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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 -2.62 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ependion AB's Beneish M-Score or its related term are showing as below:
LTS:0GT8'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.26 Med: -2.69 Max: -1.04
Current: -2.62
During the past 13 years, the highest Beneish M-Score of Ependion AB was -1.04. The lowest was -3.26. And the median was -2.69.
Ependion AB Beneish M-Score Related Terms
Ependion AB Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Ependion AB'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.
LTS:0GT8 vs CSCO, CIEN, MSI: Beneish M-Score Comparison
For the Communication Equipment subindustry, Ependion AB'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.
Ependion AB Beneish M-Score vs Hardware Industry
For the Hardware industry and Technology sector, Ependion AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ependion AB'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 Ependion AB 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 * 1.0813
+
0.528 * 0.9827
+
0.404 * 1.0169
+
0.892 * 1.1048
+
0.115 * 0.4158
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9756
+
4.679 * -0.050071
-
0.327 * 1.0368
=
-2.62
* 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))
=
(7.033 / (7.033 + 236.024))
/
(16.183 / (16.183 + 216.353))
=
0.028936
/
0.069594
=
0.4158
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
=
(170.399 - 0
-
343.737)
/
3461.863
=
-0.050071
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.
Ependion AB has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.
Ependion AB (LTS:0GT8) has a Beneish M-Score of -2.62 as of Jul. 18, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ependion AB and its competitors. According to the industry distribution chart, Ependion AB ranks #901 out of 2406 companies in the Hardware industry, placing it in the top 37.4%.
Is Ependion AB's Beneish M-Score too high?
Ependion AB's current Beneish M-Score is -2.62. Based on the distribution chart, Ependion AB ranks #901 out of 2406 companies in the Hardware industry, which is above the industry midpoint. Overall, Ependion AB has a GF Score™ of 81/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ependion AB's Beneish M-Score compare to CSCO and CIEN?
According to the Hardware industry distribution chart, Ependion AB ranks #901 out of 2406 companies for Beneish M-Score. This puts Ependion AB in the upper 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 Hardware company?
A good Beneish M-Score depends on the Hardware 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 Ependion AB and its competitors. Ependion AB's current Beneish M-Score is -2.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ependion AB stock overvalued right now?
Based on GuruFocus' analysis, Ependion AB (LTS:0GT8) is currently considered Significantly Overvalued. The stock's GF Value™ is kr109.70, compared to a current price of kr157.40 — trading 43.5% above its estimated fair value. The current Beneish M-Score is -2.62. Ependion AB's overall GF Score™ is 81/100 with 8 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 Ependion AB (LTS:0GT8), the current Beneish M-Score is -2.62 as of Jul. 18, 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 Ependion AB (LTS:0GT8) Overvalued in 2026?
Based on GuruFocus' analysis, Ependion AB stock appears to be overvalued.
The current stock price of kr157.40 is trading 43.5% above its estimated GF Value™ of kr109.70.
GuruFocus considers Ependion AB to be Significantly Overvalued.
Key valuation signals for LTS:0GT8:
Beneish M-Score: -2.62
GF Value™: kr109.70 vs. price of kr157.40 (43.5% above fair value)
No single metric tells the full story. See the LTS:0GT8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ependion AB is technology group delivering digital solutions for secure control, visualization and data communication for industrial applications in environments where reliability and high quality are critical factors. The operating segments are divided between the Beijer Electronics and Westermo business entities. Beijer; and Westermo. It generates majority of revenue from Westermo which develops robust and secure communication solutions for harsh environments, with its focus on rail networks, with the business entity being the world'wide market leader in its niche for trackside and for the energy sector. The company has presence in Nordics, Rest of Europe, North America, Asia, and Rest of world.
81GF Score
Get the complete analysis for LTS:0GT8
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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