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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 -2.9 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Cynca Nordic AB (publ)'s Beneish M-Score or its related term are showing as below:
OSTO:CYNCA'
s Beneish M-Score Range Over the Past 10 Years
Min: -12.33 Med: -2.9 Max: 94.35
Current: -2.9
During the past 13 years, the highest Beneish M-Score of Cynca Nordic AB (publ) was 94.35. The lowest was -12.33. And the median was -2.90.
Cynca Nordic AB (publ) Beneish M-Score Related Terms
Cynca Nordic AB (publ) Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Cynca Nordic AB (publ)'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.
OSTO:CYNCA vs PWR, FIX, EME: Beneish M-Score Comparison
For the Engineering & Construction subindustry, Cynca Nordic AB (publ)'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.
Cynca Nordic AB (publ) Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Cynca Nordic AB (publ)'s Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cynca Nordic AB (publ)'s Beneish M-Score falls into.
Cynca Nordic AB (publ) 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 Cynca Nordic AB (publ) 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 * 0.9626
+
0.528 * 0.9509
+
0.404 * 1.0851
+
0.892 * 0.8893
+
0.115 * 1.0509
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.066716
-
0.327 * 0.9594
=
-2.90
* 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.
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.
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))
=
(468 / (468 + 665))
/
(465 / (465 + 718))
=
0.413063
/
0.393068
=
1.0509
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
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 - 0
-
314)
/
6760
=
-0.066716
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.
Cynca Nordic AB (publ) has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.
Cynca Nordic AB (publ) (OSTO:CYNCA) has a Beneish M-Score of -2.90 as of Jul. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cynca Nordic AB (publ) and its competitors. According to the industry distribution chart, Cynca Nordic AB (publ) ranks #371 out of 1699 companies in the Construction industry, placing it in the top 21.8%.
Is Cynca Nordic AB (publ)'s Beneish M-Score too high?
Cynca Nordic AB (publ)'s current Beneish M-Score is -2.90. Based on the distribution chart, Cynca Nordic AB (publ) ranks #371 out of 1699 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, Cynca Nordic AB (publ) has a GF Score™ of 43/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cynca Nordic AB (publ)'s Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Cynca Nordic AB (publ) ranks #371 out of 1699 companies for Beneish M-Score. This places Cynca Nordic AB (publ) in the top 22% of its industry — outperforming the majority of peers. 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Cynca Nordic AB (publ) and its competitors. Cynca Nordic AB (publ)'s current Beneish M-Score is -2.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cynca Nordic AB (publ) stock overvalued right now?
Based on GuruFocus' analysis, Cynca Nordic AB (publ) (OSTO:CYNCA) is currently considered Significantly Overvalued. The stock's GF Value™ is kr7.07, compared to a current price of kr16.04 — trading 126.9% above its estimated fair value. The current Beneish M-Score is -2.90. Cynca Nordic AB (publ)'s overall GF Score™ is 43/100 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 Cynca Nordic AB (publ) (OSTO:CYNCA), the current Beneish M-Score is -2.90 as of Jul. 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 Cynca Nordic AB (publ) (OSTO:CYNCA) Overvalued in 2026?
Based on GuruFocus' analysis, Cynca Nordic AB (publ) stock appears to be overvalued.
The current stock price of kr16.04 is trading 126.9% above its estimated GF Value™ of kr7.07.
GuruFocus considers Cynca Nordic AB (publ) to be Significantly Overvalued.
Key valuation signals for OSTO:CYNCA:
Beneish M-Score: -2.90
GF Value™: kr7.07 vs. price of kr16.04 (126.9% above fair value)
No single metric tells the full story. See the OSTO:CYNCA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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43GF Score
Get the complete analysis for OSTO:CYNCA
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