Stainless Tankers ASA (OSL:STST) Beneish M-Score: 0.00 (As of Jun. 28, 2026)


OSL:STST Stainless Tankers ASA OSL:STST
14 GF Score
Price kr40.10
! 11 Warning Signs
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What is Stainless Tankers ASA Beneish M-Score?

Stainless Tankers ASA OSL:STST -0.99% 14 Beneish M-Score is 0.00 as of Jun. 28, 2026. GuruFocus rates OSL:STST with a GF Score™ of 14/100. The stock has 11 warning signs investors should review. Among 966 Transportation companies, Stainless Tankers ASA ranks worse than 103519.57% 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 Stainless Tankers ASA's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Stainless Tankers ASA was -3.08. The lowest was -3.41. And the median was -3.25.

Stainless Tankers ASA Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Stainless Tankers 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.

Stainless Tankers ASA Beneish M-Score Chart

Stainless Tankers ASA Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Stainless Tankers ASA Quarterly Data
Feb23 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 -3.41 0.00 -3.08 0.00 0.00

Stainless Tankers ASA Beneish M-Score Competitor Comparison

For the Marine Shipping subindustry, Stainless Tankers 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.

Stainless Tankers ASA Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Stainless Tankers ASA's Beneish M-Score distribution charts can be found below:

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


OSL:STST
14GF Score
Stainless Tankers ASA OSL:STST
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Stainless Tankers 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 Stainless Tankers 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 * +0.528 * +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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was kr38.8 Mil.
Revenue was 81.325 + 77.752 + 108.986 + 99.624 = kr367.7 Mil.
Gross Profit was 14.903 + 1.344 + 10.162 + 12.957 = kr39.4 Mil.
Total Current Assets was kr75.5 Mil.
Total Assets was kr914.9 Mil.
Property, Plant and Equipment(Net PPE) was kr839.4 Mil.
Depreciation, Depletion and Amortization(DDA) was kr119.5 Mil.
Selling, General, & Admin. Expense(SGA) was kr20.5 Mil.
Total Current Liabilities was kr195.4 Mil.
Long-Term Debt & Capital Lease Obligation was kr220.2 Mil.
Net Income was -0.551 + -10.471 + 9.983 + 28.477 = kr27.4 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.0 Mil.
Cash Flow from Operations was 21.143 + 43.541 + 20.294 + 56.371 = kr141.3 Mil.
 Total Receivables was kr49.2 Mil.
Revenue was 136.649 + 179.482 + 193.214 + 191.014 = kr700.4 Mil.
Gross Profit was 36.883 + 68.972 + 78.544 + 84.35 = kr268.7 Mil.
Total Current Assets was kr290.8 Mil.
Total Assets was kr1,439.8 Mil.
Property, Plant and Equipment(Net PPE) was kr1,149.0 Mil.
Depreciation, Depletion and Amortization(DDA) was kr127.1 Mil.
Selling, General, & Admin. Expense(SGA) was kr28.7 Mil.
Total Current Liabilities was kr242.5 Mil.
Long-Term Debt & Capital Lease Obligation was kr475.7 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)
=(38.847 / 367.687) / (49.184 / 700.359)
=0.105652 / 0.070227
=

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)
=(268.749 / 700.359) / (39.366 / 367.687)
=0.38373 / 0.107064
=

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 - (75.482 + 839.371) / 914.853) / (1 - (290.778 + 1149.049) / 1439.827)
=0 / 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
=367.687 / 700.359
=

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))
=(127.096 / (127.096 + 1149.049)) / (119.481 / (119.481 + 839.371))
=0.099594 / 0.124608
=

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)
=(20.464 / 367.687) / (28.674 / 700.359)
=0.055656 / 0.040942
=

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)
=((220.168 + 195.432) / 914.853) / ((475.724 + 242.523) / 1439.827)
=0.454281 / 0.498843
=

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
=(27.438 - 0 - 141.349) / 914.853
=-0.124513

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?
Stainless Tankers ASA (OSL:STST) has a Beneish M-Score of 0.00 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Stainless Tankers ASA and its competitors. According to the industry distribution chart, Stainless Tankers ASA ranks #999999 out of 966 companies in the Transportation industry.
Is Stainless Tankers ASA's Beneish M-Score too high?
Stainless Tankers ASA's current Beneish M-Score is 0.00. Based on the distribution chart, Stainless Tankers ASA ranks #999999 out of 966 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Stainless Tankers ASA has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Stainless Tankers ASA's Beneish M-Score compare to competitors?
According to the Transportation industry distribution chart, Stainless Tankers ASA ranks #999999 out of 966 companies for Beneish M-Score. This places Stainless Tankers ASA 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Stainless Tankers ASA and its competitors. Stainless Tankers ASA'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 Stainless Tankers ASA stock overvalued right now?
Stainless Tankers ASA (OSL:STST) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Stainless Tankers ASA's overall GF Score™ is 14/100 with 11 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 Stainless Tankers ASA (OSL:STST), the current Beneish M-Score is 0.00 as of Jun. 28, 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.

Stainless Tankers ASA Business Description

Other Exchanges ZC0:Germany
Address Henrik Ibsens Gate 90, Oslo, NOR, 0255
Stainless Tankers ASA is a shipping company specializing in providing seaborne transportation of chemical cargoes world-wide. The company provides investors with pure play stainless steel chemical tanker exposure in an investor-friendly structure through its fleet of seven stainless steel vessels.
14GF Score

Get the complete analysis for OSL:STST

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

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