FirstFarms ASOCSE:FFARMS 55 Beneish M-Score is -2.12 as of Jun. 27, 2026. GuruFocus rates OCSE:FFARMS with a GF Score™ of 55/100 and a GF Value™ of kr53.96 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, FirstFarms AS ranks worse than 74.42% 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 -2.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for FirstFarms AS's Beneish M-Score or its related term are showing as below:
OCSE:FFARMS'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.06 Med: -2.35 Max: -0.9
Current: -2.12
During the past 13 years, the highest Beneish M-Score of FirstFarms AS was -0.90. The lowest was -4.06. And the median was -2.35.
FirstFarms AS Beneish M-Score Related Terms
FirstFarms AS Beneish M-Score Historical Data
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The historical data trend for FirstFarms 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.
OCSE:FFARMS vs ADM, BG, TSN: Beneish M-Score Comparison
For the Farm Products subindustry, FirstFarms 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.
FirstFarms AS Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, FirstFarms AS's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where FirstFarms AS'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 FirstFarms AS 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 * 1.2501
+
0.528 * 1.2473
+
0.404 * 1.3517
+
0.892 * 0.9103
+
0.115 * 0.9806
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.021705
-
0.327 * 0.8844
=
-2.12
* 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))
=
(62.366 / (62.366 + 1130.372))
/
(66.494 / (66.494 + 1180.492))
=
0.052288
/
0.053324
=
0.9806
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
=
(-20.624 - 0
-
17.247)
/
1744.808
=
-0.021705
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.
FirstFarms AS has a M-score of -2.12 suggests that the company is unlikely to be a manipulator.
FirstFarms AS (OCSE:FFARMS) has a Beneish M-Score of -2.12 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on FirstFarms AS and its competitors. According to the industry distribution chart, FirstFarms AS ranks #1376 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 74.4%.
Is FirstFarms AS's Beneish M-Score too high?
FirstFarms AS's current Beneish M-Score is -2.12. Based on the distribution chart, FirstFarms AS ranks #1376 out of 1849 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, FirstFarms AS has a GF Score™ of 55/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does FirstFarms AS's Beneish M-Score compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, FirstFarms AS ranks #1376 out of 1849 companies for Beneish M-Score. This places FirstFarms 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 a Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 FirstFarms AS and its competitors. FirstFarms AS's current Beneish M-Score is -2.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FirstFarms AS stock overvalued right now?
Based on GuruFocus' analysis, FirstFarms AS (OCSE:FFARMS) is currently considered Modestly Overvalued. The stock's GF Value™ is kr53.96, compared to a current price of kr68.80 — trading 27.5% above its estimated fair value. The current Beneish M-Score is -2.12. FirstFarms AS's overall GF Score™ is 55/100 with 9 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 FirstFarms AS (OCSE:FFARMS), the current Beneish M-Score is -2.12 as of Jun. 27, 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 FirstFarms AS (OCSE:FFARMS) Overvalued in 2026?
Based on GuruFocus' analysis, FirstFarms AS stock appears to be overvalued.
The current stock price of kr68.80 is trading 27.5% above its estimated GF Value™ of kr53.96.
GuruFocus considers FirstFarms AS to be Modestly Overvalued.
Key valuation signals for OCSE:FFARMS:
Beneish M-Score: -2.12
GF Value™: kr53.96 vs. price of kr68.80 (27.5% above fair value)
No single metric tells the full story. See the OCSE:FFARMS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
FirstFarms AS is an agricultural company operating in the area of agriculture and food products. Its business consists of four branches of operation: crops, milk, pigs and development of the land portfolio. Geographically, the group's segments are Romania, Slovakia, Hungary, the Czech Republic, and Denmark. The majority of the company's revenue is derived from Slovakia. The company's revenue consists of the sale of Milk, Cows and calves, piglets and slaughter pigs, crops and others.
55GF Score
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