RedFlow (FRA:2RF) Beneish M-Score: 0.00 (As of Jun. 27, 2026)


FRA:2RF RedFlow Ltd FRA:2RF
29 GF Score
Price €0.05
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What is RedFlow Beneish M-Score?

RedFlow FRA:2RF 29 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates FRA:2RF with a GF Score™ of 29/100.

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 RedFlow's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of RedFlow was 0.00. The lowest was 0.00. And the median was 0.00.

RedFlow Beneish M-Score Historical Data

* Premium members only.

The historical data trend for RedFlow'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.

RedFlow Beneish M-Score Chart

RedFlow Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.69 -2.94 -0.32 -2.93 -3.18

RedFlow Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
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 0.00 -2.93 0.00 -3.18 0.00

FRA:2RF vs JFTH, SPEC, VRT: Beneish M-Score Comparison

For the Electrical Equipment & Parts subindustry, RedFlow'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.

RedFlow Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, RedFlow's Beneish M-Score distribution charts can be found below:

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


FRA:2RF
29GF Score
RedFlow Ltd FRA:2RF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

RedFlow 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 RedFlow 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 * 2.2703+0.528 * 0.4315+0.404 * 1.2948+0.892 * 0.7079+0.115 * 1.1417
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.4554+4.679 * -0.317775-0.327 * 0.7754
=-3.23

* 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 (Jun23) TTM:Last Year (Jun22) TTM:
Total Receivables was €1.59 Mil.
Revenue was €0.77 Mil.
Gross Profit was €-3.22 Mil.
Total Current Assets was €7.14 Mil.
Total Assets was €8.61 Mil.
Property, Plant and Equipment(Net PPE) was €1.17 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.34 Mil.
Selling, General, & Admin. Expense(SGA) was €5.84 Mil.
Total Current Liabilities was €2.77 Mil.
Long-Term Debt & Capital Lease Obligation was €0.04 Mil.
Net Income was €-8.46 Mil.
Gross Profit was €2.14 Mil.
Cash Flow from Operations was €-7.87 Mil.
 Total Receivables was €0.99 Mil.
Revenue was €1.08 Mil.
Gross Profit was €-1.96 Mil.
Total Current Assets was €10.12 Mil.
Total Assets was €11.37 Mil.
Property, Plant and Equipment(Net PPE) was €0.93 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.33 Mil.
Selling, General, & Admin. Expense(SGA) was €5.67 Mil.
Total Current Liabilities was €4.62 Mil.
Long-Term Debt & Capital Lease Obligation was €0.16 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)
=(1.588 / 0.766) / (0.988 / 1.082)
=2.073107 / 0.913124
=2.2703

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)
=(-1.962 / 1.082) / (-3.219 / 0.766)
=-1.813309 / -4.20235
=0.4315

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 - (7.136 + 1.166) / 8.613) / (1 - (10.117 + 0.933) / 11.367)
=0.036108 / 0.027888
=1.2948

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
=0.766 / 1.082
=0.7079

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))
=(0.325 / (0.325 + 0.933)) / (0.341 / (0.341 + 1.166))
=0.258347 / 0.226277
=1.1417

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)
=(5.837 / 0.766) / (5.665 / 1.082)
=7.620104 / 5.235675
=1.4554

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)
=((0.044 + 2.766) / 8.613) / ((0.161 + 4.622) / 11.367)
=0.326251 / 0.420779
=0.7754

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
=(-8.464 - 2.141 - -7.868) / 8.613
=-0.317775

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.

RedFlow has a M-score of -3.23 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 0.00 mean?
RedFlow (FRA:2RF) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on RedFlow and its competitors.
Is RedFlow's Beneish M-Score too high?
RedFlow's current Beneish M-Score is 0.00. Overall, RedFlow has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does RedFlow's Beneish M-Score compare to JFTH and SPEC?
RedFlow's Beneish M-Score of 0.00 can be compared against companies in the Industrial Products 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 RedFlow and its competitors. RedFlow'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 RedFlow stock overvalued right now?
RedFlow (FRA:2RF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. RedFlow's overall GF Score™ is 29/100. 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 RedFlow (FRA:2RF), the current Beneish M-Score is 0.00 as of Jun. 27, 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.

RedFlow Business Description

Address 1/27 Counihan Road, Seventeen Mile Rocks, Brisbane, QLD, AUS, 4073
RedFlow Ltd consists of the development, manufacture, and sale of its bromine flowing electrolyte battery module (ZBM). The company's batteries provide sustainable energy storage solutions for various applications, including telecommunications, renewables integration, on and off-grid remote power, microgrids and smart grids, and transmission and distribution deferral. Redflow batteries are designed for high cycle-rate, long time-base stationary energy storage applications in the residential, commercial and industrial, and telecommunications sectors, and are scalable from a single battery installation through to grid-scale deployments.
29GF Score

Get the complete analysis for FRA:2RF

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

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