Honkarakenne Oyj (LTS:0EPR) Beneish M-Score: -3.61 (As of Jun. 26, 2026)

What is Honkarakenne Oyj Beneish M-Score?

Honkarakenne Oyj LTS:0EPR 67 Beneish M-Score is -3.61 as of Jun. 26, 2026. GuruFocus rates LTS:0EPR with a GF Score™ of 67/100 and a GF Value™ of €2.83. The stock has 4 warning signs investors should review. Among 89 Homebuilding & Construction companies, Honkarakenne Oyj ranks better than 95.51% 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 -3.61 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LTS:0EPR' s Beneish M-Score Range Over the Past 10 Years
Min: -3.61 Med: -2.99 Max: -1.85
Current: -3.61

During the past 13 years, the highest Beneish M-Score of Honkarakenne Oyj was -1.85. The lowest was -3.61. And the median was -2.99.

Honkarakenne Oyj Beneish M-Score Related Terms

Honkarakenne Oyj Beneish M-Score Historical Data

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The historical data trend for Honkarakenne Oyj'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.

Honkarakenne Oyj Beneish M-Score Chart

Honkarakenne Oyj Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.82

-2.85

-1.85

-3.03

-3.61

Honkarakenne Oyj Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															-1.85	0.00	-3.03	0.00	-3.61

LTS:0EPR vs DHI, PHM, LEN: Beneish M-Score Comparison

For the Residential Construction subindustry, Honkarakenne Oyj'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.

Honkarakenne Oyj Beneish M-Score vs Homebuilding & Construction Industry

For the Homebuilding & Construction industry and Consumer Cyclical sector, Honkarakenne Oyj's Beneish M-Score distribution charts can be found below:

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

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67GF Score

Honkarakenne Oyj LTS:0EPR

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

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Honkarakenne Oyj 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 Honkarakenne Oyj 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 * 0.6544

0.528 * 1.019

0.404 * 1.2877

0.892 * 0.9892

0.115 * 0.9014

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.186315

0.327 * 1.1544

-3.61

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was €1.63 Mil.
Revenue was €35.91 Mil.
Gross Profit was €17.29 Mil.
Total Current Assets was €8.43 Mil.
Total Assets was €21.83 Mil.
Property, Plant and Equipment(Net PPE) was €10.39 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.72 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €9.28 Mil.
Long-Term Debt & Capital Lease Obligation was €2.72 Mil.
Net Income was €-4.43 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-0.37 Mil.

Total Receivables was €2.52 Mil.
Revenue was €36.30 Mil.
Gross Profit was €17.81 Mil.
Total Current Assets was €12.04 Mil.
Total Assets was €26.58 Mil.
Property, Plant and Equipment(Net PPE) was €11.69 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.72 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €8.98 Mil.
Long-Term Debt & Capital Lease Obligation was €3.67 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)
	=	(1.628 / 35.908)	/	(2.515 / 36.301)
	=	0.045338	/	0.069282
	=	0.6544

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)
	=	(17.809 / 36.301)	/	(17.288 / 35.908)
	=	0.490593	/	0.481453
	=	1.019

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 - (8.434 + 10.388) / 21.834)	/	(1 - (12.036 + 11.692) / 26.575)
	=	0.13795	/	0.107131
	=	1.2877

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
	=	35.908	/	36.301
	=	0.9892

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))
	=	(1.721 / (1.721 + 11.692))	/	(1.724 / (1.724 + 10.388))
	=	0.128308	/	0.142338
	=	0.9014

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 / 35.908)	/	(0 / 36.301)
	=	0	/	0
	=	1

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)
	=	((2.723 + 9.275) / 21.834)	/	((3.672 + 8.978) / 26.575)
	=	0.54951	/	0.476011
	=	1.1544

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
	=	(-4.433 - 0	-	-0.365)	/	21.834
	=	-0.186315

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.

Honkarakenne Oyj has a M-score of -3.61 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 -3.61 mean?

Honkarakenne Oyj (LTS:0EPR) has a Beneish M-Score of -3.61 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Honkarakenne Oyj and its competitors. According to the industry distribution chart, Honkarakenne Oyj ranks #4 out of 89 companies in the Homebuilding & Construction industry, placing it in the top 4.5%.

Is Honkarakenne Oyj's Beneish M-Score too high?

Honkarakenne Oyj's current Beneish M-Score is -3.61. Based on the distribution chart, Honkarakenne Oyj ranks #4 out of 89 companies in the Homebuilding & Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Honkarakenne Oyj has a GF Score™ of 67/100, reflecting its overall financial health beyond just this single metric.

How does Honkarakenne Oyj's Beneish M-Score compare to DHI and PHM?

According to the Homebuilding & Construction industry distribution chart, Honkarakenne Oyj ranks #4 out of 89 companies for Beneish M-Score. This places Honkarakenne Oyj in the top 5% 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 Homebuilding & Construction company?

A good Beneish M-Score depends on the Homebuilding & 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 Honkarakenne Oyj and its competitors. Honkarakenne Oyj's current Beneish M-Score is -3.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Honkarakenne Oyj stock overvalued right now?

Honkarakenne Oyj (LTS:0EPR) has a current Beneish M-Score of -3.61. The stock's GF Value™ is €2.83, compared to a current price of €2.44 — trading 13.8% below its estimated fair value. The current Beneish M-Score is -3.61. Honkarakenne Oyj's overall GF Score™ is 67/100 with 4 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 Honkarakenne Oyj (LTS:0EPR), the current Beneish M-Score is -3.61 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.

Is Honkarakenne Oyj (LTS:0EPR) Overvalued in 2026?

Based on GuruFocus' analysis, Honkarakenne Oyj stock appears to be undervalued. The current stock price of €2.44 is trading 13.8% below its estimated GF Value™ of €2.83.

Key valuation signals for LTS:0EPR:

Beneish M-Score: -3.61
GF Value™: €2.83 vs. price of €2.44 (13.8% below fair value)
GF Score™: 67/100 with 4 warning signs

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

Honkarakenne Oyj Business Description

Industry Consumer Cyclical Homebuilding & Construction

Comparable Companies DHI PHM LEN NVR TSE:1928 TOL IBP TMHC TSE:1911 LSE:BTRW LSE:PSN TSE:1808 MTH LSE:BKG CVCO SKY LSE:TW.TSE:3291 MHO XTAE:DIMRI

Other Exchanges HONBS:Finland

Address Hongantie 41, Karstula, FIN, FI-43500

Website https://www.honka.com

Honkarakenne Oyj is a Finnish company engaged in the manufacture and sales of log houses in Finland and abroad. It supplies contemporary log homes, traditional log homes, holiday lodges and log cabins for organic, healthy and ecological living. The company also offers services including Honka design service, building service, and extension services. Its business is divided into two geographical operating segments including Finland and Export. The company derives a majority of its revenue from Finland. The Group sells and manufactures log and solid-wood house packages as well as related design and construction services. The sales income related to company's primary business activities is presented as revenue.

67GF Score

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

€2.44

Price

€2.83

GF Value

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