Enity Holding AB (OSTO:ENITY) Beneish M-Score: -2.30 (As of Aug. 10, 2026)

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OSTO:ENITY Enity Holding AB OSTO:ENITY
2 GF Score
Price kr77.10
! 1 Warning Sign
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What is Enity Holding AB Beneish M-Score?

Enity Holding AB OSTO:ENITY +1.58% 2 Beneish M-Score is -2.30 as of Aug. 10, 2026. GuruFocus rates OSTO:ENITY with a GF Score™ of 2/100. The stock has 1 warning sign investors should review. Among 1,394 Banks companies, Enity Holding AB ranks worse than 67.58% 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 -2.3 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Enity Holding AB's Beneish M-Score or its related term are showing as below:

OSTO:ENITY' s Beneish M-Score Range Over the Past 10 Years
Min: -2.61   Med: -2.3   Max: -2.29
Current: -2.3

During the past 4 years, the highest Beneish M-Score of Enity Holding AB was -2.29. The lowest was -2.61. And the median was -2.30.

OSTO:ENITY
2GF Score
Enity Holding AB OSTO:ENITY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Enity Holding AB 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 Enity Holding AB 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+0.892 * 1.1365+0.115 * 0.9395
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9644+4.679 * 0.0078-0.327 * 0.9189
=-2.30

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was kr0 Mil.
Revenue was 419.8 + 321.9 + 313.2 + 315.3 = kr1,370 Mil.
Gross Profit was 419.8 + 321.9 + 313.2 + 315.3 = kr1,370 Mil.
Total Current Assets was kr0 Mil.
Total Assets was kr40,758 Mil.
Property, Plant and Equipment(Net PPE) was kr89 Mil.
Depreciation, Depletion and Amortization(DDA) was kr127 Mil.
Selling, General, & Admin. Expense(SGA) was kr704 Mil.
Total Current Liabilities was kr0 Mil.
Long-Term Debt & Capital Lease Obligation was kr7,822 Mil.
Net Income was 117.6 + 181.4 + 112.5 + 113 = kr525 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0 Mil.
Cash Flow from Operations was -2192.4 + 2617.2 + 32.4 + -250.6 = kr207 Mil.
 Total Receivables was kr0 Mil.
Revenue was 331.9 + 300.8 + 292.1 + 280.8 = kr1,206 Mil.
Gross Profit was 331.9 + 300.8 + 292.1 + 280.8 = kr1,206 Mil.
Total Current Assets was kr0 Mil.
Total Assets was kr37,882 Mil.
Property, Plant and Equipment(Net PPE) was kr82 Mil.
Depreciation, Depletion and Amortization(DDA) was kr102 Mil.
Selling, General, & Admin. Expense(SGA) was kr642 Mil.
Total Current Liabilities was kr0 Mil.
Long-Term Debt & Capital Lease Obligation was kr7,912 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 / 1370.2) / (0 / 1205.6)
=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)
=(1205.6 / 1205.6) / (1370.2 / 1370.2)
=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 + 88.5) / 40758) / (1 - (0 + 82.3) / 37882.1)
=0.997829 / 0.997827
=1

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
=1370.2 / 1205.6
=1.1365

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))
=(102.4 / (102.4 + 82.3)) / (127.4 / (127.4 + 88.5))
=0.554413 / 0.590088
=0.9395

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)
=(703.9 / 1370.2) / (642.2 / 1205.6)
=0.513721 / 0.532681
=0.9644

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)
=((7822.3 + 0) / 40758) / ((7912 + 0) / 37882.1)
=0.191921 / 0.208859
=0.9189

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
=(524.5 - 0 - 206.6) / 40758
=0.0078

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.

Enity Holding AB has a M-score of -2.30 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 -2.30 mean?
Enity Holding AB (OSTO:ENITY) has a Beneish M-Score of -2.30 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Enity Holding AB and its competitors. According to the industry distribution chart, Enity Holding AB ranks #942 out of 1394 companies in the Banks industry, placing it in the top 67.6%.
Is Enity Holding AB's Beneish M-Score too high?
Enity Holding AB's current Beneish M-Score is -2.30. Based on the distribution chart, Enity Holding AB ranks #942 out of 1394 companies in the Banks industry, which is below the industry midpoint. Overall, Enity Holding AB has a GF Score™ of 2/100, reflecting its overall financial health beyond just this single metric.
How does Enity Holding AB's Beneish M-Score compare to RKT and FNMA?
According to the Banks industry distribution chart, Enity Holding AB ranks #942 out of 1394 companies for Beneish M-Score. This places Enity Holding AB 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 Enity Holding AB and its competitors. Enity Holding AB's current Beneish M-Score is -2.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Enity Holding AB stock overvalued right now?
Enity Holding AB (OSTO:ENITY) has a current Beneish M-Score of -2.30. The current Beneish M-Score is -2.30. Enity Holding AB's overall GF Score™ is 2/100 with 1 warning sign 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 Enity Holding AB (OSTO:ENITY), the current Beneish M-Score is -2.30 as of Aug. 10, 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.

Enity Holding AB Business Description

Other Exchanges ENITYs:UK
Address Sveavagen 167, Stockholm, SWE, SE-104 35
Enity Holding AB is a specialist mortgage provider operating in the Nordic region, creating inventive and inclusive mortgage solutions for many customers across Sweden, Norway and Finland. Geographically, it operates in Sweden, Norway and Germany, of which maximum revenue comes from its operations in Sweden. Through inclusive, yet sustainable and responsible mortgage lending, the company play an important role in supporting those who are often excluded by high-street banks. Its brand portfolio includes Bluestep Bank, Bank2, and 60plusbanken.
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Get the complete analysis for OSTO:ENITY

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

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