Agilyx ASA (OSL:AGLX) Beneish M-Score: -10.59 (As of Jul. 21, 2026)

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OSL:AGLX Agilyx ASA OSL:AGLX
53 GF Score
Price kr18.20
GF Value kr13.01
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is Agilyx ASA Beneish M-Score?

Agilyx ASA OSL:AGLX +7.69% 53 Beneish M-Score is -10.59 as of Jul. 21, 2026. GuruFocus rates OSL:AGLX with a GF Score™ of 53/100 and a GF Value™ of kr13.01 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 225 Waste Management companies, Agilyx ASA ranks better than 99.56% 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 -10.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

OSL:AGLX' s Beneish M-Score Range Over the Past 10 Years
Min: -10.59   Med: -1.61   Max: 59.94
Current: -10.59

During the past 7 years, the highest Beneish M-Score of Agilyx ASA was 59.94. The lowest was -10.59. And the median was -1.61.


Agilyx ASA Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Agilyx ASA'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.

Agilyx ASA Beneish M-Score Chart

Agilyx ASA Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 59.94 -2.76 2.14 -1.61 -10.59

Agilyx ASA Semi-Annual Data
Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.14 0.00 -1.61 0.00 -10.59

OSL:AGLX vs WM, RSG, WCN: Beneish M-Score Comparison

For the Waste Management subindustry, Agilyx ASA'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.


Agilyx ASA Beneish M-Score vs Waste Management Industry

For the Waste Management industry and Industrials sector, Agilyx ASA's Beneish M-Score distribution charts can be found below:

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


OSL:AGLX
53GF Score
Agilyx ASA OSL:AGLX
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Agilyx ASA 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 Agilyx ASA 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 * 0.7468+0.528 * -0.0232+0.404 * 0.7699+0.892 * 1.0836+0.115 * 0.9432
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0385+4.679 * -1.414713-0.327 * 3.1077
=-10.59

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was kr5.36 Mil.
Revenue was kr12.28 Mil.
Gross Profit was kr-17.25 Mil.
Total Current Assets was kr468.40 Mil.
Total Assets was kr998.16 Mil.
Property, Plant and Equipment(Net PPE) was kr13.71 Mil.
Depreciation, Depletion and Amortization(DDA) was kr6.53 Mil.
Selling, General, & Admin. Expense(SGA) was kr103.80 Mil.
Total Current Liabilities was kr13.73 Mil.
Long-Term Debt & Capital Lease Obligation was kr756.83 Mil.
Net Income was kr-1,496.25 Mil.
Gross Profit was kr0.00 Mil.
Cash Flow from Operations was kr-84.14 Mil.
Total Receivables was kr6.62 Mil.
Revenue was kr11.33 Mil.
Gross Profit was kr0.37 Mil.
Total Current Assets was kr690.56 Mil.
Total Assets was kr2,163.10 Mil.
Property, Plant and Equipment(Net PPE) was kr19.93 Mil.
Depreciation, Depletion and Amortization(DDA) was kr8.72 Mil.
Selling, General, & Admin. Expense(SGA) was kr92.24 Mil.
Total Current Liabilities was kr24.80 Mil.
Long-Term Debt & Capital Lease Obligation was kr512.53 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)
=(5.357 / 12.28) / (6.62 / 11.333)
=0.436238 / 0.584135
=0.7468

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)
=(0.37 / 11.333) / (-17.252 / 12.28)
=0.032648 / -1.404886
=-0.0232

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 - (468.404 + 13.705) / 998.157) / (1 - (690.56 + 19.927) / 2163.102)
=0.517001 / 0.671543
=0.7699

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
=12.28 / 11.333
=1.0836

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))
=(8.718 / (8.718 + 19.927)) / (6.529 / (6.529 + 13.705))
=0.304346 / 0.322675
=0.9432

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)
=(103.798 / 12.28) / (92.243 / 11.333)
=8.452606 / 8.139328
=1.0385

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)
=((756.825 + 13.725) / 998.157) / ((512.525 + 24.797) / 2163.102)
=0.771973 / 0.248403
=3.1077

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
=(-1496.246 - 0 - -84.14) / 998.157
=-1.414713

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.

Agilyx ASA has a M-score of -10.59 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 -10.59 mean?
Agilyx ASA (OSL:AGLX) has a Beneish M-Score of -10.59 as of Jul. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Agilyx ASA and its competitors. According to the industry distribution chart, Agilyx ASA ranks #1 out of 225 companies in the Waste Management industry, placing it in the top 0.40000000000001%.
Is Agilyx ASA's Beneish M-Score too high?
Agilyx ASA's current Beneish M-Score is -10.59. Based on the distribution chart, Agilyx ASA ranks #1 out of 225 companies in the Waste Management industry, which is in the top quartile — a strong position relative to peers. Overall, Agilyx ASA has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Agilyx ASA's Beneish M-Score compare to WM and RSG?
According to the Waste Management industry distribution chart, Agilyx ASA ranks #1 out of 225 companies for Beneish M-Score. This places Agilyx ASA in the top 0% of its industry — outperforming the majority of peers. 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 Waste Management company?
A good Beneish M-Score depends on the Waste Management 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 Agilyx ASA and its competitors. Agilyx ASA's current Beneish M-Score is -10.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Agilyx ASA stock overvalued right now?
Based on GuruFocus' analysis, Agilyx ASA (OSL:AGLX) is currently considered Significantly Overvalued. The stock's GF Value™ is kr13.01, compared to a current price of kr18.20 — trading 39.9% above its estimated fair value. The current Beneish M-Score is -10.59. Agilyx ASA's overall GF Score™ is 53/100 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 Agilyx ASA (OSL:AGLX), the current Beneish M-Score is -10.59 as of Jul. 21, 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 Agilyx ASA (OSL:AGLX) Overvalued in 2026?

Based on GuruFocus' analysis, Agilyx ASA stock appears to be overvalued. The current stock price of kr18.20 is trading 39.9% above its estimated GF Value™ of kr13.01. GuruFocus considers Agilyx ASA to be Significantly Overvalued.

Key valuation signals for OSL:AGLX:

  • Beneish M-Score: -10.59
  • GF Value™: kr13.01 vs. price of kr18.20 (39.9% above fair value)
  • GF Score™: 53/100 with 9 warning signs

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


Agilyx ASA Business Description

Address 7370 South West Durham Road, Tigard, OR, USA, 97224
Agilyx ASA is a developer of conversion technologies across the value chain intended to offer two molecular recycling product pathways enabling a circular economy for polystyrene and polymethyl methacrylate. The company offers waste sourcing and processing, thereby helping the entire plastic recycling market to convert recycled waste plastics into valuable resources such as oils and chemical substrate products. The company has two reportable segments: Agilyx and Cyclyx. It derives the majority of its revenue from the Cyclyx segment.
53GF Score

Get the complete analysis for OSL:AGLX

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

kr18.20
Price
kr13.01
GF Value