DSM-Firmenich AG (LTS:0AC9) Beneish M-Score: -3.29 (As of Jun. 25, 2026)


LTS:0AC9 DSM-Firmenich AG LTS:0AC9
53 GF Score
Price €80.26
GF Value €75.72
Valuation Fairly Valued
! 5 Warning Signs
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What is DSM-Firmenich AG Beneish M-Score?

DSM-Firmenich AG LTS:0AC9 +5.28% 53 Beneish M-Score is -3.29 as of Jun. 25, 2026. GuruFocus rates LTS:0AC9 with a GF Score™ of 53/100 and a GF Value™ of €75.72 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,529 Chemicals companies, DSM-Firmenich AG ranks better than 91.89% 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 DSM-Firmenich AG's Beneish M-Score or its related term are showing as below:

LTS:0AC9' s Beneish M-Score Range Over the Past 10 Years
Min: -3.29   Med: -3.1   Max: -2.91
Current: -3.29

During the past 4 years, the highest Beneish M-Score of DSM-Firmenich AG was -2.91. The lowest was -3.29. And the median was -3.10.

DSM-Firmenich AG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for DSM-Firmenich 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.

DSM-Firmenich AG Beneish M-Score Chart

DSM-Firmenich AG Annual Data
Trend Dec21 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.91 -3.29

DSM-Firmenich AG Semi-Annual Data
Jun22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -2.91 0.00 -3.29

LTS:0AC9 vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, DSM-Firmenich 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.

DSM-Firmenich AG Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, DSM-Firmenich AG's Beneish M-Score distribution charts can be found below:

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


LTS:0AC9
53GF Score
DSM-Firmenich AG LTS:0AC9
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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DSM-Firmenich 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 DSM-Firmenich 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 * 0.7137+0.528 * 1.0043+0.404 * 0.9738+0.892 * 0.9978+0.115 * 0.401
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0031+4.679 * -0.086079-0.327 * 1.203
=-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 €1,910 Mil.
Revenue was €9,034 Mil.
Gross Profit was €3,530 Mil.
Total Current Assets was €8,893 Mil.
Total Assets was €29,345 Mil.
Property, Plant and Equipment(Net PPE) was €4,174 Mil.
Depreciation, Depletion and Amortization(DDA) was €3,122 Mil.
Selling, General, & Admin. Expense(SGA) was €2,206 Mil.
Total Current Liabilities was €5,593 Mil.
Long-Term Debt & Capital Lease Obligation was €3,617 Mil.
Net Income was €-1,081 Mil.
Gross Profit was €0 Mil.
Cash Flow from Operations was €1,445 Mil.
 Total Receivables was €2,682 Mil.
Revenue was €9,054 Mil.
Gross Profit was €3,553 Mil.
Total Current Assets was €8,799 Mil.
Total Assets was €33,747 Mil.
Property, Plant and Equipment(Net PPE) was €5,725 Mil.
Depreciation, Depletion and Amortization(DDA) was €1,186 Mil.
Selling, General, & Admin. Expense(SGA) was €2,204 Mil.
Total Current Liabilities was €4,360 Mil.
Long-Term Debt & Capital Lease Obligation was €4,444 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)
=(1910 / 9034) / (2682 / 9054)
=0.211424 / 0.296223
=0.7137

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)
=(3553 / 9054) / (3530 / 9034)
=0.392423 / 0.390746
=1.0043

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 - (8893 + 4174) / 29345) / (1 - (8799 + 5725) / 33747)
=0.554711 / 0.569621
=0.9738

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
=9034 / 9054
=0.9978

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))
=(1186 / (1186 + 5725)) / (3122 / (3122 + 4174))
=0.17161 / 0.427906
=0.401

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)
=(2206 / 9034) / (2204 / 9054)
=0.244189 / 0.243428
=1.0031

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)
=((3617 + 5593) / 29345) / ((4444 + 4360) / 33747)
=0.313852 / 0.260882
=1.203

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
=(-1081 - 0 - 1445) / 29345
=-0.086079

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.

DSM-Firmenich AG 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?
DSM-Firmenich AG (LTS:0AC9) has a Beneish M-Score of -3.29 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on DSM-Firmenich AG and its competitors. According to the industry distribution chart, DSM-Firmenich AG ranks #124 out of 1529 companies in the Chemicals industry, placing it in the top 8.1%.
Is DSM-Firmenich AG's Beneish M-Score too high?
DSM-Firmenich AG's current Beneish M-Score is -3.29. Based on the distribution chart, DSM-Firmenich AG ranks #124 out of 1529 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, DSM-Firmenich AG has a GF Score™ of 53/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does DSM-Firmenich AG's Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, DSM-Firmenich AG ranks #124 out of 1529 companies for Beneish M-Score. This places DSM-Firmenich AG in the top 8% 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 DSM-Firmenich AG and its competitors. DSM-Firmenich AG'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 DSM-Firmenich AG stock overvalued right now?
Based on GuruFocus' analysis, DSM-Firmenich AG (LTS:0AC9) is currently considered Fairly Valued. The stock's GF Value™ is €75.72, compared to a current price of €80.26 — trading 6% above its estimated fair value. The current Beneish M-Score is -3.29. DSM-Firmenich AG's overall GF Score™ is 53/100 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 DSM-Firmenich AG (LTS:0AC9), the current Beneish M-Score is -3.29 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 DSM-Firmenich AG (LTS:0AC9) Overvalued in 2026?

Based on GuruFocus' analysis, DSM-Firmenich AG stock appears to be overvalued. The current stock price of €80.26 is trading 6% above its estimated GF Value™ of €75.72. GuruFocus considers DSM-Firmenich AG to be Fairly Valued.

Key valuation signals for LTS:0AC9:

  • Beneish M-Score: -3.29
  • GF Value™: €75.72 vs. price of €80.26 (6% above fair value)
  • GF Score™: 53/100 with 5 warning signs

No single metric tells the full story. See the LTS:0AC9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

DSM-Firmenich AG Business Description

Address Wurmisweg 576, Kaiseraugst, CHE, 4303
DSM-Firmenich is a global science-based company formed in 2023 through the merger of DSM, a Dutch nutrition, health, and sustainable living player, and Switzerland-based Firmenich, the third-largest player in the flavor and fragrance market. The company serves a wide range of end-consumer markets providing nutrition solutions ranging from medical and early-life nutrition, fragrances for personal-, home-, and laundry-care brands, prestige perfumes, and other ingredients for food and beverage, home, and personal care. DSM-Firmenich has nearly 30,000 employees, with more than 2,000 scientists and engineers spread across 15 research and development facilities.
53GF Score

Get the complete analysis for LTS:0AC9

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

€80.26
Price
€75.72
GF Value