Hybrid Power Solutions (FRA:E092) Beneish M-Score: -3.93 (As of Jun. 27, 2026)


What is Hybrid Power Solutions Beneish M-Score?

Hybrid Power Solutions FRA:E092 -3.64% Beneish M-Score is -3.93 as of Jun. 27, 2026. The stock has 9 warning signs investors should review. Among 2,926 Industrial Products companies, Hybrid Power Solutions ranks better than 96.45% 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 -3.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:E092' s Beneish M-Score Range Over the Past 10 Years
Min: -14.09   Med: -4.98   Max: -1.83
Current: -3.93

During the past 5 years, the highest Beneish M-Score of Hybrid Power Solutions was -1.83. The lowest was -14.09. And the median was -4.98.

Hybrid Power Solutions Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hybrid Power Solutions'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.

Hybrid Power Solutions Beneish M-Score Chart

Hybrid Power Solutions Annual Data
Trend May21 May22 May23 May24 May25
Beneish M-Score
0.00 0.00 0.00 -3.85 -8.05

Hybrid Power Solutions Quarterly Data
May21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
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 -6.02 -8.05 -14.09 -8.38 -3.93

FRA:E092 vs VRT, BE, NVT: Beneish M-Score Comparison

For the Electrical Equipment & Parts subindustry, Hybrid Power Solutions'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.

Hybrid Power Solutions Beneish M-Score vs Industrial Products Industry

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

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


Hybrid Power Solutions 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 Hybrid Power Solutions 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 * 2.6821+0.528 * -0.7878+0.404 * 0.4657+0.892 * 0.3229+0.115 * 0.4654
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2542+4.679 * -0.192338-0.327 * 1.7853
=-3.96

* 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 (Feb26) TTM:Last Year (Feb25) TTM:
Total Receivables was €0.32 Mil.
Revenue was 0.302 + 0.172 + 0.186 + 0.07 = €0.73 Mil.
Gross Profit was 0.048 + 0.023 + 0.014 + -0.285 = €-0.20 Mil.
Total Current Assets was €1.00 Mil.
Total Assets was €1.25 Mil.
Property, Plant and Equipment(Net PPE) was €0.25 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.10 Mil.
Selling, General, & Admin. Expense(SGA) was €1.13 Mil.
Total Current Liabilities was €2.01 Mil.
Long-Term Debt & Capital Lease Obligation was €0.46 Mil.
Net Income was -0.472 + -0.537 + -0.391 + -0.324 = €-1.72 Mil.
Non Operating Income was 0.03 + -0.102 + -0.007 + 0.004 = €-0.08 Mil.
Cash Flow from Operations was -0.598 + -0.271 + -0.349 + -0.19 = €-1.41 Mil.
 Total Receivables was €0.37 Mil.
Revenue was 0.417 + 0.696 + 0.69 + 0.458 = €2.26 Mil.
Gross Profit was 0.085 + 0.173 + 0.246 + -0.016 = €0.49 Mil.
Total Current Assets was €1.46 Mil.
Total Assets was €1.81 Mil.
Property, Plant and Equipment(Net PPE) was €0.31 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.05 Mil.
Selling, General, & Admin. Expense(SGA) was €2.79 Mil.
Total Current Liabilities was €1.82 Mil.
Long-Term Debt & Capital Lease Obligation was €0.17 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)
=(0.323 / 0.73) / (0.373 / 2.261)
=0.442466 / 0.164971
=2.6821

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)
=(0.488 / 2.261) / (-0.2 / 0.73)
=0.215834 / -0.273973
=-0.7878

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 - (0.997 + 0.246) / 1.253) / (1 - (1.464 + 0.314) / 1.809)
=0.007981 / 0.017137
=0.4657

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
=0.73 / 2.261
=0.3229

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))
=(0.05 / (0.05 + 0.314)) / (0.103 / (0.103 + 0.246))
=0.137363 / 0.295129
=0.4654

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)
=(1.131 / 0.73) / (2.793 / 2.261)
=1.549315 / 1.235294
=1.2542

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)
=((0.459 + 2.008) / 1.253) / ((0.174 + 1.821) / 1.809)
=1.968875 / 1.102819
=1.7853

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
=(-1.724 - -0.075 - -1.408) / 1.253
=-0.192338

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.

Hybrid Power Solutions has a M-score of -3.96 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 -3.93 mean?
Hybrid Power Solutions (FRA:E092) has a Beneish M-Score of -3.93 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hybrid Power Solutions and its competitors. According to the industry distribution chart, Hybrid Power Solutions ranks #104 out of 2926 companies in the Industrial Products industry, placing it in the top 3.6%.
Is Hybrid Power Solutions' Beneish M-Score too high?
Hybrid Power Solutions' current Beneish M-Score is -3.93. Based on the distribution chart, Hybrid Power Solutions ranks #104 out of 2926 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers.
How does Hybrid Power Solutions' Beneish M-Score compare to VRT and BE?
According to the Industrial Products industry distribution chart, Hybrid Power Solutions ranks #104 out of 2926 companies for Beneish M-Score. This places Hybrid Power Solutions in the top 4% 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 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 Hybrid Power Solutions and its competitors. Hybrid Power Solutions's current Beneish M-Score is -3.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hybrid Power Solutions stock overvalued right now?
Hybrid Power Solutions (FRA:E092) has a current Beneish M-Score of -3.93. The current Beneish M-Score is -3.93. 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 Hybrid Power Solutions (FRA:E092), the current Beneish M-Score is -3.93 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.

Hybrid Power Solutions Business Description

Address 333 Terminal Avenue, Suite 208, Vancouver, BC, CAN, V6A 4C1
Hybrid Power Solutions Inc is a Canadian clean energy company specializing in producing, developing, and installing direct-to-consumer clean technology products such as portable power packs and stationary energy storage. It mainly designs and manufactures patent-pending portable battery systems and customized energy solutions for a variety of industrial markets, including the mining, railway, public transit, and construction sectors. It also has a franchise network of solar power installers that operate under the Company's trademark and offer the sale and installation of the Company's products. Geographically, the company operates in Canada; Revenue is generated in three geographical markets, being Canada, United States, France, and Netherlands.