Horizon Robotics (STU:8YO) Beneish M-Score: -2.29 (As of Aug. 08, 2026)

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STU:8YO Horizon Robotics STU:8YO
16 GF Score
Price €0.53
! 3 Warning Signs
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What is Horizon Robotics Beneish M-Score?

Horizon Robotics STU:8YO -3.26% 16 Beneish M-Score is -2.29 as of Aug. 08, 2026. GuruFocus rates STU:8YO with a GF Score™ of 16/100. The stock has 3 warning signs investors should review. Among 2,628 Software companies, Horizon Robotics ranks worse than 65.6% 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 -2.29 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

STU:8YO' s Beneish M-Score Range Over the Past 10 Years
Min: -3.37   Med: -2.29   Max: -1.42
Current: -2.29

During the past 5 years, the highest Beneish M-Score of Horizon Robotics was -1.42. The lowest was -3.37. And the median was -2.29.

Horizon Robotics Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Horizon Robotics'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.

Horizon Robotics Beneish M-Score Chart

Horizon Robotics Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -3.37 -1.42 -2.29

Horizon Robotics Semi-Annual Data
Dec21 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial -3.37 0.00 -1.42 0.00 -2.29

STU:8YO vs QH, SHOP, UBER: Beneish M-Score Comparison

For the Software - Application subindustry, Horizon Robotics'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.

Horizon Robotics Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Horizon Robotics's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Horizon Robotics's Beneish M-Score falls into.


STU:8YO
16GF Score
Horizon Robotics STU:8YO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Horizon Robotics 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 Horizon Robotics 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 * 1.7125+0.528 * 1.1969+0.404 * 1.5783+0.892 * 1.4575+0.115 * 1.1665
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8222+4.679 * -0.2732-0.327 * 1.4261
=-2.45

* 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 €224.9 Mil.
Revenue was €455.7 Mil.
Gross Profit was €294.1 Mil.
Total Current Assets was €2,924.4 Mil.
Total Assets was €3,711.7 Mil.
Property, Plant and Equipment(Net PPE) was €143.1 Mil.
Depreciation, Depletion and Amortization(DDA) was €53.5 Mil.
Selling, General, & Admin. Expense(SGA) was €164.6 Mil.
Total Current Liabilities was €2,046.2 Mil.
Long-Term Debt & Capital Lease Obligation was €66.8 Mil.
Net Income was €-1,269.4 Mil.
Gross Profit was €0.0 Mil.
Cash Flow from Operations was €-255.4 Mil.
 Total Receivables was €90.1 Mil.
Revenue was €312.6 Mil.
Gross Profit was €241.5 Mil.
Total Current Assets was €2,255.5 Mil.
Total Assets was €2,673.1 Mil.
Property, Plant and Equipment(Net PPE) was €123.6 Mil.
Depreciation, Depletion and Amortization(DDA) was €57.5 Mil.
Selling, General, & Admin. Expense(SGA) was €137.4 Mil.
Total Current Liabilities was €167.6 Mil.
Long-Term Debt & Capital Lease Obligation was €899.5 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)
=(224.851 / 455.696) / (90.083 / 312.648)
=0.493423 / 0.288129
=1.7125

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)
=(241.528 / 312.648) / (294.118 / 455.696)
=0.772524 / 0.645426
=1.1969

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 - (2924.367 + 143.119) / 3711.652) / (1 - (2255.524 + 123.627) / 2673.086)
=0.173552 / 0.109961
=1.5783

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
=455.696 / 312.648
=1.4575

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))
=(57.513 / (57.513 + 123.627)) / (53.525 / (53.525 + 143.119))
=0.317506 / 0.272192
=1.1665

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)
=(164.646 / 455.696) / (137.395 / 312.648)
=0.361307 / 0.439456
=0.8222

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)
=((66.768 + 2046.2) / 3711.652) / ((899.482 + 167.61) / 2673.086)
=0.56928 / 0.399199
=1.4261

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
=(-1269.386 - 0 - -255.362) / 3711.652
=-0.2732

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.

Horizon Robotics has a M-score of -2.45 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 -2.29 mean?
Horizon Robotics (STU:8YO) has a Beneish M-Score of -2.29 as of Aug. 08, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Horizon Robotics and its competitors. According to the industry distribution chart, Horizon Robotics ranks #1724 out of 2628 companies in the Software industry, placing it in the top 65.6%.
Is Horizon Robotics' Beneish M-Score too high?
Horizon Robotics' current Beneish M-Score is -2.29. Based on the distribution chart, Horizon Robotics ranks #1724 out of 2628 companies in the Software industry, which is below the industry midpoint. Overall, Horizon Robotics has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Horizon Robotics' Beneish M-Score compare to QH and SHOP?
According to the Software industry distribution chart, Horizon Robotics ranks #1724 out of 2628 companies for Beneish M-Score. This places Horizon Robotics 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 Software company?
A good Beneish M-Score depends on the Software 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 Horizon Robotics and its competitors. Horizon Robotics's current Beneish M-Score is -2.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Horizon Robotics stock overvalued right now?
Horizon Robotics (STU:8YO) has a current Beneish M-Score of -2.29. The current Beneish M-Score is -2.29. Horizon Robotics' overall GF Score™ is 16/100 with 3 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 Horizon Robotics (STU:8YO), the current Beneish M-Score is -2.29 as of Aug. 08, 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.

Horizon Robotics Business Description

Address No. 9, Fenghao East Road, Block A, Building No. 2, Haidian District, Beijing, CHN
Horizon Robotics is a provider of driver assistance systems (ADAS) and autonomous driving (AD) solutions for passenger vehicles, empowered by software and hardware technologies. Its solutions combine algorithms, purpose-built software, and processing hardware, providing the core technologies for assisted and autonomous driving that enhance the safety and experience of drivers and passengers. The company has two reportable segments: Automotive solutions and Non-Automotive solutions. A majority of its revenue is generated from the Automotive solutions segment. Geographically, the company derives a majority of its revenue from Mainland China.
16GF Score

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

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