Connexion Mobility (ASX:CXZ) Beneish M-Score: -2.25 (As of Jun. 26, 2026)


What is Connexion Mobility Beneish M-Score?

Connexion Mobility ASX:CXZ Beneish M-Score is -2.25 as of Jun. 26, 2026. Among 2,634 Software companies, Connexion Mobility ranks worse than 67.43% 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 -2.25 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:CXZ' s Beneish M-Score Range Over the Past 10 Years
Min: -26.03   Med: -2.4   Max: 0.33
Current: -2.25

During the past 13 years, the highest Beneish M-Score of Connexion Mobility was 0.33. The lowest was -26.03. And the median was -2.40.

Connexion Mobility Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Connexion Mobility'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.

Connexion Mobility Beneish M-Score Chart

Connexion Mobility Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.98 -3.60 -2.14 -2.54 -2.25

Connexion Mobility Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -2.54 0.00 -2.25 0.00

ASX:CXZ vs CRM, SHOP, UBER: Beneish M-Score Comparison

For the Software - Application subindustry, Connexion Mobility'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.

Connexion Mobility Beneish M-Score vs Software Industry

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

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


Connexion Mobility 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 Connexion Mobility 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 * 0.9356+0.528 * 1.1477+0.404 * 1.1584+0.892 * 1.1594+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9281+4.679 * -0.014176-0.327 * 0.8219
=-2.25

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was A$4.76 Mil.
Revenue was A$17.18 Mil.
Gross Profit was A$11.69 Mil.
Total Current Assets was A$13.76 Mil.
Total Assets was A$14.04 Mil.
Property, Plant and Equipment(Net PPE) was A$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$5.21 Mil.
Total Current Liabilities was A$2.49 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$3.81 Mil.
Gross Profit was A$0.90 Mil.
Cash Flow from Operations was A$3.11 Mil.
 Total Receivables was A$4.39 Mil.
Revenue was A$14.82 Mil.
Gross Profit was A$11.57 Mil.
Total Current Assets was A$11.92 Mil.
Total Assets was A$12.12 Mil.
Property, Plant and Equipment(Net PPE) was A$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.05 Mil.
Selling, General, & Admin. Expense(SGA) was A$4.84 Mil.
Total Current Liabilities was A$2.61 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 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)
=(4.763 / 17.183) / (4.391 / 14.821)
=0.277193 / 0.296269
=0.9356

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)
=(11.568 / 14.821) / (11.686 / 17.183)
=0.780514 / 0.680091
=1.1477

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 - (13.759 + 0) / 14.038) / (1 - (11.915 + 0) / 12.123)
=0.019875 / 0.017157
=1.1584

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
=17.183 / 14.821
=1.1594

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))
=(0.048 / (0.048 + 0)) / (0 / (0 + 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)
=(5.21 / 17.183) / (4.842 / 14.821)
=0.303207 / 0.326699
=0.9281

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 + 2.487) / 14.038) / ((0 + 2.613) / 12.123)
=0.177162 / 0.215541
=0.8219

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
=(3.808 - 0.897 - 3.11) / 14.038
=-0.014176

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.

Connexion Mobility has a M-score of -2.25 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 -2.25 mean?
Connexion Mobility (ASX:CXZ) has a Beneish M-Score of -2.25 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Connexion Mobility and its competitors. According to the industry distribution chart, Connexion Mobility ranks #1776 out of 2634 companies in the Software industry, placing it in the top 67.4%.
Is Connexion Mobility's Beneish M-Score too high?
Connexion Mobility's current Beneish M-Score is -2.25. Based on the distribution chart, Connexion Mobility ranks #1776 out of 2634 companies in the Software industry, which is below the industry midpoint.
How does Connexion Mobility's Beneish M-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Connexion Mobility ranks #1776 out of 2634 companies for Beneish M-Score. This places Connexion Mobility 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 Connexion Mobility and its competitors. Connexion Mobility's current Beneish M-Score is -2.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Connexion Mobility stock overvalued right now?
Based on GuruFocus' analysis, Connexion Mobility (ASX:CXZ) is currently considered Significantly Undervalued. The stock's GF Value™ is A$0.05, compared to a current price of A$0.02 — trading 52% below its estimated fair value. The current Beneish M-Score is -2.25. 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 Connexion Mobility (ASX:CXZ), the current Beneish M-Score is -2.25 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.

Connexion Mobility Business Description

Address 162 Collins Street, Level 3, Melbourne, VIC, AUS, 3000
Connexion Mobility Ltd is engaged in the development and commercialization of fleet management software for the automotive industry. The company provides its Software as a Service (SaaS) solutions, the OnTRAC and Connexion platforms, to various automotive original equipment manufacturers (OEMs) in the United States to manage their Courtesy Transportation Program (CTP), and related mobility needs such as fleet and rental management, toll management, insurance and identity verification, etc. It operates in one segment, specialising in developing information technology solutions for the automotive industries in Australia, the United States of America, Canada, and Mexico. Geographically, the company derives a majority of its revenue from its business in the USA.