Hove AS (OCSE:HOVE) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


OCSE:HOVE Hove AS OCSE:HOVE
91 GF Score
Price kr5.46
GF Value kr6.53
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Hove AS Beneish M-Score?

Hove AS OCSE:HOVE -1.80% 91 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates OCSE:HOVE with a GF Score™ of 91/100 and a GF Value™ of kr6.53 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,530 Chemicals companies, Hove AS ranks worse than 65359.41% 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.

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

During the past 7 years, the highest Beneish M-Score of Hove AS was -1.94. The lowest was -1.94. And the median was -1.94.

Hove AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hove 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.

Hove AS Beneish M-Score Chart

Hove AS Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 -1.94

Hove AS Quarterly Data
Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 -1.94 0.00

OCSE:HOVE vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, Hove 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.

Hove AS Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Hove AS's Beneish M-Score distribution charts can be found below:

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


OCSE:HOVE
91GF Score
Hove AS OCSE:HOVE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hove 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 Hove 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was kr60.0 Mil.
Revenue was 81.32 + 44.108 + 57.032 + 51.052 = kr233.5 Mil.
Gross Profit was 26.271 + 15.511 + 18.715 + 17.444 = kr77.9 Mil.
Total Current Assets was kr109.2 Mil.
Total Assets was kr140.2 Mil.
Property, Plant and Equipment(Net PPE) was kr22.3 Mil.
Depreciation, Depletion and Amortization(DDA) was kr2.6 Mil.
Selling, General, & Admin. Expense(SGA) was kr14.0 Mil.
Total Current Liabilities was kr32.6 Mil.
Long-Term Debt & Capital Lease Obligation was kr6.4 Mil.
Net Income was 9.811 + 0.25 + 5.099 + 1.303 = kr16.5 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.0 Mil.
Cash Flow from Operations was 2.251 + 11.708 + -2.881 + 1.382 = kr12.5 Mil.
 Total Receivables was kr0.0 Mil.
Revenue was 57.262 + 39.461 + 44.674 + 0 = kr141.4 Mil.
Gross Profit was 21.032 + 12.672 + 16.964 + 0 = kr50.7 Mil.
Total Current Assets was kr0.0 Mil.
Total Assets was kr0.0 Mil.
Property, Plant and Equipment(Net PPE) was kr0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.3 Mil.
Selling, General, & Admin. Expense(SGA) was kr9.8 Mil.
Total Current Liabilities was kr0.0 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.0 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)
=(59.988 / 233.512) / (0 / 141.397)
=0.256895 / 0
=

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)
=(50.668 / 141.397) / (77.941 / 233.512)
=0.358339 / 0.333777
=

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 - (109.15 + 22.325) / 140.204) / (1 - (0 + 0) / 0)
=0.062259 /
=

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
=233.512 / 141.397
=

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))
=(0.317 / (0.317 + 0)) / (2.56 / (2.56 + 22.325))
=1 / 0.102873
=

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)
=(13.95 / 233.512) / (9.819 / 141.397)
=0.05974 / 0.069443
=

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)
=((6.378 + 32.611) / 140.204) / ((0 + 0) / 0)
=0.278088 /
=

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
=(16.463 - 0 - 12.46) / 140.204
=0.028551

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Hove AS (OCSE:HOVE) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hove AS and its competitors. According to the industry distribution chart, Hove AS ranks #999999 out of 1530 companies in the Chemicals industry.
Is Hove AS's Beneish M-Score too high?
Hove AS's current Beneish M-Score is 0.00. Based on the distribution chart, Hove AS ranks #999999 out of 1530 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Hove AS has a GF Score™ of 91/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hove AS's Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Hove AS ranks #999999 out of 1530 companies for Beneish M-Score. This places Hove 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Hove AS and its competitors. Hove AS's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hove AS stock overvalued right now?
Based on GuruFocus' analysis, Hove AS (OCSE:HOVE) is currently considered Modestly Undervalued. The stock's GF Value™ is kr6.53, compared to a current price of kr5.46 — trading 16.4% below its estimated fair value. The current Beneish M-Score is 0.00. Hove AS's overall GF Score™ is 91/100 with 1 warning sign 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 Hove AS (OCSE:HOVE), the current Beneish M-Score is 0.00 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 Hove AS (OCSE:HOVE) Overvalued in 2026?

Based on GuruFocus' analysis, Hove AS stock appears to be undervalued. The current stock price of kr5.46 is trading 16.4% below its estimated GF Value™ of kr6.53. GuruFocus considers Hove AS to be Modestly Undervalued.

Key valuation signals for OCSE:HOVE:

  • Beneish M-Score: 0.00
  • GF Value™: kr6.53 vs. price of kr5.46 (16.4% below fair value)
  • GF Score™: 91/100 with 1 warning sign

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

Hove AS Business Description

Other Exchanges LL0:Germany
Address Herstedostervej 7, Glostrup, DNK, 2600
Hove AS develops, produces, and supplies lubrication solutions for mechanical bearings in the wind turbine industry. The company's solutions are Hove Smart Lube, Hove Carry, Lubrication Solutions, Beinlich Pumps, and others.
91GF Score

Get the complete analysis for OCSE:HOVE

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

kr5.46
Price
kr6.53
GF Value