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APG SGAXSWX:APGN 73 Beneish M-Score is -2.88 as of Jul. 15, 2026. GuruFocus rates XSWX:APGN with a GF Score™ of 73/100 and a GF Value™ of CHF202.77 (Fairly Valued). The stock has 2 warning signs investors should review. Among 976 Media - Diversified companies, APG SGA ranks better than 70.8% 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 -2.88 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for APG SGA's Beneish M-Score or its related term are showing as below:
XSWX:APGN'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.12 Med: -2.49 Max: -1.96
Current: -2.88
During the past 13 years, the highest Beneish M-Score of APG SGA was -1.96. The lowest was -3.12. And the median was -2.49.
APG SGA Beneish M-Score Related Terms
APG SGA Beneish M-Score Historical Data
* Premium members only.
The historical data trend for APG SGA'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.
XSWX:APGN vs APP, OMC, TTD: Beneish M-Score Comparison
For the Advertising Agencies subindustry, APG SGA'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.
APG SGA Beneish M-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, APG SGA's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where APG SGA's Beneish M-Score falls into.
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 APG SGA 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 * 0.9888
+
0.528 * 1.007
+
0.404 * 1.0001
+
0.892 * 1.0003
+
0.115 * 0.9759
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.079707
-
0.327 * 1.0442
=
-2.88
* 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.
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.
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))
=
(9.645 / (9.645 + 46.846))
/
(9.91 / (9.91 + 46.732))
=
0.170735
/
0.174959
=
0.9759
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
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
=
(27.075 - 0
-
41.532)
/
181.377
=
-0.079707
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.
APG SGA has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.
APG SGA (XSWX:APGN) has a Beneish M-Score of -2.88 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on APG SGA and its competitors. According to the industry distribution chart, APG SGA ranks #285 out of 976 companies in the Media - Diversified industry, placing it in the top 29.2%.
Is APG SGA's Beneish M-Score too high?
APG SGA's current Beneish M-Score is -2.88. Based on the distribution chart, APG SGA ranks #285 out of 976 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, APG SGA has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does APG SGA's Beneish M-Score compare to APP and OMC?
According to the Media - Diversified industry distribution chart, APG SGA ranks #285 out of 976 companies for Beneish M-Score. This puts APG SGA 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 Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 APG SGA and its competitors. APG SGA's current Beneish M-Score is -2.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is APG SGA stock overvalued right now?
Based on GuruFocus' analysis, APG SGA (XSWX:APGN) is currently considered Fairly Valued. The stock's GF Value™ is CHF202.77, compared to a current price of CHF198.00 — trading 2.4% below its estimated fair value. The current Beneish M-Score is -2.88. APG SGA's overall GF Score™ is 73/100 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 APG SGA (XSWX:APGN), the current Beneish M-Score is -2.88 as of Jul. 15, 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 APG SGA (XSWX:APGN) Overvalued in 2026?
Based on GuruFocus' analysis, APG SGA stock appears to be undervalued.
The current stock price of CHF198.00 is trading 2.4% below its estimated GF Value™ of CHF202.77.
GuruFocus considers APG SGA to be Fairly Valued.
Key valuation signals for XSWX:APGN:
Beneish M-Score: -2.88
GF Value™: CHF202.77 vs. price of CHF198.00 (2.4% below fair value)
No single metric tells the full story. See the XSWX:APGN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
APG SGA SA is a Swiss out-of-home advertising media company. As a media company, it transports advertising messages into public and private areas with posters, screens, and related media as promotions and mobile advertising. This media performance is generated in streets, city centers, pedestrian zones, railway stations, shopping centers, airports, tourist resorts, and on the outside and inside of public transport vehicles. The company operates in Switzerland and Serbia. It derives revenue from Advertising and maximum from Switzerland.
73GF Score
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