Gold Hydrogen (ASX:GHY) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


ASX:GHY Gold Hydrogen Ltd ASX:GHY
36 GF Score
Price A$0.35
! 2 Warning Signs
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What is Gold Hydrogen Beneish M-Score?

Gold Hydrogen ASX:GHY -9.09% 36 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates ASX:GHY with a GF Score™ of 36/100. The stock has 2 warning signs investors should review. Among 822 Oil & Gas companies, Gold Hydrogen ranks worse than 121654.38% 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.

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

During the past 4 years, the highest Beneish M-Score of Gold Hydrogen was 0.00. The lowest was 0.00. And the median was 0.00.

Gold Hydrogen Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Gold Hydrogen'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.

Gold Hydrogen Beneish M-Score Chart

Gold Hydrogen Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 0.00 0.00

Gold Hydrogen Semi-Annual Data
Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

ASX:GHY vs COP, EOG, OXY: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Gold Hydrogen'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.

Gold Hydrogen Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Gold Hydrogen's Beneish M-Score distribution charts can be found below:

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


ASX:GHY
36GF Score
Gold Hydrogen Ltd ASX:GHY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Gold Hydrogen 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 Gold Hydrogen 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was A$0.07 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$11.78 Mil.
Total Assets was A$34.50 Mil.
Property, Plant and Equipment(Net PPE) was A$21.84 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.06 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.23 Mil.
Total Current Liabilities was A$0.43 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.07 Mil.
Net Income was A$-2.24 Mil.
Gross Profit was A$0.00 Mil.
Cash Flow from Operations was A$-1.83 Mil.
 Total Receivables was A$0.39 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$15.18 Mil.
Total Assets was A$37.39 Mil.
Property, Plant and Equipment(Net PPE) was A$21.33 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.05 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.41 Mil.
Total Current Liabilities was A$1.17 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.06 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)
=(0.073 / 0) / (0.389 / 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 / 0)
= /
=

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 - (11.783 + 21.835) / 34.495) / (1 - (15.176 + 21.334) / 37.385)
=0.025424 / 0.023405
=

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 / 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))
=(0.053 / (0.053 + 21.334)) / (0.064 / (0.064 + 21.835))
=0.002478 / 0.002923
=

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)
=(1.231 / 0) / (1.414 / 0)
= /
=

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)
=((0.068 + 0.434) / 34.495) / ((0.057 + 1.168) / 37.385)
=0.014553 / 0.032767
=

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
=(-2.241 - 0 - -1.834) / 34.495
=-0.011799

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?
Gold Hydrogen (ASX:GHY) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Gold Hydrogen and its competitors. According to the industry distribution chart, Gold Hydrogen ranks #999999 out of 822 companies in the Oil & Gas industry.
Is Gold Hydrogen's Beneish M-Score too high?
Gold Hydrogen's current Beneish M-Score is 0.00. Based on the distribution chart, Gold Hydrogen ranks #999999 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Gold Hydrogen has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does Gold Hydrogen's Beneish M-Score compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Gold Hydrogen ranks #999999 out of 822 companies for Beneish M-Score. This places Gold Hydrogen 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 an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas 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 Gold Hydrogen and its competitors. Gold Hydrogen'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 Gold Hydrogen stock overvalued right now?
Gold Hydrogen (ASX:GHY) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Gold Hydrogen's overall GF Score™ is 36/100 with 2 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 Gold Hydrogen (ASX:GHY), the current Beneish M-Score is 0.00 as of Jun. 25, 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.

Gold Hydrogen Business Description

Industry EnergyOil & Gas
Other Exchanges GHYLF:USAX5Y:Germany
Address 110 Eagle Street, Suite 3, Level 14, Brisbane, QLD, AUS, 4000
Gold Hydrogen Ltd engages in the exploration of a natural hydrogen prospective resource in Australia. It holds 100% interest in the Ramsay Project, a Gold Hydrogen exploration project in South Australia.
36GF Score

Get the complete analysis for ASX:GHY

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

A$0.35
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