Bergen Carbon Solutions AS (OSL:BCS) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


OSL:BCS Bergen Carbon Solutions AS OSL:BCS
24 GF Score
Price kr5.20
! 2 Warning Signs
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What is Bergen Carbon Solutions AS Beneish M-Score?

Bergen Carbon Solutions AS OSL:BCS +11.11% 24 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates OSL:BCS with a GF Score™ of 24/100. The stock has 2 warning signs investors should review. Among 1,529 Chemicals companies, Bergen Carbon Solutions AS ranks worse than 65402.16% 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 Bergen Carbon Solutions AS's Beneish M-Score or its related term are showing as below:

During the past 8 years, the highest Beneish M-Score of Bergen Carbon Solutions AS was 190.44. The lowest was 0.33. And the median was 95.39.

Bergen Carbon Solutions AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Bergen Carbon Solutions 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.

Bergen Carbon Solutions AS Beneish M-Score Chart

Bergen Carbon Solutions AS Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 190.44 0.33 0.00 0.00 0.00

Bergen Carbon Solutions AS Quarterly Data
Dec20 Jun21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

OSL:BCS vs LIN, SHW, ECL: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, Bergen Carbon Solutions 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.

Bergen Carbon Solutions AS Beneish M-Score vs Chemicals Industry

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

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


OSL:BCS
24GF Score
Bergen Carbon Solutions AS OSL:BCS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bergen Carbon Solutions 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 Bergen Carbon Solutions 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was kr8.10 Mil.
Revenue was kr0.00 Mil.
Gross Profit was kr-0.20 Mil.
Total Current Assets was kr146.56 Mil.
Total Assets was kr164.42 Mil.
Property, Plant and Equipment(Net PPE) was kr17.06 Mil.
Depreciation, Depletion and Amortization(DDA) was kr9.21 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.00 Mil.
Total Current Liabilities was kr10.05 Mil.
Long-Term Debt & Capital Lease Obligation was kr8.40 Mil.
Net Income was kr-40.74 Mil.
Gross Profit was kr0.00 Mil.
Cash Flow from Operations was kr-28.96 Mil.
 Total Receivables was kr6.99 Mil.
Revenue was kr0.00 Mil.
Gross Profit was kr-1.92 Mil.
Total Current Assets was kr179.86 Mil.
Total Assets was kr205.87 Mil.
Property, Plant and Equipment(Net PPE) was kr24.89 Mil.
Depreciation, Depletion and Amortization(DDA) was kr17.14 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.00 Mil.
Total Current Liabilities was kr10.25 Mil.
Long-Term Debt & Capital Lease Obligation was kr11.29 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)
=(8.095 / 0) / (6.993 / 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)
=(-1.917 / 0) / (-0.199 / 0)
= /
=

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 - (146.556 + 17.064) / 164.423) / (1 - (179.864 + 24.894) / 205.866)
=0.004884 / 0.005382
=

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
=0 / 0
=

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))
=(17.14 / (17.14 + 24.894)) / (9.212 / (9.212 + 17.064))
=0.407765 / 0.350586
=

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 / 0) / (0 / 0)
= /
=

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)
=((8.402 + 10.05) / 164.423) / ((11.292 + 10.247) / 205.866)
=0.112223 / 0.104626
=

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
=(-40.741 - 0 - -28.961) / 164.423
=-0.071644

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?
Bergen Carbon Solutions AS (OSL:BCS) 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 Bergen Carbon Solutions AS and its competitors. Over the past decade, Bergen Carbon Solutions AS's Beneish M-Score has ranged from 0.33 to 190.44. According to the industry distribution chart, Bergen Carbon Solutions AS ranks #999999 out of 1529 companies in the Chemicals industry.
Is Bergen Carbon Solutions AS's Beneish M-Score too high?
Bergen Carbon Solutions AS's current Beneish M-Score is 0.00. Over the past 10 years, this metric has ranged from a low of 0.33 to a high of 190.44. Based on the distribution chart, Bergen Carbon Solutions AS ranks #999999 out of 1529 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Bergen Carbon Solutions AS has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does Bergen Carbon Solutions AS's Beneish M-Score compare to LIN and SHW?
According to the Chemicals industry distribution chart, Bergen Carbon Solutions AS ranks #999999 out of 1529 companies for Beneish M-Score. This places Bergen Carbon Solutions AS in the lower half of its industry. Historically, Bergen Carbon Solutions AS's own Beneish M-Score has ranged from 0.33 to 190.44 over the past decade. 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 Bergen Carbon Solutions AS and its competitors. Bergen Carbon Solutions 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 Bergen Carbon Solutions AS stock overvalued right now?
Bergen Carbon Solutions AS (OSL:BCS) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Bergen Carbon Solutions AS's overall GF Score™ is 24/100 with 2 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 Bergen Carbon Solutions AS (OSL:BCS), 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.

Bergen Carbon Solutions AS Business Description

Other Exchanges 7X7:Germany
Address Fleslandvegen 70E, Blomsterdalen, Bergen, NOR, 5258
Bergen Carbon Solutions AS is engaged in the production and delivery of carbon nanofiber. The company produces carbon nanofiber through the application of new breakthrough technology, providing businesses to contribute and solve a environmental challenge.
24GF Score

Get the complete analysis for OSL:BCS

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

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