Hynion AS (OSL:HYN) Beneish M-Score: 0.00 (As of Jul. 01, 2026)


What is Hynion AS Beneish M-Score?

Hynion AS OSL:HYN Beneish M-Score is 0.00 as of Jul. 01, 2026.

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 Hynion AS's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Hynion AS was 0.00. The lowest was 0.00. And the median was 0.00.

Hynion AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hynion 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.

Hynion AS Beneish M-Score Chart

Hynion AS Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
0.00 0.00 30.34 -2.46 -2.93

Hynion AS Semi-Annual Data
Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.00 -2.46 0.00 -2.93 0.00

OSL:HYN vs TSCO, WSM, ULTA: Beneish M-Score Comparison

For the Specialty Retail subindustry, Hynion 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.

Hynion AS Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Hynion AS's Beneish M-Score distribution charts can be found below:

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


Hynion 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 Hynion 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 * 0.9947+0.528 * 2.1249+0.404 * 1.7381+0.892 * 1.1143+0.115 * 0.667
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.276503-0.327 * 1.3388
=-2.93

* 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 (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was kr3.77 Mil.
Revenue was kr4.63 Mil.
Gross Profit was kr-2.01 Mil.
Total Current Assets was kr18.61 Mil.
Total Assets was kr35.78 Mil.
Property, Plant and Equipment(Net PPE) was kr16.89 Mil.
Depreciation, Depletion and Amortization(DDA) was kr1.87 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.00 Mil.
Total Current Liabilities was kr9.72 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.00 Mil.
Net Income was kr-32.22 Mil.
Gross Profit was kr0.00 Mil.
Cash Flow from Operations was kr-22.33 Mil.
 Total Receivables was kr3.41 Mil.
Revenue was kr4.16 Mil.
Gross Profit was kr-3.83 Mil.
Total Current Assets was kr45.15 Mil.
Total Assets was kr70.07 Mil.
Property, Plant and Equipment(Net PPE) was kr24.61 Mil.
Depreciation, Depletion and Amortization(DDA) was kr1.75 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.00 Mil.
Total Current Liabilities was kr14.22 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)
=(3.774 / 4.631) / (3.405 / 4.156)
=0.814943 / 0.819297
=0.9947

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)
=(-3.831 / 4.156) / (-2.009 / 4.631)
=-0.9218 / -0.433816
=2.1249

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 - (18.607 + 16.888) / 35.779) / (1 - (45.146 + 24.607) / 70.073)
=0.007938 / 0.004567
=1.7381

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
=4.631 / 4.156
=1.1143

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))
=(1.75 / (1.75 + 24.607)) / (1.867 / (1.867 + 16.888))
=0.066396 / 0.099547
=0.667

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 / 4.631) / (0 / 4.156)
=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)
=((0 + 9.721) / 35.779) / ((0 + 14.221) / 70.073)
=0.271696 / 0.202945
=1.3388

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
=(-32.22 - 0 - -22.327) / 35.779
=-0.276503

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.

Hynion AS has a M-score of -2.93 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 0.00 mean?
Hynion AS (OSL:HYN) has a Beneish M-Score of 0.00 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hynion AS and its competitors.
Is Hynion AS's Beneish M-Score too high?
Hynion AS's current Beneish M-Score is 0.00.
How does Hynion AS's Beneish M-Score compare to TSCO and WSM?
Hynion AS's Beneish M-Score of 0.00 can be compared against companies in the Retail - Cyclical 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 Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 Hynion AS and its competitors. Hynion 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 Hynion AS stock overvalued right now?
Hynion AS (OSL:HYN) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Hynion AS (OSL:HYN), the current Beneish M-Score is 0.00 as of Jul. 01, 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.

Hynion AS Business Description

Address Sandviksveien 17, P.O. box 526, Hovik, NOR, 1363
Hynion AS is a hydrogen fuel company whose main business is to sell hydrogen fuel through hydrogen stations owned by the company. The company designs, builds, owns, and operates hydrogen fuel stations. The company has four hydrogen stations, one in Norway and three in Sweden.