GRSFF (Greencastle Resources) Beneish M-Score: -3.34 (As of Jul. 03, 2026)

What is Greencastle Resources Beneish M-Score?

Greencastle Resources GRSFF Beneish M-Score is -3.34 as of Jul. 03, 2026. The stock has 6 warning signs investors should review. Among 822 Oil & Gas companies, Greencastle Resources ranks better than 83.94% 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 -3.34 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

GRSFF' s Beneish M-Score Range Over the Past 10 Years
Min: -9.11 Med: -2.52 Max: 89.25
Current: -3.34

During the past 13 years, the highest Beneish M-Score of Greencastle Resources was 89.25. The lowest was -9.11. And the median was -2.52.

Greencastle Resources Beneish M-Score Related Terms

Greencastle Resources Beneish M-Score Historical Data

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The historical data trend for Greencastle Resources'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.

Greencastle Resources Beneish M-Score Chart

Greencastle Resources Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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0.00

-2.99

-1.93

-1.06

Greencastle Resources 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															1.77	-1.35	-1.97	-1.06	-3.34

GRSFF vs COP, EOG, FANG: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Greencastle Resources'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.

Greencastle Resources Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Greencastle Resources's Beneish M-Score distribution charts can be found below:

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

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Greencastle Resources 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 Greencastle Resources 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 * 0.323

0.528 * 1

0.404 * 4.9579

0.892 * 1.4483

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.7293

4.679 * -0.105109

0.327 * 5.9358

-3.34

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $0.20 Mil.
Revenue was 0.01 + 0.008 + 0.009 + 0.015 = $0.04 Mil.
Gross Profit was 0.01 + 0.008 + 0.009 + 0.015 = $0.04 Mil.
Total Current Assets was $1.60 Mil.
Total Assets was $1.70 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.84 Mil.
Total Current Liabilities was $0.34 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.33 + -0.942 + 0.335 + -0.012 = $-0.95 Mil.
Non Operating Income was 0.252 + -0.93 + 0.405 + 0.05 = $-0.22 Mil.
Cash Flow from Operations was -0.309 + -0.018 + -0.093 + -0.127 = $-0.55 Mil.

Total Receivables was $0.42 Mil.
Revenue was 0.01 + 0.003 + 0.008 + 0.008 = $0.03 Mil.
Gross Profit was 0.01 + 0.003 + 0.008 + 0.008 = $0.03 Mil.
Total Current Assets was $1.70 Mil.
Total Assets was $1.72 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.34 Mil.
Total Current Liabilities was $0.06 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)
	=	(0.196 / 0.042)	/	(0.419 / 0.029)
	=	4.666667	/	14.448276
	=	0.323

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)
	=	(0.029 / 0.029)	/	(0.042 / 0.042)
	=	1	/	1
	=	1

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 - (1.595 + 0) / 1.703)	/	(1 - (1.698 + 0) / 1.72)
	=	0.063417	/	0.012791
	=	4.9579

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
	=	0.042	/	0.029
	=	1.4483

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))	/	(0 / (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)
	=	(0.839 / 0.042)	/	(0.335 / 0.029)
	=	19.97619	/	11.551724
	=	1.7293

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 + 0.335) / 1.703)	/	((0 + 0.057) / 1.72)
	=	0.196712	/	0.03314
	=	5.9358

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
	=	(-0.949 - -0.223	-	-0.547)	/	1.703
	=	-0.105109

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.

Greencastle Resources has a M-score of -3.34 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 -3.34 mean?

Greencastle Resources (GRSFF) has a Beneish M-Score of -3.34 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Greencastle Resources and its competitors. According to the industry distribution chart, Greencastle Resources ranks #132 out of 822 companies in the Oil & Gas industry, placing it in the top 16.1%.

Is Greencastle Resources' Beneish M-Score too high?

Greencastle Resources' current Beneish M-Score is -3.34. Based on the distribution chart, Greencastle Resources ranks #132 out of 822 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers.

How does Greencastle Resources' Beneish M-Score compare to COP and EOG?

According to the Oil & Gas industry distribution chart, Greencastle Resources ranks #132 out of 822 companies for Beneish M-Score. This places Greencastle Resources in the top 16% 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 Oil & Gas company?

A good Beneish M-Score depends on the Oil & Gas 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 Greencastle Resources and its competitors. Greencastle Resources's current Beneish M-Score is -3.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Greencastle Resources stock overvalued right now?

Based on GuruFocus' analysis, Greencastle Resources (GRSFF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.03, compared to a current price of $0.01 — trading 76% below its estimated fair value. The current Beneish M-Score is -3.34. 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 Greencastle Resources (GRSFF), the current Beneish M-Score is -3.34 as of Jul. 03, 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.

Greencastle Resources Business Description

Industry Energy Oil & Gas

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Other Exchanges VGN:Canada

Address 82 Richmond Street East, Suite 200, The Canadian Venture Building, Toronto, ON, CAN, M5C 1P1

Website https://www.greencastle.ltd

Greencastle Resources Ltd is a diversified company with interests in gold and base metals exploration and oil and gas exploration and royalties, as well as in strategic and non-strategic investments in other companies that are traded on the North American exchanges. The company's reportable segments include Investments in Private and Public companies, Oil and Gas Interests, Mining Interests. Its investment segment comprises its investment in marketable securities and investment in private and public companies. The oil and gas segment comprises its oil and gas interests. The mining segment comprises its mining interests in Canada and in the USA.