Ayfie International AS (OSL:AIX) Beneish M-Score: 0.00 (As of Jun. 25, 2026)

What is Ayfie International AS Beneish M-Score?

Ayfie International AS OSL:AIX -0.57% 44 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates OSL:AIX with a GF Score™ of 44/100 and a GF Value™ of kr2.24 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,633 Software companies, Ayfie International AS ranks worse than 37979.45% 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 Ayfie International AS's Beneish M-Score or its related term are showing as below:

During the past 9 years, the highest Beneish M-Score of Ayfie International AS was -1.54. The lowest was -7.40. And the median was -3.86.

Ayfie International AS Beneish M-Score Related Terms

Ayfie International AS Beneish M-Score Historical Data

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The historical data trend for Ayfie International 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.

Ayfie International AS Beneish M-Score Chart

Ayfie International AS Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-1.54

-4.61

0.00

Ayfie International AS Semi-Annual Data
	Dec17	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial										0.00	0.00	0.00	0.00	0.00

OSL:AIX vs CRM, SHOP, UBER: Beneish M-Score Comparison

For the Software - Application subindustry, Ayfie International 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.

Ayfie International AS Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Ayfie International AS's Beneish M-Score distribution charts can be found below:

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

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44GF Score

Ayfie International AS OSL:AIX

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Ayfie International 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 Ayfie International AS for today is based on a combination of the following eight different indices:

-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 *

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was kr1.82 Mil.
Revenue was kr13.80 Mil.
Gross Profit was kr13.80 Mil.
Total Current Assets was kr7.22 Mil.
Total Assets was kr7.41 Mil.
Property, Plant and Equipment(Net PPE) was kr0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.02 Mil.
Selling, General, & Admin. Expense(SGA) was kr3.07 Mil.
Total Current Liabilities was kr11.10 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.00 Mil.
Net Income was kr-26.27 Mil.
Gross Profit was kr0.00 Mil.
Cash Flow from Operations was kr-27.41 Mil.

Total Receivables was kr4.13 Mil.
Revenue was kr18.16 Mil.
Gross Profit was kr17.77 Mil.
Total Current Assets was kr21.61 Mil.
Total Assets was kr21.61 Mil.
Property, Plant and Equipment(Net PPE) was kr0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.00 Mil.
Selling, General, & Admin. Expense(SGA) was kr2.16 Mil.
Total Current Liabilities was kr14.77 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.00 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)
	=	(1.821 / 13.799)	/	(4.133 / 18.162)
	=	0.131966	/	0.227563
	=

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)
	=	(17.768 / 18.162)	/	(13.799 / 13.799)
	=	0.978306	/	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 - (7.216 + 0.029) / 7.412)	/	(1 - (21.612 + 0) / 21.612)
	=	0.022531	/	0
	=

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
	=	13.799	/	18.162
	=

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 / (0 + 0))	/	(0.024 / (0.024 + 0.029))
	=		/	0.45283
	=

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)
	=	(3.068 / 13.799)	/	(2.158 / 18.162)
	=	0.222335	/	0.11882
	=

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)
	=	((0 + 11.099) / 7.412)	/	((0 + 14.771) / 21.612)
	=	1.497437	/	0.683463
	=

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
	=	(-26.267 - 0	-	-27.41)	/	7.412
	=	0.154209

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?

Ayfie International AS (OSL:AIX) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ayfie International AS and its competitors. According to the industry distribution chart, Ayfie International AS ranks #999999 out of 2633 companies in the Software industry.

Is Ayfie International AS's Beneish M-Score too high?

Ayfie International AS's current Beneish M-Score is 0.00. Based on the distribution chart, Ayfie International AS ranks #999999 out of 2633 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Ayfie International AS has a GF Score™ of 44/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Ayfie International AS's Beneish M-Score compare to CRM and SHOP?

According to the Software industry distribution chart, Ayfie International AS ranks #999999 out of 2633 companies for Beneish M-Score. This places Ayfie International 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 Software company?

A good Beneish M-Score depends on the Software 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 Ayfie International AS and its competitors. Ayfie International 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 Ayfie International AS stock overvalued right now?

Based on GuruFocus' analysis, Ayfie International AS (OSL:AIX) is currently considered Significantly Overvalued. The stock's GF Value™ is kr2.24, compared to a current price of kr3.48 — trading 55.4% above its estimated fair value. The current Beneish M-Score is 0.00. Ayfie International AS's overall GF Score™ is 44/100 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 Ayfie International AS (OSL:AIX), the current Beneish M-Score is 0.00 as of Jun. 25, 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 Ayfie International AS (OSL:AIX) Overvalued in 2026?

Based on GuruFocus' analysis, Ayfie International AS stock appears to be overvalued. The current stock price of kr3.48 is trading 55.4% above its estimated GF Value™ of kr2.24. GuruFocus considers Ayfie International AS to be Significantly Overvalued.

Key valuation signals for OSL:AIX:

Beneish M-Score: 0.00
GF Value™: kr2.24 vs. price of kr3.48 (55.4% above fair value)
GF Score™: 44/100 with 3 warning signs

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

Ayfie International AS Business Description

Industry Technology Software

Comparable Companies OSL:HUDL XTER:SAP CRM SHOP UBER NOW ADBE CDNS INTU ADP SNOW DDOG MSTR ADSK TSX:CSU WDAY PAYX ROP ZM FICO

Address Sjolyst Plass 2, Oslo, NOR, 0278

Website https://www.ayfie.com

Ayfie International AS is a Norway-incorporated company engaged in developing and delivering software for enterprise search and generative AI, enabling organizations to search, summarize, and extract insights from documents, emails, and systems, with a mainly subscription-based business model delivered as SaaS or in customer-controlled environments, along with implementation and support services. The company provides solutions such as subscriptions and professional services, including consultancy services. The company generates a majority of its revenue from subscriptions, and geographically, it generates revenue from Norway.

44GF Score

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

kr3.48

Price

kr2.24

GF Value

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