Sentia ASA (FRA:Z9P) Beneish M-Score: -3.29 (As of Jun. 26, 2026)


FRA:Z9P Sentia ASA FRA:Z9P
19 GF Score
Price €6.93
! 2 Warning Signs
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What is Sentia ASA Beneish M-Score?

Sentia ASA FRA:Z9P +0.14% 19 Beneish M-Score is -3.29 as of Jun. 26, 2026. GuruFocus rates FRA:Z9P with a GF Score™ of 19/100. The stock has 2 warning signs investors should review. Among 1,704 Construction companies, Sentia ASA ranks better than 89.73% 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 -3.29 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:Z9P' s Beneish M-Score Range Over the Past 10 Years
Min: -3.4   Med: -3.35   Max: -3.29
Current: -3.29

During the past 4 years, the highest Beneish M-Score of Sentia ASA was -3.29. The lowest was -3.40. And the median was -3.35.

Sentia ASA Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sentia ASA'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.

Sentia ASA Beneish M-Score Chart

Sentia ASA Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -3.40 -3.29

Sentia ASA Quarterly Data
Dec22 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 -3.29 0.00

FRA:Z9P vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Sentia ASA'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.

Sentia ASA Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Sentia ASA's Beneish M-Score distribution charts can be found below:

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


FRA:Z9P
19GF Score
Sentia ASA FRA:Z9P
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Sentia ASA 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 Sentia ASA 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 * 0.5495+0.528 * 1.007+0.404 * 0.9897+0.892 * 1.1098+0.115 * 0.8542
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.7895+4.679 * -0.065189-0.327 * 1.1225
=-3.29

* 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 €76 Mil.
Revenue was €995 Mil.
Gross Profit was €216 Mil.
Total Current Assets was €467 Mil.
Total Assets was €587 Mil.
Property, Plant and Equipment(Net PPE) was €18 Mil.
Depreciation, Depletion and Amortization(DDA) was €9 Mil.
Selling, General, & Admin. Expense(SGA) was €1 Mil.
Total Current Liabilities was €434 Mil.
Long-Term Debt & Capital Lease Obligation was €10 Mil.
Net Income was €47 Mil.
Gross Profit was €0 Mil.
Cash Flow from Operations was €86 Mil.
 Total Receivables was €124 Mil.
Revenue was €896 Mil.
Gross Profit was €196 Mil.
Total Current Assets was €454 Mil.
Total Assets was €576 Mil.
Property, Plant and Equipment(Net PPE) was €20 Mil.
Depreciation, Depletion and Amortization(DDA) was €8 Mil.
Selling, General, & Admin. Expense(SGA) was €0 Mil.
Total Current Liabilities was €376 Mil.
Long-Term Debt & Capital Lease Obligation was €13 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)
=(75.625 / 994.696) / (124.009 / 896.323)
=0.076028 / 0.138353
=0.5495

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)
=(196.355 / 896.323) / (216.396 / 994.696)
=0.219067 / 0.21755
=1.007

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 - (466.591 + 17.829) / 587.168) / (1 - (454.077 + 20.257) / 576.214)
=0.174989 / 0.176809
=0.9897

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
=994.696 / 896.323
=1.1098

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))
=(8.171 / (8.171 + 20.257)) / (9.041 / (9.041 + 17.829))
=0.287428 / 0.336472
=0.8542

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)
=(0.845 / 994.696) / (0.426 / 896.323)
=0.00085 / 0.000475
=1.7895

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)
=((10.224 + 433.637) / 587.168) / ((12.512 + 375.518) / 576.214)
=0.755935 / 0.673413
=1.1225

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
=(47.487 - 0 - 85.764) / 587.168
=-0.065189

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.

Sentia ASA has a M-score of -3.29 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 -3.29 mean?
Sentia ASA (FRA:Z9P) has a Beneish M-Score of -3.29 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sentia ASA and its competitors. According to the industry distribution chart, Sentia ASA ranks #175 out of 1704 companies in the Construction industry, placing it in the top 10.3%.
Is Sentia ASA's Beneish M-Score too high?
Sentia ASA's current Beneish M-Score is -3.29. Based on the distribution chart, Sentia ASA ranks #175 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Sentia ASA has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Sentia ASA's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Sentia ASA ranks #175 out of 1704 companies for Beneish M-Score. This places Sentia ASA in the top 10% 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Sentia ASA and its competitors. Sentia ASA's current Beneish M-Score is -3.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sentia ASA stock overvalued right now?
Sentia ASA (FRA:Z9P) has a current Beneish M-Score of -3.29. The current Beneish M-Score is -3.29. Sentia ASA's overall GF Score™ is 19/100 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 Sentia ASA (FRA:Z9P), the current Beneish M-Score is -3.29 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.

Sentia ASA Business Description

Other Exchanges SNTIA:Norway
Address Olav Vs gate 1, Oslo, NOR, 0161
Sentia ASA is engaged in large-scale, complex, and sustainable construction projects. The Group has presence across Norway and Sweden and consists of the following two main business segments: HENT and Sentia Sweden. It is a construction group that builds large-scale, complex buildings and structures for private and public clients, such as hospitals, schools and universities, administrative buildings, police and defence buildings, swimming pools, hotels, apartment buildings, station buildings, land-based fish farming facilities, factory buildings, and more. The Group receives its construction projects either through direct contact with customers or through organised tender processes. Kviberg Nedre Kasern; Britannia Hotel; LHL Sykehuset; Norsk Havteknologise; Aby Arenastad; and Others.
19GF Score

Get the complete analysis for FRA:Z9P

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

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