DNQAF (Denali Capital Acquisition) Beneish M-Score: 0.00 (As of Jun. 25, 2026)

What is Denali Capital Acquisition Beneish M-Score?

Denali Capital Acquisition DNQAF +4.42% 18 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates DNQAF with a GF Score™ of 18/100. The stock has 6 warning signs investors should review.

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 Denali Capital Acquisition's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Denali Capital Acquisition was 0.00. The lowest was 0.00. And the median was 0.00.

Denali Capital Acquisition Beneish M-Score Related Terms

Denali Capital Acquisition Beneish M-Score Historical Data

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The historical data trend for Denali Capital Acquisition'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.

Denali Capital Acquisition Beneish M-Score Chart

Denali Capital Acquisition Annual Data

Trend

Dec22

Dec23

Dec24

Beneish M-Score

0.00

Denali Capital Acquisition Quarterly Data
	Jan22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25
Beneish M-Score	Get a 7-Day Free Trial									0.00	0.00	0.00	0.00	0.00

DNQAF vs ATMV, IGTA, DYCQ: Beneish M-Score Comparison

For the Shell Companies subindustry, Denali Capital Acquisition'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.

Denali Capital Acquisition Beneish M-Score vs Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Denali Capital Acquisition's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Denali Capital Acquisition's Beneish M-Score falls into.

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18GF Score

Denali Capital Acquisition Corp DNQAF

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Denali Capital Acquisition 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 Denali Capital Acquisition for today is based on a combination of the following eight different indices:

-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 *

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was $0.00 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $0.02 Mil.
Total Assets was $9.04 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.00 Mil.
Total Current Liabilities was $7.55 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $-0.17 Mil.
Gross Profit was $1.58 Mil.
Cash Flow from Operations was $-0.75 Mil.

Total Receivables was $0.00 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $0.21 Mil.
Total Assets was $50.69 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.00 Mil.
Total Current Liabilities was $5.60 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 / 0)	/	(0 / 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 / 0)	/	(0 / 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 - (0.017 + 0) / 9.038)	/	(1 - (0.209 + 0) / 50.687)
	=	0.998119	/	0.995877
	=

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 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=

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 / 0)	/	(0 / 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 + 7.547) / 9.038)	/	((0 + 5.604) / 50.687)
	=	0.83503	/	0.110561
	=

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
	=	(-0.167 - 1.578	-	-0.753)	/	9.038
	=	-0.109759

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?

Denali Capital Acquisition (DNQAF) 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 Denali Capital Acquisition and its competitors.

Is Denali Capital Acquisition's Beneish M-Score too high?

Denali Capital Acquisition's current Beneish M-Score is 0.00. Overall, Denali Capital Acquisition has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.

How does Denali Capital Acquisition's Beneish M-Score compare to ATMV and IGTA?

Denali Capital Acquisition's Beneish M-Score of 0.00 can be compared against companies in the Diversified Financial 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 Diversified Financial Services company?

A good Beneish M-Score depends on the Diversified Financial 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 Denali Capital Acquisition and its competitors. Denali Capital Acquisition'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 Denali Capital Acquisition stock overvalued right now?

Denali Capital Acquisition (DNQAF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Denali Capital Acquisition's overall GF Score™ is 18/100 with 6 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 Denali Capital Acquisition (DNQAF), 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.

Denali Capital Acquisition Business Description

Industry Financial Services Diversified Financial Services

Comparable Companies ATMV IGTA DYCQ TRXA BRRN WTMA MCAG ALSAF CNXX FORL CCCX XKRX:319400 AACT EVAC CEPF ANSC WFHG EQV AAM GTEN

Address 437 Madison Avenue, 27th Floor, New York, NY, USA, 10022

Denali Capital Acquisition Corp is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.

18GF Score

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

$12.05

Price

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