Ovostar Union PCL (WAR:OVO) Beneish M-Score: 0.00 (As of Jul. 14, 2026)

Author:

Vera Yuan

Director of Data and Quant Analytics at GuruFocus

Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.

View Profile →

Reviewed by:

Charlie Tian

Founder & CEO of GuruFocus

Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

View Profile →

Ovostar Union PCL WAR:OVO

4 GF Score

Price zł70.00

View Full Analysis

What is Ovostar Union PCL Beneish M-Score?

Ovostar Union PCL WAR:OVO 4 Beneish M-Score is 0.00 as of Jul. 14, 2026. GuruFocus rates WAR:OVO with a GF Score™ of 4/100.

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.

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

During the past 13 years, the highest Beneish M-Score of Ovostar Union PCL was 0.00. The lowest was 0.00. And the median was 0.00.

Ovostar Union PCL Beneish M-Score Related Terms

Ovostar Union PCL Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ovostar Union PCL'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.

Ovostar Union PCL Beneish M-Score Chart

Ovostar Union PCL Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-6.57

-3.53

-2.74

-2.76

-4.51

Ovostar Union PCL Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-3.84	-4.41	-4.51	-3.58	-2.27

WAR:OVO vs ADM, TSN, BG: Beneish M-Score Comparison

For the Farm Products subindustry, Ovostar Union PCL'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.

Ovostar Union PCL Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Ovostar Union PCL's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Ovostar Union PCL's Beneish M-Score falls into.

Save Embed

4GF Score

Ovostar Union PCL WAR:OVO

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Ovostar Union PCL 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 Ovostar Union PCL for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.3915

0.528 * 0.9048

0.404 * 1.4593

0.892 * 0.8228

0.115 * 0.9504

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.2872

4.679 * -0.016137

0.327 * 0.9799

-2.27

This Year (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was zł55.9 Mil.
Revenue was 108.052 + 135.042 + 149.341 + 130.113 = zł522.5 Mil.
Gross Profit was 34.251 + 38.029 + 75.577 + 59.237 = zł207.1 Mil.
Total Current Assets was zł416.8 Mil.
Total Assets was zł549.9 Mil.
Property, Plant and Equipment(Net PPE) was zł100.3 Mil.
Depreciation, Depletion and Amortization(DDA) was zł12.0 Mil.
Selling, General, & Admin. Expense(SGA) was zł49.7 Mil.
Total Current Liabilities was zł38.6 Mil.
Long-Term Debt & Capital Lease Obligation was zł7.5 Mil.
Net Income was 24.347 + 26.172 + 59.646 + 31.752 = zł141.9 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = zł0.0 Mil.
Cash Flow from Operations was 14.216 + 25.036 + 70.228 + 41.311 = zł150.8 Mil.

Total Receivables was zł48.8 Mil.
Revenue was 156.685 + 179.086 + 171.655 + 127.621 = zł635.0 Mil.
Gross Profit was 57.579 + 44.594 + 27.66 + 97.876 = zł227.7 Mil.
Total Current Assets was zł308.5 Mil.
Total Assets was zł440.5 Mil.
Property, Plant and Equipment(Net PPE) was zł114.0 Mil.
Depreciation, Depletion and Amortization(DDA) was zł12.9 Mil.
Selling, General, & Admin. Expense(SGA) was zł46.9 Mil.
Total Current Liabilities was zł37.7 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.0 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)
	=	(55.864 / 522.548)	/	(48.788 / 635.047)
	=	0.106907	/	0.076826
	=	1.3915

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)
	=	(227.709 / 635.047)	/	(207.094 / 522.548)
	=	0.35857	/	0.396316
	=	0.9048

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 - (416.793 + 100.314) / 549.908)	/	(1 - (308.544 + 113.951) / 440.5)
	=	0.059648	/	0.040874
	=	1.4593

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
	=	522.548	/	635.047
	=	0.8228

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))
	=	(12.872 / (12.872 + 113.951))	/	(11.994 / (11.994 + 100.314))
	=	0.101496	/	0.106796
	=	0.9504

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)
	=	(49.673 / 522.548)	/	(46.899 / 635.047)
	=	0.095059	/	0.073851
	=	1.2872

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)
	=	((7.458 + 38.623) / 549.908)	/	((0 + 37.669) / 440.5)
	=	0.083798	/	0.085514
	=	0.9799

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
	=	(141.917 - 0	-	150.791)	/	549.908
	=	-0.016137

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.

Ovostar Union PCL has a M-score of -2.27 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 0.00 mean?

Ovostar Union PCL (WAR:OVO) has a Beneish M-Score of 0.00 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ovostar Union PCL and its competitors.

Is Ovostar Union PCL's Beneish M-Score too high?

Ovostar Union PCL's current Beneish M-Score is 0.00. Overall, Ovostar Union PCL has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.

How does Ovostar Union PCL's Beneish M-Score compare to ADM and TSN?

Ovostar Union PCL's Beneish M-Score of 0.00 can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?

A good Beneish M-Score depends on the Consumer Packaged Goods 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 Ovostar Union PCL and its competitors. Ovostar Union PCL's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Ovostar Union PCL stock overvalued right now?

Ovostar Union PCL (WAR:OVO) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Ovostar Union PCL's overall GF Score™ is 4/100. 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 Ovostar Union PCL (WAR:OVO), the current Beneish M-Score is 0.00 as of Jul. 14, 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.

Ovostar Union PCL Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies WAR:IMC WAR:AST WAR:AGL WAR:KSG WAR:BEP WAR:GOB ADM SZSE:002714 SZSE:300498 SHSE:600438 TSN BG OSL:MOWI OSL:SALM SZSE:000876 ISX:CPIN XKLS:2445 XKLS:4065 BKK:CPF SZSE:002385

Address 22 Ierotheou Street, 4th floor, Strovolos, Nicosia, CYP, 2028

Website https://www.ovostar.ua

Ovostar Union PCL is a vertically integrated public holding company, manufacturer, and exporter of chicken eggs and egg products. It offers a range of packed shell eggs under the Yasenvit brand name and egg products under the Ovostar brand name. It includes egg albumen, egg powder, egg white, and egg yolk, among others, and is sold to companies such as Nestle, Kraft Foods, and McDonald's, among others. Its segments are Egg and Egg Products.

4GF Score

Get the complete analysis for WAR:OVO

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

zł70.00

Price

View WAR:OVO Analysis

See Beneish M-Score data for all stocks →