SoftwareONE Holding AG (XSWX:SWON) Beneish M-Score: -2.12 (As of Jun. 24, 2026)


XSWX:SWON SoftwareONE Holding AG XSWX:SWON
73 GF Score
Price CHF7.82
GF Value CHF15.31
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is SoftwareONE Holding AG Beneish M-Score?

SoftwareONE Holding AG XSWX:SWON -1.70% 73 Beneish M-Score is -2.12 as of Jun. 24, 2026. GuruFocus rates XSWX:SWON with a GF Score™ of 73/100 and a GF Value™ of CHF15.31 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 2,633 Software companies, SoftwareONE Holding AG ranks worse than 72.2% 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 -2.12 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XSWX:SWON' s Beneish M-Score Range Over the Past 10 Years
Min: -2.66   Med: -2.46   Max: 1.89
Current: -2.12

During the past 10 years, the highest Beneish M-Score of SoftwareONE Holding AG was 1.89. The lowest was -2.66. And the median was -2.46.

SoftwareONE Holding AG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for SoftwareONE 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.

SoftwareONE Holding AG Beneish M-Score Chart

SoftwareONE Holding AG Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.54 -2.62 -2.53 -2.38 -2.12

SoftwareONE Holding AG Semi-Annual Data
Dec16 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 -2.53 0.00 -2.38 0.00 -2.12

XSWX:SWON vs CRM, SHOP, UBER: Beneish M-Score Comparison

For the Software - Application subindustry, SoftwareONE 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.

SoftwareONE Holding AG Beneish M-Score vs Software Industry

For the Software industry and Technology sector, SoftwareONE Holding AG's Beneish M-Score distribution charts can be found below:

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


XSWX:SWON
73GF Score
SoftwareONE Holding AG XSWX:SWON
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SoftwareONE 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 SoftwareONE 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 * 1.0777+0.528 * 0.9759+0.404 * 1.5366+0.892 * 1.2245+0.115 * 1.0342
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8564+4.679 * -0.03943-0.327 * 0.8756
=-2.12

* 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 CHF3,704 Mil.
Revenue was CHF1,243 Mil.
Gross Profit was CHF553 Mil.
Total Current Assets was CHF4,211 Mil.
Total Assets was CHF6,789 Mil.
Property, Plant and Equipment(Net PPE) was CHF104 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF106 Mil.
Selling, General, & Admin. Expense(SGA) was CHF88 Mil.
Total Current Liabilities was CHF4,648 Mil.
Long-Term Debt & Capital Lease Obligation was CHF52 Mil.
Net Income was CHF1 Mil.
Gross Profit was CHF0 Mil.
Cash Flow from Operations was CHF269 Mil.
 Total Receivables was CHF2,807 Mil.
Revenue was CHF1,015 Mil.
Gross Profit was CHF441 Mil.
Total Current Assets was CHF3,219 Mil.
Total Assets was CHF4,307 Mil.
Property, Plant and Equipment(Net PPE) was CHF67 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF73 Mil.
Selling, General, & Admin. Expense(SGA) was CHF84 Mil.
Total Current Liabilities was CHF3,384 Mil.
Long-Term Debt & Capital Lease Obligation was CHF21 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)
=(3704.2 / 1243.4) / (2806.8 / 1015.4)
=2.97909 / 2.764231
=1.0777

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)
=(440.8 / 1015.4) / (553.1 / 1243.4)
=0.434115 / 0.444829
=0.9759

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 - (4211.4 + 103.8) / 6789.3) / (1 - (3218.9 + 66.5) / 4306.8)
=0.364412 / 0.23716
=1.5366

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
=1243.4 / 1015.4
=1.2245

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))
=(72.7 / (72.7 + 66.5)) / (105.9 / (105.9 + 103.8))
=0.52227 / 0.505007
=1.0342

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)
=(88.2 / 1243.4) / (84.1 / 1015.4)
=0.070935 / 0.082825
=0.8564

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)
=((52.2 + 4648) / 6789.3) / ((21.3 + 3383.9) / 4306.8)
=0.692295 / 0.790657
=0.8756

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
=(0.9 - 0 - 268.6) / 6789.3
=-0.03943

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.

SoftwareONE Holding AG has a M-score of -2.12 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 -2.12 mean?
SoftwareONE Holding AG (XSWX:SWON) has a Beneish M-Score of -2.12 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SoftwareONE Holding AG and its competitors. According to the industry distribution chart, SoftwareONE Holding AG ranks #1901 out of 2633 companies in the Software industry, placing it in the top 72.2%.
Is SoftwareONE Holding AG's Beneish M-Score too high?
SoftwareONE Holding AG's current Beneish M-Score is -2.12. Based on the distribution chart, SoftwareONE Holding AG ranks #1901 out of 2633 companies in the Software industry, which is below the industry midpoint. Overall, SoftwareONE Holding AG has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does SoftwareONE Holding AG's Beneish M-Score compare to CRM and SHOP?
According to the Software industry distribution chart, SoftwareONE Holding AG ranks #1901 out of 2633 companies for Beneish M-Score. This places SoftwareONE Holding AG in the lower 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 Software company?
A good Beneish M-Score depends on the Software 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 SoftwareONE Holding AG and its competitors. SoftwareONE Holding AG's current Beneish M-Score is -2.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SoftwareONE Holding AG stock overvalued right now?
Based on GuruFocus' analysis, SoftwareONE Holding AG (XSWX:SWON) is currently considered Possible Value Trap. The stock's GF Value™ is CHF15.31, compared to a current price of CHF7.82 — trading 48.9% below its estimated fair value. The current Beneish M-Score is -2.12. SoftwareONE Holding AG's overall GF Score™ is 73/100 with 6 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 SoftwareONE Holding AG (XSWX:SWON), the current Beneish M-Score is -2.12 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.

Is SoftwareONE Holding AG (XSWX:SWON) Overvalued in 2026?

Based on GuruFocus' analysis, SoftwareONE Holding AG stock appears to be undervalued. The current stock price of CHF7.82 is trading 48.9% below its estimated GF Value™ of CHF15.31. GuruFocus considers SoftwareONE Holding AG to be Possible Value Trap.

Key valuation signals for XSWX:SWON:

  • Beneish M-Score: -2.12
  • GF Value™: CHF15.31 vs. price of CHF7.82 (48.9% below fair value)
  • GF Score™: 73/100 with 6 warning signs

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

SoftwareONE Holding AG Business Description

Address Riedenmatt 4, Stans, CHE, CH-6370
SoftwareONE Holding AG is engaged in providing cloud technology solutions. It generates its revenue from Software and Cloud Marketplace by arranging software license agreements between software providers and end customers and managing cloud subscriptions for them (point in time). Revenue from Software and Cloud Services is generated by providing services to customers (over time), the sale of on-premise software only used to provide software asset management solutions and the resale or sale of self-developed on-premise software. DACH, rEMEA, NORAM, LATAM and APAC are the geographical segments of the company. It derives maximum revenue from DACH (Germany, Austria and Switzerland) segment.
73GF Score

Get the complete analysis for XSWX:SWON

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

CHF7.82
Price
CHF15.31
GF Value