dorma+kaba Holding AG (XSWX:KABNE) Beneish M-Score: -2.95 (As of Jun. 27, 2026)


What is dorma+kaba Holding AG Beneish M-Score?

dorma+kaba Holding AG XSWX:KABNE 66 Beneish M-Score is -2.95 as of Jun. 27, 2026. GuruFocus rates XSWX:KABNE with a GF Score™ of 66/100. The stock has 5 warning signs investors should review. Among 1,704 Construction companies, dorma+kaba Holding AG ranks better than 79.93% 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 -2.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XSWX:KABNE' s Beneish M-Score Range Over the Past 10 Years
Min: -3.32   Med: -2.91   Max: -1.83
Current: -2.95

During the past 13 years, the highest Beneish M-Score of dorma+kaba Holding AG was -1.83. The lowest was -3.32. And the median was -2.91.

dorma+kaba Holding AG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for dorma+kaba Holding 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.

dorma+kaba Holding AG Beneish M-Score Chart

dorma+kaba Holding AG Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.92 -2.46 -3.09 -3.08 -2.95

dorma+kaba Holding AG Semi-Annual Data
Jun16 Dec16 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 -3.08 0.00 -2.95 0.00

XSWX:KABNE vs TT, JCI, CARR: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, dorma+kaba Holding 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.

dorma+kaba Holding AG Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, dorma+kaba Holding AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where dorma+kaba Holding AG's Beneish M-Score falls into.


dorma+kaba Holding 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 dorma+kaba Holding 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 * 0.9395+0.528 * 0.9826+0.404 * 0.7897+0.892 * 1.0116+0.115 * 1.1539
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9272+4.679 * -0.076615-0.327 * 1.0132
=-2.95

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was CHF469.30 Mil.
Revenue was CHF2,870.10 Mil.
Gross Profit was CHF1,175.40 Mil.
Total Current Assets was CHF1,479.90 Mil.
Total Assets was CHF2,174.50 Mil.
Property, Plant and Equipment(Net PPE) was CHF392.50 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF103.60 Mil.
Selling, General, & Admin. Expense(SGA) was CHF759.00 Mil.
Total Current Liabilities was CHF1,011.60 Mil.
Long-Term Debt & Capital Lease Obligation was CHF477.50 Mil.
Net Income was CHF97.90 Mil.
Gross Profit was CHF0.00 Mil.
Cash Flow from Operations was CHF264.50 Mil.
 Total Receivables was CHF493.80 Mil.
Revenue was CHF2,837.10 Mil.
Gross Profit was CHF1,141.70 Mil.
Total Current Assets was CHF1,216.20 Mil.
Total Assets was CHF1,965.50 Mil.
Property, Plant and Equipment(Net PPE) was CHF403.50 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF128.10 Mil.
Selling, General, & Admin. Expense(SGA) was CHF809.20 Mil.
Total Current Liabilities was CHF729.50 Mil.
Long-Term Debt & Capital Lease Obligation was CHF598.90 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)
=(469.3 / 2870.1) / (493.8 / 2837.1)
=0.163513 / 0.174051
=0.9395

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)
=(1141.7 / 2837.1) / (1175.4 / 2870.1)
=0.402418 / 0.409533
=0.9826

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 - (1479.9 + 392.5) / 2174.5) / (1 - (1216.2 + 403.5) / 1965.5)
=0.138928 / 0.175935
=0.7897

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
=2870.1 / 2837.1
=1.0116

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))
=(128.1 / (128.1 + 403.5)) / (103.6 / (103.6 + 392.5))
=0.240971 / 0.208829
=1.1539

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)
=(759 / 2870.1) / (809.2 / 2837.1)
=0.264451 / 0.285221
=0.9272

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)
=((477.5 + 1011.6) / 2174.5) / ((598.9 + 729.5) / 1965.5)
=0.684801 / 0.675859
=1.0132

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
=(97.9 - 0 - 264.5) / 2174.5
=-0.076615

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.

dorma+kaba Holding AG has a M-score of -2.95 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 -2.95 mean?
dorma+kaba Holding AG (XSWX:KABNE) has a Beneish M-Score of -2.95 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on dorma+kaba Holding AG and its competitors. According to the industry distribution chart, dorma+kaba Holding AG ranks #342 out of 1704 companies in the Construction industry, placing it in the top 20.1%.
Is dorma+kaba Holding AG's Beneish M-Score too high?
dorma+kaba Holding AG's current Beneish M-Score is -2.95. Based on the distribution chart, dorma+kaba Holding AG ranks #342 out of 1704 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, dorma+kaba Holding AG has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does dorma+kaba Holding AG's Beneish M-Score compare to TT and JCI?
According to the Construction industry distribution chart, dorma+kaba Holding AG ranks #342 out of 1704 companies for Beneish M-Score. This places dorma+kaba Holding AG in the top 20% of its industry — outperforming the majority of peers. 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 Construction company?
A good Beneish M-Score depends on the Construction 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 dorma+kaba Holding AG and its competitors. dorma+kaba Holding AG's current Beneish M-Score is -2.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is dorma+kaba Holding AG stock overvalued right now?
dorma+kaba Holding AG (XSWX:KABNE) has a current Beneish M-Score of -2.95. The current Beneish M-Score is -2.95. dorma+kaba Holding AG's overall GF Score™ is 66/100 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 dorma+kaba Holding AG (XSWX:KABNE), the current Beneish M-Score is -2.95 as of Jun. 27, 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.

dorma+kaba Holding AG Business Description

Address Hofwisenstrasse 24, Rumlang, CHE, 8153
dorma+kaba Holding AG is a security group that provides smart and secure access solutions and systems in the security industry. The group offers products such as Door Hardware, Entrance Systems, Electronic Access & Data, Mechanical Key Systems, Lodging Systems, Safe Locks, Movable Walls, Key Systems, and dormakaba digital. Its Services are Maintenance, Emergency Callout & Repair, Genuine Spare Parts, Modernization & Upgrades, Installation, Training & Webinars, Consulting, and Digital Services. The company has two operating segments: Access Solutions and Key & Wall Solutions and OEM. It generates the majority of its revenue from the Access Solutions segment.