CYMHF (Cymat Technologies) Beneish M-Score: -4.79 (As of Jul. 09, 2026)


What is Cymat Technologies Beneish M-Score?

Cymat Technologies CYMHF +16.67% Beneish M-Score is -4.79 as of Jul. 09, 2026. The stock has 5 warning signs investors should review. Among 2,916 Industrial Products companies, Cymat Technologies ranks better than 98.08% 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 -4.79 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CYMHF' s Beneish M-Score Range Over the Past 10 Years
Min: -284.51   Med: -4.63   Max: 7.24
Current: -4.79

During the past 13 years, the highest Beneish M-Score of Cymat Technologies was 7.24. The lowest was -284.51. And the median was -4.63.

Cymat Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cymat Technologies'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.

Cymat Technologies Beneish M-Score Chart

Cymat Technologies Annual Data
Trend Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.79 7.24 -9.91 -1.38 -6.35

Cymat Technologies Quarterly Data
Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26
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 -6.15 -6.35 -6.66 -11.49 -4.79

CYMHF vs CRS, ATI, MLI: Beneish M-Score Comparison

For the Metal Fabrication subindustry, Cymat Technologies'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.

Cymat Technologies Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Cymat Technologies's Beneish M-Score distribution charts can be found below:

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


Cymat Technologies 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 Cymat Technologies 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 * 2.9444+0.528 * -0.9552+0.404 * 0.8072+0.892 * 0.3493+0.115 * 0.6286
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 3.0856+4.679 * -0.411789-0.327 * 0.9668
=-4.70

* 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 (Jan26) TTM:Last Year (Jan25) TTM:
Total Receivables was $0.22 Mil.
Revenue was 0.447 + 0.18 + 0.141 + 0.164 = $0.93 Mil.
Gross Profit was 0.03 + 0.084 + -0.168 + -0.172 = $-0.23 Mil.
Total Current Assets was $1.30 Mil.
Total Assets was $2.44 Mil.
Property, Plant and Equipment(Net PPE) was $1.12 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.40 Mil.
Selling, General, & Admin. Expense(SGA) was $1.98 Mil.
Total Current Liabilities was $4.90 Mil.
Long-Term Debt & Capital Lease Obligation was $1.02 Mil.
Net Income was -0.784 + -0.713 + -0.869 + -0.895 = $-3.26 Mil.
Non Operating Income was 0.008 + -0.003 + -0.011 + 0.019 = $0.01 Mil.
Cash Flow from Operations was -0.309 + -1.099 + -0.294 + -0.566 = $-2.27 Mil.
 Total Receivables was $0.21 Mil.
Revenue was 0.804 + 0.242 + 1.453 + 0.169 = $2.67 Mil.
Gross Profit was 0.23 + -0.108 + 0.403 + 0.093 = $0.62 Mil.
Total Current Assets was $0.53 Mil.
Total Assets was $1.97 Mil.
Property, Plant and Equipment(Net PPE) was $1.43 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.28 Mil.
Selling, General, & Admin. Expense(SGA) was $1.84 Mil.
Total Current Liabilities was $4.04 Mil.
Long-Term Debt & Capital Lease Obligation was $0.90 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)
=(0.216 / 0.932) / (0.21 / 2.668)
=0.23176 / 0.078711
=2.9444

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)
=(0.618 / 2.668) / (-0.226 / 0.932)
=0.231634 / -0.242489
=-0.9552

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 - (1.3 + 1.123) / 2.443) / (1 - (0.527 + 1.425) / 1.972)
=0.008187 / 0.010142
=0.8072

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
=0.932 / 2.668
=0.3493

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))
=(0.283 / (0.283 + 1.425)) / (0.402 / (0.402 + 1.123))
=0.165691 / 0.263607
=0.6286

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)
=(1.979 / 0.932) / (1.836 / 2.668)
=2.123391 / 0.688156
=3.0856

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)
=((1.017 + 4.902) / 2.443) / ((0.899 + 4.043) / 1.972)
=2.422841 / 2.506085
=0.9668

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
=(-3.261 - 0.013 - -2.268) / 2.443
=-0.411789

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.

Cymat Technologies has a M-score of -4.70 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 -4.79 mean?
Cymat Technologies (CYMHF) has a Beneish M-Score of -4.79 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cymat Technologies and its competitors. According to the industry distribution chart, Cymat Technologies ranks #56 out of 2916 companies in the Industrial Products industry, placing it in the top 1.9%.
Is Cymat Technologies' Beneish M-Score too high?
Cymat Technologies' current Beneish M-Score is -4.79. Based on the distribution chart, Cymat Technologies ranks #56 out of 2916 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers.
How does Cymat Technologies' Beneish M-Score compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Cymat Technologies ranks #56 out of 2916 companies for Beneish M-Score. This places Cymat Technologies in the top 2% 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 Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Cymat Technologies and its competitors. Cymat Technologies's current Beneish M-Score is -4.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cymat Technologies stock overvalued right now?
Based on GuruFocus' analysis, Cymat Technologies (CYMHF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.04, compared to a current price of $0.07 — trading 75% above its estimated fair value. The current Beneish M-Score is -4.79. 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 Cymat Technologies (CYMHF), the current Beneish M-Score is -4.79 as of Jul. 09, 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.

Cymat Technologies Business Description

Other Exchanges CYM:Canada
Address 6320 Danville Road, Unit 2, Mississauga, ON, CAN, L5T 2L7
Cymat Technologies Ltd is a materials technology company that manufactures and sells stabilized aluminum foam (SAF) products to various countries. Its proprietary technology produces lightweight, porous aluminum foam that offers energy absorption, thermal and acoustic insulation, and blast mitigation. Its products are used in the automotive and industrial markets. Cymat serves automotive, architecture, defense, and general industrial sectors by providing customizable aluminum foam solutions. Revenue arises mainly from the sale of SAF based on customer contracts. Geographically Europe and UK generates majority of its revenue.