Ramlosa shipping AB (publ) (XSAT:RAMSH) Beneish M-Score: -2.66 (As of Jun. 24, 2026)


XSAT:RAMSH Ramlosa shipping AB (publ) XSAT:RAMSH
15 GF Score
Price kr18.90
! 2 Warning Signs
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What is Ramlosa shipping AB (publ) Beneish M-Score?

Ramlosa shipping AB (publ) XSAT:RAMSH +2.16% 15 Beneish M-Score is -2.66 as of Jun. 24, 2026. GuruFocus rates XSAT:RAMSH with a GF Score™ of 15/100. The stock has 2 warning signs investors should review. Among 966 Transportation companies, Ramlosa shipping AB (publ) ranks better than 57.25% 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 -2.66 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Ramlosa shipping AB (publ)'s Beneish M-Score or its related term are showing as below:

XSAT:RAMSH' s Beneish M-Score Range Over the Past 10 Years
Min: -2.66   Med: -2.66   Max: -2.66
Current: -2.66

During the past 3 years, the highest Beneish M-Score of Ramlosa shipping AB (publ) was -2.66. The lowest was -2.66. And the median was -2.66.

Ramlosa shipping AB (publ) Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ramlosa shipping AB (publ)'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.

Ramlosa shipping AB (publ) Beneish M-Score Chart

Ramlosa shipping AB (publ) Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.66

Ramlosa shipping AB (publ) Quarterly Data
Jun23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 -2.66 0.00

Ramlosa shipping AB (publ) Beneish M-Score Competitor Comparison

For the Marine Shipping subindustry, Ramlosa shipping AB (publ)'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.

Ramlosa shipping AB (publ) Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Ramlosa shipping AB (publ)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Ramlosa shipping AB (publ)'s Beneish M-Score falls into.


XSAT:RAMSH
15GF Score
Ramlosa shipping AB (publ) XSAT:RAMSH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Ramlosa shipping AB (publ) 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 Ramlosa shipping AB (publ) 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 * 0.6276+0.528 * 1.452+0.404 * 1.8962+0.892 * 0.7334+0.115 * 0.0947
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.088178-0.327 * 0.0472
=-2.66

* 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 kr1.22 Mil.
Revenue was kr34.67 Mil.
Gross Profit was kr12.53 Mil.
Total Current Assets was kr58.87 Mil.
Total Assets was kr128.60 Mil.
Property, Plant and Equipment(Net PPE) was kr0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was kr4.89 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.00 Mil.
Total Current Liabilities was kr1.70 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.00 Mil.
Net Income was kr4.31 Mil.
Gross Profit was kr0.00 Mil.
Cash Flow from Operations was kr15.65 Mil.
 Total Receivables was kr2.64 Mil.
Revenue was kr47.27 Mil.
Gross Profit was kr24.80 Mil.
Total Current Assets was kr32.92 Mil.
Total Assets was kr160.92 Mil.
Property, Plant and Equipment(Net PPE) was kr81.98 Mil.
Depreciation, Depletion and Amortization(DDA) was kr8.58 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.00 Mil.
Total Current Liabilities was kr6.45 Mil.
Long-Term Debt & Capital Lease Obligation was kr38.58 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)
=(1.217 / 34.667) / (2.644 / 47.267)
=0.035105 / 0.055938
=0.6276

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)
=(24.804 / 47.267) / (12.529 / 34.667)
=0.524764 / 0.36141
=1.452

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 - (58.865 + 0) / 128.603) / (1 - (32.923 + 81.981) / 160.924)
=0.542274 / 0.285974
=1.8962

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
=34.667 / 47.267
=0.7334

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))
=(8.576 / (8.576 + 81.981)) / (4.892 / (4.892 + 0))
=0.094703 / 1
=0.0947

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 / 34.667) / (0 / 47.267)
=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 + 1.697) / 128.603) / ((38.578 + 6.446) / 160.924)
=0.013196 / 0.279784
=0.0472

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
=(4.305 - 0 - 15.645) / 128.603
=-0.088178

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.

Ramlosa shipping AB (publ) has a M-score of -2.66 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 -2.66 mean?
Ramlosa shipping AB (publ) (XSAT:RAMSH) has a Beneish M-Score of -2.66 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ramlosa shipping AB (publ) and its competitors. According to the industry distribution chart, Ramlosa shipping AB (publ) ranks #413 out of 966 companies in the Transportation industry, placing it in the top 42.8%.
Is Ramlosa shipping AB (publ)'s Beneish M-Score too high?
Ramlosa shipping AB (publ)'s current Beneish M-Score is -2.66. Based on the distribution chart, Ramlosa shipping AB (publ) ranks #413 out of 966 companies in the Transportation industry, which is above the industry midpoint. Overall, Ramlosa shipping AB (publ) has a GF Score™ of 15/100, reflecting its overall financial health beyond just this single metric.
How does Ramlosa shipping AB (publ)'s Beneish M-Score compare to competitors?
According to the Transportation industry distribution chart, Ramlosa shipping AB (publ) ranks #413 out of 966 companies for Beneish M-Score. This puts Ramlosa shipping AB (publ) in the upper 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 Transportation company?
A good Beneish M-Score depends on the Transportation 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 Ramlosa shipping AB (publ) and its competitors. Ramlosa shipping AB (publ)'s current Beneish M-Score is -2.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ramlosa shipping AB (publ) stock overvalued right now?
Ramlosa shipping AB (publ) (XSAT:RAMSH) has a current Beneish M-Score of -2.66. The current Beneish M-Score is -2.66. Ramlosa shipping AB (publ)'s overall GF Score™ is 15/100 with 2 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 Ramlosa shipping AB (publ) (XSAT:RAMSH), the current Beneish M-Score is -2.66 as of Jun. 24, 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.

Ramlosa shipping AB (publ) Business Description

Address Norden 61, Helsingborg, SWE, SE-252 79
Ramlosa shipping AB (publ) is a Swedish investment company that invests in international shipping through ownership of shares in ships via ship owning companies. The ships are then rented out through various charter contracts. The main objective is that the expected minimum return should be at least 20 percent per year on invested capital.
15GF Score

Get the complete analysis for XSAT:RAMSH

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

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