Nido Education (ASX:NDO) Beneish M-Score: -3.06 (As of Jun. 25, 2026)


ASX:NDO Nido Education Ltd ASX:NDO
18 GF Score
Price A$0.33
! 8 Warning Signs
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What is Nido Education Beneish M-Score?

Nido Education ASX:NDO 18 Beneish M-Score is -3.06 as of Jun. 25, 2026. GuruFocus rates ASX:NDO with a GF Score™ of 18/100. The stock has 8 warning signs investors should review. Among 243 Education companies, Nido Education ranks better than 80.25% 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 -3.06 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:NDO' s Beneish M-Score Range Over the Past 10 Years
Min: -3.06   Med: -2.61   Max: -2.15
Current: -3.06

During the past 4 years, the highest Beneish M-Score of Nido Education was -2.15. The lowest was -3.06. And the median was -2.61.

Nido Education Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Nido Education'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.

Nido Education Beneish M-Score Chart

Nido Education Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -2.15 -3.06

Nido Education Semi-Annual Data
Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 -2.15 0.00 -3.06

ASX:NDO vs EDU, TAL, GHC: Beneish M-Score Comparison

For the Education & Training Services subindustry, Nido Education'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.

Nido Education Beneish M-Score vs Education Industry

For the Education industry and Consumer Defensive sector, Nido Education's Beneish M-Score distribution charts can be found below:

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


ASX:NDO
18GF Score
Nido Education Ltd ASX:NDO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Nido Education 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 Nido Education 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 * 0.6057+0.528 * 1.0122+0.404 * 1.0344+0.892 * 1.0381+0.115 * 0.9342
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0159+4.679 * -0.05033-0.327 * 1.0867
=-3.06

* 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$3.7 Mil.
Revenue was A$169.9 Mil.
Gross Profit was A$158.6 Mil.
Total Current Assets was A$10.5 Mil.
Total Assets was A$342.8 Mil.
Property, Plant and Equipment(Net PPE) was A$173.1 Mil.
Depreciation, Depletion and Amortization(DDA) was A$12.0 Mil.
Selling, General, & Admin. Expense(SGA) was A$118.3 Mil.
Total Current Liabilities was A$40.1 Mil.
Long-Term Debt & Capital Lease Obligation was A$189.9 Mil.
Net Income was A$6.5 Mil.
Gross Profit was A$3.2 Mil.
Cash Flow from Operations was A$20.6 Mil.
 Total Receivables was A$5.9 Mil.
Revenue was A$163.6 Mil.
Gross Profit was A$154.6 Mil.
Total Current Assets was A$10.9 Mil.
Total Assets was A$323.8 Mil.
Property, Plant and Equipment(Net PPE) was A$167.5 Mil.
Depreciation, Depletion and Amortization(DDA) was A$10.8 Mil.
Selling, General, & Admin. Expense(SGA) was A$112.2 Mil.
Total Current Liabilities was A$36.9 Mil.
Long-Term Debt & Capital Lease Obligation was A$163.0 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)
=(3.718 / 169.869) / (5.913 / 163.631)
=0.021887 / 0.036136
=0.6057

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)
=(154.593 / 163.631) / (158.553 / 169.869)
=0.944766 / 0.933384
=1.0122

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 - (10.532 + 173.122) / 342.834) / (1 - (10.939 + 167.519) / 323.806)
=0.464306 / 0.448874
=1.0344

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
=169.869 / 163.631
=1.0381

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))
=(10.833 / (10.833 + 167.519)) / (12.038 / (12.038 + 173.122))
=0.060739 / 0.065014
=0.9342

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)
=(118.307 / 169.869) / (112.178 / 163.631)
=0.69646 / 0.685555
=1.0159

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)
=((189.932 + 40.082) / 342.834) / ((163.043 + 36.867) / 323.806)
=0.670919 / 0.617376
=1.0867

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
=(6.494 - 3.178 - 20.571) / 342.834
=-0.05033

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.

Nido Education has a M-score of -3.06 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 -3.06 mean?
Nido Education (ASX:NDO) has a Beneish M-Score of -3.06 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nido Education and its competitors. According to the industry distribution chart, Nido Education ranks #48 out of 243 companies in the Education industry, placing it in the top 19.8%.
Is Nido Education's Beneish M-Score too high?
Nido Education's current Beneish M-Score is -3.06. Based on the distribution chart, Nido Education ranks #48 out of 243 companies in the Education industry, which is in the top quartile — a strong position relative to peers. Overall, Nido Education has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.
How does Nido Education's Beneish M-Score compare to EDU and TAL?
According to the Education industry distribution chart, Nido Education ranks #48 out of 243 companies for Beneish M-Score. This places Nido Education in the top 20% 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 Education company?
A good Beneish M-Score depends on the Education 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 Nido Education and its competitors. Nido Education's current Beneish M-Score is -3.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nido Education stock overvalued right now?
Nido Education (ASX:NDO) has a current Beneish M-Score of -3.06. The current Beneish M-Score is -3.06. Nido Education's overall GF Score™ is 18/100 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 Nido Education (ASX:NDO), the current Beneish M-Score is -3.06 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.

Nido Education Business Description

Address 1 Park Avenue, Suite 3, Drummoyne, NSW, AUS, 2047
Nido Education Ltd is a national owner, operator and manager of long-day early childhood education and care services. It offers exceptional education and care for children, from six weeks, through to school age, in a safe, comfortable, nurturing and peaceful environment. The Group operates in one segment being child care services.
18GF Score

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