FTRK (Fast Track Group) Beneish M-Score: -4.54 (As of Jun. 25, 2026)


FTRK Fast Track Group FTRK
21 GF Score
Price $0.46
! 2 Warning Signs
View Full Analysis

What is Fast Track Group Beneish M-Score?

Fast Track Group FTRK +9.15% 21 Beneish M-Score is -4.54 as of Jun. 25, 2026. GuruFocus rates FTRK with a GF Score™ of 21/100. The stock has 2 warning signs investors should review. Among 989 Media - Diversified companies, Fast Track Group ranks better than 94.34% 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 -4.54 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FTRK' s Beneish M-Score Range Over the Past 10 Years
Min: -4.54   Med: -4.54   Max: -4.54
Current: -4.54

During the past 3 years, the highest Beneish M-Score of Fast Track Group was -4.54. The lowest was -4.54. And the median was -4.54.

Fast Track Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Fast Track 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.

Fast Track Group Beneish M-Score Chart

Fast Track Group Annual Data
Trend Feb23 Feb24 Feb25
Beneish M-Score
0.00 0.00 -4.54

Fast Track Group Semi-Annual Data
Feb23 Aug23 Feb24 Aug24 Feb25 Aug25
Beneish M-Score Get a 7-Day Free Trial 0.00 0.00 0.00 -4.54 0.00

FTRK vs STGZ, APHP, AERA: Beneish M-Score Comparison

For the Entertainment subindustry, Fast Track 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.

Fast Track Group Beneish M-Score vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Fast Track Group's Beneish M-Score distribution charts can be found below:

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


FTRK
21GF Score
Fast Track Group FTRK
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fast Track 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 Fast Track Group 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 * 2.4724+0.528 * 1.6239+0.404 * 0+0.892 * 0.7831+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 3.0588+4.679 * -0.649454-0.327 * 0.2529
=-4.54

* 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 (Feb25) TTM:Last Year (Feb24) TTM:
Total Receivables was $0.09 Mil.
Revenue was $0.75 Mil.
Gross Profit was $0.10 Mil.
Total Current Assets was $0.99 Mil.
Total Assets was $1.01 Mil.
Property, Plant and Equipment(Net PPE) was $0.02 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.41 Mil.
Total Current Liabilities was $1.69 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $-0.34 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $0.32 Mil.
 Total Receivables was $0.05 Mil.
Revenue was $0.96 Mil.
Gross Profit was $0.20 Mil.
Total Current Assets was $0.05 Mil.
Total Assets was $0.10 Mil.
Property, Plant and Equipment(Net PPE) was $0.05 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.17 Mil.
Total Current Liabilities was $0.64 Mil.
Long-Term Debt & Capital Lease Obligation was $0.02 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)
=(0.091 / 0.751) / (0.047 / 0.959)
=0.121172 / 0.049009
=2.4724

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)
=(0.197 / 0.959) / (0.095 / 0.751)
=0.205422 / 0.126498
=1.6239

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 - (0.988 + 0.019) / 1.007) / (1 - (0.054 + 0.046) / 0.099)
=0 / -0.010101
=0

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
=0.751 / 0.959
=0.7831

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 / (0 + 0.046)) / (0 / (0 + 0.019))
=0 / 0
=1

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)
=(0.412 / 0.751) / (0.172 / 0.959)
=0.548602 / 0.179353
=3.0588

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)
=((0.002 + 1.693) / 1.007) / ((0.02 + 0.639) / 0.099)
=1.683217 / 6.656566
=0.2529

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
=(-0.335 - 0.001 - 0.318) / 1.007
=-0.649454

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.

Fast Track Group has a M-score of -4.54 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 -4.54 mean?
Fast Track Group (FTRK) has a Beneish M-Score of -4.54 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fast Track Group and its competitors. According to the industry distribution chart, Fast Track Group ranks #56 out of 989 companies in the Media - Diversified industry, placing it in the top 5.7%.
Is Fast Track Group's Beneish M-Score too high?
Fast Track Group's current Beneish M-Score is -4.54. Based on the distribution chart, Fast Track Group ranks #56 out of 989 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Fast Track Group has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Fast Track Group's Beneish M-Score compare to STGZ and APHP?
According to the Media - Diversified industry distribution chart, Fast Track Group ranks #56 out of 989 companies for Beneish M-Score. This places Fast Track Group in the top 6% 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 a Media - Diversified company?
A good Beneish M-Score depends on the Media - Diversified 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 Fast Track Group and its competitors. Fast Track Group's current Beneish M-Score is -4.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fast Track Group stock overvalued right now?
Fast Track Group (FTRK) has a current Beneish M-Score of -4.54. The current Beneish M-Score is -4.54. Fast Track Group's overall GF Score™ is 21/100 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 Fast Track Group (FTRK), the current Beneish M-Score is -4.54 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.

Fast Track Group Business Description

Address 12 Mohamed Sultan Road, No. 4-01, Singapore, SGP, 238961
Fast Track Group is a regional entertainment-focused event management and marketing company that provides a full range of services including experiential marketing, artiste endorsement and management, movie premiere organizations, grand openings, and concerts. It also creates, develops, organizes, hosts, and manages various events and concerts.
21GF Score

Get the complete analysis for FTRK

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

$0.46
Price