DRKOF (Martello Technologies Group) Beneish M-Score: -4.98 (As of Jun. 24, 2026)


What is Martello Technologies Group Beneish M-Score?

Martello Technologies Group DRKOF Beneish M-Score is -4.98 as of Jun. 24, 2026. The stock has 6 warning signs investors should review. Among 2,633 Software companies, Martello Technologies Group ranks better than 95.56% 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 -4.98 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

DRKOF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.98   Med: -2.98   Max: -1.96
Current: -4.98

During the past 13 years, the highest Beneish M-Score of Martello Technologies Group was -1.96. The lowest was -4.98. And the median was -2.98.

Martello Technologies Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Martello Technologies Group'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.

Martello Technologies Group Beneish M-Score Chart

Martello Technologies Group Annual Data
Trend Apr17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.98 -3.25 -4.07 -2.85 -4.98

Martello Technologies Group Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.85 -3.92 -4.95 -5.97 -4.98

DRKOF vs MSFT, ORCL, PLTR: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Martello Technologies Group'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.

Martello Technologies Group Beneish M-Score vs Software Industry

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

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


Martello Technologies 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 Martello Technologies 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 * 0.6929+0.528 * 1.0041+0.404 * 0+0.892 * 0.8284+0.115 * 1.0233
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1122+4.679 * -0.212665-0.327 * 2.8717
=-4.94

* 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 $2.06 Mil.
Revenue was 2.039 + 2.166 + 2.168 + 2.259 = $8.63 Mil.
Gross Profit was 1.843 + 1.818 + 1.831 + 1.922 = $7.41 Mil.
Total Current Assets was $5.16 Mil.
Total Assets was $5.29 Mil.
Property, Plant and Equipment(Net PPE) was $0.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.72 Mil.
Selling, General, & Admin. Expense(SGA) was $6.15 Mil.
Total Current Liabilities was $4.44 Mil.
Long-Term Debt & Capital Lease Obligation was $11.19 Mil.
Net Income was 0.093 + -2.584 + -5.389 + -1.56 = $-9.44 Mil.
Non Operating Income was -0.056 + -0.196 + -4.196 + 0.189 = $-4.26 Mil.
Cash Flow from Operations was -0.453 + -0.407 + -1.652 + -1.544 = $-4.06 Mil.
 Total Receivables was $3.58 Mil.
Revenue was 2.352 + 2.61 + 2.687 + 2.771 = $10.42 Mil.
Gross Profit was 2.026 + 2.24 + 2.311 + 2.409 = $8.99 Mil.
Total Current Assets was $8.64 Mil.
Total Assets was $13.39 Mil.
Property, Plant and Equipment(Net PPE) was $0.21 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.37 Mil.
Selling, General, & Admin. Expense(SGA) was $6.68 Mil.
Total Current Liabilities was $5.36 Mil.
Long-Term Debt & Capital Lease Obligation was $8.43 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)
=(2.055 / 8.632) / (3.58 / 10.42)
=0.238068 / 0.34357
=0.6929

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)
=(8.986 / 10.42) / (7.414 / 8.632)
=0.86238 / 0.858897
=1.0041

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 - (5.16 + 0.13) / 5.29) / (1 - (8.642 + 0.212) / 13.394)
=0 / 0.338958
=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
=8.632 / 10.42
=0.8284

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))
=(1.371 / (1.371 + 0.212)) / (0.716 / (0.716 + 0.13))
=0.866077 / 0.846336
=1.0233

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)
=(6.153 / 8.632) / (6.678 / 10.42)
=0.712813 / 0.640883
=1.1122

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)
=((11.19 + 4.44) / 5.29) / ((8.426 + 5.355) / 13.394)
=2.954631 / 1.028894
=2.8717

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
=(-9.44 - -4.259 - -4.056) / 5.29
=-0.212665

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.

Martello Technologies Group has a M-score of -4.94 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 -4.98 mean?
Martello Technologies Group (DRKOF) has a Beneish M-Score of -4.98 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Martello Technologies Group and its competitors. According to the industry distribution chart, Martello Technologies Group ranks #117 out of 2633 companies in the Software industry, placing it in the top 4.4%.
Is Martello Technologies Group's Beneish M-Score too high?
Martello Technologies Group's current Beneish M-Score is -4.98. Based on the distribution chart, Martello Technologies Group ranks #117 out of 2633 companies in the Software industry, which is in the top quartile — a strong position relative to peers.
How does Martello Technologies Group's Beneish M-Score compare to MSFT and ORCL?
According to the Software industry distribution chart, Martello Technologies Group ranks #117 out of 2633 companies for Beneish M-Score. This places Martello Technologies Group in the top 4% 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 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 Martello Technologies Group and its competitors. Martello Technologies Group's current Beneish M-Score is -4.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Martello Technologies Group stock overvalued right now?
Martello Technologies Group (DRKOF) has a current Beneish M-Score of -4.98. The current Beneish M-Score is -4.98. 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 Martello Technologies Group (DRKOF), the current Beneish M-Score is -4.98 as of Jun. 24, 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.

Martello Technologies Group Business Description

Other Exchanges MTLO:Canada
Address 390 March Road, Unit 110, Ottawa, ON, CAN, K2K 0G7
Martello Technologies Group Inc develops and sells software products and solutions that optimize the performance of real-time applications on cloud and enterprise networks, while giving IT teams and service providers control and visibility of their entire IT infrastructure from a single platform. Martello's products include Vantage DX, a SaaS-based digital experience management solution purpose-built for collaboration services, including Microsoft 365, Teams, and Zoom, and Legacy Software Products, which include Gizmo, iQ, and LiveMap. In addition, the company develops Mitel Performance Analytics (MPA) software. The group operates in two segments: Modern Workplace Optimization, which derives maximum revenue, and Mitel. Geographically, it generates maximum revenue from Canada.