GBK Beteiligungen AGHAM:GBQ 48 Beneish M-Score is -0.40 as of Jul. 07, 2026. GuruFocus rates HAM:GBQ with a GF Score™ of 48/100 and a GF Value™ of €0.64 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 953 Asset Management companies, GBK Beteiligungen AG ranks worse than 83.32% 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.
Warning Sign:
Beneish M-Score -0.4 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for GBK Beteiligungen AG's Beneish M-Score or its related term are showing as below:
HAM:GBQ'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.18 Med: -2.39 Max: -0.21
Current: -0.4
During the past 13 years, the highest Beneish M-Score of GBK Beteiligungen AG was -0.21. The lowest was -3.18. And the median was -2.39.
GBK Beteiligungen AG Beneish M-Score Related Terms
GBK Beteiligungen AG Beneish M-Score Historical Data
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The historical data trend for GBK Beteiligungen AG'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.
HAM:GBQ vs BLK, BX, KKR: Beneish M-Score Comparison
For the Asset Management subindustry, GBK Beteiligungen AG'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.
GBK Beteiligungen AG Beneish M-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, GBK Beteiligungen AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where GBK Beteiligungen AG's Beneish M-Score falls into.
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 GBK Beteiligungen AG 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 * 2.7062
+
0.528 * 3.1848
+
0.404 * 1.0916
+
0.892 * 0.3066
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 2.5703
+
4.679 * 0.024329
-
0.327 * 0.699
=
-0.40
* 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.
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.
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))
=
/
=
1
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
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
=
(1.27 - 0
-
0)
/
52.201
=
0.024329
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.
GBK Beteiligungen AG has a M-score of -0.40 signals that the company is likely to be a manipulator.
GBK Beteiligungen AG (HAM:GBQ) has a Beneish M-Score of -0.40 as of Jul. 07, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on GBK Beteiligungen AG and its competitors. According to the industry distribution chart, GBK Beteiligungen AG ranks #794 out of 953 companies in the Asset Management industry, placing it in the top 83.3%.
Is GBK Beteiligungen AG's Beneish M-Score too high?
GBK Beteiligungen AG's current Beneish M-Score is -0.40. Based on the distribution chart, GBK Beteiligungen AG ranks #794 out of 953 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, GBK Beteiligungen AG has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does GBK Beteiligungen AG's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, GBK Beteiligungen AG ranks #794 out of 953 companies for Beneish M-Score. This places GBK Beteiligungen AG 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 GBK Beteiligungen AG and its competitors. GBK Beteiligungen AG's current Beneish M-Score is -0.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GBK Beteiligungen AG stock overvalued right now?
Based on GuruFocus' analysis, GBK Beteiligungen AG (HAM:GBQ) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.64, compared to a current price of €4.92 — trading 668.8% above its estimated fair value. The current Beneish M-Score is -0.40. GBK Beteiligungen AG's overall GF Score™ is 48/100 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 GBK Beteiligungen AG (HAM:GBQ), the current Beneish M-Score is -0.40 as of Jul. 07, 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 GBK Beteiligungen AG (HAM:GBQ) Overvalued in 2026?
Based on GuruFocus' analysis, GBK Beteiligungen AG stock appears to be overvalued.
The current stock price of €4.92 is trading 668.8% above its estimated GF Value™ of €0.64.
GuruFocus considers GBK Beteiligungen AG to be Significantly Overvalued.
Key valuation signals for HAM:GBQ:
Beneish M-Score: -0.40
GF Value™: €0.64 vs. price of €4.92 (668.8% above fair value)
No single metric tells the full story. See the HAM:GBQ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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