ELVG (Elvictor Group) Beneish M-Score: 2.09 (As of Jun. 26, 2026)

What is Elvictor Group Beneish M-Score?

Elvictor Group ELVG 44 Beneish M-Score is 2.09 as of Jun. 26, 2026. GuruFocus rates ELVG with a GF Score™ of 44/100 and a GF Value™ of $11.40 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 1,020 Business Services companies, Elvictor Group ranks worse than 97.25% 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.

Warning Sign:

Beneish M-Score 2.09 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ELVG' s Beneish M-Score Range Over the Past 10 Years
Min: -4.06 Med: -1.89 Max: 129.6
Current: 2.09

During the past 9 years, the highest Beneish M-Score of Elvictor Group was 129.60. The lowest was -4.06. And the median was -1.89.

Elvictor Group Beneish M-Score Related Terms

Elvictor Group Beneish M-Score Historical Data

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The historical data trend for Elvictor 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.

Elvictor Group Beneish M-Score Chart

Elvictor Group Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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0.00

-3.56

1.98

-4.06

Elvictor 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															-1.21	0.33	-1.20	-4.06	2.09

ELVG vs CRE, ADMQ, QPRC: Beneish M-Score Comparison

For the Specialty Business Services subindustry, Elvictor 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.

Elvictor Group Beneish M-Score vs Business Services Industry

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

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

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44GF Score

Elvictor Group Inc ELVG

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

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Elvictor 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 Elvictor Group 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 * 0.4351

0.528 * 1.0912

0.404 * 13.4332

0.892 * 1.1473

0.115 * 2.7852

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0544

4.679 * -0.052269

0.327 * 1.182

2.09

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $0.67 Mil.
Revenue was 0.985 + 0.564 + 0.646 + 0.616 = $2.81 Mil.
Gross Profit was 0.6 + 0.417 + 0.49 + 0.455 = $1.96 Mil.
Total Current Assets was $0.85 Mil.
Total Assets was $2.76 Mil.
Property, Plant and Equipment(Net PPE) was $0.23 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.03 Mil.
Selling, General, & Admin. Expense(SGA) was $2.00 Mil.
Total Current Liabilities was $2.09 Mil.
Long-Term Debt & Capital Lease Obligation was $0.17 Mil.
Net Income was 0.136 + -0.156 + 0.007 + -0.087 = $-0.10 Mil.
Non Operating Income was -0.005 + 0.05 + 0 + -0.029 = $0.02 Mil.
Cash Flow from Operations was -0.356 + 0.258 + 0.143 + -0.017 = $0.03 Mil.

Total Receivables was $1.34 Mil.
Revenue was 0.602 + 0.629 + 0.645 + 0.574 = $2.45 Mil.
Gross Profit was 0.443 + 0.478 + 0.5 + 0.445 = $1.87 Mil.
Total Current Assets was $1.59 Mil.
Total Assets was $1.94 Mil.
Property, Plant and Equipment(Net PPE) was $0.26 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.14 Mil.
Selling, General, & Admin. Expense(SGA) was $1.65 Mil.
Total Current Liabilities was $1.14 Mil.
Long-Term Debt & Capital Lease Obligation was $0.21 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)
	=	(0.67 / 2.811)	/	(1.342 / 2.45)
	=	0.238349	/	0.547755
	=	0.4351

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)
	=	(1.866 / 2.45)	/	(1.962 / 2.811)
	=	0.761633	/	0.697972
	=	1.0912

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 - (0.847 + 0.231) / 2.755)	/	(1 - (1.59 + 0.264) / 1.942)
	=	0.608711	/	0.045314
	=	13.4332

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
	=	2.811	/	2.45
	=	1.1473

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))
	=	(0.141 / (0.141 + 0.264))	/	(0.033 / (0.033 + 0.231))
	=	0.348148	/	0.125
	=	2.7852

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)
	=	(2.001 / 2.811)	/	(1.654 / 2.45)
	=	0.711846	/	0.675102
	=	1.0544

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)
	=	((0.168 + 2.094) / 2.755)	/	((0.206 + 1.143) / 1.942)
	=	0.821053	/	0.694645
	=	1.182

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
	=	(-0.1 - 0.016	-	0.028)	/	2.755
	=	-0.052269

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.

Elvictor Group has a M-score of 2.09 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 2.09 mean?

Elvictor Group (ELVG) has a Beneish M-Score of 2.09 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Elvictor Group and its competitors. According to the industry distribution chart, Elvictor Group ranks #992 out of 1020 companies in the Business Services industry, placing it in the top 97.3%.

Is Elvictor Group's Beneish M-Score too high?

Elvictor Group's current Beneish M-Score is 2.09. Based on the distribution chart, Elvictor Group ranks #992 out of 1020 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, Elvictor Group has a GF Score™ of 44/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Elvictor Group's Beneish M-Score compare to CRE and ADMQ?

According to the Business Services industry distribution chart, Elvictor Group ranks #992 out of 1020 companies for Beneish M-Score. This places Elvictor Group 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 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 Elvictor Group and its competitors. Elvictor Group's current Beneish M-Score is 2.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Elvictor Group stock overvalued right now?

Based on GuruFocus' analysis, Elvictor Group (ELVG) is currently considered Possible Value Trap. The stock's GF Value™ is $11.40, compared to a current price of $6.30 — trading 44.7% below its estimated fair value. The current Beneish M-Score is 2.09. Elvictor Group's overall GF Score™ is 44/100 with 5 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 Elvictor Group (ELVG), the current Beneish M-Score is 2.09 as of Jun. 26, 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.

Is Elvictor Group (ELVG) Overvalued in 2026?

Based on GuruFocus' analysis, Elvictor Group stock appears to be undervalued. The current stock price of $6.30 is trading 44.7% below its estimated GF Value™ of $11.40. GuruFocus considers Elvictor Group to be Possible Value Trap.

Key valuation signals for ELVG:

Beneish M-Score: 2.09
GF Value™: $11.40 vs. price of $6.30 (44.7% below fair value)
GF Score™: 44/100 with 5 warning signs

No single metric tells the full story. See the ELVG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Elvictor Group Business Description

Industry Industrials Business Services

Comparable Companies CRE ADMQ QPRC JFIL DPUI SFHG SMX WHLM CAHO THH CTAS LSE:REL TSX:TRI CPRT GPN ULS TSX:RBA ASX:BXB XAMS:WKL LSE:RTO

Address Vassileos Constantinou 79, Vari, Attiki, GRC, 16672

Website https://www.elvictorgroup.com

Elvictor Group Inc is engaged in providing crewing and crew management services for the shipping industry, including the sourcing, recruitment, selection, deployment, scheduling, training, and ongoing management of seafarers. The Company also offers administrative services such as payroll processing, travel arrangements, and verification of insurance coverage for onboarded seafarers. Its services cover a wide range of crew management activities, including preliminary screening, matching crew with ship owners, submission of employment proposals, medical coordination, and maintenance of records related to travel and Standards of Training, Certification and Watchkeeping (STCW) documentation. Its services are Seafarer Training, SaaS Cloud Ecosystem, and Crew Management Cloud Ecosystem.

44GF Score

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$6.30

Price

$11.40

GF Value

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