Locate Technologies (ASX:LOC) Beneish M-Score: -3.82 (As of Jun. 26, 2026)


What is Locate Technologies Beneish M-Score?

Locate Technologies ASX:LOC Beneish M-Score is -3.82 as of Jun. 26, 2026. The stock has 3 warning signs investors should review. Among 2,633 Software companies, Locate Technologies ranks better than 90.43% 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 -3.82 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:LOC' s Beneish M-Score Range Over the Past 10 Years
Min: -4.24   Med: -4.03   Max: -3.82
Current: -3.82

During the past 4 years, the highest Beneish M-Score of Locate Technologies was -3.82. The lowest was -4.24. And the median was -4.03.

Locate Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Locate Technologies'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.

Locate Technologies Beneish M-Score Chart

Locate Technologies Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 -4.24 -3.82

Locate Technologies Semi-Annual Data
Dec20 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 0.00 0.00 -4.24 0.00 -3.82

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

For the Software - Application subindustry, Locate Technologies'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.

Locate Technologies Beneish M-Score vs Software Industry

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

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


Locate Technologies 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 Locate Technologies 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 * 0.7347+0.528 * 0.9854+0.404 * 0.8415+0.892 * 1.047+0.115 * 0.9975
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9055+4.679 * -0.241504-0.327 * 0.868
=-3.82

* 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$0.44 Mil.
Revenue was A$5.99 Mil.
Gross Profit was A$5.68 Mil.
Total Current Assets was A$4.06 Mil.
Total Assets was A$7.21 Mil.
Property, Plant and Equipment(Net PPE) was A$0.12 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.08 Mil.
Selling, General, & Admin. Expense(SGA) was A$4.11 Mil.
Total Current Liabilities was A$1.54 Mil.
Long-Term Debt & Capital Lease Obligation was A$3.70 Mil.
Net Income was A$-1.82 Mil.
Gross Profit was A$0.09 Mil.
Cash Flow from Operations was A$-0.17 Mil.
 Total Receivables was A$0.57 Mil.
Revenue was A$5.72 Mil.
Gross Profit was A$5.34 Mil.
Total Current Assets was A$2.77 Mil.
Total Assets was A$5.83 Mil.
Property, Plant and Equipment(Net PPE) was A$0.15 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.31 Mil.
Selling, General, & Admin. Expense(SGA) was A$4.34 Mil.
Total Current Liabilities was A$1.30 Mil.
Long-Term Debt & Capital Lease Obligation was A$3.59 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)
=(0.44 / 5.993) / (0.572 / 5.724)
=0.073419 / 0.09993
=0.7347

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)
=(5.342 / 5.724) / (5.676 / 5.993)
=0.933263 / 0.947105
=0.9854

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 - (4.061 + 0.123) / 7.209) / (1 - (2.769 + 0.153) / 5.828)
=0.419614 / 0.498627
=0.8415

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
=5.993 / 5.724
=1.047

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))
=(1.309 / (1.309 + 0.153)) / (1.078 / (1.078 + 0.123))
=0.895349 / 0.897585
=0.9975

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)
=(4.11 / 5.993) / (4.335 / 5.724)
=0.6858 / 0.757338
=0.9055

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)
=((3.703 + 1.54) / 7.209) / ((3.585 + 1.298) / 5.828)
=0.727285 / 0.837852
=0.868

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
=(-1.816 - 0.094 - -0.169) / 7.209
=-0.241504

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.

Locate Technologies has a M-score of -3.82 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 -3.82 mean?
Locate Technologies (ASX:LOC) has a Beneish M-Score of -3.82 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Locate Technologies and its competitors. According to the industry distribution chart, Locate Technologies ranks #252 out of 2633 companies in the Software industry, placing it in the top 9.6%.
Is Locate Technologies' Beneish M-Score too high?
Locate Technologies' current Beneish M-Score is -3.82. Based on the distribution chart, Locate Technologies ranks #252 out of 2633 companies in the Software industry, which is in the top quartile — a strong position relative to peers.
How does Locate Technologies' Beneish M-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Locate Technologies ranks #252 out of 2633 companies for Beneish M-Score. This places Locate Technologies in the top 10% 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 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 Locate Technologies and its competitors. Locate Technologies's current Beneish M-Score is -3.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Locate Technologies stock overvalued right now?
Locate Technologies (ASX:LOC) has a current Beneish M-Score of -3.82. The stock's GF Value™ is A$0.08, compared to a current price of A$0.06 — trading 30% below its estimated fair value. The current Beneish M-Score is -3.82. 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 Locate Technologies (ASX:LOC), the current Beneish M-Score is -3.82 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.

Locate Technologies Business Description

Other Exchanges LOC:New Zealand
Address 55 Miller Street, Level 4, Suite 4.11, Pyrmont, Sydney, NSW, AUS, 2009
Locate Technologies Ltd is a provider of real-time tracking delivery solutions. The group's Locate2u is a Software-as-a-Service (SaaS) platform, designed to manage and optimise deliveries for couriers, retailers, and e-commerce businesses, and its Zoom2u Platform provides an Australia-wide marketplace connecting customers to a network of local drivers for fast deliveries. The group has two operating segments: Zoom2u and 2u Enterprises, and Locate2u. Maximum revenue is generated from the Zoom2u and 2u Enterprises segment, which provides delivery and tracking services to customers via an internally developed platform, allowing customers to arrange for the delivery of items. This segment also includes the Shred2u business, offering on-site and off-site document shredding services.