Brodrene A & O Johansen AS (LTS:0RNT) Beneish M-Score: -2.55 (As of Jun. 26, 2026)

What is Brodrene A & O Johansen AS Beneish M-Score?

Brodrene A & O Johansen AS LTS:0RNT +1.27% 73 Beneish M-Score is -2.55 as of Jun. 26, 2026. GuruFocus rates LTS:0RNT with a GF Score™ of 73/100 and a GF Value™ of kr97.58 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 151 Industrial Distribution companies, Brodrene A & O Johansen AS ranks worse than 54.97% 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 -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Brodrene A & O Johansen AS's Beneish M-Score or its related term are showing as below:

LTS:0RNT' s Beneish M-Score Range Over the Past 10 Years
Min: -3.01 Med: -2.47 Max: -1.67
Current: -2.55

During the past 13 years, the highest Beneish M-Score of Brodrene A & O Johansen AS was -1.67. The lowest was -3.01. And the median was -2.47.

Brodrene A & O Johansen AS Beneish M-Score Related Terms

Brodrene A & O Johansen AS Beneish M-Score Historical Data

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The historical data trend for Brodrene A & O Johansen AS'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.

Brodrene A & O Johansen AS Beneish M-Score Chart

Brodrene A & O Johansen AS Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.44

-2.12

-2.73

-2.32

-2.55

Brodrene A & O Johansen AS Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	0.00	-2.55	0.00

LTS:0RNT vs GWW, FAST, FERG: Beneish M-Score Comparison

For the Industrial Distribution subindustry, Brodrene A & O Johansen AS'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.

Brodrene A & O Johansen AS Beneish M-Score vs Industrial Distribution Industry

For the Industrial Distribution industry and Industrials sector, Brodrene A & O Johansen AS's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Brodrene A & O Johansen AS's Beneish M-Score falls into.

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73GF Score

Brodrene A & O Johansen AS LTS:0RNT

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

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Brodrene A & O Johansen 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 Brodrene A & O Johansen AS 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 * 0.9962

0.528 * 0.95

0.404 * 0.9564

0.892 * 1.1274

0.115 * 0.9227

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.027271

0.327 * 0.996

-2.55

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was kr753 Mil.
Revenue was kr6,121 Mil.
Gross Profit was kr1,483 Mil.
Total Current Assets was kr1,718 Mil.
Total Assets was kr4,096 Mil.
Property, Plant and Equipment(Net PPE) was kr1,418 Mil.
Depreciation, Depletion and Amortization(DDA) was kr143 Mil.
Selling, General, & Admin. Expense(SGA) was kr0 Mil.
Total Current Liabilities was kr1,662 Mil.
Long-Term Debt & Capital Lease Obligation was kr662 Mil.
Net Income was kr201 Mil.
Gross Profit was kr0 Mil.
Cash Flow from Operations was kr312 Mil.

Total Receivables was kr670 Mil.
Revenue was kr5,429 Mil.
Gross Profit was kr1,250 Mil.
Total Current Assets was kr1,556 Mil.
Total Assets was kr3,787 Mil.
Property, Plant and Equipment(Net PPE) was kr1,303 Mil.
Depreciation, Depletion and Amortization(DDA) was kr120 Mil.
Selling, General, & Admin. Expense(SGA) was kr0 Mil.
Total Current Liabilities was kr1,420 Mil.
Long-Term Debt & Capital Lease Obligation was kr737 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)
	=	(752.5 / 6120.8)	/	(670 / 5429.3)
	=	0.122941	/	0.123404
	=	0.9962

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)
	=	(1249.9 / 5429.3)	/	(1483.3 / 6120.8)
	=	0.230214	/	0.242338
	=	0.95

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 - (1717.5 + 1418.4) / 4096)	/	(1 - (1556.3 + 1302.9) / 3787.4)
	=	0.234399	/	0.245076
	=	0.9564

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
	=	6120.8	/	5429.3
	=	1.1274

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))
	=	(120.1 / (120.1 + 1302.9))	/	(142.8 / (142.8 + 1418.4))
	=	0.084399	/	0.091468
	=	0.9227

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 / 6120.8)	/	(0 / 5429.3)
	=	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)
	=	((661.5 + 1661.6) / 4096)	/	((737.3 + 1419.5) / 3787.4)
	=	0.567163	/	0.569467
	=	0.996

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
	=	(200.7 - 0	-	312.4)	/	4096
	=	-0.027271

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.

Brodrene A & O Johansen AS has a M-score of -2.55 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 -2.55 mean?

Brodrene A & O Johansen AS (LTS:0RNT) has a Beneish M-Score of -2.55 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Brodrene A & O Johansen AS and its competitors. According to the industry distribution chart, Brodrene A & O Johansen AS ranks #83 out of 151 companies in the Industrial Distribution industry, placing it in the top 55%.

Is Brodrene A & O Johansen AS's Beneish M-Score too high?

Brodrene A & O Johansen AS's current Beneish M-Score is -2.55. Based on the distribution chart, Brodrene A & O Johansen AS ranks #83 out of 151 companies in the Industrial Distribution industry, which is below the industry midpoint. Overall, Brodrene A & O Johansen AS has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Brodrene A & O Johansen AS's Beneish M-Score compare to GWW and FAST?

According to the Industrial Distribution industry distribution chart, Brodrene A & O Johansen AS ranks #83 out of 151 companies for Beneish M-Score. This places Brodrene A & O Johansen 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 an Industrial Distribution company?

A good Beneish M-Score depends on the Industrial Distribution 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 Brodrene A & O Johansen AS and its competitors. Brodrene A & O Johansen AS's current Beneish M-Score is -2.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Brodrene A & O Johansen AS stock overvalued right now?

Based on GuruFocus' analysis, Brodrene A & O Johansen AS (LTS:0RNT) is currently considered Modestly Undervalued. The stock's GF Value™ is kr97.58, compared to a current price of kr87.70 — trading 10.1% below its estimated fair value. The current Beneish M-Score is -2.55. Brodrene A & O Johansen AS's overall GF Score™ is 73/100 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 Brodrene A & O Johansen AS (LTS:0RNT), the current Beneish M-Score is -2.55 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 Brodrene A & O Johansen AS (LTS:0RNT) Overvalued in 2026?

Based on GuruFocus' analysis, Brodrene A & O Johansen AS stock appears to be undervalued. The current stock price of kr87.70 is trading 10.1% below its estimated GF Value™ of kr97.58. GuruFocus considers Brodrene A & O Johansen AS to be Modestly Undervalued.

Key valuation signals for LTS:0RNT:

Beneish M-Score: -2.55
GF Value™: kr97.58 vs. price of kr87.70 (10.1% below fair value)
GF Score™: 73/100 with 4 warning signs

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

Brodrene A & O Johansen AS Business Description

Industry Industrials Industrial Distribution

Comparable Companies GWW FAST FERG WCC WSO TSX:TIH LSE:DPLM QXO AIT TSX:FTT OSTO:ADDT B CNM OSTO:INDT OSTO:BEIJ B POOL MSM ASX:REH XMTR SITE REZI

Other Exchanges AOJ B:Denmark XH0:Germany

Address Rorvang 3, Albertslund, DNK, 2620

Website http://www.ao.dk

Brodrene A & O Johansen AS is a wholesaler that serves professional and private customers through an omni-channel business model combining digital solutions with a physical presence. The company offers a broad range of technical installation materials and related products, including workwear, tools and brackets, water supply, drainage and sewage, energy, electrical products and HVAC solutions, supported by services such as digital solutions, project advice and logistics. It operates through two segments: B2B, which earns the majority of revenue and serves professional tradesmen and construction companies, and B2C, which serves private DIY consumers through webshops and showrooms. The Group operates mainly in Denmark.

73GF Score

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

kr87.70

Price

kr97.58

GF Value

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