Alandsbanken ABP (OHEL:ALBAV) Beneish M-Score: -2.52 (As of Jul. 24, 2026)

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OHEL:ALBAV Alandsbanken ABP OHEL:ALBAV
62 GF Score
Price €45.80
GF Value €39.56
Valuation Modestly Overvalued
! 3 Warning Signs
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What is Alandsbanken ABP Beneish M-Score?

Alandsbanken ABP OHEL:ALBAV -0.22% 62 Beneish M-Score is -2.52 as of Jul. 24, 2026. GuruFocus rates OHEL:ALBAV with a GF Score™ of 62/100 and a GF Value™ of €39.56 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,391 Banks companies, Alandsbanken ABP ranks better than 73.11% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.52 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

OHEL:ALBAV' s Beneish M-Score Range Over the Past 10 Years
Min: -3.92   Med: -2.37   Max: -1.66
Current: -2.52

During the past 13 years, the highest Beneish M-Score of Alandsbanken ABP was -1.66. The lowest was -3.92. And the median was -2.37.

OHEL:ALBAV
62GF Score
Alandsbanken ABP OHEL:ALBAV
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Alandsbanken ABP 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 Alandsbanken ABP 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+0.528 * 1+0.404 * 1+0.892 * 0.9973+0.115 * 0.9835
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.001899-0.327 * 1.082
=-2.52

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was €0.0 Mil.
Revenue was 52.9 + 56.9 + 56.5 + 52.2 = €218.5 Mil.
Gross Profit was 52.9 + 56.9 + 56.5 + 52.2 = €218.5 Mil.
Total Current Assets was €0.0 Mil.
Total Assets was €5,130.0 Mil.
Property, Plant and Equipment(Net PPE) was €46.0 Mil.
Depreciation, Depletion and Amortization(DDA) was €12.6 Mil.
Selling, General, & Admin. Expense(SGA) was €0.0 Mil.
Total Current Liabilities was €0.0 Mil.
Long-Term Debt & Capital Lease Obligation was €874.0 Mil.
Net Income was 9.6 + 14.1 + 12.9 + 13.1 = €49.7 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0.0 Mil.
Cash Flow from Operations was 63.6 + 17.6 + -52.257 + 30.5 = €59.4 Mil.
 Total Receivables was €0.0 Mil.
Revenue was 56 + 56.2 + 53.9 + 53 = €219.1 Mil.
Gross Profit was 56 + 56.2 + 53.9 + 53 = €219.1 Mil.
Total Current Assets was €0.0 Mil.
Total Assets was €4,903.0 Mil.
Property, Plant and Equipment(Net PPE) was €44.0 Mil.
Depreciation, Depletion and Amortization(DDA) was €11.8 Mil.
Selling, General, & Admin. Expense(SGA) was €0.0 Mil.
Total Current Liabilities was €0.0 Mil.
Long-Term Debt & Capital Lease Obligation was €772.0 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)
=(0 / 218.5) / (0 / 219.1)
=0 / 0
=1

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)
=(219.1 / 219.1) / (218.5 / 218.5)
=1 / 1
=1

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 - (0 + 46) / 5130) / (1 - (0 + 44) / 4903)
=0.991033 / 0.991026
=1

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
=218.5 / 219.1
=0.9973

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))
=(11.8 / (11.8 + 44)) / (12.6 / (12.6 + 46))
=0.21147 / 0.215017
=0.9835

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 / 218.5) / (0 / 219.1)
=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)
=((874 + 0) / 5130) / ((772 + 0) / 4903)
=0.17037 / 0.157455
=1.082

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
=(49.7 - 0 - 59.443) / 5130
=-0.001899

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.

Alandsbanken ABP has a M-score of -2.52 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 -2.52 mean?
Alandsbanken ABP (OHEL:ALBAV) has a Beneish M-Score of -2.52 as of Jul. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Alandsbanken ABP and its competitors. According to the industry distribution chart, Alandsbanken ABP ranks #374 out of 1391 companies in the Banks industry, placing it in the top 26.9%.
Is Alandsbanken ABP's Beneish M-Score too high?
Alandsbanken ABP's current Beneish M-Score is -2.52. Based on the distribution chart, Alandsbanken ABP ranks #374 out of 1391 companies in the Banks industry, which is above the industry midpoint. Overall, Alandsbanken ABP has a GF Score™ of 62/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Alandsbanken ABP's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Alandsbanken ABP ranks #374 out of 1391 companies for Beneish M-Score. This puts Alandsbanken ABP 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Alandsbanken ABP and its competitors. Alandsbanken ABP's current Beneish M-Score is -2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alandsbanken ABP stock overvalued right now?
Based on GuruFocus' analysis, Alandsbanken ABP (OHEL:ALBAV) is currently considered Modestly Overvalued. The stock's GF Value™ is €39.56, compared to a current price of €45.80 — trading 15.8% above its estimated fair value. The current Beneish M-Score is -2.52. Alandsbanken ABP's overall GF Score™ is 62/100 with 3 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 Alandsbanken ABP (OHEL:ALBAV), the current Beneish M-Score is -2.52 as of Jul. 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 Alandsbanken ABP (OHEL:ALBAV) Overvalued in 2026?

Based on GuruFocus' analysis, Alandsbanken ABP stock appears to be overvalued. The current stock price of €45.80 is trading 15.8% above its estimated GF Value™ of €39.56. GuruFocus considers Alandsbanken ABP to be Modestly Overvalued.

Key valuation signals for OHEL:ALBAV:

  • Beneish M-Score: -2.52
  • GF Value™: €39.56 vs. price of €45.80 (15.8% above fair value)
  • GF Score™: 62/100 with 3 warning signs

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

Alandsbanken ABP Business Description

Other Exchanges 0O2M:UK0O2N:UKALBBV:Finland
Address Nygatan 2, Alandsbanken, Mariehamn, FIN, AX-22100
Alandsbanken ABP is a private banking operator based in Finland. The services offered by the company include Accounts, Insurance, Loans, Digital services, Basic banking services, and Invest and Save among others. The reportable segments of the company are Private Banking, Premium Banking, IT, Corporate and others. The Private Banking segment generates the majority of its revenue followed by Premium banking. Geographically, the company operates in Finland and Sweden in which Finland generates key revenue.
62GF Score

Get the complete analysis for OHEL:ALBAV

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

€45.80
Price
€39.56
GF Value