APTY (APT Systems) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


What is APT Systems Beneish M-Score?

APT Systems APTY Beneish M-Score is 0.00 as of Jun. 26, 2026.

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.

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

During the past 7 years, the highest Beneish M-Score of APT Systems was 0.00. The lowest was 0.00. And the median was 0.00.

APT Systems Beneish M-Score Historical Data

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The historical data trend for APT Systems'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.

APT Systems Beneish M-Score Chart

APT Systems Annual Data
Trend Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 -72.70 -14.82 -36.77

APT Systems Quarterly Data
Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18
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 -45.12 -36.77 -31.49 -19.37 0.00

APTY vs CLIS, AVOI, ISGN: Beneish M-Score Comparison

For the Software - Application subindustry, APT Systems'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.

APT Systems Beneish M-Score vs Software Industry

For the Software industry and Technology sector, APT Systems's Beneish M-Score distribution charts can be found below:

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


APT Systems 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 APT Systems 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Oct18) TTM:Last Year (Oct17) TTM:
Total Receivables was $0.00 Mil.
Revenue was 0.001 + 0.007 + 0 + 0 = $0.01 Mil.
Gross Profit was 0.001 + 0.007 + 0 + 0 = $0.01 Mil.
Total Current Assets was $0.09 Mil.
Total Assets was $0.22 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.03 Mil.
Selling, General, & Admin. Expense(SGA) was $0.83 Mil.
Total Current Liabilities was $1.63 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.305 + -0.851 + -0.16 + -0.226 = $-1.54 Mil.
Non Operating Income was 0.019 + -0.429 + -0.011 + 0.063 = $-0.36 Mil.
Cash Flow from Operations was -0.086 + -0.108 + -0.082 + -0.052 = $-0.33 Mil.
 Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.03 Mil.
Total Assets was $0.12 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $-0.04 Mil.
Selling, General, & Admin. Expense(SGA) was $1.15 Mil.
Total Current Liabilities was $0.66 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 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 / 0.008) / (0 / 0)
=0 /
=

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)
=(0 / 0) / (0.008 / 0.008)
= / 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 - (0.087 + 0) / 0.217) / (1 - (0.032 + 0) / 0.12)
=0.599078 / 0.733333
=

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
=0.008 / 0
=

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))
=(-0.041 / (-0.041 + 0)) / (0.031 / (0.031 + 0))
=1 / 1
=

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)
=(0.83 / 0.008) / (1.15 / 0)
=103.75 /
=

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)
=((0 + 1.626) / 0.217) / ((0.026 + 0.659) / 0.12)
=7.493088 / 5.708333
=

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
=(-1.542 - -0.358 - -0.328) / 0.217
=-3.9447

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
APT Systems (APTY) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on APT Systems and its competitors.
Is APT Systems' Beneish M-Score too high?
APT Systems' current Beneish M-Score is 0.00.
How does APT Systems' Beneish M-Score compare to CLIS and AVOI?
APT Systems' Beneish M-Score of 0.00 can be compared against companies in the Software 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 Software company?
A good Beneish M-Score depends on the Software 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 APT Systems and its competitors. APT Systems's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is APT Systems stock overvalued right now?
APT Systems (APTY) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 APT Systems (APTY), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

APT Systems Business Description

Address 505 Montgomery Street, 11th Floor, San Francisco, CA, USA, 94111
APT Systems Inc operates as a Fintech company to engage in the creation of financial platforms and financial apps, and imagines new visual solutions for charting the financial markets. It is focused on building a financial ecosystem around the Verifundr escrow system, which is a payment distribution platform that can include smart contracts and a subscription trading service that is backed by a true stablecoin named Spera (SPRA). The company is also developing credentials for verifying and reporting on an accredited investor's status.