Valartis Group AG (XSWX:VLRT) Beneish M-Score: -1.60 (As of Jun. 25, 2026)


XSWX:VLRT Valartis Group AG XSWX:VLRT
21 GF Score
Price CHF10.70
! 2 Warning Signs
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What is Valartis Group AG Beneish M-Score?

Valartis Group AG XSWX:VLRT +0.94% 21 Beneish M-Score is -1.60 as of Jun. 25, 2026. GuruFocus rates XSWX:VLRT with a GF Score™ of 21/100. The stock has 2 warning signs investors should review. Among 702 Capital Markets companies, Valartis Group AG ranks worse than 67.24% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

Warning Sign:

Beneish M-Score -1.6 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XSWX:VLRT' s Beneish M-Score Range Over the Past 10 Years
Min: -2.34   Med: -1.97   Max: -1.6
Current: -1.6

During the past 13 years, the highest Beneish M-Score of Valartis Group AG was -1.60. The lowest was -2.34. And the median was -1.97.

XSWX:VLRT
21GF Score
Valartis Group AG XSWX:VLRT
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Valartis 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 Valartis 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+0.528 * 1+0.404 * 1.0017+0.892 * 1.0957+0.115 * 0.7426
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7658+4.679 * 0.150549-0.327 * 0.7444
=-1.60

* 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 CHF0.00 Mil.
Revenue was CHF4.61 Mil.
Gross Profit was CHF4.61 Mil.
Total Current Assets was CHF0.00 Mil.
Total Assets was CHF125.16 Mil.
Property, Plant and Equipment(Net PPE) was CHF0.78 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF0.33 Mil.
Selling, General, & Admin. Expense(SGA) was CHF1.84 Mil.
Total Current Liabilities was CHF0.00 Mil.
Long-Term Debt & Capital Lease Obligation was CHF20.38 Mil.
Net Income was CHF7.41 Mil.
Gross Profit was CHF0.00 Mil.
Cash Flow from Operations was CHF-11.43 Mil.
 Total Receivables was CHF0.00 Mil.
Revenue was CHF4.21 Mil.
Gross Profit was CHF4.21 Mil.
Total Current Assets was CHF0.00 Mil.
Total Assets was CHF139.17 Mil.
Property, Plant and Equipment(Net PPE) was CHF1.11 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF0.32 Mil.
Selling, General, & Admin. Expense(SGA) was CHF2.19 Mil.
Total Current Liabilities was CHF0.00 Mil.
Long-Term Debt & Capital Lease Obligation was CHF30.45 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)
=(0 / 4.613) / (0 / 4.21)
=0 / 0
=1

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)
=(4.21 / 4.21) / (4.613 / 4.613)
=1 / 1
=1

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 - (0 + 0.777) / 125.162) / (1 - (0 + 1.105) / 139.17)
=0.993792 / 0.99206
=1.0017

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
=4.613 / 4.21
=1.0957

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))
=(0.315 / (0.315 + 1.105)) / (0.331 / (0.331 + 0.777))
=0.221831 / 0.298736
=0.7426

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)
=(1.836 / 4.613) / (2.188 / 4.21)
=0.398006 / 0.519715
=0.7658

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)
=((20.382 + 0) / 125.162) / ((30.446 + 0) / 139.17)
=0.162845 / 0.218768
=0.7444

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
=(7.41 - 0 - -11.433) / 125.162
=0.150549

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.

Valartis Group AG has a M-score of -1.60 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.60 mean?
Valartis Group AG (XSWX:VLRT) has a Beneish M-Score of -1.60 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Valartis Group AG and its competitors. According to the industry distribution chart, Valartis Group AG ranks #472 out of 702 companies in the Capital Markets industry, placing it in the top 67.2%.
Is Valartis Group AG's Beneish M-Score too high?
Valartis Group AG's current Beneish M-Score is -1.60. Based on the distribution chart, Valartis Group AG ranks #472 out of 702 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Valartis Group AG has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Valartis Group AG's Beneish M-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, Valartis Group AG ranks #472 out of 702 companies for Beneish M-Score. This places Valartis Group 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 Valartis Group AG and its competitors. Valartis Group AG's current Beneish M-Score is -1.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Valartis Group AG stock overvalued right now?
Valartis Group AG (XSWX:VLRT) has a current Beneish M-Score of -1.60. The current Beneish M-Score is -1.60. Valartis Group AG's overall GF Score™ is 21/100 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 Valartis Group AG (XSWX:VLRT), the current Beneish M-Score is -1.60 as of Jun. 25, 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.

Valartis Group AG Business Description

Other Exchanges VLRTz:UK
Address Rue de Romont 29/31, Fribourg, CHE, 1700
Valartis Group AG is a financial group. The business lines of the company comprise the activities of Financial Services, Real Estate Project Management, and Equity Investments. It focuses on the comprehensive management of niche funds and investment activities. The company provides corporate finance advisory services for listed and unlisted medium-sized companies. The Real Estate activities consist of the management of profitable commercial and residential properties with the investment in development projects. Geographically, the Group operates in Switzerland, Europe, and Other regions.
21GF Score

Get the complete analysis for XSWX:VLRT

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

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