Zaptec ASAOSTO:ZAPO +0.50%68 Beneish M-Score is -3.97 as of Jul. 07, 2026. GuruFocus rates OSTO:ZAPO with a GF Score™ of 68/100. The stock has 6 warning signs investors should review. Among 2,916 Industrial Products companies, Zaptec ASA ranks better than 96.5% 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.
Good Sign:
Beneish M-Score -3.97 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Zaptec ASA's Beneish M-Score or its related term are showing as below:
OSTO:ZAPo'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.97 Med: -1.66 Max: -0.55
Current: -3.97
During the past 9 years, the highest Beneish M-Score of Zaptec ASA was -0.55. The lowest was -3.97. And the median was -1.66.
Zaptec ASA Beneish M-Score Related Terms
Zaptec ASA Beneish M-Score Historical Data
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The historical data trend for Zaptec 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.
For the Electrical Equipment & Parts subindustry, Zaptec 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.
Zaptec ASA Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Zaptec ASA's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Zaptec ASA's Beneish M-Score falls into.
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 Zaptec 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 * 0.7305
+
0.528 * 0.9674
+
0.404 * 1.1339
+
0.892 * 1.2091
+
0.115 * 0.9653
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.325603
-
0.327 * 0.785
=
-3.96
* 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))
=
(33.952 / (33.952 + 55.569))
/
(37.653 / (37.653 + 58.182))
=
0.379263
/
0.392894
=
0.9653
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
=
(53.889 - 0
-
439.605)
/
1184.62
=
-0.325603
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.
Zaptec ASA has a M-score of -3.96 suggests that the company is unlikely to be a manipulator.
Zaptec ASA (OSTO:ZAPO) has a Beneish M-Score of -3.97 as of Jul. 07, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Zaptec ASA and its competitors. According to the industry distribution chart, Zaptec ASA ranks #102 out of 2916 companies in the Industrial Products industry, placing it in the top 3.5%.
Is Zaptec ASA's Beneish M-Score too high?
Zaptec ASA's current Beneish M-Score is -3.97. Based on the distribution chart, Zaptec ASA ranks #102 out of 2916 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Zaptec ASA has a GF Score™ of 68/100, reflecting its overall financial health beyond just this single metric.
How does Zaptec ASA's Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Zaptec ASA ranks #102 out of 2916 companies for Beneish M-Score. This places Zaptec ASA in the top 4% 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Zaptec ASA and its competitors. Zaptec ASA's current Beneish M-Score is -3.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zaptec ASA stock overvalued right now?
Zaptec ASA (OSTO:ZAPO) has a current Beneish M-Score of -3.97. The current Beneish M-Score is -3.97. Zaptec ASA's overall GF Score™ is 68/100 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 Zaptec ASA (OSTO:ZAPO), the current Beneish M-Score is -3.97 as of Jul. 07, 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.
Zaptec ASA is a technology company within Electronic vehicle (EV) charging systems in Europe. The company develops EV charging systems for multi and single-family homes and office buildings. The product portfolio enables a large number of charging points at a low cost and includes Zaptec Pro, Zaptec Go, Charge365 payment services, Charging columns, Zaptec Portal, and Zaptec APM. The company accelerates the electrification of the transport sector to assist European countries in reducing CO2 emissions from light-duty cars.
68GF Score
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