Tecan Group AG (XSWX:TECN) Beneish M-Score: -3.39 (As of Jul. 07, 2026)

What is Tecan Group AG Beneish M-Score?

Tecan Group AG XSWX:TECN -0.57% 70 Beneish M-Score is -3.39 as of Jul. 07, 2026. GuruFocus rates XSWX:TECN with a GF Score™ of 70/100 and a GF Value™ of CHF244.34 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 764 Medical Devices & Instruments companies, Tecan Group AG ranks better than 87.04% 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 -3.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XSWX:TECN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.39 Med: -2.53 Max: -1.75
Current: -3.39

During the past 13 years, the highest Beneish M-Score of Tecan Group AG was -1.75. The lowest was -3.39. And the median was -2.53.

Tecan Group AG Beneish M-Score Related Terms

Tecan Group AG Beneish M-Score Historical Data

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The historical data trend for Tecan 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.

Tecan Group AG Beneish M-Score Chart

Tecan Group AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-1.75

-2.28

-2.46

-2.66

-3.39

Tecan Group 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															-2.46	0.00	-2.66	0.00	-3.39

XSWX:TECN vs ISRG, BDX, MDLN: Beneish M-Score Comparison

For the Medical Instruments & Supplies subindustry, Tecan 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.

Tecan Group AG Beneish M-Score vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Tecan Group AG's Beneish M-Score distribution charts can be found below:

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

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70GF Score

Tecan Group AG XSWX:TECN

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

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Tecan Group 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 Tecan Group 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 * 0.8953

0.528 * 0.9742

0.404 * 0.954

0.892 * 0.9446

0.115 * 0.9912

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1555

4.679 * -0.146417

0.327 * 1.0496

-3.39

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was CHF165.6 Mil.
Revenue was CHF882.5 Mil.
Gross Profit was CHF310.8 Mil.
Total Current Assets was CHF711.7 Mil.
Total Assets was CHF1,698.1 Mil.
Property, Plant and Equipment(Net PPE) was CHF132.8 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF61.0 Mil.
Selling, General, & Admin. Expense(SGA) was CHF200.1 Mil.
Total Current Liabilities was CHF288.8 Mil.
Long-Term Debt & Capital Lease Obligation was CHF207.9 Mil.
Net Income was CHF-110.7 Mil.
Gross Profit was CHF0.0 Mil.
Cash Flow from Operations was CHF138.0 Mil.

Total Receivables was CHF195.8 Mil.
Revenue was CHF934.3 Mil.
Gross Profit was CHF320.6 Mil.
Total Current Assets was CHF856.3 Mil.
Total Assets was CHF2,121.5 Mil.
Property, Plant and Equipment(Net PPE) was CHF147.3 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF66.8 Mil.
Selling, General, & Admin. Expense(SGA) was CHF183.3 Mil.
Total Current Liabilities was CHF531.3 Mil.
Long-Term Debt & Capital Lease Obligation was CHF60.0 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)
	=	(165.558 / 882.48)	/	(195.782 / 934.278)
	=	0.187605	/	0.209554
	=	0.8953

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)
	=	(320.598 / 934.278)	/	(310.84 / 882.48)
	=	0.343151	/	0.352235
	=	0.9742

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 - (711.744 + 132.786) / 1698.089)	/	(1 - (856.306 + 147.328) / 2121.483)
	=	0.502659	/	0.526919
	=	0.954

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
	=	882.48	/	934.278
	=	0.9446

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))
	=	(66.805 / (66.805 + 147.328))	/	(60.993 / (60.993 + 132.786))
	=	0.311979	/	0.314755
	=	0.9912

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)
	=	(200.086 / 882.48)	/	(183.331 / 934.278)
	=	0.226731	/	0.196227
	=	1.1555

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)
	=	((207.928 + 288.754) / 1698.089)	/	((59.952 + 531.252) / 2121.483)
	=	0.292495	/	0.278675
	=	1.0496

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
	=	(-110.653 - 0	-	137.976)	/	1698.089
	=	-0.146417

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.

Tecan Group AG has a M-score of -3.39 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 -3.39 mean?

Tecan Group AG (XSWX:TECN) has a Beneish M-Score of -3.39 as of Jul. 07, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tecan Group AG and its competitors. According to the industry distribution chart, Tecan Group AG ranks #99 out of 764 companies in the Medical Devices & Instruments industry, placing it in the top 13%.

Is Tecan Group AG's Beneish M-Score too high?

Tecan Group AG's current Beneish M-Score is -3.39. Based on the distribution chart, Tecan Group AG ranks #99 out of 764 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Tecan Group AG has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Tecan Group AG's Beneish M-Score compare to ISRG and BDX?

According to the Medical Devices & Instruments industry distribution chart, Tecan Group AG ranks #99 out of 764 companies for Beneish M-Score. This places Tecan Group AG in the top 13% 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 Medical Devices & Instruments company?

A good Beneish M-Score depends on the Medical Devices & Instruments 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 Tecan Group AG and its competitors. Tecan Group AG's current Beneish M-Score is -3.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Tecan Group AG stock overvalued right now?

Based on GuruFocus' analysis, Tecan Group AG (XSWX:TECN) is currently considered Modestly Undervalued. The stock's GF Value™ is CHF244.34, compared to a current price of CHF175.90 — trading 28% below its estimated fair value. The current Beneish M-Score is -3.39. Tecan Group AG's overall GF Score™ is 70/100 with 8 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 Tecan Group AG (XSWX:TECN), the current Beneish M-Score is -3.39 as of Jul. 07, 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 Tecan Group AG (XSWX:TECN) Overvalued in 2026?

Based on GuruFocus' analysis, Tecan Group AG stock appears to be undervalued. The current stock price of CHF175.90 is trading 28% below its estimated GF Value™ of CHF244.34. GuruFocus considers Tecan Group AG to be Modestly Undervalued.

Key valuation signals for XSWX:TECN:

Beneish M-Score: -3.39
GF Value™: CHF244.34 vs. price of CHF175.90 (28% below fair value)
GF Score™: 70/100 with 8 warning signs

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

Tecan Group AG Business Description

Industry Healthcare Medical Devices & Instruments

Comparable Companies XSWX:SKAN XSWX:CLTN XSWX:VBSN XSWX:YPSN ISRG XPAR:EL TSE:7741 BDX XSWX:ALC MDLN RMD WST XSWX:STMN TSE:4543 XPAR:DIM COO SOLV OCSE:COLO B NZSE:FPH ALGN

Other Exchanges TCHBF:USA 1TECN:Italy TECNz:UK 0QLN:UK TECN:Austria

Address Seestrasse 103, Mannedorf, CHE, 8708

Website https://www.tecan.com

Tecan Group AG sells automated laboratory instruments and solutions for the diagnostics and life sciences research markets. The firm operates in two segments; The Life Sciences Business (end-customer business) segment supplies end users with automated workflow solutions directly. These solutions include laboratory instruments, software packages, application know-how, services, consumables, and spare parts, The partnering Business (OEM business) segment develops and manufactures OEM instruments and components that are distributed by partner companies under their names. A majority proportion of Tecan's revenue is generated in the Americas and Europe followed by Asia Specific.

70GF Score

Get the complete analysis for XSWX:TECN

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

CHF175.90

Price

CHF244.34

GF Value

View XSWX:TECN Analysis

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