Sparebank 68 Grader Nord (OSL:SB68) Beneish M-Score: -2.35 (As of Jul. 14, 2026)

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OSL:SB68 Sparebank 68 Grader Nord OSL:SB68
63 GF Score
Price kr212.40
GF Value kr190.17
Valuation Modestly Overvalued
! 6 Warning Signs
View Full Analysis

What is Sparebank 68 Grader Nord Beneish M-Score?

Sparebank 68 Grader Nord OSL:SB68 63 Beneish M-Score is -2.35 as of Jul. 14, 2026. GuruFocus rates OSL:SB68 with a GF Score™ of 63/100 and a GF Value™ of kr190.17 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,399 Banks companies, Sparebank 68 Grader Nord ranks worse than 58.61% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.35 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Sparebank 68 Grader Nord's Beneish M-Score or its related term are showing as below:

OSL:SB68' s Beneish M-Score Range Over the Past 10 Years
Min: -2.92   Med: -2.35   Max: -1.9
Current: -2.35

During the past 8 years, the highest Beneish M-Score of Sparebank 68 Grader Nord was -1.90. The lowest was -2.92. And the median was -2.35.

OSL:SB68
63GF Score
Sparebank 68 Grader Nord OSL:SB68
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Sparebank 68 Grader Nord 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 Sparebank 68 Grader Nord 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+0.528 * 1+0.404 * 1.0005+0.892 * 1.0091+0.115 * 0.9667
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7654+4.679 * 0.015161-0.327 * 0.9607
=-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.

This Year (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was kr0.0 Mil.
Revenue was kr362.5 Mil.
Gross Profit was kr362.5 Mil.
Total Current Assets was kr0.0 Mil.
Total Assets was kr12,808.5 Mil.
Property, Plant and Equipment(Net PPE) was kr45.0 Mil.
Depreciation, Depletion and Amortization(DDA) was kr7.0 Mil.
Selling, General, & Admin. Expense(SGA) was kr8.6 Mil.
Total Current Liabilities was kr0.0 Mil.
Long-Term Debt & Capital Lease Obligation was kr2,549.0 Mil.
Net Income was kr137.9 Mil.
Gross Profit was kr0.0 Mil.
Cash Flow from Operations was kr-56.3 Mil.
 Total Receivables was kr0.0 Mil.
Revenue was kr359.3 Mil.
Gross Profit was kr359.3 Mil.
Total Current Assets was kr0.0 Mil.
Total Assets was kr12,118.0 Mil.
Property, Plant and Equipment(Net PPE) was kr48.8 Mil.
Depreciation, Depletion and Amortization(DDA) was kr7.3 Mil.
Selling, General, & Admin. Expense(SGA) was kr11.1 Mil.
Total Current Liabilities was kr0.0 Mil.
Long-Term Debt & Capital Lease Obligation was kr2,510.3 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)
=(0 / 362.549) / (0 / 359.281)
=0 / 0
=1

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)
=(359.281 / 359.281) / (362.549 / 362.549)
=1 / 1
=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 - (0 + 44.957) / 12808.512) / (1 - (0 + 48.793) / 12117.97)
=0.99649 / 0.995974
=1.0005

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
=362.549 / 359.281
=1.0091

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))
=(7.325 / (7.325 + 48.793)) / (7.018 / (7.018 + 44.957))
=0.130529 / 0.135026
=0.9667

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)
=(8.584 / 362.549) / (11.114 / 359.281)
=0.023677 / 0.030934
=0.7654

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)
=((2549.001 + 0) / 12808.512) / ((2510.291 + 0) / 12117.97)
=0.199008 / 0.207154
=0.9607

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
=(137.884 - 0 - -56.309) / 12808.512
=0.015161

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.

Sparebank 68 Grader Nord has a M-score of -2.35 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 -2.35 mean?
Sparebank 68 Grader Nord (OSL:SB68) has a Beneish M-Score of -2.35 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sparebank 68 Grader Nord and its competitors. According to the industry distribution chart, Sparebank 68 Grader Nord ranks #820 out of 1399 companies in the Banks industry, placing it in the top 58.6%.
Is Sparebank 68 Grader Nord's Beneish M-Score too high?
Sparebank 68 Grader Nord's current Beneish M-Score is -2.35. Based on the distribution chart, Sparebank 68 Grader Nord ranks #820 out of 1399 companies in the Banks industry, which is below the industry midpoint. Overall, Sparebank 68 Grader Nord has a GF Score™ of 63/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Sparebank 68 Grader Nord's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Sparebank 68 Grader Nord ranks #820 out of 1399 companies for Beneish M-Score. This places Sparebank 68 Grader Nord 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 Banks company?
A good Beneish M-Score depends on the Banks 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 Sparebank 68 Grader Nord and its competitors. Sparebank 68 Grader Nord's current Beneish M-Score is -2.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sparebank 68 Grader Nord stock overvalued right now?
Based on GuruFocus' analysis, Sparebank 68 Grader Nord (OSL:SB68) is currently considered Modestly Overvalued. The stock's GF Value™ is kr190.17, compared to a current price of kr212.40 — trading 11.7% above its estimated fair value. The current Beneish M-Score is -2.35. Sparebank 68 Grader Nord's overall GF Score™ is 63/100 with 6 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 Sparebank 68 Grader Nord (OSL:SB68), the current Beneish M-Score is -2.35 as of Jul. 14, 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 Sparebank 68 Grader Nord (OSL:SB68) Overvalued in 2026?

Based on GuruFocus' analysis, Sparebank 68 Grader Nord stock appears to be overvalued. The current stock price of kr212.40 is trading 11.7% above its estimated GF Value™ of kr190.17. GuruFocus considers Sparebank 68 Grader Nord to be Modestly Overvalued.

Key valuation signals for OSL:SB68:

  • Beneish M-Score: -2.35
  • GF Value™: kr190.17 vs. price of kr212.40 (11.7% above fair value)
  • GF Score™: 63/100 with 6 warning signs

No single metric tells the full story. See the OSL:SB68 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Sparebank 68 Grader Nord Business Description

Address Storgata 9, Leknes, NOR, 8370
Sparebank 68 Grader Nord is a local savings bank, focused on retail banking and insurance products and services. The range of products offered includes current accounts, payment cards, savings accounts, consumer loans, car loans, and mortgage loans.
63GF Score

Get the complete analysis for OSL:SB68

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

kr212.40
Price
kr190.17
GF Value