BrainChip Holdings (FRA:24YA) Beneish M-Score: -2.42 (As of Jun. 25, 2026)


FRA:24YA BrainChip Holdings Ltd FRA:24YA
33 GF Score
Price €3.76
! 1 Warning Sign
View Full Analysis

What is BrainChip Holdings Beneish M-Score?

BrainChip Holdings FRA:24YA -1.57% 33 Beneish M-Score is -2.42 as of Jun. 25, 2026. GuruFocus rates FRA:24YA with a GF Score™ of 33/100. The stock has 1 warning sign investors should review. Among 987 Semiconductors companies, BrainChip Holdings ranks worse than 50.66% 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 -2.42 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:24YA' s Beneish M-Score Range Over the Past 10 Years
Min: -5.24   Med: -2.42   Max: 22.93
Current: -2.42

During the past 13 years, the highest Beneish M-Score of BrainChip Holdings was 22.93. The lowest was -5.24. And the median was -2.42.

BrainChip Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BrainChip 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.

BrainChip Holdings Beneish M-Score Chart

BrainChip Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.21 -1.99 10.54 -5.24 -2.42

BrainChip Holdings Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 10.54 0.00 -5.24 0.00 -2.42

FRA:24YA vs NVDA, AVGO, MU: Beneish M-Score Comparison

For the Semiconductors subindustry, BrainChip 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.

BrainChip Holdings Beneish M-Score vs Semiconductors Industry

For the Semiconductors industry and Technology sector, BrainChip Holdings's Beneish M-Score distribution charts can be found below:

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


FRA:24YA
33GF Score
BrainChip Holdings Ltd FRA:24YA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BrainChip 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 BrainChip 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 * 0.128+0.528 * -2.4199+0.404 * 0.6012+0.892 * 4.2395+0.115 * 0.876
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.1733+4.679 * -0.115493-0.327 * 0.7221
=-2.68

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was €0.49 Mil.
Revenue was €1.61 Mil.
Gross Profit was €0.23 Mil.
Total Current Assets was €28.24 Mil.
Total Assets was €29.16 Mil.
Property, Plant and Equipment(Net PPE) was €0.79 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.47 Mil.
Selling, General, & Admin. Expense(SGA) was €14.51 Mil.
Total Current Liabilities was €2.48 Mil.
Long-Term Debt & Capital Lease Obligation was €0.31 Mil.
Net Income was €-17.48 Mil.
Gross Profit was €-0.93 Mil.
Cash Flow from Operations was €-13.19 Mil.
 Total Receivables was €0.91 Mil.
Revenue was €0.38 Mil.
Gross Profit was €-0.13 Mil.
Total Current Assets was €20.66 Mil.
Total Assets was €22.01 Mil.
Property, Plant and Equipment(Net PPE) was €1.19 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.58 Mil.
Selling, General, & Admin. Expense(SGA) was €19.75 Mil.
Total Current Liabilities was €2.23 Mil.
Long-Term Debt & Capital Lease Obligation was €0.68 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)
=(0.491 / 1.611) / (0.905 / 0.38)
=0.30478 / 2.381579
=0.128

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)
=(-0.129 / 0.38) / (0.226 / 1.611)
=-0.339474 / 0.140286
=-2.4199

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 - (28.243 + 0.786) / 29.162) / (1 - (20.658 + 1.185) / 22.01)
=0.004561 / 0.007587
=0.6012

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
=1.611 / 0.38
=4.2395

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))
=(0.579 / (0.579 + 1.185)) / (0.471 / (0.471 + 0.786))
=0.328231 / 0.374702
=0.876

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)
=(14.511 / 1.611) / (19.753 / 0.38)
=9.007449 / 51.981579
=0.1733

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)
=((0.307 + 2.478) / 29.162) / ((0.683 + 2.228) / 22.01)
=0.095501 / 0.132258
=0.7221

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
=(-17.482 - -0.927 - -13.187) / 29.162
=-0.115493

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.

BrainChip Holdings has a M-score of -2.68 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 -2.42 mean?
BrainChip Holdings (FRA:24YA) has a Beneish M-Score of -2.42 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BrainChip Holdings and its competitors. According to the industry distribution chart, BrainChip Holdings ranks #500 out of 987 companies in the Semiconductors industry, placing it in the top 50.7%.
Is BrainChip Holdings' Beneish M-Score too high?
BrainChip Holdings' current Beneish M-Score is -2.42. Based on the distribution chart, BrainChip Holdings ranks #500 out of 987 companies in the Semiconductors industry, which is below the industry midpoint. Overall, BrainChip Holdings has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does BrainChip Holdings' Beneish M-Score compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, BrainChip Holdings ranks #500 out of 987 companies for Beneish M-Score. This places BrainChip Holdings 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 Semiconductors company?
A good Beneish M-Score depends on the Semiconductors 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 BrainChip Holdings and its competitors. BrainChip Holdings's current Beneish M-Score is -2.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BrainChip Holdings stock overvalued right now?
BrainChip Holdings (FRA:24YA) has a current Beneish M-Score of -2.42. The current Beneish M-Score is -2.42. BrainChip Holdings' overall GF Score™ is 33/100 with 1 warning sign 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 BrainChip Holdings (FRA:24YA), the current Beneish M-Score is -2.42 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.

BrainChip Holdings Business Description

Address 210 George Street, Level 8, Sydney, NSW, AUS, 2000
BrainChip Holdings Ltd is engaged in the development of software and hardware accelerated solutions for artificial intelligence and machine learning applications. The company is working on the development of its Akida Neuromorphic Processor to provide a complete ultra-low power and fast AI Edge Network for vision, audio, olfactory, and smart transducer applications. Its products are Akida IP, Akida 2nd Generation, MetaTF, Akida1000 Ref SoC, and Akida Enablement Platforms. It operates through one segment namely, the technological development of designs.
33GF Score

Get the complete analysis for FRA:24YA

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

€3.76
Price