ASMALLWORLD AG (XSWX:ASWN) Beneish M-Score: -2.68 (As of Jun. 28, 2026)

What is ASMALLWORLD AG Beneish M-Score?

ASMALLWORLD AG XSWX:ASWN 61 Beneish M-Score is -2.68 as of Jun. 28, 2026. GuruFocus rates XSWX:ASWN with a GF Score™ of 61/100 and a GF Value™ of CHF1.21 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 824 Travel & Leisure companies, ASMALLWORLD AG ranks better than 55.1% 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 -2.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XSWX:ASWN' s Beneish M-Score Range Over the Past 10 Years
Min: -4.14 Med: -2.57 Max: -1.2
Current: -2.68

During the past 11 years, the highest Beneish M-Score of ASMALLWORLD AG was -1.20. The lowest was -4.14. And the median was -2.57.

ASMALLWORLD AG Beneish M-Score Related Terms

ASMALLWORLD AG Beneish M-Score Historical Data

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The historical data trend for ASMALLWORLD AG'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.

ASMALLWORLD AG Beneish M-Score Chart

ASMALLWORLD AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-4.14

-1.45

-2.79

-1.20

-2.68

ASMALLWORLD AG Semi-Annual Data
	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial													-2.79	0.00	-1.20	0.00	-2.68

XSWX:ASWN vs BKNG, ABNB, RCL: Beneish M-Score Comparison

For the Travel Services subindustry, ASMALLWORLD AG'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.

ASMALLWORLD AG Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, ASMALLWORLD AG's Beneish M-Score distribution charts can be found below:

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

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61GF Score

ASMALLWORLD AG XSWX:ASWN

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

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ASMALLWORLD AG 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 ASMALLWORLD AG 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 * 1.5863

0.528 * 1.0162

0.404 * 1.2536

0.892 * 0.9137

0.115 * 0.9837

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.2184

4.679 * -0.157043

0.327 * 0.9967

-2.68

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was CHF1.76 Mil.
Revenue was CHF19.07 Mil.
Gross Profit was CHF6.32 Mil.
Total Current Assets was CHF4.43 Mil.
Total Assets was CHF11.31 Mil.
Property, Plant and Equipment(Net PPE) was CHF0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF0.81 Mil.
Selling, General, & Admin. Expense(SGA) was CHF2.57 Mil.
Total Current Liabilities was CHF5.08 Mil.
Long-Term Debt & Capital Lease Obligation was CHF2.40 Mil.
Net Income was CHF-0.22 Mil.
Gross Profit was CHF0.00 Mil.
Cash Flow from Operations was CHF1.55 Mil.

Total Receivables was CHF1.22 Mil.
Revenue was CHF20.87 Mil.
Gross Profit was CHF7.03 Mil.
Total Current Assets was CHF6.13 Mil.
Total Assets was CHF11.93 Mil.
Property, Plant and Equipment(Net PPE) was CHF0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF0.67 Mil.
Selling, General, & Admin. Expense(SGA) was CHF2.31 Mil.
Total Current Liabilities was CHF5.11 Mil.
Long-Term Debt & Capital Lease Obligation was CHF2.80 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)
	=	(1.761 / 19.068)	/	(1.215 / 20.87)
	=	0.092354	/	0.058218
	=	1.5863

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)
	=	(7.027 / 20.87)	/	(6.318 / 19.068)
	=	0.336703	/	0.33134
	=	1.0162

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 - (4.434 + 0.026) / 11.309)	/	(1 - (6.132 + 0.033) / 11.927)
	=	0.605624	/	0.483106
	=	1.2536

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
	=	19.068	/	20.87
	=	0.9137

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))
	=	(0.673 / (0.673 + 0.033))	/	(0.813 / (0.813 + 0.026))
	=	0.953258	/	0.969011
	=	0.9837

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)
	=	(2.567 / 19.068)	/	(2.306 / 20.87)
	=	0.134623	/	0.110494
	=	1.2184

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)
	=	((2.4 + 5.078) / 11.309)	/	((2.8 + 5.113) / 11.927)
	=	0.661243	/	0.663453
	=	0.9967

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
	=	(-0.222 - 0	-	1.554)	/	11.309
	=	-0.157043

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.

ASMALLWORLD AG has a M-score of -2.68 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 -2.68 mean?

ASMALLWORLD AG (XSWX:ASWN) has a Beneish M-Score of -2.68 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ASMALLWORLD AG and its competitors. According to the industry distribution chart, ASMALLWORLD AG ranks #370 out of 824 companies in the Travel & Leisure industry, placing it in the top 44.9%.

Is ASMALLWORLD AG's Beneish M-Score too high?

ASMALLWORLD AG's current Beneish M-Score is -2.68. Based on the distribution chart, ASMALLWORLD AG ranks #370 out of 824 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, ASMALLWORLD AG has a GF Score™ of 61/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does ASMALLWORLD AG's Beneish M-Score compare to BKNG and ABNB?

According to the Travel & Leisure industry distribution chart, ASMALLWORLD AG ranks #370 out of 824 companies for Beneish M-Score. This puts ASMALLWORLD AG 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 Travel & Leisure company?

A good Beneish M-Score depends on the Travel & Leisure 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 ASMALLWORLD AG and its competitors. ASMALLWORLD AG's current Beneish M-Score is -2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is ASMALLWORLD AG stock overvalued right now?

Based on GuruFocus' analysis, ASMALLWORLD AG (XSWX:ASWN) is currently considered Possible Value Trap. The stock's GF Value™ is CHF1.21, compared to a current price of CHF0.61 — trading 50% below its estimated fair value. The current Beneish M-Score is -2.68. ASMALLWORLD AG's overall GF Score™ is 61/100 with 5 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 ASMALLWORLD AG (XSWX:ASWN), the current Beneish M-Score is -2.68 as of Jun. 28, 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 ASMALLWORLD AG (XSWX:ASWN) Overvalued in 2026?

Based on GuruFocus' analysis, ASMALLWORLD AG stock appears to be undervalued. The current stock price of CHF0.61 is trading 50% below its estimated GF Value™ of CHF1.21. GuruFocus considers ASMALLWORLD AG to be Possible Value Trap.

Key valuation signals for XSWX:ASWN:

Beneish M-Score: -2.68
GF Value™: CHF1.21 vs. price of CHF0.61 (50% below fair value)
GF Score™: 61/100 with 5 warning signs

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

ASMALLWORLD AG Business Description

Industry Consumer Cyclical Travel & Leisure

Comparable Companies BKNG ABNB RCL VIK CCL EXPE TCOM NCLH MMYT GBTG TNL XTER:TUI1 BOM:542830 HKSE:00780 LSE:JET2 LIND XMAD:HBX ASX:FLT NSE:TBOTEK TRIP

Other Exchanges 1Q7:Germany

Address Seidengasse 20, Zurich, CHE, 8001

Website https://www.asmallworldag.com

ASMALLWORLD AG operates a digital travel and lifestyle eco-system. The members of the ASMALLWORLD social network connect through its app and website, where the users can book hotels, meet other members, engage in online discussions, receive travel and lifestyle inspiration, and enjoy a wealth of travel privileges. Users also connect during ASMALLWORLD events every year, ranging from casual get-togethers in cities around the world, access to exclusive launches, shows, galas, exhibitions, sporting events, etc. The company has two operating segments: Subscriptions and Services. Maximum revenue is generated from the Subscription segment, which allows members to use one of its services for a predefined period of time (usually a year), for which members will pay a membership fee.

61GF Score

Get the complete analysis for XSWX:ASWN

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

CHF0.61

Price

CHF1.21

GF Value

View XSWX:ASWN Analysis

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