Burkhalter Holding AG (LTS:0QO2) Beneish M-Score: -3.07 (As of Jun. 24, 2026)

What is Burkhalter Holding AG Beneish M-Score?

Burkhalter Holding AG LTS:0QO2 -0.38% 80 Beneish M-Score is -3.07 as of Jun. 24, 2026. GuruFocus rates LTS:0QO2 with a GF Score™ of 80/100 and a GF Value™ of CHF106.15 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,704 Construction companies, Burkhalter Holding AG ranks better than 84.39% 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 -3.07 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LTS:0QO2' s Beneish M-Score Range Over the Past 10 Years
Min: -3.07 Med: -2.63 Max: -2
Current: -3.07

During the past 13 years, the highest Beneish M-Score of Burkhalter Holding AG was -2.00. The lowest was -3.07. And the median was -2.63.

Burkhalter Holding AG Beneish M-Score Related Terms

Burkhalter Holding AG Beneish M-Score Historical Data

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The historical data trend for Burkhalter Holding 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.

Burkhalter Holding AG Beneish M-Score Chart

Burkhalter Holding AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.42

-2.00

-2.29

-2.97

-3.07

Burkhalter Holding AG 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															-2.29	0.00	-2.97	0.00	-3.07

LTS:0QO2 vs PWR, FIX, EME: Beneish M-Score Comparison

For the Engineering & Construction subindustry, Burkhalter Holding 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.

Burkhalter Holding AG Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Burkhalter Holding AG's Beneish M-Score distribution charts can be found below:

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

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Burkhalter Holding AG LTS:0QO2

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

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Burkhalter Holding 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 Burkhalter Holding 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 * 0.8913

0.528 * 1.0204

0.404 * 0.864

0.892 * 1.0389

0.115 * 1.0528

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0396

4.679 * -0.1044

0.327 * 0.973

-3.07

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was CHF299 Mil.
Revenue was CHF1,202 Mil.
Gross Profit was CHF820 Mil.
Total Current Assets was CHF395 Mil.
Total Assets was CHF464 Mil.
Property, Plant and Equipment(Net PPE) was CHF59 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF9 Mil.
Selling, General, & Admin. Expense(SGA) was CHF32 Mil.
Total Current Liabilities was CHF281 Mil.
Long-Term Debt & Capital Lease Obligation was CHF0 Mil.
Net Income was CHF61 Mil.
Gross Profit was CHF0 Mil.
Cash Flow from Operations was CHF110 Mil.

Total Receivables was CHF323 Mil.
Revenue was CHF1,157 Mil.
Gross Profit was CHF805 Mil.
Total Current Assets was CHF397 Mil.
Total Assets was CHF469 Mil.
Property, Plant and Equipment(Net PPE) was CHF61 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF10 Mil.
Selling, General, & Admin. Expense(SGA) was CHF29 Mil.
Total Current Liabilities was CHF292 Mil.
Long-Term Debt & Capital Lease Obligation was CHF0 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)
	=	(299.249 / 1201.526)	/	(323.181 / 1156.577)
	=	0.249057	/	0.279429
	=	0.8913

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)
	=	(805.32 / 1156.577)	/	(819.859 / 1201.526)
	=	0.696296	/	0.682348
	=	1.0204

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 - (395.077 + 59.358) / 463.775)	/	(1 - (397.419 + 60.755) / 469.108)
	=	0.020139	/	0.023308
	=	0.864

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
	=	1201.526	/	1156.577
	=	1.0389

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))
	=	(9.956 / (9.956 + 60.755))	/	(9.164 / (9.164 + 59.358))
	=	0.140798	/	0.133738
	=	1.0528

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)
	=	(31.642 / 1201.526)	/	(29.297 / 1156.577)
	=	0.026335	/	0.025331
	=	1.0396

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)
	=	((0 + 280.765) / 463.775)	/	((0 + 291.885) / 469.108)
	=	0.605391	/	0.622213
	=	0.973

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
	=	(61.336 - 0	-	109.754)	/	463.775
	=	-0.1044

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.

Burkhalter Holding AG has a M-score of -3.07 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 -3.07 mean?

Burkhalter Holding AG (LTS:0QO2) has a Beneish M-Score of -3.07 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Burkhalter Holding AG and its competitors. According to the industry distribution chart, Burkhalter Holding AG ranks #266 out of 1704 companies in the Construction industry, placing it in the top 15.6%.

Is Burkhalter Holding AG's Beneish M-Score too high?

Burkhalter Holding AG's current Beneish M-Score is -3.07. Based on the distribution chart, Burkhalter Holding AG ranks #266 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Burkhalter Holding AG has a GF Score™ of 80/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Burkhalter Holding AG's Beneish M-Score compare to PWR and FIX?

According to the Construction industry distribution chart, Burkhalter Holding AG ranks #266 out of 1704 companies for Beneish M-Score. This places Burkhalter Holding AG in the top 16% 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 Construction company?

A good Beneish M-Score depends on the 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 Burkhalter Holding AG and its competitors. Burkhalter Holding AG's current Beneish M-Score is -3.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Burkhalter Holding AG stock overvalued right now?

Based on GuruFocus' analysis, Burkhalter Holding AG (LTS:0QO2) is currently considered Significantly Overvalued. The stock's GF Value™ is CHF106.15, compared to a current price of CHF156.00 — trading 47% above its estimated fair value. The current Beneish M-Score is -3.07. Burkhalter Holding AG's overall GF Score™ is 80/100 with 2 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 Burkhalter Holding AG (LTS:0QO2), the current Beneish M-Score is -3.07 as of Jun. 24, 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 Burkhalter Holding AG (LTS:0QO2) Overvalued in 2026?

Based on GuruFocus' analysis, Burkhalter Holding AG stock appears to be overvalued. The current stock price of CHF156.00 is trading 47% above its estimated GF Value™ of CHF106.15. GuruFocus considers Burkhalter Holding AG to be Significantly Overvalued.

Key valuation signals for LTS:0QO2:

Beneish M-Score: -3.07
GF Value™: CHF106.15 vs. price of CHF156.00 (47% above fair value)
GF Score™: 80/100 with 2 warning signs

No single metric tells the full story. See the LTS:0QO2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Burkhalter Holding AG Business Description

Industry Industrials Construction

Comparable Companies XSWX:IMPN PWR XPAR:DG FIX NSE:LT XAMS:FER XKRX:028260 XTER:HOT XMAD:ACS EME MTZ SHSE:601668 STRL XPAR:EN TSX:WSP APG TSE:1812 HKSE:03996 SHSE:601390 XMAD:ANA

Other Exchanges BRKNz:UK BKMA:Germany BRKN:Switzerland

Address Hohlstrasse 475, Zurich, CHE, 8048

Website https://www.burkhalter.ch

Burkhalter Holding AG is a Switzerland-based company which provides electrical engineering services to the construction sector comprising residential and non-residential buildings as well as infrastructure facilities. It provides electrical engineering services at the place of a power station and includes all processes up to and including the regulation of electrical installations and end user machines for buildings. The company's products and services include installations, switchboards, maintenance and repairs, telematics, wiring, cabling, building automation, control & regulation systems and technical security solutions. It undertakes installations and implements systems for high and low voltage equipment in industrial, commercial, non-residential and residential properties.

80GF Score

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

CHF156.00

Price

CHF106.15

GF Value

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