AIRS (AirSculpt Technologies) Beneish M-Score: -3.13 (As of Jun. 24, 2026)


AIRS AirSculpt Technologies Inc AIRS
73 GF Score
Price $4.55
GF Value $3.93
Valuation Modestly Overvalued
! 3 Warning Signs
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What is AirSculpt Technologies Beneish M-Score?

AirSculpt Technologies AIRS -1.20% 73 Beneish M-Score is -3.13 as of Jun. 24, 2026. GuruFocus rates AIRS with a GF Score™ of 73/100 and a GF Value™ of $3.93 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 632 Healthcare Providers & Services companies, AirSculpt Technologies ranks better than 82.28% 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 -3.13 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

AIRS' s Beneish M-Score Range Over the Past 10 Years
Min: -3.72   Med: -3.14   Max: 19.37
Current: -3.13

During the past 7 years, the highest Beneish M-Score of AirSculpt Technologies was 19.37. The lowest was -3.72. And the median was -3.14.


AirSculpt Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for AirSculpt Technologies'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.

AirSculpt Technologies Beneish M-Score Chart

AirSculpt Technologies Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 -3.15 -3.33 -2.37 -3.15

AirSculpt Technologies Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 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 19.37 -3.51 -3.72 -3.15 -3.13

AIRS vs CYH, CCRN, AUNA: Beneish M-Score Comparison

For the Medical Care Facilities subindustry, AirSculpt Technologies'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.


AirSculpt Technologies Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, AirSculpt Technologies's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where AirSculpt Technologies's Beneish M-Score falls into.


AIRS
73GF Score
AirSculpt Technologies Inc AIRS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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AirSculpt Technologies 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 AirSculpt Technologies 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 * 0.6651+0.528 * 1.0044+0.404 * 0.9881+0.892 * 0.8822+0.115 * 0.8235
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8968+4.679 * -0.063162-0.327 * 0.8091
=-3.13

* 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 $2.0 Mil.
Revenue was 39.389 + 33.442 + 34.993 + 44.012 = $151.8 Mil.
Gross Profit was 23.801 + 19.767 + 20.129 + 26.811 = $90.5 Mil.
Total Current Assets was $24.3 Mil.
Total Assets was $192.0 Mil.
Property, Plant and Equipment(Net PPE) was $47.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $12.6 Mil.
Selling, General, & Admin. Expense(SGA) was $83.0 Mil.
Total Current Liabilities was $32.5 Mil.
Long-Term Debt & Capital Lease Obligation was $58.4 Mil.
Net Income was -2.397 + 1.283 + -9.512 + -0.591 = $-11.2 Mil.
Non Operating Income was 0.138 + 0.518 + -7.137 + -0.108 = $-6.6 Mil.
Cash Flow from Operations was 5.271 + -2.531 + -0.225 + 4.984 = $7.5 Mil.
Total Receivables was $3.4 Mil.
Revenue was 39.371 + 39.178 + 42.548 + 51.004 = $172.1 Mil.
Gross Profit was 23.421 + 22.664 + 24.782 + 32.177 = $103.0 Mil.
Total Current Assets was $15.3 Mil.
Total Assets was $203.3 Mil.
Property, Plant and Equipment(Net PPE) was $59.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $12.3 Mil.
Selling, General, & Admin. Expense(SGA) was $104.9 Mil.
Total Current Liabilities was $26.8 Mil.
Long-Term Debt & Capital Lease Obligation was $92.1 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)
=(1.974 / 151.836) / (3.364 / 172.101)
=0.013001 / 0.019547
=0.6651

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)
=(103.044 / 172.101) / (90.508 / 151.836)
=0.598741 / 0.596091
=1.0044

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 - (24.33 + 47.261) / 191.999) / (1 - (15.298 + 58.961) / 203.26)
=0.627128 / 0.63466
=0.9881

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
=151.836 / 172.101
=0.8822

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))
=(12.325 / (12.325 + 58.961)) / (12.56 / (12.56 + 47.261))
=0.172895 / 0.20996
=0.8235

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)
=(82.994 / 151.836) / (104.892 / 172.101)
=0.546603 / 0.609479
=0.8968

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)
=((58.379 + 32.481) / 191.999) / ((92.096 + 26.788) / 203.26)
=0.473232 / 0.584886
=0.8091

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
=(-11.217 - -6.589 - 7.499) / 191.999
=-0.063162

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.

AirSculpt Technologies has a M-score of -3.13 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 -3.13 mean?
AirSculpt Technologies (AIRS) has a Beneish M-Score of -3.13 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AirSculpt Technologies and its competitors. According to the industry distribution chart, AirSculpt Technologies ranks #112 out of 632 companies in the Healthcare Providers & Services industry, placing it in the top 17.7%.
Is AirSculpt Technologies' Beneish M-Score too high?
AirSculpt Technologies' current Beneish M-Score is -3.13. Based on the distribution chart, AirSculpt Technologies ranks #112 out of 632 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, AirSculpt Technologies has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does AirSculpt Technologies' Beneish M-Score compare to CYH and CCRN?
According to the Healthcare Providers & Services industry distribution chart, AirSculpt Technologies ranks #112 out of 632 companies for Beneish M-Score. This places AirSculpt Technologies in the top 18% 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 Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & Services 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 AirSculpt Technologies and its competitors. AirSculpt Technologies's current Beneish M-Score is -3.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AirSculpt Technologies stock overvalued right now?
Based on GuruFocus' analysis, AirSculpt Technologies (AIRS) is currently considered Modestly Overvalued. The stock's GF Value™ is $3.93, compared to a current price of $4.55 — trading 15.8% above its estimated fair value. The current Beneish M-Score is -3.13. AirSculpt Technologies' overall GF Score™ is 73/100 with 3 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 AirSculpt Technologies (AIRS), the current Beneish M-Score is -3.13 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 AirSculpt Technologies (AIRS) Overvalued in 2026?

Based on GuruFocus' analysis, AirSculpt Technologies stock appears to be overvalued. The current stock price of $4.55 is trading 15.8% above its estimated GF Value™ of $3.93. GuruFocus considers AirSculpt Technologies to be Modestly Overvalued.

Key valuation signals for AIRS:

  • Beneish M-Score: -3.13
  • GF Value™: $3.93 vs. price of $4.55 (15.8% above fair value)
  • GF Score™: 73/100 with 3 warning signs

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


AirSculpt Technologies Business Description

Address 1111 Lincoln Road, Suite 802, Miami Beach, FL, USA, 33139
AirSculpt Technologies Inc is a next-generation body contouring treatment designed to optimize both comfort and precision, available exclusively at AirSculpt offices. The minimally invasive procedure removes fat and tightens skin while sculpting targeted areas of the body, allowing for quick healing with minimal bruising, tighter skin, and precise results. Its proprietary and patented AirSculpt method is minimally invasive because it requires no needle, no scalpel, no stitches, and no general anesthesia. It offers fat removal procedures across treatment areas and fat transfer procedures that use the patient's own fat cells to enhance the breasts, buttocks, hips or other areas and do not require silicone or foreign materials to be implanted. Its segment is direct medical procedure services.
73GF Score

Get the complete analysis for AIRS

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

$4.55
Price
$3.93
GF Value