CVVRF (Vertical Exploration) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


What is Vertical Exploration Beneish M-Score?

Vertical Exploration CVVRF Beneish M-Score is 0.00 as of Jun. 25, 2026. The stock has 1 warning sign investors should review. Among 685 Metals & Mining companies, Vertical Exploration ranks worse than 145985.26% 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.

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

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

Vertical Exploration Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Vertical Exploration'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.

Vertical Exploration Beneish M-Score Chart

Vertical Exploration Annual Data
Trend Feb16 Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Vertical Exploration Quarterly Data
Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25
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 0.00 0.00 0.00 0.00 0.00

Vertical Exploration Beneish M-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Vertical Exploration'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.

Vertical Exploration Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Vertical Exploration's Beneish M-Score distribution charts can be found below:

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


Vertical Exploration 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 Vertical Exploration 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Nov25) TTM:Last Year (Nov24) TTM:
Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -0.009 + -0.009 + -0.009 + -0.01 = $-0.04 Mil.
Total Current Assets was $0.05 Mil.
Total Assets was $4.28 Mil.
Property, Plant and Equipment(Net PPE) was $4.23 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.04 Mil.
Selling, General, & Admin. Expense(SGA) was $0.15 Mil.
Total Current Liabilities was $0.58 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.071 + -0.074 + -0.071 + -0.09 = $-0.31 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -0.108 + -0.017 + -0.041 + -0.024 = $-0.19 Mil.
 Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -0.009 + -0.01 + -0.01 + -0.01 = $-0.04 Mil.
Total Current Assets was $0.04 Mil.
Total Assets was $4.20 Mil.
Property, Plant and Equipment(Net PPE) was $4.15 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.04 Mil.
Selling, General, & Admin. Expense(SGA) was $0.19 Mil.
Total Current Liabilities was $0.40 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
=(0.003 / 0) / (0.004 / 0)
= /
=

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)
=(-0.039 / 0) / (-0.037 / 0)
= /
=

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 - (0.053 + 4.231) / 4.284) / (1 - (0.044 + 4.152) / 4.196)
=0 / 0
=

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
=0 / 0
=

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))
=(0.039 / (0.039 + 4.152)) / (0.037 / (0.037 + 4.231))
=0.009306 / 0.008669
=

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)
=(0.151 / 0) / (0.192 / 0)
= /
=

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 + 0.582) / 4.284) / ((0 + 0.401) / 4.196)
=0.135854 / 0.095567
=

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
=(-0.306 - 0 - -0.19) / 4.284
=-0.027077

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Vertical Exploration (CVVRF) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vertical Exploration and its competitors. According to the industry distribution chart, Vertical Exploration ranks #999999 out of 685 companies in the Metals & Mining industry.
Is Vertical Exploration's Beneish M-Score too high?
Vertical Exploration's current Beneish M-Score is 0.00. Based on the distribution chart, Vertical Exploration ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers.
How does Vertical Exploration's Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, Vertical Exploration ranks #999999 out of 685 companies for Beneish M-Score. This places Vertical Exploration 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 Vertical Exploration and its competitors. Vertical Exploration'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 Vertical Exploration stock overvalued right now?
Vertical Exploration (CVVRF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 Vertical Exploration (CVVRF), the current Beneish M-Score is 0.00 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.

Vertical Exploration Business Description

Other Exchanges VERT:Canada
Address 789 West Pender Street, Suite 1240, Vancouver, BC, CAN, V6C 1H2
Vertical Exploration Inc is a junior mining company. It is engaged in the acquisition, exploration development, and evaluation of mineral properties in Canada. It has one project, namely St. Onge Wollastonite, located in Quebec, Canada.