1911 Gold (FRA:2KY) Beneish M-Score: 0.00 (As of Jun. 25, 2026)

What is 1911 Gold Beneish M-Score?

1911 Gold FRA:2KY -5.25% 12 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates FRA:2KY with a GF Score™ of 12/100. The stock has 2 warning signs investors should review. Among 685 Metals & Mining companies, 1911 Gold ranks worse than 145985.26% 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.

The historical rank and industry rank for 1911 Gold's Beneish M-Score or its related term are showing as below:

During the past 9 years, the highest Beneish M-Score of 1911 Gold was -4.17. The lowest was -7.27. And the median was -4.41.

1911 Gold Beneish M-Score Related Terms

1911 Gold Beneish M-Score Historical Data

* Premium members only.

The historical data trend for 1911 Gold'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.

1911 Gold Beneish M-Score Chart

1911 Gold Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

Get a 7-Day Free Trial

0.00

-7.27

-4.49

0.00

1911 Gold 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															0.00	0.00	0.00	0.00	0.00

FRA:2KY vs NEM, AU: Beneish M-Score Comparison

For the Gold subindustry, 1911 Gold'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.

1911 Gold Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, 1911 Gold's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where 1911 Gold's Beneish M-Score falls into.

Save Embed

12GF Score

1911 Gold Corp FRA:2KY

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

View Full Analysis

1911 Gold 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 1911 Gold 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 (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was €0.72 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €17.20 Mil.
Total Assets was €46.91 Mil.
Property, Plant and Equipment(Net PPE) was €29.46 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.31 Mil.
Selling, General, & Admin. Expense(SGA) was €7.32 Mil.
Total Current Liabilities was €8.20 Mil.
Long-Term Debt & Capital Lease Obligation was €10.12 Mil.
Net Income was -6.721 + -8.076 + -3.677 + -1.502 = €-19.98 Mil.
Non Operating Income was 0.951 + 1.106 + 0.913 + 0.83 = €3.80 Mil.
Cash Flow from Operations was -4.623 + -5.64 + -2.592 + -1.679 = €-14.53 Mil.

Total Receivables was €0.00 Mil.
Revenue was 0 + 0 + 0 + 0 = €0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = €0.00 Mil.
Total Current Assets was €3.05 Mil.
Total Assets was €23.30 Mil.
Property, Plant and Equipment(Net PPE) was €19.99 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.19 Mil.
Selling, General, & Admin. Expense(SGA) was €2.89 Mil.
Total Current Liabilities was €1.54 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)
	=	(0.722 / 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 - (17.197 + 29.464) / 46.913)	/	(1 - (3.053 + 19.987) / 23.298)
	=	0.005372	/	0.011074
	=

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))
	=	(0.192 / (0.192 + 19.987))	/	(0.314 / (0.314 + 29.464))
	=	0.009515	/	0.010545
	=

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)
	=	(7.318 / 0)	/	(2.894 / 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)
	=	((10.123 + 8.198) / 46.913)	/	((0 + 1.539) / 23.298)
	=	0.390531	/	0.066057
	=

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
	=	(-19.976 - 3.8	-	-14.534)	/	46.913
	=	-0.197003

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?

1911 Gold (FRA:2KY) 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 1911 Gold and its competitors. According to the industry distribution chart, 1911 Gold ranks #999999 out of 685 companies in the Metals & Mining industry.

Is 1911 Gold's Beneish M-Score too high?

1911 Gold's current Beneish M-Score is 0.00. Based on the distribution chart, 1911 Gold ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, 1911 Gold has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.

How does 1911 Gold's Beneish M-Score compare to NEM and AU?

According to the Metals & Mining industry distribution chart, 1911 Gold ranks #999999 out of 685 companies for Beneish M-Score. This places 1911 Gold 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 Metals & Mining company?

A good Beneish M-Score depends on the Metals & Mining 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 1911 Gold and its competitors. 1911 Gold'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 1911 Gold stock overvalued right now?

1911 Gold (FRA:2KY) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 1911 Gold's overall GF Score™ is 12/100 with 2 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 1911 Gold (FRA:2KY), 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.

1911 Gold Business Description

Industry Basic Materials Metals & Mining

Comparable Companies TSXV:CERT TSX:ELO TSXV:RVG TSXV:PPP TSXV:GHRT TSXV:CBR TSXV:TECT TSXV:PALI TSXV:MFG TSXV:GAL SHSE:601899 NEM TSX:AEM TSX:ABX TSX:WPM AU TSX:FNV HKSE:02259 TSX:K JSE:GFI

Other Exchanges AUMBF:USA AUMB:Canada

Address 400 Burrard Street, Suite 1050, Vancouver, BC, CAN, V6C 3A6

Website https://www.1911gold.com

1911 Gold Corp is engaged in the exploration, extraction and development of precious metals. The company owns and operates the Rice Lake property which holds the True North gold mine and mill, as well as the Apex property near Snow Lake, Manitoba, and the Denton-Keefer property near Timmins, Ontario. It has one operating segment, the Rice Lake property, which is located in Manitoba, Canada.

12GF Score

Get the complete analysis for FRA:2KY

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

€0.36

Price

View FRA:2KY Analysis

See Beneish M-Score data for all stocks →