OMV Petrom (FRA:XNE) Beneish M-Score: -2.86 (As of Jul. 08, 2026)

What is OMV Petrom Beneish M-Score?

OMV Petrom FRA:XNE +5.32% 35 Beneish M-Score is -2.86 as of Jul. 08, 2026. GuruFocus rates FRA:XNE with a GF Score™ of 35/100 and a GF Value™ of €0.15 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 822 Oil & Gas companies, OMV Petrom ranks better than 64.72% 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 -2.86 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:XNE' s Beneish M-Score Range Over the Past 10 Years
Min: -3.43 Med: -2.67 Max: 0.5
Current: -2.86

During the past 13 years, the highest Beneish M-Score of OMV Petrom was 0.50. The lowest was -3.43. And the median was -2.67.

OMV Petrom Beneish M-Score Related Terms

OMV Petrom Beneish M-Score Historical Data

* Premium members only.

The historical data trend for OMV Petrom'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.

OMV Petrom Beneish M-Score Chart

OMV Petrom Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.46

-1.66

-3.25

-2.40

-2.80

OMV Petrom Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.32	-2.53	-2.52	-2.80	-2.86

FRA:XNE vs XOM, CVX: Beneish M-Score Comparison

For the Oil & Gas Integrated subindustry, OMV Petrom'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.

OMV Petrom Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, OMV Petrom's Beneish M-Score distribution charts can be found below:

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

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35GF Score

OMV Petrom SA FRA:XNE

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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OMV Petrom 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 OMV Petrom for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.1223

0.528 * 1.028

0.404 * 0.8329

0.892 * 1.0287

0.115 * 1.0618

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.013

4.679 * -0.096497

0.327 * 1.0437

-2.86

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was €609 Mil.
Revenue was 1812.653 + 1847.029 + 1857.124 + 1528.527 = €7,045 Mil.
Gross Profit was 435.323 + 365.046 + 396.063 + 311.537 = €1,508 Mil.
Total Current Assets was €3,418 Mil.
Total Assets was €11,720 Mil.
Property, Plant and Equipment(Net PPE) was €7,165 Mil.
Depreciation, Depletion and Amortization(DDA) was €832 Mil.
Selling, General, & Admin. Expense(SGA) was €625 Mil.
Total Current Liabilities was €2,004 Mil.
Long-Term Debt & Capital Lease Obligation was €182 Mil.
Net Income was 194.642 + -71.014 + 254.633 + 192.843 = €571 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was 502.401 + 404.092 + 414.689 + 380.904 = €1,702 Mil.

Total Receivables was €528 Mil.
Revenue was 1695.086 + 1719.024 + 1786.699 + 1647.842 = €6,849 Mil.
Gross Profit was 386.932 + 247.007 + 447.864 + 425.06 = €1,507 Mil.
Total Current Assets was €3,842 Mil.
Total Assets was €11,462 Mil.
Property, Plant and Equipment(Net PPE) was €6,285 Mil.
Depreciation, Depletion and Amortization(DDA) was €780 Mil.
Selling, General, & Admin. Expense(SGA) was €600 Mil.
Total Current Liabilities was €1,804 Mil.
Long-Term Debt & Capital Lease Obligation was €244 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)
	=	(609.3 / 7045.333)	/	(527.771 / 6848.651)
	=	0.086483	/	0.077062
	=	1.1223

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)
	=	(1506.863 / 6848.651)	/	(1507.969 / 7045.333)
	=	0.220023	/	0.214038
	=	1.028

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 - (3418.196 + 7164.701) / 11720.422)	/	(1 - (3841.537 + 6284.577) / 11461.696)
	=	0.097055	/	0.116526
	=	0.8329

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
	=	7045.333	/	6848.651
	=	1.0287

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))
	=	(780.272 / (780.272 + 6284.577))	/	(831.79 / (831.79 + 7164.701))
	=	0.110444	/	0.104019
	=	1.0618

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)
	=	(625.245 / 7045.333)	/	(600.012 / 6848.651)
	=	0.088746	/	0.08761
	=	1.013

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)
	=	((181.733 + 2004.43) / 11720.422)	/	((244.285 + 1804.171) / 11461.696)
	=	0.186526	/	0.178722
	=	1.0437

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
	=	(571.104 - 0	-	1702.086)	/	11720.422
	=	-0.096497

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.

OMV Petrom has a M-score of -2.86 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 -2.86 mean?

OMV Petrom (FRA:XNE) has a Beneish M-Score of -2.86 as of Jul. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on OMV Petrom and its competitors. According to the industry distribution chart, OMV Petrom ranks #290 out of 822 companies in the Oil & Gas industry, placing it in the top 35.3%.

Is OMV Petrom's Beneish M-Score too high?

OMV Petrom's current Beneish M-Score is -2.86. Based on the distribution chart, OMV Petrom ranks #290 out of 822 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, OMV Petrom has a GF Score™ of 35/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does OMV Petrom's Beneish M-Score compare to XOM and CVX?

According to the Oil & Gas industry distribution chart, OMV Petrom ranks #290 out of 822 companies for Beneish M-Score. This puts OMV Petrom in the upper 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 Oil & Gas company?

A good Beneish M-Score depends on the Oil & Gas 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 OMV Petrom and its competitors. OMV Petrom's current Beneish M-Score is -2.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is OMV Petrom stock overvalued right now?

Based on GuruFocus' analysis, OMV Petrom (FRA:XNE) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.15, compared to a current price of €0.21 — trading 38.7% above its estimated fair value. The current Beneish M-Score is -2.86. OMV Petrom's overall GF Score™ is 35/100 with 9 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 OMV Petrom (FRA:XNE), the current Beneish M-Score is -2.86 as of Jul. 08, 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.

Is OMV Petrom (FRA:XNE) Overvalued in 2026?

Based on GuruFocus' analysis, OMV Petrom stock appears to be overvalued. The current stock price of €0.21 is trading 38.7% above its estimated GF Value™ of €0.15. GuruFocus considers OMV Petrom to be Significantly Overvalued.

Key valuation signals for FRA:XNE:

Beneish M-Score: -2.86
GF Value™: €0.15 vs. price of €0.21 (38.7% above fair value)
GF Score™: 35/100 with 9 warning signs

No single metric tells the full story. See the FRA:XNE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

OMV Petrom Business Description

Industry Energy Oil & Gas

Comparable Companies BSE:SNG BSE:COTE BSE:OIL BSE:PTR BSE:JTG BSE:UZT BSE:COMI SAU:2222 XOM CVX SHSE:601857 LSE:SHEL XPAR:TTE BSP:PETR3 LSE:BP.OSL:EQNR HKSE:00386 ADX:ADNOCGAS MIL:ENI TSX:SU

Other Exchanges SNP:Romania 0MA6:UK

Address 22 Coralilor Street, District 1, Petrom City, Bucharest, ROU, 013329

Website https://www.omvpetrom.com

OMV Petrom SA is an integrated oil and gas company operating in Romania. The company has three segments. The exploration & Production segment consists of the exploration, development, & production of crude oil, & natural gas. The refining & Marketing segment produces & delivers gasoline, diesel & other petroleum products to its customers, while through filling station networks offering a variety of services & non-oil business (NOB) goods. The gas business unit, part of the Gas & Power segment, has the objective to focus on gas sales, & becoming a regional player. Business division Power, part of the Gas & Power segment, mainly extends the gas value chain into a gas-fired power plant. Key revenue is derived from Refining & marketing segment. Geographically, key revenue is from Romania.

35GF Score

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

€0.21

Price

€0.15

GF Value

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