JAMGF (Tuktu Resources) Beneish M-Score: -3.82 (As of Jun. 27, 2026)

What is Tuktu Resources Beneish M-Score?

Tuktu Resources JAMGF Beneish M-Score is -3.82 as of Jun. 27, 2026. The stock has 2 warning signs investors should review. Among 822 Oil & Gas companies, Tuktu Resources ranks better than 91.12% 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 -3.82 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

JAMGF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.82 Med: -1.73 Max: 0.58
Current: -3.82

During the past 13 years, the highest Beneish M-Score of Tuktu Resources was 0.58. The lowest was -3.82. And the median was -1.73.

Tuktu Resources Beneish M-Score Related Terms

Tuktu Resources Beneish M-Score Historical Data

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The historical data trend for Tuktu 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.

Tuktu Resources Beneish M-Score Chart

Tuktu Resources Annual Data

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Dec25

Beneish M-Score

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0.00

0.58

-3.80

Tuktu 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															0.08	-0.56	-2.89	-3.80	-3.82

JAMGF vs COP, EOG, OXY: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Tuktu 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.

Tuktu Resources Beneish M-Score vs Oil & Gas Industry

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

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

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Tuktu 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 Tuktu 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 * 0.6723

0.528 * 0.7895

0.404 * 2.1589

0.892 * 0.829

0.115 * 0.8587

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.0501

4.679 * -0.214176

0.327 * 1.0384

-3.79

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $0.50 Mil.
Revenue was 1.05 + 1.167 + 1.225 + 1.784 = $5.23 Mil.
Gross Profit was 0.66 + 0.575 + 0.55 + 0.815 = $2.60 Mil.
Total Current Assets was $2.02 Mil.
Total Assets was $9.13 Mil.
Property, Plant and Equipment(Net PPE) was $6.08 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.40 Mil.
Selling, General, & Admin. Expense(SGA) was $2.26 Mil.
Total Current Liabilities was $2.14 Mil.
Long-Term Debt & Capital Lease Obligation was $0.18 Mil.
Net Income was -1.879 + -3.59 + -0.962 + -0.052 = $-6.48 Mil.
Non Operating Income was -1.224 + -2.951 + 0.205 + 0.547 = $-3.42 Mil.
Cash Flow from Operations was -0.214 + -0.565 + -0.011 + -0.315 = $-1.11 Mil.

Total Receivables was $0.89 Mil.
Revenue was 2.281 + 1.712 + 1.856 + 0.455 = $6.30 Mil.
Gross Profit was 1.048 + 0.888 + 0.595 + -0.055 = $2.48 Mil.
Total Current Assets was $5.80 Mil.
Total Assets was $17.71 Mil.
Property, Plant and Equipment(Net PPE) was $10.98 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.10 Mil.
Selling, General, & Admin. Expense(SGA) was $1.33 Mil.
Total Current Liabilities was $3.93 Mil.
Long-Term Debt & Capital Lease Obligation was $0.40 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)
	=	(0.496 / 5.226)	/	(0.89 / 6.304)
	=	0.09491	/	0.14118
	=	0.6723

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)
	=	(2.476 / 6.304)	/	(2.6 / 5.226)
	=	0.392766	/	0.497512
	=	0.7895

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 - (2.023 + 6.078) / 9.128)	/	(1 - (5.804 + 10.984) / 17.711)
	=	0.112511	/	0.052115
	=	2.1589

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
	=	5.226	/	6.304
	=	0.829

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))
	=	(2.101 / (2.101 + 10.984))	/	(1.398 / (1.398 + 6.078))
	=	0.160566	/	0.186998
	=	0.8587

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)
	=	(2.257 / 5.226)	/	(1.328 / 6.304)
	=	0.431879	/	0.21066
	=	2.0501

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)
	=	((0.175 + 2.144) / 9.128)	/	((0.402 + 3.931) / 17.711)
	=	0.254053	/	0.24465
	=	1.0384

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
	=	(-6.483 - -3.423	-	-1.105)	/	9.128
	=	-0.214176

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.

Tuktu Resources has a M-score of -3.79 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 -3.82 mean?

Tuktu Resources (JAMGF) has a Beneish M-Score of -3.82 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tuktu Resources and its competitors. According to the industry distribution chart, Tuktu Resources ranks #73 out of 822 companies in the Oil & Gas industry, placing it in the top 8.9%.

Is Tuktu Resources' Beneish M-Score too high?

Tuktu Resources' current Beneish M-Score is -3.82. Based on the distribution chart, Tuktu Resources ranks #73 out of 822 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers.

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

According to the Oil & Gas industry distribution chart, Tuktu Resources ranks #73 out of 822 companies for Beneish M-Score. This places Tuktu Resources in the top 9% 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 Tuktu Resources and its competitors. Tuktu Resources's current Beneish M-Score is -3.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Tuktu Resources stock overvalued right now?

Based on GuruFocus' analysis, Tuktu Resources (JAMGF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.06, compared to a current price of $0.01 — trading 85% below its estimated fair value. The current Beneish M-Score is -3.82. 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 Tuktu Resources (JAMGF), the current Beneish M-Score is -3.82 as of Jun. 27, 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.

Tuktu Resources Business Description

Industry Energy Oil & Gas

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Other Exchanges TUK:Canada

Address 960, 630 - 6th Avenue SW, Calgary, AB, CAN, T2P 0S8

Website https://www.tukturesources.com

Tuktu Resources Ltd is engaged in the business of oil and natural gas exploration, development, and production. It has gathered a block of developed and undeveloped land harboring at least three light oil targets, an extensive fractured sweet gas reservoir, and a fractured light oil reservoir at the edge of the foothills belt in Southwestern Alberta Deep Basin & Foothills region for its oil and natural gas exploration operations.