ABIT (Athena Bitcoin Global) Beneish M-Score: -4.28 (As of Jun. 30, 2026)


What is Athena Bitcoin Global Beneish M-Score?

Athena Bitcoin Global ABIT +9.62% Beneish M-Score is -4.28 as of Jun. 30, 2026. The stock has 2 warning signs investors should review. Among 704 Capital Markets companies, Athena Bitcoin Global ranks better than 94.03% 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 -4.28 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Athena Bitcoin Global's Beneish M-Score or its related term are showing as below:

ABIT' s Beneish M-Score Range Over the Past 10 Years
Min: -4.28   Med: -2.56   Max: -0.84
Current: -4.28

During the past 13 years, the highest Beneish M-Score of Athena Bitcoin Global was -0.84. The lowest was -4.28. And the median was -2.56.

Athena Bitcoin Global Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Athena Bitcoin Global'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.

Athena Bitcoin Global Beneish M-Score Chart

Athena Bitcoin Global Annual Data
Trend Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 -0.84

Athena Bitcoin Global Quarterly Data
Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.00 0.00 -0.84 -4.28

ABIT vs MGTI, CBLO, FDCT: Beneish M-Score Comparison

For the Capital Markets subindustry, Athena Bitcoin Global'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.

Athena Bitcoin Global Beneish M-Score vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Athena Bitcoin Global's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Athena Bitcoin Global's Beneish M-Score falls into.


Athena Bitcoin Global 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 Athena Bitcoin Global 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 * 0.1772+0.528 * 1.2504+0.404 * 0.9835+0.892 * 0.72+0.115 * 0.5393
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.7286+4.679 * -0.152137-0.327 * 1.0954
=-4.28

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $0.2 Mil.
Revenue was 37.183 + 41.745 + 57.414 + 62.809 = $199.2 Mil.
Gross Profit was 2.177 + 1.716 + 7.209 + 7.782 = $18.9 Mil.
Total Current Assets was $19.1 Mil.
Total Assets was $58.1 Mil.
Property, Plant and Equipment(Net PPE) was $35.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $9.9 Mil.
Selling, General, & Admin. Expense(SGA) was $16.3 Mil.
Total Current Liabilities was $25.7 Mil.
Long-Term Debt & Capital Lease Obligation was $17.3 Mil.
Net Income was -0.467 + -7.589 + -2.451 + 1.382 = $-9.1 Mil.
Non Operating Income was -0.123 + -3.835 + -5.751 + -0.355 = $-10.1 Mil.
Cash Flow from Operations was 1.36 + 4.938 + 2.37 + 1.112 = $9.8 Mil.
 Total Receivables was $1.5 Mil.
Revenue was 72.629 + 63.654 + 69.406 + 70.907 = $276.6 Mil.
Gross Profit was 8.131 + 6.371 + 8.084 + 10.21 = $32.8 Mil.
Total Current Assets was $24.1 Mil.
Total Assets was $75.8 Mil.
Property, Plant and Equipment(Net PPE) was $46.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $6.3 Mil.
Selling, General, & Admin. Expense(SGA) was $13.1 Mil.
Total Current Liabilities was $27.4 Mil.
Long-Term Debt & Capital Lease Obligation was $23.7 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)
=(0.195 / 199.151) / (1.528 / 276.596)
=0.000979 / 0.005524
=0.1772

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)
=(32.796 / 276.596) / (18.884 / 199.151)
=0.11857 / 0.094823
=1.2504

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 - (19.139 + 35.221) / 58.112) / (1 - (24.126 + 46.678) / 75.779)
=0.064565 / 0.065651
=0.9835

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
=199.151 / 276.596
=0.72

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))
=(6.269 / (6.269 + 46.678)) / (9.907 / (9.907 + 35.221))
=0.118401 / 0.219531
=0.5393

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)
=(16.317 / 199.151) / (13.11 / 276.596)
=0.081933 / 0.047398
=1.7286

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)
=((17.301 + 25.652) / 58.112) / ((23.717 + 27.416) / 75.779)
=0.739142 / 0.674765
=1.0954

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
=(-9.125 - -10.064 - 9.78) / 58.112
=-0.152137

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.

Athena Bitcoin Global has a M-score of -4.28 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 -4.28 mean?
Athena Bitcoin Global (ABIT) has a Beneish M-Score of -4.28 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Athena Bitcoin Global and its competitors. According to the industry distribution chart, Athena Bitcoin Global ranks #42 out of 704 companies in the Capital Markets industry, placing it in the top 6%.
Is Athena Bitcoin Global's Beneish M-Score too high?
Athena Bitcoin Global's current Beneish M-Score is -4.28. Based on the distribution chart, Athena Bitcoin Global ranks #42 out of 704 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers.
How does Athena Bitcoin Global's Beneish M-Score compare to MGTI and CBLO?
According to the Capital Markets industry distribution chart, Athena Bitcoin Global ranks #42 out of 704 companies for Beneish M-Score. This places Athena Bitcoin Global in the top 6% 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 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 Athena Bitcoin Global and its competitors. Athena Bitcoin Global's current Beneish M-Score is -4.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Athena Bitcoin Global stock overvalued right now?
Athena Bitcoin Global (ABIT) has a current Beneish M-Score of -4.28. The current Beneish M-Score is -4.28. 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 Athena Bitcoin Global (ABIT), the current Beneish M-Score is -4.28 as of Jun. 30, 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.

Athena Bitcoin Global Business Description

Address 1 South East 3rd Avenue, Suite 2740, Miami, FL, USA, 33131
Athena Bitcoin Global is a provider of various crypto asset transaction platforms, including the operation of kiosks and personalized services (Athena Plus) for the purpose of selling and buying crypto assets, white-label operations, and payment services. The company's network of Athena Bitcoin ATMs operates in thirty-three states and the territory of Puerto Rico in the United States, and four countries in Central and South America. The company places its machines in convenience stores, shopping centers, and other easily accessible locations. The company deals exclusively in Bitcoin in its ATMs.