ARQQW (Arqit Quantum) Beneish M-Score: -2.52 (As of Jun. 27, 2026)


ARQQW Arqit Quantum Inc ARQQW
41 GF Score
Price $0.13
! 3 Warning Signs
View Full Analysis

What is Arqit Quantum Beneish M-Score?

Arqit Quantum ARQQW 41 Beneish M-Score is -2.52 as of Jun. 27, 2026. GuruFocus rates ARQQW with a GF Score™ of 41/100. The stock has 3 warning signs investors should review. Among 2,634 Software companies, Arqit Quantum ranks worse than 51.21% 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 -2.52 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ARQQW' s Beneish M-Score Range Over the Past 10 Years
Min: -6.67   Med: -3.94   Max: 129.85
Current: -2.52

During the past 7 years, the highest Beneish M-Score of Arqit Quantum was 129.85. The lowest was -6.67. And the median was -3.94.

Arqit Quantum Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Arqit Quantum'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.

Arqit Quantum Beneish M-Score Chart

Arqit Quantum Annual Data
Trend Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Beneish M-Score
Get a 7-Day Free Trial 0.00 129.85 -5.35 -6.67 -2.52

Arqit Quantum Semi-Annual Data
Sep19 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 0.00 -6.67 0.00 -2.52 0.00

ARQQW vs RPAY, ATGL, TLS: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Arqit Quantum'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.

Arqit Quantum Beneish M-Score vs Software Industry

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

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


ARQQW
41GF Score
Arqit Quantum Inc ARQQW
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Arqit Quantum 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 Arqit Quantum 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 * 0.3364+0.528 * 1+0.404 * 0.6792+0.892 * 1.8089+0.115 * 1.492
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5665+4.679 * -0.050431-0.327 * 0.7421
=-2.52

* 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was $3.04 Mil.
Revenue was $0.53 Mil.
Gross Profit was $0.53 Mil.
Total Current Assets was $40.02 Mil.
Total Assets was $42.85 Mil.
Property, Plant and Equipment(Net PPE) was $0.72 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.76 Mil.
Selling, General, & Admin. Expense(SGA) was $34.94 Mil.
Total Current Liabilities was $14.90 Mil.
Long-Term Debt & Capital Lease Obligation was $0.45 Mil.
Net Income was $-35.34 Mil.
Gross Profit was $-3.63 Mil.
Cash Flow from Operations was $-29.55 Mil.
 Total Receivables was $5.00 Mil.
Revenue was $0.29 Mil.
Gross Profit was $0.29 Mil.
Total Current Assets was $23.70 Mil.
Total Assets was $26.72 Mil.
Property, Plant and Equipment(Net PPE) was $1.08 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.53 Mil.
Selling, General, & Admin. Expense(SGA) was $34.10 Mil.
Total Current Liabilities was $12.20 Mil.
Long-Term Debt & Capital Lease Obligation was $0.70 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)
=(3.041 / 0.53) / (4.997 / 0.293)
=5.737736 / 17.054608
=0.3364

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)
=(0.293 / 0.293) / (0.53 / 0.53)
=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 - (40.019 + 0.72) / 42.851) / (1 - (23.702 + 1.078) / 26.719)
=0.049287 / 0.07257
=0.6792

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
=0.53 / 0.293
=1.8089

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))
=(3.532 / (3.532 + 1.078)) / (0.76 / (0.76 + 0.72))
=0.766161 / 0.513514
=1.492

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)
=(34.941 / 0.53) / (34.099 / 0.293)
=65.926415 / 116.37884
=0.5665

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)
=((0.454 + 14.9) / 42.851) / ((0.704 + 12.197) / 26.719)
=0.358311 / 0.48284
=0.7421

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
=(-35.343 - -3.629 - -29.553) / 42.851
=-0.050431

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.

Arqit Quantum has a M-score of -2.52 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 -2.52 mean?
Arqit Quantum (ARQQW) has a Beneish M-Score of -2.52 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Arqit Quantum and its competitors. According to the industry distribution chart, Arqit Quantum ranks #1349 out of 2634 companies in the Software industry, placing it in the top 51.2%.
Is Arqit Quantum's Beneish M-Score too high?
Arqit Quantum's current Beneish M-Score is -2.52. Based on the distribution chart, Arqit Quantum ranks #1349 out of 2634 companies in the Software industry, which is below the industry midpoint. Overall, Arqit Quantum has a GF Score™ of 41/100, reflecting its overall financial health beyond just this single metric.
How does Arqit Quantum's Beneish M-Score compare to RPAY and ATGL?
According to the Software industry distribution chart, Arqit Quantum ranks #1349 out of 2634 companies for Beneish M-Score. This places Arqit Quantum 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 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 Arqit Quantum and its competitors. Arqit Quantum's current Beneish M-Score is -2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arqit Quantum stock overvalued right now?
Arqit Quantum (ARQQW) has a current Beneish M-Score of -2.52. The current Beneish M-Score is -2.52. Arqit Quantum's overall GF Score™ is 41/100 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 Arqit Quantum (ARQQW), the current Beneish M-Score is -2.52 as of Jun. 27, 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.

Arqit Quantum Business Description

Other Exchanges ARQQ:USA3D6:Germany
Address 3 Orchard Place, London, GBR, SW1H 0BF
Arqit Quantum Inc is a cybersecurity company that has pioneered a symmetric key agreement technology that makes the communications links of any networked device or data at rest secure against current and future forms of cyber attack - even an attack from a quantum computer. The company delivers its symmetric key agreement technology via its product SKA-Platform. The firm operates in one segment, that is, the provision of cybersecurity services. The company operates and generates its revenue from UK.
41GF Score

Get the complete analysis for ARQQW

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

$0.13
Price