OtherLevels Holdings (ASX:OLV) Beneish M-Score: -3.87 (As of Jun. 28, 2026)


What is OtherLevels Holdings Beneish M-Score?

OtherLevels Holdings ASX:OLV Beneish M-Score is -3.87 as of Jun. 28, 2026. The stock has 4 warning signs investors should review.

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 OtherLevels Holdings's Beneish M-Score or its related term are showing as below:

ASX:OLV' s Beneish M-Score Range Over the Past 10 Years
Min: -5.32   Med: -3.87   Max: -2.47
Current: -3.87

During the past 5 years, the highest Beneish M-Score of OtherLevels Holdings was -2.47. The lowest was -5.32. And the median was -3.87.

OtherLevels Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for OtherLevels Holdings'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.

OtherLevels Holdings Beneish M-Score Chart

OtherLevels Holdings Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19
Beneish M-Score
0.00 0.00 -5.32 -2.47 -3.87

OtherLevels Holdings Semi-Annual Data
Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 -2.47 0.00 -3.87 0.00

ASX:OLV vs MSFT, ADBE, ORCL: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, OtherLevels Holdings'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.

OtherLevels Holdings Beneish M-Score vs Software Industry

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

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


OtherLevels Holdings 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 OtherLevels Holdings 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 * 2.4054+0.528 * 1+0.404 * 1.1433+0.892 * 1.0252+0.115 * 0.9977
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.794+4.679 * -0.394474-0.327 * 0.9991
=-2.92

* 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 (Jun19) TTM:Last Year (Jun18) TTM:
Total Receivables was A$1.16 Mil.
Revenue was A$5.38 Mil.
Gross Profit was A$5.38 Mil.
Total Current Assets was A$1.62 Mil.
Total Assets was A$7.42 Mil.
Property, Plant and Equipment(Net PPE) was A$0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.72 Mil.
Selling, General, & Admin. Expense(SGA) was A$0.49 Mil.
Total Current Liabilities was A$5.45 Mil.
Long-Term Debt & Capital Lease Obligation was A$3.88 Mil.
Net Income was A$-3.39 Mil.
Gross Profit was A$0.03 Mil.
Cash Flow from Operations was A$-0.49 Mil.
 Total Receivables was A$0.47 Mil.
Revenue was A$5.25 Mil.
Gross Profit was A$5.25 Mil.
Total Current Assets was A$1.65 Mil.
Total Assets was A$5.24 Mil.
Property, Plant and Equipment(Net PPE) was A$0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.37 Mil.
Selling, General, & Admin. Expense(SGA) was A$0.60 Mil.
Total Current Liabilities was A$3.79 Mil.
Long-Term Debt & Capital Lease Obligation was A$2.82 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)
=(1.159 / 5.378) / (0.47 / 5.246)
=0.215508 / 0.089592
=2.4054

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)
=(5.246 / 5.246) / (5.378 / 5.378)
=1 / 1
=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 - (1.616 + 0.031) / 7.42) / (1 - (1.647 + 0.028) / 5.243)
=0.778032 / 0.680526
=1.1433

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
=5.378 / 5.246
=1.0252

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))
=(1.371 / (1.371 + 0.028)) / (1.717 / (1.717 + 0.031))
=0.979986 / 0.982265
=0.9977

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)
=(0.49 / 5.378) / (0.602 / 5.246)
=0.091112 / 0.114754
=0.794

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)
=((3.881 + 5.454) / 7.42) / ((2.816 + 3.786) / 5.243)
=1.258086 / 1.259203
=0.9991

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
=(-3.387 - 0.032 - -0.492) / 7.42
=-0.394474

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.

OtherLevels Holdings has a M-score of -2.92 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 -3.87 mean?
OtherLevels Holdings (ASX:OLV) has a Beneish M-Score of -3.87 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on OtherLevels Holdings and its competitors.
Is OtherLevels Holdings' Beneish M-Score too high?
OtherLevels Holdings' current Beneish M-Score is -3.87.
How does OtherLevels Holdings' Beneish M-Score compare to MSFT and ADBE?
OtherLevels Holdings' Beneish M-Score of -3.87 can be compared against companies in the Software 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 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 OtherLevels Holdings and its competitors. OtherLevels Holdings's current Beneish M-Score is -3.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is OtherLevels Holdings stock overvalued right now?
Based on GuruFocus' analysis, OtherLevels Holdings (ASX:OLV) is currently considered Possible Value Trap. The current Beneish M-Score is -3.87. 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 OtherLevels Holdings (ASX:OLV), the current Beneish M-Score is -3.87 as of Jun. 28, 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.

OtherLevels Holdings Business Description

Address 235 Edward Street, Level 1, Brisbane, QLD, AUS, 4000
OtherLevels Holdings Ltd provides mobile marketing solutions. It operates a digital marketing Software-as-a-Service business that enables enterprises to communicate with its users on mobile and smart devices. Geographically, it derives a majority of revenue from the United Kingdom and also has a presence in Australia and the United States. The company generates revenue from Licences; Managed Services; Professional Services and Other income. It provides platforms such as Web and App Messaging, Location Messaging, Event Messaging, Intelligent Messaging, and In-Play Messaging.