HBEIF (Honey Badger Silver) Beneish M-Score: 0.00 (As of Jul. 01, 2026)


HBEIF Honey Badger Silver Inc HBEIF
28 GF Score
Price $0.53
! 1 Warning Sign
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What is Honey Badger Silver Beneish M-Score?

Honey Badger Silver HBEIF -1.24% 28 Beneish M-Score is 0.00 as of Jul. 01, 2026. GuruFocus rates HBEIF with a GF Score™ of 28/100. The stock has 1 warning sign investors should review. Among 683 Metals & Mining companies, Honey Badger Silver ranks worse than 146412.74% 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 Honey Badger Silver's Beneish M-Score or its related term are showing as below:

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

Honey Badger Silver Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Honey Badger Silver'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.

Honey Badger Silver Beneish M-Score Chart

Honey Badger Silver Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Honey Badger Silver 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 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 0.00 0.00 0.00 0.00

HBEIF vs HL: Beneish M-Score Comparison

For the Other Precious Metals & Mining subindustry, Honey Badger Silver'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.

Honey Badger Silver Beneish M-Score vs Metals & Mining Industry

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

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


HBEIF
28GF Score
Honey Badger Silver Inc HBEIF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Honey Badger Silver 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 Honey Badger Silver 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $0.12 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was -0.011 + 0 + 0 + 0 = $-0.01 Mil.
Total Current Assets was $4.00 Mil.
Total Assets was $4.04 Mil.
Property, Plant and Equipment(Net PPE) was $0.04 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $2.07 Mil.
Total Current Liabilities was $0.91 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.757 + -0.36 + -1.1 + -0.202 = $-2.42 Mil.
Non Operating Income was 0.079 + 0.334 + 0.004 + 0.004 = $0.42 Mil.
Cash Flow from Operations was -1.953 + -0.693 + -0.726 + -0.13 = $-3.50 Mil.
 Total Receivables was $0.02 Mil.
Revenue was 0 + 0 + 0 + 0 = $0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = $0.00 Mil.
Total Current Assets was $0.36 Mil.
Total Assets was $0.36 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 $1.04 Mil.
Total Current Liabilities was $0.26 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)
=(0.117 / 0) / (0.015 / 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) / (-0.011 / 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 - (3.998 + 0.037) / 4.035) / (1 - (0.357 + 0) / 0.357)
=0 / 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 / 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 / (0 + 0)) / (0.011 / (0.011 + 0.037))
= / 0.229167
=

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)
=(2.071 / 0) / (1.042 / 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)
=((0 + 0.907) / 4.035) / ((0 + 0.261) / 0.357)
=0.224783 / 0.731092
=

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
=(-2.419 - 0.421 - -3.502) / 4.035
=0.164064

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?
Honey Badger Silver (HBEIF) has a Beneish M-Score of 0.00 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Honey Badger Silver and its competitors. According to the industry distribution chart, Honey Badger Silver ranks #999999 out of 683 companies in the Metals & Mining industry.
Is Honey Badger Silver's Beneish M-Score too high?
Honey Badger Silver's current Beneish M-Score is 0.00. Based on the distribution chart, Honey Badger Silver ranks #999999 out of 683 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Honey Badger Silver has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does Honey Badger Silver's Beneish M-Score compare to HL?
According to the Metals & Mining industry distribution chart, Honey Badger Silver ranks #999999 out of 683 companies for Beneish M-Score. This places Honey Badger Silver 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 Honey Badger Silver and its competitors. Honey Badger Silver'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 Honey Badger Silver stock overvalued right now?
Honey Badger Silver (HBEIF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Honey Badger Silver's overall GF Score™ is 28/100 with 1 warning sign 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 Honey Badger Silver (HBEIF), the current Beneish M-Score is 0.00 as of Jul. 01, 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.

Honey Badger Silver Business Description

Other Exchanges 1QA:GermanyTUF:Canada
Address 620-1111 Melville Street, Vancouver, BC, CAN, V6E 3V6
Honey Badger Silver Inc is a mineral exploration company operating in Canada. The company is principally engaged in the acquisition, exploration, and development of silver properties. The project portfolio includes the Thunder Bay Silver Project, Yukon Silver Properties, Sunrise lake project, Clear lake Project, Nanisivik Project, and others.
28GF Score

Get the complete analysis for HBEIF

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

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