SAXPY (Sampo Oyj) Beneish M-Score: -1.99 (As of Jun. 25, 2026)


SAXPY Sampo Oyj SAXPY
73 GF Score
Price $20.42
GF Value $22.01
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Sampo Oyj Beneish M-Score?

Sampo Oyj SAXPY +0.44% 73 Beneish M-Score is -1.99 as of Jun. 25, 2026. GuruFocus rates SAXPY with a GF Score™ of 73/100 and a GF Value™ of $22.01 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 397 Insurance companies, Sampo Oyj ranks worse than 85.14% 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 -1.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SAXPY' s Beneish M-Score Range Over the Past 10 Years
Min: -3.05   Med: -2.49   Max: -1.99
Current: -1.99

During the past 13 years, the highest Beneish M-Score of Sampo Oyj was -1.99. The lowest was -3.05. And the median was -2.49.

SAXPY
73GF Score
Sampo Oyj SAXPY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sampo Oyj 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 Sampo Oyj 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 * 1.3213+0.528 * 1+0.404 * 0.9999+0.892 * 1.2542+0.115 * 0.9413
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.009291-0.327 * 0.838
=-1.87

* 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 $288 Mil.
Revenue was $12,087 Mil.
Gross Profit was $12,087 Mil.
Total Current Assets was $0 Mil.
Total Assets was $30,121 Mil.
Property, Plant and Equipment(Net PPE) was $352 Mil.
Depreciation, Depletion and Amortization(DDA) was $247 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $3,179 Mil.
Net Income was $2,340 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $2,060 Mil.
 Total Receivables was $174 Mil.
Revenue was $9,637 Mil.
Gross Profit was $9,637 Mil.
Total Current Assets was $0 Mil.
Total Assets was $25,631 Mil.
Property, Plant and Equipment(Net PPE) was $297 Mil.
Depreciation, Depletion and Amortization(DDA) was $188 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $3,228 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)
=(288.056 / 12086.651) / (173.822 / 9636.649)
=0.023833 / 0.018038
=1.3213

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)
=(9636.649 / 9636.649) / (12086.651 / 12086.651)
=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 + 352.459) / 30120.609) / (1 - (0 + 297.382) / 25631.414)
=0.988298 / 0.988398
=0.9999

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
=12086.651 / 9636.649
=1.2542

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))
=(188.482 / (188.482 + 297.382)) / (247.073 / (247.073 + 352.459))
=0.387932 / 0.41211
=0.9413

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)
=(0 / 12086.651) / (0 / 9636.649)
=0 / 0
=1

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)
=((3179.157 + 0) / 30120.609) / ((3228.272 + 0) / 25631.414)
=0.105548 / 0.12595
=0.838

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
=(2339.578 - 0 - 2059.719) / 30120.609
=0.009291

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.

Sampo Oyj has a M-score of -1.87 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 -1.99 mean?
Sampo Oyj (SAXPY) has a Beneish M-Score of -1.99 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sampo Oyj and its competitors. According to the industry distribution chart, Sampo Oyj ranks #338 out of 397 companies in the Insurance industry, placing it in the top 85.1%.
Is Sampo Oyj's Beneish M-Score too high?
Sampo Oyj's current Beneish M-Score is -1.99. Based on the distribution chart, Sampo Oyj ranks #338 out of 397 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Sampo Oyj has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Sampo Oyj's Beneish M-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Sampo Oyj ranks #338 out of 397 companies for Beneish M-Score. This places Sampo Oyj 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Sampo Oyj and its competitors. Sampo Oyj's current Beneish M-Score is -1.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sampo Oyj stock overvalued right now?
Based on GuruFocus' analysis, Sampo Oyj (SAXPY) is currently considered Modestly Undervalued. The stock's GF Value™ is $22.01, compared to a current price of $20.42 — trading 7.2% below its estimated fair value. The current Beneish M-Score is -1.99. Sampo Oyj's overall GF Score™ is 73/100 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 Sampo Oyj (SAXPY), the current Beneish M-Score is -1.99 as of Jun. 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 Sampo Oyj (SAXPY) Overvalued in 2026?

Based on GuruFocus' analysis, Sampo Oyj stock appears to be undervalued. The current stock price of $20.42 is trading 7.2% below its estimated GF Value™ of $22.01. GuruFocus considers Sampo Oyj to be Modestly Undervalued.

Key valuation signals for SAXPY:

  • Beneish M-Score: -1.99
  • GF Value™: $22.01 vs. price of $20.42 (7.2% below fair value)
  • GF Score™: 73/100 with 1 warning sign

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

Sampo Oyj Business Description

Address Fabianinkatu 21, Helsinki, FIN, 00130
Sampo is a leading Nordics-based insurer headquartered in Finland and listed in Helsinki. The company has operations in Denmark, Estonia, Finland, Norway, Lithuania, Latvia, and the United Kingdom. Sampo has four subsidiaries that mainly sell private insurance to retail customers. It is the largest property and casualty insurer in the Nordics. Headquartered in Sweden, and If also sells insurance in Denmark, Norway, and Finland. Topdanmark is a Danish property and casualty insurer focusing on personal lines insurance as well as agriculture and small and medium-size enterprises. Topdanmark has been rolled into the Nordics, and Hastings is a digital insurer that focuses on car, van, bike, and home insurance in the UK.
73GF Score

Get the complete analysis for SAXPY

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

$20.42
Price
$22.01
GF Value