CNTMD (ConnectM Technology Solutions) Beneish M-Score: -1.93 (As of Jun. 29, 2026)


CNTMD ConnectM Technology Solutions Inc CNTMD
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What is ConnectM Technology Solutions Beneish M-Score?

ConnectM Technology Solutions CNTMD +10.99% 4 Beneish M-Score is -1.93 as of Jun. 29, 2026. GuruFocus rates CNTMD with a GF Score™ of 4/100. The stock has 3 warning signs investors should review. Among 2,631 Software companies, ConnectM Technology Solutions ranks worse than 78.37% 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 -1.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CNTMD' s Beneish M-Score Range Over the Past 10 Years
Min: -6.84   Med: -2.01   Max: -1.35
Current: -1.93

During the past 5 years, the highest Beneish M-Score of ConnectM Technology Solutions was -1.35. The lowest was -6.84. And the median was -2.01.

ConnectM Technology Solutions Beneish M-Score Historical Data

* Premium members only.

The historical data trend for ConnectM Technology Solutions'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.

ConnectM Technology Solutions Beneish M-Score Chart

ConnectM Technology Solutions Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 -5.32 -1.35

ConnectM Technology Solutions Quarterly Data
Dec21 Dec22 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 0.00 -6.84 -2.01 -1.35 -1.93

CNTMD vs FUSE, VTSI, LGCL: Beneish M-Score Comparison

For the Software - Application subindustry, ConnectM Technology Solutions'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.

ConnectM Technology Solutions Beneish M-Score vs Software Industry

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

* The bar in red indicates where ConnectM Technology Solutions's Beneish M-Score falls into.


CNTMD
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ConnectM Technology Solutions Inc CNTMD
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ConnectM Technology Solutions 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 ConnectM Technology Solutions 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 * 0.5889+0.528 * 0.9507+0.404 * 1.1467+0.892 * 1.3333+0.115 * 8.2359
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9085+4.679 * -0.100497-0.327 * 0.3145
=-1.93

* 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 $3.21 Mil.
Revenue was 8.173 + 9.63 + 8.707 + 8.511 = $35.02 Mil.
Gross Profit was 1.865 + 2.604 + 2.875 + 2.973 = $10.32 Mil.
Total Current Assets was $8.45 Mil.
Total Assets was $39.82 Mil.
Property, Plant and Equipment(Net PPE) was $19.61 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.11 Mil.
Selling, General, & Admin. Expense(SGA) was $22.31 Mil.
Total Current Liabilities was $35.87 Mil.
Long-Term Debt & Capital Lease Obligation was $1.76 Mil.
Net Income was -6.946 + -4.537 + -1.146 + -3.544 = $-16.17 Mil.
Non Operating Income was -2.87 + -1.515 + 1.977 + 0.015 = $-2.39 Mil.
Cash Flow from Operations was -2.811 + -3.096 + -2.492 + -1.379 = $-9.78 Mil.
 Total Receivables was $4.09 Mil.
Revenue was 8.988 + 6.272 + 5.998 + 5.009 = $26.27 Mil.
Gross Profit was 3.014 + 0.576 + 1.797 + 1.97 = $7.36 Mil.
Total Current Assets was $8.31 Mil.
Total Assets was $12.76 Mil.
Property, Plant and Equipment(Net PPE) was $1.16 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.91 Mil.
Selling, General, & Admin. Expense(SGA) was $18.42 Mil.
Total Current Liabilities was $36.93 Mil.
Long-Term Debt & Capital Lease Obligation was $1.39 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)
=(3.209 / 35.021) / (4.087 / 26.267)
=0.091631 / 0.155594
=0.5889

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)
=(7.357 / 26.267) / (10.317 / 35.021)
=0.280085 / 0.294595
=0.9507

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 - (8.449 + 19.609) / 39.822) / (1 - (8.311 + 1.158) / 12.755)
=0.295415 / 0.257624
=1.1467

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
=35.021 / 26.267
=1.3333

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))
=(0.913 / (0.913 + 1.158)) / (1.109 / (1.109 + 19.609))
=0.44085 / 0.053528
=8.2359

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)
=(22.305 / 35.021) / (18.415 / 26.267)
=0.636904 / 0.70107
=0.9085

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)
=((1.756 + 35.872) / 39.822) / ((1.391 + 36.928) / 12.755)
=0.944905 / 3.004234
=0.3145

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
=(-16.173 - -2.393 - -9.778) / 39.822
=-0.100497

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.

ConnectM Technology Solutions has a M-score of -1.93 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 -1.93 mean?
ConnectM Technology Solutions (CNTMD) has a Beneish M-Score of -1.93 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ConnectM Technology Solutions and its competitors. According to the industry distribution chart, ConnectM Technology Solutions ranks #2062 out of 2631 companies in the Software industry, placing it in the top 78.4%.
Is ConnectM Technology Solutions' Beneish M-Score too high?
ConnectM Technology Solutions' current Beneish M-Score is -1.93. Based on the distribution chart, ConnectM Technology Solutions ranks #2062 out of 2631 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, ConnectM Technology Solutions has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.
How does ConnectM Technology Solutions' Beneish M-Score compare to FUSE and VTSI?
According to the Software industry distribution chart, ConnectM Technology Solutions ranks #2062 out of 2631 companies for Beneish M-Score. This places ConnectM Technology Solutions 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 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 ConnectM Technology Solutions and its competitors. ConnectM Technology Solutions's current Beneish M-Score is -1.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ConnectM Technology Solutions stock overvalued right now?
ConnectM Technology Solutions (CNTMD) has a current Beneish M-Score of -1.93. The current Beneish M-Score is -1.93. ConnectM Technology Solutions' overall GF Score™ is 4/100 with 3 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 ConnectM Technology Solutions (CNTMD), the current Beneish M-Score is -1.93 as of Jun. 29, 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.

ConnectM Technology Solutions Business Description

Address 2 Mount Royal Avenue, Suite 550, Marlborough, MA, USA, 01752
ConnectM Technology Solutions Inc is a clean energy technology & solutions provider. It provides residential & light commercial buildings & all-electric original equipment manufacturers (OEMs) with a proprietary digital platform to accelerate the transition to solar and all-electric heating, cooling, & transportation. The company's reportable segments are: Owned Service Network, Managed Solutions, Distributed Energy & Renewables, Transportation, Logistics, and Corporate & Strategic Assets. The majority of its revenue is generated from the owned service network segment, which consists of its owned service providers who use the company's technology platform, which provides maintenance, repair, & installation guidance & optimization services to homeowners & light commercial building owners.
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