SWZNF (Schweizerische Nationalbank) Beneish M-Score: -3.28 (As of Jun. 27, 2026)


SWZNF Schweizerische Nationalbank SWZNF
28 GF Score
Price $3,818.62
! 4 Warning Signs
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What is Schweizerische Nationalbank Beneish M-Score?

Schweizerische Nationalbank SWZNF 28 Beneish M-Score is -3.28 as of Jun. 27, 2026. GuruFocus rates SWZNF with a GF Score™ of 28/100. The stock has 4 warning signs investors should review. Among 1,397 Banks companies, Schweizerische Nationalbank ranks better than 96.13% 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 -3.28 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SWZNF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.54   Med: -2.7   Max: 8.04
Current: -3.28

During the past 13 years, the highest Beneish M-Score of Schweizerische Nationalbank was 8.04. The lowest was -4.54. And the median was -2.70.

SWZNF
28GF Score
Schweizerische Nationalbank SWZNF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Schweizerische Nationalbank 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 Schweizerische Nationalbank 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 * 0.3667+0.115 * 1.2511
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 2.8788+4.679 * 0.02925-0.327 * 1.1373
=-3.25

* 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 $0 Mil.
Revenue was $33,373 Mil.
Gross Profit was $33,373 Mil.
Total Current Assets was $0 Mil.
Total Assets was $1,121,668 Mil.
Property, Plant and Equipment(Net PPE) was $619 Mil.
Depreciation, Depletion and Amortization(DDA) was $39 Mil.
Selling, General, & Admin. Expense(SGA) was $107 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $215,576 Mil.
Net Income was $32,809 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $0 Mil.
 Total Receivables was $0 Mil.
Revenue was $91,016 Mil.
Gross Profit was $91,016 Mil.
Total Current Assets was $0 Mil.
Total Assets was $957,916 Mil.
Property, Plant and Equipment(Net PPE) was $504 Mil.
Depreciation, Depletion and Amortization(DDA) was $41 Mil.
Selling, General, & Admin. Expense(SGA) was $101 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $161,876 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 / 33372.569) / (0 / 91015.926)
=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)
=(91015.926 / 91015.926) / (33372.569 / 33372.569)
=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 + 618.773) / 1121668.34) / (1 - (0 + 504.486) / 957916.33)
=0.999448 / 0.999473
=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
=33372.569 / 91015.926
=0.3667

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))
=(40.713 / (40.713 + 504.486)) / (39.277 / (39.277 + 618.773))
=0.074675 / 0.059687
=1.2511

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)
=(107.04 / 33372.569) / (101.391 / 91015.926)
=0.003207 / 0.001114
=2.8788

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)
=((215575.982 + 0) / 1121668.34) / ((161876.066 + 0) / 957916.33)
=0.192192 / 0.168988
=1.1373

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
=(32809.261 - 0 - 0) / 1121668.34
=0.02925

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.

Schweizerische Nationalbank has a M-score of -3.25 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 -3.28 mean?
Schweizerische Nationalbank (SWZNF) has a Beneish M-Score of -3.28 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Schweizerische Nationalbank and its competitors. According to the industry distribution chart, Schweizerische Nationalbank ranks #54 out of 1397 companies in the Banks industry, placing it in the top 3.9%.
Is Schweizerische Nationalbank's Beneish M-Score too high?
Schweizerische Nationalbank's current Beneish M-Score is -3.28. Based on the distribution chart, Schweizerische Nationalbank ranks #54 out of 1397 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Schweizerische Nationalbank has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does Schweizerische Nationalbank's Beneish M-Score compare to PNC?
According to the Banks industry distribution chart, Schweizerische Nationalbank ranks #54 out of 1397 companies for Beneish M-Score. This places Schweizerische Nationalbank 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 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 Schweizerische Nationalbank and its competitors. Schweizerische Nationalbank's current Beneish M-Score is -3.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Schweizerische Nationalbank stock overvalued right now?
Schweizerische Nationalbank (SWZNF) has a current Beneish M-Score of -3.28. The current Beneish M-Score is -3.28. Schweizerische Nationalbank's overall GF Score™ is 28/100 with 4 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 Schweizerische Nationalbank (SWZNF), the current Beneish M-Score is -3.28 as of Jun. 27, 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.

Schweizerische Nationalbank Business Description

Other Exchanges SNBNz:UKSNBN:Switzerland
Address Borsenstrasse 15, P.O. Box, Zurich, CHE, 8022
Schweizerische Nationalbank is a special-statute joint-stock company. The bank conducts the country's monetary policy as an independent central bank. It provides banking services to the confederation. Its primary goal is to ensure price stability while taking due account economic developments. In addition, it engages in money market operations, asset management, economic affairs, international monetary cooperation and statistics, and risk management.
28GF 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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