BMTM (Bright Mountain Media) Beneish M-Score: -3.93 (As of Jul. 15, 2026)

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What is Bright Mountain Media Beneish M-Score?

Bright Mountain Media BMTM -1.67% Beneish M-Score is -3.93 as of Jul. 15, 2026. The stock has 6 warning signs investors should review. Among 532 Interactive Media companies, Bright Mountain Media ranks better than 86.84% 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 -3.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BMTM' s Beneish M-Score Range Over the Past 10 Years
Min: -5.94   Med: -3.12   Max: 28.57
Current: -3.93

During the past 13 years, the highest Beneish M-Score of Bright Mountain Media was 28.57. The lowest was -5.94. And the median was -3.12.

Bright Mountain Media Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Bright Mountain Media'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.

Bright Mountain Media Beneish M-Score Chart

Bright Mountain Media Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.25 -3.24 -2.09 -4.61 -4.07

Bright Mountain Media Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -4.30 -4.56 -4.46 -4.07 -3.93

BMTM vs ONFO, QTTOY, BOTX: Beneish M-Score Comparison

For the Internet Content & Information subindustry, Bright Mountain Media'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.

Bright Mountain Media Beneish M-Score vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Bright Mountain Media's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Bright Mountain Media's Beneish M-Score falls into.


Bright Mountain Media 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 Bright Mountain Media 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 * 1.07+0.528 * 1.123+0.404 * 0.9498+0.892 * 1.0099+0.115 * 0.9889
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6691+4.679 * -0.333968-0.327 * 1.1777
=-3.93

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $15.41 Mil.
Revenue was 13.963 + 15.691 + 13.94 + 15.408 = $59.00 Mil.
Gross Profit was 4.309 + 4.223 + 4.254 + 3.037 = $15.82 Mil.
Total Current Assets was $18.90 Mil.
Total Assets was $37.26 Mil.
Property, Plant and Equipment(Net PPE) was $0.26 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.96 Mil.
Selling, General, & Admin. Expense(SGA) was $12.59 Mil.
Total Current Liabilities was $115.10 Mil.
Long-Term Debt & Capital Lease Obligation was $0.06 Mil.
Net Income was -1.3 + -3.31 + -2.833 + -4.081 = $-11.52 Mil.
Non Operating Income was 0.062 + -0.644 + 0.052 + 0.044 = $-0.49 Mil.
Cash Flow from Operations was -0.196 + 0.905 + -0.887 + 1.584 = $1.41 Mil.
 Total Receivables was $14.26 Mil.
Revenue was 14.19 + 17.079 + 14.151 + 13.003 = $58.42 Mil.
Gross Profit was 4.272 + 5.514 + 4.387 + 3.422 = $17.60 Mil.
Total Current Assets was $19.62 Mil.
Total Assets was $40.79 Mil.
Property, Plant and Equipment(Net PPE) was $0.30 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.10 Mil.
Selling, General, & Admin. Expense(SGA) was $18.63 Mil.
Total Current Liabilities was $34.44 Mil.
Long-Term Debt & Capital Lease Obligation was $72.59 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)
=(15.409 / 59.002) / (14.26 / 58.423)
=0.261161 / 0.244082
=1.07

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)
=(17.595 / 58.423) / (15.823 / 59.002)
=0.301166 / 0.268177
=1.123

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 - (18.899 + 0.257) / 37.261) / (1 - (19.62 + 0.301) / 40.785)
=0.485897 / 0.511561
=0.9498

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
=59.002 / 58.423
=1.0099

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))
=(2.097 / (2.097 + 0.301)) / (1.964 / (1.964 + 0.257))
=0.874479 / 0.884286
=0.9889

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)
=(12.59 / 59.002) / (18.632 / 58.423)
=0.213383 / 0.318915
=0.6691

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)
=((0.063 + 115.098) / 37.261) / ((72.588 + 34.444) / 40.785)
=3.090658 / 2.624298
=1.1777

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
=(-11.524 - -0.486 - 1.406) / 37.261
=-0.333968

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.

Bright Mountain Media has a M-score of -3.93 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 -3.93 mean?
Bright Mountain Media (BMTM) has a Beneish M-Score of -3.93 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bright Mountain Media and its competitors. According to the industry distribution chart, Bright Mountain Media ranks #70 out of 532 companies in the Interactive Media industry, placing it in the top 13.2%.
Is Bright Mountain Media's Beneish M-Score too high?
Bright Mountain Media's current Beneish M-Score is -3.93. Based on the distribution chart, Bright Mountain Media ranks #70 out of 532 companies in the Interactive Media industry, which is in the top quartile — a strong position relative to peers.
How does Bright Mountain Media's Beneish M-Score compare to ONFO and QTTOY?
According to the Interactive Media industry distribution chart, Bright Mountain Media ranks #70 out of 532 companies for Beneish M-Score. This places Bright Mountain Media in the top 13% 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 Interactive Media company?
A good Beneish M-Score depends on the Interactive Media 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 Bright Mountain Media and its competitors. Bright Mountain Media's current Beneish M-Score is -3.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bright Mountain Media stock overvalued right now?
Based on GuruFocus' analysis, Bright Mountain Media (BMTM) is currently considered Possible Value Trap. The stock's GF Value™ is $0.04, compared to a current price of $0.01 — trading 77.9% below its estimated fair value. The current Beneish M-Score is -3.93. 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 Bright Mountain Media (BMTM), the current Beneish M-Score is -3.93 as of Jul. 15, 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.

Bright Mountain Media Business Description

Address 6400 Congress Avenue, Suite 2050, Boca Raton, FL, USA, 33487
Bright Mountain Media Inc is a holding company that focuses on digital publishing and advertising technology. The Company is engaged in content creation and advertising technology development that helps customers connect with, and market to, targeted audiences in high-quality environments using a variety of digital ad formats. It generates revenue through sales of advertising services which generate revenue from advertisements placed on the Companies owned and managed sites, as well as from advertisements placed on partner websites, for which the company earns a share of the revenue.