JYSKF (Jyske Bank AS) Beneish M-Score: -2.26 (As of Jun. 25, 2026)


JYSKF Jyske Bank AS JYSKF
39 GF Score
Price $76.50
GF Value $49.93
! 6 Warning Signs
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What is Jyske Bank AS Beneish M-Score?

Jyske Bank AS JYSKF 39 Beneish M-Score is -2.26 as of Jun. 25, 2026. GuruFocus rates JYSKF with a GF Score™ of 39/100 and a GF Value™ of $49.93. The stock has 6 warning signs investors should review. Among 1,396 Banks companies, Jyske Bank AS ranks worse than 73.21% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.26 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

JYSKF' s Beneish M-Score Range Over the Past 10 Years
Min: -2.78   Med: -2.49   Max: -1.92
Current: -2.26

During the past 13 years, the highest Beneish M-Score of Jyske Bank AS was -1.92. The lowest was -2.78. And the median was -2.49.

JYSKF
39GF Score
Jyske Bank AS JYSKF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Jyske Bank AS 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 Jyske Bank AS 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 * 1+0.528 * 1+0.404 * 0.9988+0.892 * 1.0829+0.115 * 0.9605
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.076+4.679 * 0.05389-0.327 * 1.009
=-2.17

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $0 Mil.
Revenue was 484.896 + 616.769 + 571.788 + 529.066 = $2,203 Mil.
Gross Profit was 484.896 + 616.769 + 571.788 + 529.066 = $2,203 Mil.
Total Current Assets was $0 Mil.
Total Assets was $116,718 Mil.
Property, Plant and Equipment(Net PPE) was $808 Mil.
Depreciation, Depletion and Amortization(DDA) was $111 Mil.
Selling, General, & Admin. Expense(SGA) was $374 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $66,559 Mil.
Net Income was 162.251 + 222.94 + 228.81 + 198.052 = $812 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was -2336.783 + 4435.125 + -3612.518 + -3963.667 = $-5,478 Mil.
 Total Receivables was $0 Mil.
Revenue was 499.326 + 490.866 + 533.939 + 509.692 = $2,034 Mil.
Gross Profit was 499.326 + 490.866 + 533.939 + 509.692 = $2,034 Mil.
Total Current Assets was $0 Mil.
Total Assets was $113,396 Mil.
Property, Plant and Equipment(Net PPE) was $650 Mil.
Depreciation, Depletion and Amortization(DDA) was $85 Mil.
Selling, General, & Admin. Expense(SGA) was $321 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $64,087 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 / 2202.519) / (0 / 2033.823)
=0 / 0
=1

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)
=(2033.823 / 2033.823) / (2202.519 / 2202.519)
=1 / 1
=1

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 - (0 + 808.16) / 116718.018) / (1 - (0 + 649.631) / 113395.562)
=0.993076 / 0.994271
=0.9988

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
=2202.519 / 2033.823
=1.0829

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))
=(84.942 / (84.942 + 649.631)) / (110.617 / (110.617 + 808.16))
=0.115635 / 0.120396
=0.9605

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)
=(373.876 / 2202.519) / (320.867 / 2033.823)
=0.169749 / 0.157765
=1.076

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)
=((66559.479 + 0) / 116718.018) / ((64087.371 + 0) / 113395.562)
=0.570259 / 0.565166
=1.009

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
=(812.053 - 0 - -5477.843) / 116718.018
=0.05389

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.

Jyske Bank AS has a M-score of -2.17 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 -2.26 mean?
Jyske Bank AS (JYSKF) has a Beneish M-Score of -2.26 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Jyske Bank AS and its competitors. According to the industry distribution chart, Jyske Bank AS ranks #1022 out of 1396 companies in the Banks industry, placing it in the top 73.2%.
Is Jyske Bank AS's Beneish M-Score too high?
Jyske Bank AS's current Beneish M-Score is -2.26. Based on the distribution chart, Jyske Bank AS ranks #1022 out of 1396 companies in the Banks industry, which is below the industry midpoint. Overall, Jyske Bank AS has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.
How does Jyske Bank AS's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Jyske Bank AS ranks #1022 out of 1396 companies for Beneish M-Score. This places Jyske Bank AS 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 a Banks company?
A good Beneish M-Score depends on the Banks 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 Jyske Bank AS and its competitors. Jyske Bank AS's current Beneish M-Score is -2.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jyske Bank AS stock overvalued right now?
Jyske Bank AS (JYSKF) has a current Beneish M-Score of -2.26. The stock's GF Value™ is $49.93, compared to a current price of $76.50 — trading 53.2% above its estimated fair value. The current Beneish M-Score is -2.26. Jyske Bank AS's overall GF Score™ is 39/100 with 6 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 Jyske Bank AS (JYSKF), the current Beneish M-Score is -2.26 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.

Is Jyske Bank AS (JYSKF) Overvalued in 2026?

Based on GuruFocus' analysis, Jyske Bank AS stock appears to be overvalued. The current stock price of $76.50 is trading 53.2% above its estimated GF Value™ of $49.93.

Key valuation signals for JYSKF:

  • Beneish M-Score: -2.26
  • GF Value™: $49.93 vs. price of $76.50 (53.2% above fair value)
  • GF Score™: 39/100 with 6 warning signs

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

Jyske Bank AS Business Description

Address Vestergade 8-16, Silkeborg, DNK, 8600
Jyske Bank AS is engaged in banking activities. Its subsidiaries provide other financial or accessory services. The company conducts mortgage-credit activities through Jyske Realkredit. The group's primary focus is Danish small and midsize enterprise and retail clients. Through its retail and commercial banking activities, Jyske offers a full range of financial services. Its segment consists of Banking Activities, Mortgage Activities, and Leasing Activities. The company operates in Denmark and Germany, where it earns the majority of its revenue from Denmark.
39GF Score

Get the complete analysis for JYSKF

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

$76.50
Price
$49.93
GF Value