Ionic Rare EarthsASX:IXR -2.60%36 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates ASX:IXR with a GF Score™ of 36/100. The stock has 1 warning sign investors should review. Among 685 Metals & Mining companies, Ionic Rare Earths ranks worse than 145985.26% 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 Ionic Rare Earths's Beneish M-Score or its related term are showing as below:
During the past 13 years, the highest Beneish M-Score of Ionic Rare Earths was 0.00. The lowest was 0.00. And the median was 0.00.
Ionic Rare Earths Beneish M-Score Related Terms
Ionic Rare Earths Beneish M-Score Historical Data
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The historical data trend for Ionic Rare Earths'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.
For the Other Industrial Metals & Mining subindustry, Ionic Rare Earths'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.
Ionic Rare Earths Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Ionic Rare Earths's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ionic Rare Earths's Beneish M-Score falls into.
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 Ionic Rare Earths 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.
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.
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))
=
(2.285 / (2.285 + 2.392))
/
(1.151 / (1.151 + 1.682))
=
0.488561
/
0.406283
=
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
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
=
(-11.341 - 2.157
-
-5.891)
/
32.562
=
-0.233616
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.
Ionic Rare Earths (ASX:IXR) 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 Ionic Rare Earths and its competitors. According to the industry distribution chart, Ionic Rare Earths ranks #999999 out of 685 companies in the Metals & Mining industry.
Is Ionic Rare Earths' Beneish M-Score too high?
Ionic Rare Earths' current Beneish M-Score is 0.00. Based on the distribution chart, Ionic Rare Earths ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Ionic Rare Earths has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does Ionic Rare Earths' Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Ionic Rare Earths ranks #999999 out of 685 companies for Beneish M-Score. This places Ionic Rare Earths 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Ionic Rare Earths and its competitors. Ionic Rare Earths'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 Ionic Rare Earths stock overvalued right now?
Ionic Rare Earths (ASX:IXR) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Ionic Rare Earths' overall GF Score™ is 36/100 with 1 warning sign 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 Ionic Rare Earths (ASX:IXR), 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.
Ionic Rare Earths Ltd is a mineral exploration company. It is engaged in the mining, refining, and recycling of magnet and heavy rare earth critical minerals for energy transition, manufacturing, and defense. Its projects include the Makuutu project in Uganda. The company also has a magnet recycling facility in Northern Ireland. It is organized into one operating segment, exploration operations. Geographically, its activities are conducted across three geographic locations, Australia which generates maximum revenue, Uganda, and the United Kingdom.
36GF Score
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