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 -2.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for CPH Group AG's Beneish M-Score or its related term are showing as below:
XSWX:CPHN'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.54 Med: -2.61 Max: -2.09
Current: -2.59
During the past 13 years, the highest Beneish M-Score of CPH Group AG was -2.09. The lowest was -3.54. And the median was -2.61.
CPH Group AG Beneish M-Score Related Terms
CPH Group AG Beneish M-Score Historical Data
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The historical data trend for CPH Group 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.
For the Paper & Paper Products subindustry, CPH Group 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.
CPH Group AG Beneish M-Score vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, CPH Group AG's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CPH Group AG'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 CPH Group AG 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 * 1.4909
+
0.528 * 0.759
+
0.404 * 0.9806
+
0.892 * 0.7459
+
0.115 * 1.2167
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1
+
4.679 * -0.029035
-
0.327 * 1.2641
=
-2.59
* 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))
=
(18.224 / (18.224 + 128.814))
/
(17.502 / (17.502 + 154.31))
=
0.123941
/
0.101867
=
1.2167
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
=
(23.36 - 0
-
34.07)
/
368.863
=
-0.029035
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.
CPH Group AG has a M-score of -2.59 suggests that the company is unlikely to be a manipulator.
CPH Group AG (XSWX:CPHN) has a Beneish M-Score of -2.59 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CPH Group AG and its competitors. According to the industry distribution chart, CPH Group AG ranks #123 out of 273 companies in the Forest Products industry, placing it in the top 45.1%.
Is CPH Group AG's Beneish M-Score too high?
CPH Group AG's current Beneish M-Score is -2.59. Based on the distribution chart, CPH Group AG ranks #123 out of 273 companies in the Forest Products industry, which is above the industry midpoint. Overall, CPH Group AG has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CPH Group AG's Beneish M-Score compare to SLVM?
According to the Forest Products industry distribution chart, CPH Group AG ranks #123 out of 273 companies for Beneish M-Score. This puts CPH Group 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 Forest Products company?
A good Beneish M-Score depends on the Forest Products 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 CPH Group AG and its competitors. CPH Group AG's current Beneish M-Score is -2.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CPH Group AG stock overvalued right now?
Based on GuruFocus' analysis, CPH Group AG (XSWX:CPHN) is currently considered Modestly Overvalued. The stock's GF Value™ is CHF45.13, compared to a current price of CHF55.60 — trading 23.2% above its estimated fair value. The current Beneish M-Score is -2.59. CPH Group AG's overall GF Score™ is 61/100 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 CPH Group AG (XSWX:CPHN), the current Beneish M-Score is -2.59 as of Jun. 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 CPH Group AG (XSWX:CPHN) Overvalued in 2026?
Based on GuruFocus' analysis, CPH Group AG stock appears to be overvalued.
The current stock price of CHF55.60 is trading 23.2% above its estimated GF Value™ of CHF45.13.
GuruFocus considers CPH Group AG to be Modestly Overvalued.
Key valuation signals for XSWX:CPHN:
Beneish M-Score: -2.59
GF Value™: CHF45.13 vs. price of CHF55.60 (23.2% above fair value)
No single metric tells the full story. See the XSWX:CPHN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CPH Group AG manufactures chemicals, paper, and pharmaceutical packaging films. The business activity of the group is broken down into two divisions, namely Zeochem (chemistry) and Perlen Packaging (packaging). The Zeochem develops, manufactures and supplies a wide range of first-class products in growth markets. These include high-quality molecular sieves for purifying natural gas and ethanol as well as lithium-based oxygen concentration for industrial and medical purposes. Perlen Packaging is the supplier of packaging materials that focuses exclusively on the pharmaceutical industry offering a comprehensive range of pharmaceutical packaging, e.g. films with optimal barrier effect and complementary primary packaging for medications such as vials and containers.
61GF Score
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