HolidayCheck Group AG (HAM:HOC) Beneish M-Score: 0.00 (As of Jun. 25, 2026)

What is HolidayCheck Group AG Beneish M-Score?

HolidayCheck Group AG HAM:HOC +2.38% 10 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates HAM:HOC with a GF Score™ of 10/100.

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 HolidayCheck Group AG's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of HolidayCheck Group AG was 0.00. The lowest was 0.00. And the median was 0.00.

HolidayCheck Group AG Beneish M-Score Related Terms

HolidayCheck Group AG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for HolidayCheck Group 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.

HolidayCheck Group AG Beneish M-Score Chart

HolidayCheck Group AG Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Beneish M-Score

Get a 7-Day Free Trial

-2.40

-2.36

-2.50

-2.60

-5.71

HolidayCheck Group AG Quarterly Data
	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21
Beneish M-Score	Get a 7-Day Free Trial															-5.86	-5.71	-2.71	-3.56	-2.69

HAM:HOC vs BKNG, ABNB, TCOM: Beneish M-Score Comparison

For the Travel Services subindustry, HolidayCheck Group 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.

HolidayCheck Group AG Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, HolidayCheck Group AG's Beneish M-Score distribution charts can be found below:

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

Save Embed

10GF Score

HolidayCheck Group AG HAM:HOC

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

View Full Analysis

HolidayCheck Group AG 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 HolidayCheck Group AG 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 * 0.3863

0.528 * 1.1381

0.404 * 0.8511

0.892 * 1.218

0.115 * 1.0187

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.3242

4.679 * -0.02642

0.327 * 0.5188

-2.69

This Year (Sep21) TTM:

Last Year (Sep20) TTM:

Total Receivables was €3.00 Mil.
Revenue was 37.101 + 7.258 + 1.673 + 3.28 = €49.31 Mil.
Gross Profit was 36.913 + 6.491 + 1.739 + -3.611 = €41.53 Mil.
Total Current Assets was €79.22 Mil.
Total Assets was €169.65 Mil.
Property, Plant and Equipment(Net PPE) was €7.97 Mil.
Depreciation, Depletion and Amortization(DDA) was €6.44 Mil.
Selling, General, & Admin. Expense(SGA) was €15.38 Mil.
Total Current Liabilities was €17.47 Mil.
Long-Term Debt & Capital Lease Obligation was €18.32 Mil.
Net Income was 11.867 + -3.647 + -6.485 + -6.217 = €-4.48 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0.00 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = €0.00 Mil.

Total Receivables was €6.37 Mil.
Revenue was 13.003 + 4.936 + -6.749 + 29.295 = €40.49 Mil.
Gross Profit was 13.191 + 5.041 + -7.594 + 28.167 = €38.81 Mil.
Total Current Assets was €55.87 Mil.
Total Assets was €152.51 Mil.
Property, Plant and Equipment(Net PPE) was €9.54 Mil.
Depreciation, Depletion and Amortization(DDA) was €7.97 Mil.
Selling, General, & Admin. Expense(SGA) was €38.94 Mil.
Total Current Liabilities was €41.91 Mil.
Long-Term Debt & Capital Lease Obligation was €20.10 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)
	=	(2.995 / 49.312)	/	(6.365 / 40.485)
	=	0.060736	/	0.157219
	=	0.3863

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)
	=	(38.805 / 40.485)	/	(41.532 / 49.312)
	=	0.958503	/	0.842229
	=	1.1381

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 - (79.224 + 7.965) / 169.645)	/	(1 - (55.874 + 9.535) / 152.508)
	=	0.48605	/	0.571111
	=	0.8511

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
	=	49.312	/	40.485
	=	1.218

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))
	=	(7.971 / (7.971 + 9.535))	/	(6.438 / (6.438 + 7.965))
	=	0.45533	/	0.44699
	=	1.0187

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)
	=	(15.377 / 49.312)	/	(38.941 / 40.485)
	=	0.311831	/	0.961862
	=	0.3242

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)
	=	((18.317 + 17.468) / 169.645)	/	((20.098 + 41.911) / 152.508)
	=	0.21094	/	0.406595
	=	0.5188

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
	=	(-4.482 - 0	-	0)	/	169.645
	=	-0.02642

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.

HolidayCheck Group AG has a M-score of -2.69 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 0.00 mean?

HolidayCheck Group AG (HAM:HOC) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on HolidayCheck Group AG and its competitors.

Is HolidayCheck Group AG's Beneish M-Score too high?

HolidayCheck Group AG's current Beneish M-Score is 0.00. Overall, HolidayCheck Group AG has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.

How does HolidayCheck Group AG's Beneish M-Score compare to BKNG and ABNB?

HolidayCheck Group AG's Beneish M-Score of 0.00 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?

A good Beneish M-Score depends on the Travel & Leisure 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 HolidayCheck Group AG and its competitors. HolidayCheck Group AG'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 HolidayCheck Group AG stock overvalued right now?

HolidayCheck Group AG (HAM:HOC) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. HolidayCheck Group AG's overall GF Score™ is 10/100. 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 HolidayCheck Group AG (HAM:HOC), the current Beneish M-Score is 0.00 as of Jun. 25, 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.

HolidayCheck Group AG Business Description

Industry Consumer Cyclical Travel & Leisure

Comparable Companies XTER:OSP2 XTER:FAA FRA:SGU XTER:V6C HAM:EBS FRA:KGR XTER:CSH FRA:EIS XTER:OBS XTER:SNG BKNG ABNB XMAD:AMS TCOM EXPE CCL RCL NCLH HKSE:00780 MMYT

Address Neumarkter Strasse 61, Munich, DEU, 81673

Website https://www.holidaycheckgroup.com

HolidayCheck Group AG is a European digital company for holidaymakers. Its business activities include the operation of hotel rating and travel booking portals and rental car portal. Its core sales markets for the web portals are Australia, Belgium, Germany, the Netherlands, Poland, and Switzerland. It derives revenue in the form of brokerage on travel and hotel booking and online advertising.

10GF Score

Get the complete analysis for HAM:HOC

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

€4.30

Price

View HAM:HOC Analysis

See Beneish M-Score data for all stocks →