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.333845-0.327 * 1.0227
=-4.45

* 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 €0.28 Mil.
Revenue was €24.83 Mil.
Gross Profit was €10.96 Mil.
Total Current Assets was €6.31 Mil.
Total Assets was €14.98 Mil.
Property, Plant and Equipment(Net PPE) was €8.40 Mil.
Depreciation, Depletion and Amortization(DDA) was €5.14 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €6.91 Mil.
Long-Term Debt & Capital Lease Obligation was €3.51 Mil.
Net Income was €-0.81 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €4.19 Mil.
 Total Receivables was €0.43 Mil.
Revenue was €27.17 Mil.
Gross Profit was €11.62 Mil.
Total Current Assets was €8.36 Mil.
Total Assets was €18.30 Mil.
Property, Plant and Equipment(Net PPE) was €9.58 Mil.
Depreciation, Depletion and Amortization(DDA) was €5.65 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €8.25 Mil.
Long-Term Debt & Capital Lease Obligation was €4.19 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)
=(0.284 / 24.828) / (0.434 / 27.165)
=0.011439 / 0.015976
=0.716

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)
=(11.62 / 27.165) / (10.956 / 24.828)
=0.427756 / 0.441276
=0.9694

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 - (6.307 + 8.399) / 14.977) / (1 - (8.356 + 9.576) / 18.304)
=0.018094 / 0.020323
=0.8903

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
=24.828 / 27.165
=0.914

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))
=(5.647 / (5.647 + 9.576)) / (5.138 / (5.138 + 8.399))
=0.370952 / 0.379552
=0.9773

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 / 24.828) / (0 / 27.165)
=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)
=((3.505 + 6.906) / 14.977) / ((4.187 + 8.254) / 18.304)
=0.695133 / 0.679688
=1.0227

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
=(-0.813 - 0 - 4.187) / 14.977
=-0.333845

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.

Soup Holdings has a M-score of -4.45 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 -4.40 mean?
Soup Holdings (FRA:SR6) has a Beneish M-Score of -4.40 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Soup Holdings and its competitors. According to the industry distribution chart, Soup Holdings ranks #18 out of 357 companies in the Restaurants industry, placing it in the top 5%.
Is Soup Holdings' Beneish M-Score too high?
Soup Holdings' current Beneish M-Score is -4.40. Based on the distribution chart, Soup Holdings ranks #18 out of 357 companies in the Restaurants industry, which is in the top quartile — a strong position relative to peers.
How does Soup Holdings' Beneish M-Score compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Soup Holdings ranks #18 out of 357 companies for Beneish M-Score. This places Soup Holdings in the top 5% of its industry — outperforming the majority of peers. 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 Restaurants company?
A good Beneish M-Score depends on the Restaurants 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 Soup Holdings and its competitors. Soup Holdings's current Beneish M-Score is -4.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Soup Holdings stock overvalued right now?
Soup Holdings (FRA:SR6) has a current Beneish M-Score of -4.40. The stock's GF Value™ is €0.04, compared to a current price of €0.03 — trading 26.3% below its estimated fair value. The current Beneish M-Score is -4.40. 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 Soup Holdings (FRA:SR6), the current Beneish M-Score is -4.40 as of Jun. 26, 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.

Soup Holdings Business Description

Other Exchanges 5KI:Singapore
Address 150 Kampong Ampat, No. 04-01 KA Centre, Singapore, SGP, 368324
Soup Holdings Ltd is a Singapore-based company engaged in the restaurant business, operating a chain of outlets under the names Soup Restaurant, Cafe O, and Pot Luck in Singapore and Malaysia. The company operates through two segments: the operation of the restaurant segment, which sells food and beverage products to customers through its outlets, and the food processing, distribution, and procurement services segment, which supplies food and beverage products to its restaurant operations and third parties. The company operates in Singapore and Malaysia, with the majority of its revenue generated from Singapore, mainly from the operation of the restaurant segment.