Atlas LithiumATLX -3.21%28 Beneish M-Score is 28.52 as of Jun. 25, 2026. GuruFocus rates ATLX with a GF Score™ of 28/100. The stock has 4 warning signs investors should review. Among 685 Metals & Mining companies, Atlas Lithium ranks worse than 98.25% 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.
Warning Sign:
Beneish M-Score 28.52 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Atlas Lithium's Beneish M-Score or its related term are showing as below:
ATLX'
s Beneish M-Score Range Over the Past 10 Years
Min: -10.1 Med: -5.65 Max: 84.83
Current: 28.52
During the past 13 years, the highest Beneish M-Score of Atlas Lithium was 84.83. The lowest was -10.10. And the median was -5.65.
Atlas Lithium Beneish M-Score Related Terms
Atlas Lithium Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Atlas Lithium'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.
ATLX vs COBA, USGO, GRO: Beneish M-Score Comparison
For the Other Industrial Metals & Mining subindustry, Atlas Lithium'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.
Atlas Lithium Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Atlas Lithium's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Atlas Lithium'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 Atlas Lithium 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 * 36.5269
+
0.528 * 0.427
+
0.404 * 0.3505
+
0.892 * 0.2834
+
0.115 * 1.2741
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 3.3643
+
4.679 * -0.048189
-
0.327 * 0.6205
=
28.52
* 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))
=
(0.086 / (0.086 + 43.657))
/
(0.077 / (0.077 + 49.838))
=
0.001966
/
0.001543
=
1.2741
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
=
(-32.65 - -0.044
-
-28.392)
/
87.447
=
-0.048189
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.
Atlas Lithium has a M-score of 28.52 signals that the company is likely to be a manipulator.
Atlas Lithium (ATLX) has a Beneish M-Score of 28.52 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Atlas Lithium and its competitors. According to the industry distribution chart, Atlas Lithium ranks #673 out of 685 companies in the Metals & Mining industry, placing it in the top 98.2%.
Is Atlas Lithium's Beneish M-Score too high?
Atlas Lithium's current Beneish M-Score is 28.52. Based on the distribution chart, Atlas Lithium ranks #673 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Atlas Lithium has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does Atlas Lithium's Beneish M-Score compare to COBA and USGO?
According to the Metals & Mining industry distribution chart, Atlas Lithium ranks #673 out of 685 companies for Beneish M-Score. This places Atlas Lithium 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 Atlas Lithium and its competitors. Atlas Lithium's current Beneish M-Score is 28.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Atlas Lithium stock overvalued right now?
Atlas Lithium (ATLX) has a current Beneish M-Score of 28.52. The current Beneish M-Score is 28.52. Atlas Lithium's overall GF Score™ is 28/100 with 4 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 Atlas Lithium (ATLX), the current Beneish M-Score is 28.52 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.
Atlas Lithium Corp is a mineral exploration and development company with lithium projects and exploration properties in other critical and battery minerals, including nickel, rare earth, graphite, and titanium, to power the increased demand for electrification. Its focus is on developing its hard-rock lithium project Minas Gerais Lithium Project, located in Minas Gerais State in Brazil. The company is focused on producing and selling lithium concentrate, a key ingredient for the battery supply chain.
28GF Score
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