IBATF (International Battery Metals) Beneish M-Score: -4.76 (As of Jun. 25, 2026)


IBATF International Battery Metals Ltd IBATF
33 GF Score
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What is International Battery Metals Beneish M-Score?

International Battery Metals IBATF 33 Beneish M-Score is -4.76 as of Jun. 25, 2026. GuruFocus rates IBATF with a GF Score™ of 33/100. The stock has 4 warning signs investors should review. Among 685 Metals & Mining companies, International Battery Metals ranks better than 96.5% 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 -4.76 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

IBATF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.76   Med: -4.76   Max: -4.76
Current: -4.76

During the past 13 years, the highest Beneish M-Score of International Battery Metals was -4.76. The lowest was -4.76. And the median was -4.76.

International Battery Metals Beneish M-Score Historical Data

* Premium members only.

The historical data trend for International Battery Metals'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.

International Battery Metals Beneish M-Score Chart

International Battery Metals Annual Data
Trend Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Mar24 Mar25 Mar26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 -4.76

International Battery Metals Quarterly Data
Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 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 -1.41 -0.28 -2.51 -4.76

International Battery Metals Beneish M-Score Competitor Comparison

For the Other Industrial Metals & Mining subindustry, International Battery Metals'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.

International Battery Metals Beneish M-Score vs Metals & Mining Industry

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

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


IBATF
33GF Score
International Battery Metals Ltd IBATF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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International Battery Metals 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 International Battery Metals 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 * 1.0414+0.528 * 0.1488+0.404 * 0.7501+0.892 * 0.1883+0.115 * 0.8181
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 4.9207+4.679 * -0.096223-0.327 * 0.5844
=-4.73

* 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 $0.09 Mil.
Revenue was 0.063 + 0.03 + 0.064 + 0.007 = $0.16 Mil.
Gross Profit was 0.063 + 0.008 + -0.72 + -0.761 = $-1.41 Mil.
Total Current Assets was $10.59 Mil.
Total Assets was $39.76 Mil.
Property, Plant and Equipment(Net PPE) was $26.98 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.09 Mil.
Selling, General, & Admin. Expense(SGA) was $8.46 Mil.
Total Current Liabilities was $1.39 Mil.
Long-Term Debt & Capital Lease Obligation was $0.04 Mil.
Net Income was -5.298 + 0.754 + 2.978 + 1.685 = $0.12 Mil.
Non Operating Income was -1.883 + 3.768 + 6.404 + 5.323 = $13.61 Mil.
Cash Flow from Operations was -1.749 + -2.157 + -2.427 + -3.334 = $-9.67 Mil.
 Total Receivables was $0.46 Mil.
Revenue was -0.01 + -0.004 + 0.639 + 0.246 = $0.87 Mil.
Gross Profit was -0.01 + -0.004 + -0.665 + -0.435 = $-1.11 Mil.
Total Current Assets was $12.53 Mil.
Total Assets was $44.48 Mil.
Property, Plant and Equipment(Net PPE) was $28.68 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.63 Mil.
Selling, General, & Admin. Expense(SGA) was $9.13 Mil.
Total Current Liabilities was $2.59 Mil.
Long-Term Debt & Capital Lease Obligation was $0.14 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)
=(0.09 / 0.164) / (0.459 / 0.871)
=0.54878 / 0.52698
=1.0414

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)
=(-1.114 / 0.871) / (-1.41 / 0.164)
=-1.27899 / -8.597561
=0.1488

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 - (10.589 + 26.983) / 39.762) / (1 - (12.53 + 28.682) / 44.478)
=0.055078 / 0.07343
=0.7501

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
=0.164 / 0.871
=0.1883

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))
=(2.628 / (2.628 + 28.682)) / (3.085 / (3.085 + 26.983))
=0.083935 / 0.102601
=0.8181

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)
=(8.46 / 0.164) / (9.131 / 0.871)
=51.585366 / 10.483352
=4.9207

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 + 1.386) / 39.762) / ((0.143 + 2.594) / 44.478)
=0.035964 / 0.061536
=0.5844

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
=(0.119 - 13.612 - -9.667) / 39.762
=-0.096223

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.

International Battery Metals has a M-score of -4.73 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 -4.76 mean?
International Battery Metals (IBATF) has a Beneish M-Score of -4.76 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on International Battery Metals and its competitors. According to the industry distribution chart, International Battery Metals ranks #24 out of 685 companies in the Metals & Mining industry, placing it in the top 3.5%.
Is International Battery Metals' Beneish M-Score too high?
International Battery Metals' current Beneish M-Score is -4.76. Based on the distribution chart, International Battery Metals ranks #24 out of 685 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, International Battery Metals has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does International Battery Metals' Beneish M-Score compare to competitors?
According to the Metals & Mining industry distribution chart, International Battery Metals ranks #24 out of 685 companies for Beneish M-Score. This places International Battery Metals 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 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 International Battery Metals and its competitors. International Battery Metals's current Beneish M-Score is -4.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Battery Metals stock overvalued right now?
International Battery Metals (IBATF) has a current Beneish M-Score of -4.76. The current Beneish M-Score is -4.76. International Battery Metals' overall GF Score™ is 33/100 with 4 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 International Battery Metals (IBATF), the current Beneish M-Score is -4.76 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.

International Battery Metals Business Description

Other Exchanges 8RE:GermanyIBAT:Canada
Address 666 Burard Street, 2500 Park Place, Vancouver, BC, CAN, V6C 2X8
International Battery Metals Ltd is a technology and manufacturing company focused on environmentally responsible methods of extracting lithium compounds from brine. Its current operations consist of the development of the MDLE Plant, which can be rapidly deployed and assembled onsite at a customer's property. The MDLE Plant is designed to process brine solutions to extract lithium chloride, which can be further processed into lithium carbonate and used for industrial purposes or as a battery component. Geographically, it carries out all its operations in the United States.
33GF Score

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

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