Eden Innovations (ASX:EDE) Beneish M-Score: -3.53 (As of Jun. 26, 2026)


ASX:EDE Eden Innovations Ltd ASX:EDE
27 GF Score
Price A$0.13
GF Value A$0.02
Valuation Significantly Overvalued
! 8 Warning Signs
View Full Analysis

What is Eden Innovations Beneish M-Score?

Eden Innovations ASX:EDE 27 Beneish M-Score is -3.53 as of Jun. 26, 2026. GuruFocus rates ASX:EDE with a GF Score™ of 27/100 and a GF Value™ of A$0.02 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 2,926 Industrial Products companies, Eden Innovations ranks better than 94.63% 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 -3.53 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:EDE' s Beneish M-Score Range Over the Past 10 Years
Min: -4.93   Med: -2.37   Max: 0.16
Current: -3.53

During the past 13 years, the highest Beneish M-Score of Eden Innovations was 0.16. The lowest was -4.93. And the median was -2.37.

Eden Innovations Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Eden Innovations'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.

Eden Innovations Beneish M-Score Chart

Eden Innovations 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 -1.98 -2.44 -4.93 -0.48 -3.53

Eden Innovations 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 -0.48 0.00 -3.53 0.00

ASX:EDE vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Eden Innovations'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.

Eden Innovations Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Eden Innovations's Beneish M-Score distribution charts can be found below:

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


ASX:EDE
27GF Score
Eden Innovations Ltd ASX:EDE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Eden Innovations 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 Eden Innovations 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 * 0.9642+0.528 * 0.9985+0.404 * 0+0.892 * 1.2062+0.115 * 1.0319
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6973+4.679 * -0.15438-0.327 * 1.3926
=-3.53

* 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$0.64 Mil.
Revenue was A$2.43 Mil.
Gross Profit was A$1.68 Mil.
Total Current Assets was A$9.33 Mil.
Total Assets was A$17.57 Mil.
Property, Plant and Equipment(Net PPE) was A$8.24 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.86 Mil.
Selling, General, & Admin. Expense(SGA) was A$2.76 Mil.
Total Current Liabilities was A$19.50 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$-7.12 Mil.
Gross Profit was A$-0.71 Mil.
Cash Flow from Operations was A$-3.70 Mil.
 Total Receivables was A$0.55 Mil.
Revenue was A$2.02 Mil.
Gross Profit was A$1.39 Mil.
Total Current Assets was A$6.29 Mil.
Total Assets was A$19.12 Mil.
Property, Plant and Equipment(Net PPE) was A$12.55 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.35 Mil.
Selling, General, & Admin. Expense(SGA) was A$3.28 Mil.
Total Current Liabilities was A$15.25 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)
=(0.635 / 2.433) / (0.546 / 2.017)
=0.260995 / 0.270699
=0.9642

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)
=(1.389 / 2.017) / (1.678 / 2.433)
=0.688647 / 0.689684
=0.9985

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 - (9.332 + 8.235) / 17.567) / (1 - (6.285 + 12.548) / 19.124)
=0 / 0.015216
=0

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
=2.433 / 2.017
=1.2062

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))
=(1.352 / (1.352 + 12.548)) / (0.857 / (0.857 + 8.235))
=0.097266 / 0.094259
=1.0319

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)
=(2.757 / 2.433) / (3.278 / 2.017)
=1.133169 / 1.625186
=0.6973

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 + 19.504) / 17.567) / ((0 + 15.247) / 19.124)
=1.110264 / 0.79727
=1.3926

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
=(-7.117 - -0.707 - -3.698) / 17.567
=-0.15438

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.

Eden Innovations has a M-score of -3.53 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 -3.53 mean?
Eden Innovations (ASX:EDE) has a Beneish M-Score of -3.53 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Eden Innovations and its competitors. According to the industry distribution chart, Eden Innovations ranks #157 out of 2926 companies in the Industrial Products industry, placing it in the top 5.4%.
Is Eden Innovations' Beneish M-Score too high?
Eden Innovations' current Beneish M-Score is -3.53. Based on the distribution chart, Eden Innovations ranks #157 out of 2926 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Eden Innovations has a GF Score™ of 27/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Eden Innovations' Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Eden Innovations ranks #157 out of 2926 companies for Beneish M-Score. This places Eden Innovations in the top 5% 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Eden Innovations and its competitors. Eden Innovations's current Beneish M-Score is -3.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Eden Innovations stock overvalued right now?
Based on GuruFocus' analysis, Eden Innovations (ASX:EDE) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.02, compared to a current price of A$0.13 — trading 550% above its estimated fair value. The current Beneish M-Score is -3.53. Eden Innovations' overall GF Score™ is 27/100 with 8 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 Eden Innovations (ASX:EDE), the current Beneish M-Score is -3.53 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.

Is Eden Innovations (ASX:EDE) Overvalued in 2026?

Based on GuruFocus' analysis, Eden Innovations stock appears to be overvalued. The current stock price of A$0.13 is trading 550% above its estimated GF Value™ of A$0.02. GuruFocus considers Eden Innovations to be Significantly Overvalued.

Key valuation signals for ASX:EDE:

  • Beneish M-Score: -3.53
  • GF Value™: A$0.02 vs. price of A$0.13 (550% above fair value)
  • GF Score™: 27/100 with 8 warning signs

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

Eden Innovations Business Description

Other Exchanges EDEYF:USA
Address 197 St. Georges Terrace, Level 15, Perth, WA, AUS, 6000
Eden Innovations Ltd is engaged in developing clean technology solutions. It develops, manufactures, and markets EdenCrete, a concrete admixture, and OptiBlend, a retrofit dual fuel kit developed for diesel generator sets. The group has two segments, namely the Eden Innovations LLC segment, which includes EdenCrete sales and development, and Optiblend sales, service, and manufacturing; and the Eden Innovations India Pvt Ltd segment, which includes Optiblend sales, service, and manufacturing in India. It generates the majority of its revenue from the Eden Innovations LLC segment.
27GF Score

Get the complete analysis for ASX:EDE

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

A$0.13
Price
A$0.02
GF Value