IVDN (Innovative Designs) Beneish M-Score: -2.40 (As of Jun. 25, 2026)

What is Innovative Designs Beneish M-Score?

Innovative Designs IVDN -7.73% 50 Beneish M-Score is -2.40 as of Jun. 25, 2026. GuruFocus rates IVDN with a GF Score™ of 50/100 and a GF Value™ of $0.52 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 1,087 Retail - Cyclical companies, Innovative Designs ranks worse than 63.57% 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

IVDN' s Beneish M-Score Range Over the Past 10 Years
Min: -4.94 Med: -2.45 Max: 55.07
Current: -2.4

During the past 13 years, the highest Beneish M-Score of Innovative Designs was 55.07. The lowest was -4.94. And the median was -2.45.

Innovative Designs Beneish M-Score Related Terms

Innovative Designs Beneish M-Score Historical Data

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The historical data trend for Innovative Designs'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.

Innovative Designs Beneish M-Score Chart

Innovative Designs Annual Data

Trend

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

Oct24

Oct25

Beneish M-Score

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-4.35

8.17

-0.67

2.66

-1.14

Innovative Designs Quarterly Data
	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25	Apr25	Jul25	Oct25	Jan26	Apr26
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	-1.14	-3.45	-2.40

IVDN vs DBGI, LSEB, JEM: Beneish M-Score Comparison

For the Apparel Retail subindustry, Innovative Designs'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.

Innovative Designs Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Innovative Designs's Beneish M-Score distribution charts can be found below:

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

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Innovative Designs Inc IVDN

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Innovative Designs 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 Innovative Designs 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 * 0.7536

0.528 * 0.9913

0.404 * 0.9852

0.892 * 1.2165

0.115 * 0.4864

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9603

4.679 * 0.023265

0.327 * 0.7837

-2.40

This Year (Apr26) TTM:

Last Year (Apr25) TTM:

Total Receivables was $0.66 Mil.
Revenue was 0.809 + 0.632 + 0.812 + 0.613 = $2.87 Mil.
Gross Profit was 0.394 + 0.385 + 0.39 + 0.257 = $1.43 Mil.
Total Current Assets was $1.66 Mil.
Total Assets was $2.54 Mil.
Property, Plant and Equipment(Net PPE) was $0.80 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $0.89 Mil.
Total Current Liabilities was $0.20 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was 0.106 + 0.162 + 0.192 + 0.062 = $0.52 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -0.353 + 0.227 + 0.139 + 0.45 = $0.46 Mil.

Total Receivables was $0.72 Mil.
Revenue was 0.796 + 0.544 + 0.738 + 0.278 = $2.36 Mil.
Gross Profit was 0.4 + 0.313 + 0.361 + 0.088 = $1.16 Mil.
Total Current Assets was $1.27 Mil.
Total Assets was $2.02 Mil.
Property, Plant and Equipment(Net PPE) was $0.69 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $0.76 Mil.
Total Current Liabilities was $0.12 Mil.
Long-Term Debt & Capital Lease Obligation was $0.08 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)
	=	(0.661 / 2.866)	/	(0.721 / 2.356)
	=	0.230635	/	0.306027
	=	0.7536

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)
	=	(1.162 / 2.356)	/	(1.426 / 2.866)
	=	0.493209	/	0.497558
	=	0.9913

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 - (1.661 + 0.797) / 2.536)	/	(1 - (1.267 + 0.688) / 2.018)
	=	0.030757	/	0.031219
	=	0.9852

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
	=	2.866	/	2.356
	=	1.2165

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))
	=	(0.005 / (0.005 + 0.688))	/	(0.012 / (0.012 + 0.797))
	=	0.007215	/	0.014833
	=	0.4864

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)
	=	(0.889 / 2.866)	/	(0.761 / 2.356)
	=	0.310188	/	0.323005
	=	0.9603

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 + 0.196) / 2.536)	/	((0.083 + 0.116) / 2.018)
	=	0.077287	/	0.098612
	=	0.7837

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
	=	(0.522 - 0	-	0.463)	/	2.536
	=	0.023265

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.

Innovative Designs has a M-score of -2.40 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 -2.40 mean?

Innovative Designs (IVDN) has a Beneish M-Score of -2.40 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Innovative Designs and its competitors. According to the industry distribution chart, Innovative Designs ranks #691 out of 1087 companies in the Retail - Cyclical industry, placing it in the top 63.6%.

Is Innovative Designs' Beneish M-Score too high?

Innovative Designs' current Beneish M-Score is -2.40. Based on the distribution chart, Innovative Designs ranks #691 out of 1087 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Innovative Designs has a GF Score™ of 50/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Innovative Designs' Beneish M-Score compare to DBGI and LSEB?

According to the Retail - Cyclical industry distribution chart, Innovative Designs ranks #691 out of 1087 companies for Beneish M-Score. This places Innovative Designs 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 Retail - Cyclical company?

A good Beneish M-Score depends on the Retail - Cyclical 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 Innovative Designs and its competitors. Innovative Designs's current Beneish M-Score is -2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Innovative Designs stock overvalued right now?

Based on GuruFocus' analysis, Innovative Designs (IVDN) is currently considered Significantly Undervalued. The stock's GF Value™ is $0.52, compared to a current price of $0.25 — trading 52.1% below its estimated fair value. The current Beneish M-Score is -2.40. Innovative Designs' overall GF Score™ is 50/100 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 Innovative Designs (IVDN), the current Beneish M-Score is -2.40 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.

Is Innovative Designs (IVDN) Overvalued in 2026?

Based on GuruFocus' analysis, Innovative Designs stock appears to be undervalued. The current stock price of $0.25 is trading 52.1% below its estimated GF Value™ of $0.52. GuruFocus considers Innovative Designs to be Significantly Undervalued.

Key valuation signals for IVDN:

Beneish M-Score: -2.40
GF Value™: $0.52 vs. price of $0.25 (52.1% below fair value)
GF Score™: 50/100 with 1 warning sign

No single metric tells the full story. See the IVDN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Innovative Designs Business Description

Industry Consumer Cyclical Retail - Cyclical

Comparable Companies DBGI LSEB JEM LVLU BIRD BRIA DXLG XMAD:ITX TJX TSE:9983 ROST BURL LSE:NXT BOM:500251 LULU TSX:ATZ GAP URBN TSX:GRGD LSE:JD.

Address 124 Cherry Street, Pittsburgh, PA, USA, 15223

Website https://www.idigear.com

Innovative Designs Inc markets cold-weather recreational and industrial clothing products, as well as house wrap, which is made from INSULTEX, a low-density foamed polyethylene with buoyancy, scent block, and thermal resistant properties. The business activity of the firm is operated through two segments Apparel and Housewrap. The Apparel segment offers a range of cold-weather apparel and related items. The Housewrap segment includes its INSULTEX House Wrap and its own seam tape. It generates maximum revenue from the Housewrap segment. Majority of the revenue is from USA and Canada.

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$0.25

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GF Value

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