Loyal Metals (ASX:LLM) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


ASX:LLM Loyal Metals Ltd ASX:LLM
35 GF Score
Price A$0.43
GF Value A$0.63
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is Loyal Metals Beneish M-Score?

Loyal Metals ASX:LLM -1.15% 35 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates ASX:LLM with a GF Score™ of 35/100 and a GF Value™ of A$0.63 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 685 Metals & Mining companies, Loyal Metals 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 Loyal Metals's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Loyal Metals was 2.35. The lowest was 2.35. And the median was 2.35.

Loyal Metals Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Loyal Metals'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.

Loyal Metals Beneish M-Score Chart

Loyal Metals Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 2.35 0.00 0.00

Loyal Metals Semi-Annual Data
Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 2.35 0.00 0.00 0.00 0.00

Loyal Metals Beneish M-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Loyal Metals'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.

Loyal Metals Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Loyal Metals's Beneish M-Score distribution charts can be found below:

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


ASX:LLM
35GF Score
Loyal Metals Ltd ASX:LLM
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Loyal Metals 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 Loyal Metals 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was A$0.34 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$6.14 Mil.
Total Assets was A$26.58 Mil.
Property, Plant and Equipment(Net PPE) was A$16.67 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$4.17 Mil.
Total Current Liabilities was A$2.56 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$-6.71 Mil.
Gross Profit was A$0.38 Mil.
Cash Flow from Operations was A$-1.44 Mil.
 Total Receivables was A$0.91 Mil.
Revenue was A$0.54 Mil.
Gross Profit was A$0.54 Mil.
Total Current Assets was A$5.06 Mil.
Total Assets was A$19.91 Mil.
Property, Plant and Equipment(Net PPE) was A$14.86 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.01 Mil.
Selling, General, & Admin. Expense(SGA) was A$2.20 Mil.
Total Current Liabilities was A$0.52 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)
=(0.338 / 0) / (0.911 / 0.537)
= / 1.696462
=

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)
=(0.537 / 0.537) / (0 / 0)
=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 - (6.137 + 16.668) / 26.575) / (1 - (5.055 + 14.857) / 19.912)
=0.141863 / 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
=0 / 0.537
=

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))
=(0.006 / (0.006 + 14.857)) / (0 / (0 + 16.668))
=0.000404 / 0
=

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)
=(4.166 / 0) / (2.197 / 0.537)
= / 4.091248
=

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 + 2.557) / 26.575) / ((0 + 0.522) / 19.912)
=0.096218 / 0.026215
=

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
=(-6.711 - 0.376 - -1.443) / 26.575
=-0.21238

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?
Loyal Metals (ASX:LLM) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Loyal Metals and its competitors. Over the past decade, Loyal Metals' Beneish M-Score has ranged from 2.35 to 2.35. According to the industry distribution chart, Loyal Metals ranks #999999 out of 685 companies in the Metals & Mining industry.
Is Loyal Metals' Beneish M-Score too high?
Loyal Metals' current Beneish M-Score is 0.00. Over the past 10 years, this metric has ranged from a low of 2.35 to a high of 2.35. Based on the distribution chart, Loyal Metals ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Loyal Metals has a GF Score™ of 35/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Loyal Metals' Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Loyal Metals ranks #999999 out of 685 companies for Beneish M-Score. This places Loyal Metals in the lower half of its industry. Historically, Loyal Metals' own Beneish M-Score has ranged from 2.35 to 2.35 over the past decade. 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 Loyal Metals and its competitors. Loyal Metals'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 Loyal Metals stock overvalued right now?
Based on GuruFocus' analysis, Loyal Metals (ASX:LLM) is currently considered Possible Value Trap. The stock's GF Value™ is A$0.63, compared to a current price of A$0.43 — trading 31.7% below its estimated fair value. The current Beneish M-Score is 0.00. Loyal Metals' overall GF Score™ is 35/100 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 Loyal Metals (ASX:LLM), the current Beneish M-Score is 0.00 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 Loyal Metals (ASX:LLM) Overvalued in 2026?

Based on GuruFocus' analysis, Loyal Metals stock appears to be undervalued. The current stock price of A$0.43 is trading 31.7% below its estimated GF Value™ of A$0.63. GuruFocus considers Loyal Metals to be Possible Value Trap.

Key valuation signals for ASX:LLM:

  • Beneish M-Score: 0.00
  • GF Value™: A$0.63 vs. price of A$0.43 (31.7% below fair value)
  • GF Score™: 35/100 with 3 warning signs

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

Loyal Metals Business Description

Address 5/10 Johnston Street, Peppermint Grove, Perth, WA, AUS, 6011
Loyal Metals Ltd is a well-structured resource exploration company with projects in Tier 1 North American and Australian mining jurisdictions. Through the systematic exploration of its projects, the Company aims to delineate JORC compliant resources, creating value for its shareholders. Company's portfolio includes projects like The hidden lake lithium project in the Northwest Territories, The Trieste Lithium Project, located in the James Bay region of Quebec and The Highway Reward Copper Gold Mine in Queensland. The company operates in three geographical segments namely, Australia, Canada and USA.
35GF Score

Get the complete analysis for ASX:LLM

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

A$0.43
Price
A$0.63
GF Value