CHWWQ (Chesswood Group) Beneish M-Score: 0.00 (As of Aug. 02, 2026)

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CHWWQ Chesswood Group Ltd CHWWQ
12 GF Score
Price $0.00
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What is Chesswood Group Beneish M-Score?

Chesswood Group CHWWQ -99.00% 12 Beneish M-Score is 0.00 as of Aug. 02, 2026. GuruFocus rates CHWWQ with a GF Score™ of 12/100.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 Chesswood Group's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Chesswood Group was 0.00. The lowest was 0.00. And the median was 0.00.

CHWWQ
12GF Score
Chesswood Group Ltd CHWWQ
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Chesswood Group 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 Chesswood Group 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 * 0.2895+0.528 * 1+0.404 * 0.9997+0.892 * 0.8678+0.115 * 0.911
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1445+4.679 * -0.336814-0.327 * 1.0117
=-4.87

* 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 (Mar24) TTM:Last Year (Mar23) TTM:
Total Receivables was $511.4 Mil.
Revenue was 28.07 + 32.637 + 34.919 + 38.863 = $134.5 Mil.
Gross Profit was 28.07 + 32.637 + 34.919 + 38.863 = $134.5 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $1,392.8 Mil.
Property, Plant and Equipment(Net PPE) was $3.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.2 Mil.
Selling, General, & Admin. Expense(SGA) was $84.7 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $344.4 Mil.
Net Income was -4.58 + -24.568 + 0.183 + 1.465 = $-27.5 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 256.755 + 83.774 + 50.05 + 51.047 = $441.6 Mil.
 Total Receivables was $2,035.3 Mil.
Revenue was 36.865 + 36.614 + 41.398 + 40.096 = $155.0 Mil.
Gross Profit was 36.865 + 36.614 + 41.398 + 40.096 = $155.0 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $1,850.4 Mil.
Property, Plant and Equipment(Net PPE) was $4.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.2 Mil.
Selling, General, & Admin. Expense(SGA) was $85.2 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $452.2 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)
=(511.383 / 134.489) / (2035.253 / 154.973)
=3.802415 / 13.132952
=0.2895

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)
=(154.973 / 154.973) / (134.489 / 134.489)
=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 - (0 + 3.924) / 1392.832) / (1 - (0 + 4.647) / 1850.383)
=0.997183 / 0.997489
=0.9997

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
=134.489 / 154.973
=0.8678

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))
=(3.217 / (3.217 + 4.647)) / (3.198 / (3.198 + 3.924))
=0.409079 / 0.449031
=0.911

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)
=(84.653 / 134.489) / (85.231 / 154.973)
=0.629442 / 0.549973
=1.1445

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)
=((344.357 + 0) / 1392.832) / ((452.184 + 0) / 1850.383)
=0.247235 / 0.244373
=1.0117

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
=(-27.5 - 0 - 441.626) / 1392.832
=-0.336814

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.

Chesswood Group has a M-score of -4.87 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 0.00 mean?
Chesswood Group (CHWWQ) has a Beneish M-Score of 0.00 as of Aug. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Chesswood Group and its competitors.
Is Chesswood Group's Beneish M-Score too high?
Chesswood Group's current Beneish M-Score is 0.00. Overall, Chesswood Group has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Chesswood Group's Beneish M-Score compare to BWMY and V?
Chesswood Group's Beneish M-Score of 0.00 can be compared against companies in the Credit Services 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 Chesswood Group and its competitors. Chesswood Group's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chesswood Group stock overvalued right now?
Chesswood Group (CHWWQ) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Chesswood Group's overall GF Score™ is 12/100. 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 Chesswood Group (CHWWQ), the current Beneish M-Score is 0.00 as of Aug. 02, 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.

Chesswood Group Business Description

Address 1133 Yonge Street, Suite 603, Toronto, ON, CAN, M4T 2Y7
Chesswood Group Ltd is a holding company whose subsidiaries engage in the business of specialty finance (including equipment finance throughout North America, and vehicle finance in Canada), as well as the origination and management of private credit alternatives for North American investors. The company's operations consist of U.S. Equipment Financing Segment, Canadian Equipment Financing Segment, Canadian Auto Financing Segment, and Asset Management Segment. The US Equipment Financing business, which is the key revenue driver, is located in the US and is involved in small-ticket equipment leasing and lending to small and medium-sized businesses.
12GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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