Beneish M-score
An eight-component statistical screen for earnings-manipulation risk based on year-over-year distortions in receivables, margins, accruals and asset quality.
Formula
Weighted sum of DSRI, GMI, AQI, SGI, DEPI, SGAI, LVGI and TATA indices
Served as: annual · derived. Annual and quarterly observations are never mixed unlabeled.
Where the inputs come from
- Computed server-side from consecutive annual filings
Listed highest priority first. Every served figure carries its filing, fiscal period and accession; open any value on the financials page to see them.
How to compare it honestly
Read against the published screening threshold; a flag is a prompt to read the filings, not a finding of manipulation.
When it is not served
Requires two consecutive annual filings with the component concepts; sector misfit for financials is labeled.
Missing data is missing evidence: it is never shown as zero and never treated as a conclusion.
What it cannot tell you
Legitimate business changes (acquisitions, mix shifts) can move the indices without any manipulation.
Questions worth asking next
- Which component indices drove the score?
- Do the notes to the filings explain the receivables or accrual changes?
Research prompts, not recommendations.
See it computed from filings
Related in earnings quality and risk screens: Altman Z'' · Piotroski F-score · Sloan accruals · Cash-flow backing of earnings · Receivables vs revenue · Inventory vs revenue
Definitions are descriptive and educational. Nothing here is a guaranteed signal or personalized investment advice. How the platform computes and cites every figure.