Olvi OyjOLVOY 98 Beneish M-Score is -2.41 as of Jul. 09, 2026. GuruFocus rates OLVOY with a GF Score™ of 98/100. The stock has 3 warning signs investors should review. Among 200 Beverages - Alcoholic companies, Olvi Oyj ranks worse than 66% 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 -2.41 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Olvi Oyj's Beneish M-Score or its related term are showing as below:
OLVOY'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.37 Med: -2.64 Max: -1.85
Current: -2.41
During the past 13 years, the highest Beneish M-Score of Olvi Oyj was -1.85. The lowest was -3.37. And the median was -2.64.
Olvi Oyj Beneish M-Score Related Terms
Olvi Oyj Beneish M-Score Historical Data
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The historical data trend for Olvi Oyj'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.
OLVOY vs BUD, STZ, TAP: Beneish M-Score Comparison
For the Beverages - Brewers subindustry, Olvi Oyj'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.
Olvi Oyj Beneish M-Score vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Olvi Oyj's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Olvi Oyj'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 Olvi Oyj 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 * 1.1385
+
0.528 * 0.9783
+
0.404 * 1.4376
+
0.892 * 1.1115
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0634
+
4.679 * -0.043602
-
0.327 * 1.1566
=
-2.35
* 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))
=
(0 / (0 + 260.615))
/
(0 / (0 + 350.182))
=
0
/
0
=
1
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
=
(70.084 - 0
-
105.474)
/
811.659
=
-0.043602
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.
Olvi Oyj has a M-score of -2.35 suggests that the company is unlikely to be a manipulator.
Olvi Oyj (OLVOY) has a Beneish M-Score of -2.41 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Olvi Oyj and its competitors. According to the industry distribution chart, Olvi Oyj ranks #132 out of 200 companies in the Beverages - Alcoholic industry, placing it in the top 66%.
Is Olvi Oyj's Beneish M-Score too high?
Olvi Oyj's current Beneish M-Score is -2.41. Based on the distribution chart, Olvi Oyj ranks #132 out of 200 companies in the Beverages - Alcoholic industry, which is below the industry midpoint. Overall, Olvi Oyj has a GF Score™ of 98/100, reflecting its overall financial health beyond just this single metric.
How does Olvi Oyj's Beneish M-Score compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, Olvi Oyj ranks #132 out of 200 companies for Beneish M-Score. This places Olvi Oyj 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 Beverages - Alcoholic company?
A good Beneish M-Score depends on the Beverages - Alcoholic 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 Olvi Oyj and its competitors. Olvi Oyj's current Beneish M-Score is -2.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Olvi Oyj stock overvalued right now?
Olvi Oyj (OLVOY) has a current Beneish M-Score of -2.41. The current Beneish M-Score is -2.41. Olvi Oyj's overall GF Score™ is 98/100 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 Olvi Oyj (OLVOY), the current Beneish M-Score is -2.41 as of Jul. 09, 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.
Olvi Oyj is an international beverage group that produces alcoholic and nonalcoholic products in several categories. Its product portfolio includes beers, waters, ciders, long drinks, soft drinks, wines, juices, sports drinks, wellness drinks, energy drinks, and distillates. These products are offered under brands like A.Le Coq, Sandels, and OLVI, among others. Olvi generates the majority of its revenue from the sale of beers. The Group's operations are divided into three segments based on the geographical markets in which it operates, including Finland, the Baltic Sea region, and Belarus. The majority of its revenue is generated from the Baltic Sea region.
98GF Score
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