DWAY (DriveItAway Holdings) Beneish M-Score: -25.91 (As of Jun. 24, 2026)


What is DriveItAway Holdings Beneish M-Score?

DriveItAway Holdings DWAY -33.87% Beneish M-Score is -25.91 as of Jun. 24, 2026. The stock has 5 warning signs investors should review. Among 1,020 Business Services companies, DriveItAway Holdings ranks better than 99.61% 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 -25.91 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

DWAY' s Beneish M-Score Range Over the Past 10 Years
Min: -25.91   Med: -12.05   Max: 5.59
Current: -25.91

During the past 5 years, the highest Beneish M-Score of DriveItAway Holdings was 5.59. The lowest was -25.91. And the median was -12.05.

DriveItAway Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for DriveItAway Holdings'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.

DriveItAway Holdings Beneish M-Score Chart

DriveItAway Holdings Annual Data
Trend Sep21 Sep22 Sep23 Sep24 Sep25
Beneish M-Score
0.00 0.00 0.00 -7.70 5.59

DriveItAway Holdings 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 -9.74 -14.36 5.59 -9.06 -25.91

DWAY vs MWG, AITX, AIHS: Beneish M-Score Comparison

For the Rental & Leasing Services subindustry, DriveItAway Holdings'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.

DriveItAway Holdings Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, DriveItAway Holdings's Beneish M-Score distribution charts can be found below:

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


DriveItAway Holdings 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 DriveItAway Holdings 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 * 2.0506+0.528 * 3.9322+0.404 * 0+0.892 * 1.6506+0.115 * 0.2485
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5743+4.679 * -5.116-0.327 * 7.625
=-25.91

* 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 $0.04 Mil.
Revenue was 0.378 + 0.282 + 0.329 + 0.206 = $1.20 Mil.
Gross Profit was 0.055 + 0.084 + -0.039 + 0.002 = $0.10 Mil.
Total Current Assets was $0.13 Mil.
Total Assets was $0.25 Mil.
Property, Plant and Equipment(Net PPE) was $0.12 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.11 Mil.
Selling, General, & Admin. Expense(SGA) was $0.80 Mil.
Total Current Liabilities was $9.22 Mil.
Long-Term Debt & Capital Lease Obligation was $0.11 Mil.
Net Income was -1.52 + 0.549 + -0.92 + -3.991 = $-5.88 Mil.
Non Operating Income was -0.963 + 0.962 + -0.389 + -3.417 = $-3.81 Mil.
Cash Flow from Operations was -0.303 + -0.177 + -0.217 + -0.099 = $-0.80 Mil.
 Total Receivables was $0.01 Mil.
Revenue was 0.211 + 0.242 + 0.164 + 0.107 = $0.72 Mil.
Gross Profit was 0.03 + 0.099 + 0.07 + 0.044 = $0.24 Mil.
Total Current Assets was $0.07 Mil.
Total Assets was $1.00 Mil.
Property, Plant and Equipment(Net PPE) was $0.84 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.11 Mil.
Selling, General, & Admin. Expense(SGA) was $0.85 Mil.
Total Current Liabilities was $4.78 Mil.
Long-Term Debt & Capital Lease Obligation was $0.11 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)
=(0.044 / 1.195) / (0.013 / 0.724)
=0.03682 / 0.017956
=2.0506

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)
=(0.243 / 0.724) / (0.102 / 1.195)
=0.335635 / 0.085356
=3.9322

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 - (0.127 + 0.123) / 0.25) / (1 - (0.068 + 0.841) / 1)
=0 / 0.091
=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
=1.195 / 0.724
=1.6506

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))
=(0.113 / (0.113 + 0.841)) / (0.112 / (0.112 + 0.123))
=0.118449 / 0.476596
=0.2485

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)
=(0.802 / 1.195) / (0.846 / 0.724)
=0.67113 / 1.168508
=0.5743

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)
=((0.111 + 9.222) / 0.25) / ((0.113 + 4.783) / 1)
=37.332 / 4.896
=7.625

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
=(-5.882 - -3.807 - -0.796) / 0.25
=-5.116

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.

DriveItAway Holdings has a M-score of -25.91 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 -25.91 mean?
DriveItAway Holdings (DWAY) has a Beneish M-Score of -25.91 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on DriveItAway Holdings and its competitors. According to the industry distribution chart, DriveItAway Holdings ranks #4 out of 1020 companies in the Business Services industry, placing it in the top 0.40000000000001%.
Is DriveItAway Holdings' Beneish M-Score too high?
DriveItAway Holdings' current Beneish M-Score is -25.91. Based on the distribution chart, DriveItAway Holdings ranks #4 out of 1020 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers.
How does DriveItAway Holdings' Beneish M-Score compare to MWG and AITX?
According to the Business Services industry distribution chart, DriveItAway Holdings ranks #4 out of 1020 companies for Beneish M-Score. This places DriveItAway Holdings in the top 0% 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 Business Services company?
A good Beneish M-Score depends on the Business 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 DriveItAway Holdings and its competitors. DriveItAway Holdings's current Beneish M-Score is -25.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DriveItAway Holdings stock overvalued right now?
Based on GuruFocus' analysis, DriveItAway Holdings (DWAY) is currently considered Possible Value Trap. The stock's GF Value™ is $0.07, compared to a current price of $0.02 — trading 70.7% below its estimated fair value. The current Beneish M-Score is -25.91. 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 DriveItAway Holdings (DWAY), the current Beneish M-Score is -25.91 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.

DriveItAway Holdings Business Description

Address 3201 Market Street, Suite 200/201, Philadelphia, PA, USA, 10104
DriveItAway Holdings Inc provides dealer focused mobility platform that enables car dealers to sell more vehicles seamlessly through eCommerce, with its 'Pay as You Go' app-based subscription program. DIA provides a comprehensive turnkey, solutions-driven program with proprietary mobile technology and driver app, insurance coverages, and training to get dealerships up and running quickly and profitably in emerging online sales opportunities.