AtomTrace AS (XPRA:ATOMT) Beneish M-Score: -6.46 (As of Jul. 26, 2026)

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AtomTrace AS XPRA:ATOMT

What is AtomTrace AS Beneish M-Score?

AtomTrace AS XPRA:ATOMT 58 Beneish M-Score is -6.46 as of Jul. 26, 2026. GuruFocus rates XPRA:ATOMT with a GF Score™ of 58/100 and a GF Value™ of Kč31.26. The stock has 6 warning signs investors should review.

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 -6.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XPRA:ATOMT' s Beneish M-Score Range Over the Past 10 Years
Min: -6.46 Med: 5.85 Max: 85.15
Current: -6.46

During the past 8 years, the highest Beneish M-Score of AtomTrace AS was 85.15. The lowest was -6.46. And the median was 5.85.

AtomTrace AS Beneish M-Score Related Terms

AtomTrace AS Beneish M-Score Historical Data

* Premium members only.

The historical data trend for AtomTrace AS'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.

AtomTrace AS Beneish M-Score Chart

AtomTrace AS Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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4.03

-4.04

20.21

85.15

-6.46

AtomTrace AS Semi-Annual Data
	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22	Dec23	Dec24
Beneish M-Score	Get a 7-Day Free Trial			4.03	-4.04	20.21	85.15	-6.46

XPRA:ATOMT vs COHR, KEYS, GRMN: Beneish M-Score Comparison

For the Scientific & Technical Instruments subindustry, AtomTrace AS'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.

AtomTrace AS Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, AtomTrace AS's Beneish M-Score distribution charts can be found below:

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

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58GF Score

AtomTrace AS XPRA:ATOMT

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

View Full Analysis

AtomTrace AS 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 AtomTrace AS 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 * 2.4827

0.528 * -0.0746

0.404 * 3.8886

0.892 * 0.1996

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.83036

0.327 * 5.1004

-6.46

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was Kč3.69 Mil.
Revenue was Kč4.26 Mil.
Gross Profit was Kč-18.07 Mil.
Total Current Assets was Kč9.53 Mil.
Total Assets was Kč9.81 Mil.
Property, Plant and Equipment(Net PPE) was Kč0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was Kč0.03 Mil.
Selling, General, & Admin. Expense(SGA) was Kč0.00 Mil.
Total Current Liabilities was Kč15.31 Mil.
Long-Term Debt & Capital Lease Obligation was Kč0.00 Mil.
Net Income was Kč-25.85 Mil.
Gross Profit was Kč0.00 Mil.
Cash Flow from Operations was Kč-17.70 Mil.

Total Receivables was Kč7.45 Mil.
Revenue was Kč21.32 Mil.
Gross Profit was Kč6.75 Mil.
Total Current Assets was Kč29.10 Mil.
Total Assets was Kč29.32 Mil.
Property, Plant and Equipment(Net PPE) was Kč0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was Kč0.08 Mil.
Selling, General, & Admin. Expense(SGA) was Kč0.00 Mil.
Total Current Liabilities was Kč8.97 Mil.
Long-Term Debt & Capital Lease Obligation was Kč0.00 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)
	=	(3.693 / 4.255)	/	(7.453 / 21.319)
	=	0.86792	/	0.349594
	=	2.4827

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)
	=	(6.751 / 21.319)	/	(-18.065 / 4.255)
	=	0.316666	/	-4.245593
	=	-0.0746

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 - (9.528 + 0) / 9.809)	/	(1 - (29.104 + 0) / 29.32)
	=	0.028647	/	0.007367
	=	3.8886

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
	=	4.255	/	21.319
	=	0.1996

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))
	=	(0.083 / (0.083 + 0))	/	(0.028 / (0.028 + 0))
	=	1	/	1
	=	1

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 / 4.255)	/	(0 / 21.319)
	=	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)
	=	((0 + 15.306) / 9.809)	/	((0 + 8.97) / 29.32)
	=	1.560404	/	0.305935
	=	5.1004

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
	=	(-25.847 - 0	-	-17.702)	/	9.809
	=	-0.83036

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.

AtomTrace AS has a M-score of -6.46 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 -6.46 mean?

AtomTrace AS (XPRA:ATOMT) has a Beneish M-Score of -6.46 as of Jul. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AtomTrace AS and its competitors.

Is AtomTrace AS's Beneish M-Score too high?

AtomTrace AS's current Beneish M-Score is -6.46. Overall, AtomTrace AS has a GF Score™ of 58/100, reflecting its overall financial health beyond just this single metric.

How does AtomTrace AS's Beneish M-Score compare to COHR and KEYS?

AtomTrace AS's Beneish M-Score of -6.46 can be compared against companies in the Hardware 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 Hardware company?

A good Beneish M-Score depends on the Hardware 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 AtomTrace AS and its competitors. AtomTrace AS's current Beneish M-Score is -6.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is AtomTrace AS stock overvalued right now?

AtomTrace AS (XPRA:ATOMT) has a current Beneish M-Score of -6.46. The stock's GF Value™ is Kč31.26, compared to a current price of Kč7.00 — trading 77.6% below its estimated fair value. The current Beneish M-Score is -6.46. AtomTrace AS's overall GF Score™ is 58/100 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 AtomTrace AS (XPRA:ATOMT), the current Beneish M-Score is -6.46 as of Jul. 26, 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 AtomTrace AS (XPRA:ATOMT) Overvalued in 2026?

Based on GuruFocus' analysis, AtomTrace AS stock appears to be undervalued. The current stock price of Kč7.00 is trading 77.6% below its estimated GF Value™ of Kč31.26.

Key valuation signals for XPRA:ATOMT:

Beneish M-Score: -6.46
GF Value™: Kč31.26 vs. price of Kč7.00 (77.6% below fair value)
GF Score™: 58/100 with 6 warning signs

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

AtomTrace AS Business Description

Industry Technology Hardware

Comparable Companies XPRA:FIXED TSE:6861 COHR KEYS GRMN TPE:2360 TDY OSTO:HEXA B MKSI FTV TRMB CGNX SZSE:002414 SZSE:300567 ESE ST TSE:6856 TSE:7701 NOVT ASX:CDA

Address Kolejni 3094/9, Kralovo Pole, Brno, CZE, 612 00

Website https://www.atomtrace.com

AtomTrace AS provides technology that performs multi-elemental analysis of periodic table elements including those with low atomic weight. The company's products comprise LIBS Interaction Chamber, LIBS Sci-Trace, LIBS X-Trace, LIBS Application Setup, LIBS Software-AtomAnalyzer, and Digital Delay Generator.

58GF Score

Get the complete analysis for XPRA:ATOMT

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

Kč7.00

Price

Kč31.26

GF Value

View XPRA:ATOMT Analysis

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