PSV Holdings (JSE:PSV) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


What is PSV Holdings Beneish M-Score?

PSV Holdings JSE:PSV Beneish M-Score is 0.00 as of Jun. 26, 2026.

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 PSV Holdings's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of PSV Holdings was 0.00. The lowest was 0.00. And the median was 0.00.

PSV Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for PSV Holdings'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.

PSV Holdings Beneish M-Score Chart

PSV Holdings Annual Data
Trend Feb10 Feb11 Feb12 Feb13 Feb14 Feb15 Feb16 Feb17 Feb18 Feb19
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 -4.48 -2.31 0.00 0.00

PSV Holdings Semi-Annual Data
Feb10 Aug10 Feb11 Aug11 Feb12 Aug12 Feb13 Aug13 Feb14 Aug14 Feb15 Aug15 Feb16 Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19
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

JSE:PSV vs HON, MMM, GE: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, PSV Holdings'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.

PSV Holdings Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, PSV Holdings's Beneish M-Score distribution charts can be found below:

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


PSV Holdings 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 PSV Holdings 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 * 0.8705+0.528 * 1.4828+0.404 * 1.3644+0.892 * 1.3519+0.115 * 0.3107
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.047981-0.327 * 0.9398
=-2.17

* 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 (Feb19) TTM:Last Year (Feb18) TTM:
Total Receivables was R37.7 Mil.
Revenue was R237.5 Mil.
Gross Profit was R28.2 Mil.
Total Current Assets was R52.8 Mil.
Total Assets was R103.1 Mil.
Property, Plant and Equipment(Net PPE) was R5.4 Mil.
Depreciation, Depletion and Amortization(DDA) was R1.2 Mil.
Selling, General, & Admin. Expense(SGA) was R0.0 Mil.
Total Current Liabilities was R67.1 Mil.
Long-Term Debt & Capital Lease Obligation was R1.7 Mil.
Net Income was R-25.3 Mil.
Gross Profit was R0.0 Mil.
Cash Flow from Operations was R-20.3 Mil.
 Total Receivables was R32.0 Mil.
Revenue was R175.7 Mil.
Gross Profit was R30.9 Mil.
Total Current Assets was R77.6 Mil.
Total Assets was R131.3 Mil.
Property, Plant and Equipment(Net PPE) was R11.8 Mil.
Depreciation, Depletion and Amortization(DDA) was R0.7 Mil.
Selling, General, & Admin. Expense(SGA) was R0.0 Mil.
Total Current Liabilities was R91.2 Mil.
Long-Term Debt & Capital Lease Obligation was R2.1 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)
=(37.685 / 237.533) / (32.022 / 175.703)
=0.158652 / 0.182251
=0.8705

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)
=(30.948 / 175.703) / (28.216 / 237.533)
=0.176138 / 0.118788
=1.4828

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 - (52.829 + 5.436) / 103.104) / (1 - (77.634 + 11.794) / 131.268)
=0.434891 / 0.318737
=1.3644

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
=237.533 / 175.703
=1.3519

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))
=(0.695 / (0.695 + 11.794)) / (1.186 / (1.186 + 5.436))
=0.055649 / 0.1791
=0.3107

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 / 237.533) / (0 / 175.703)
=0 / 0
=1

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)
=((1.749 + 67.115) / 103.104) / ((2.098 + 91.19) / 131.268)
=0.667908 / 0.710668
=0.9398

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
=(-25.295 - 0 - -20.348) / 103.104
=-0.047981

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.

PSV Holdings has a M-score of -2.17 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 0.00 mean?
PSV Holdings (JSE:PSV) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on PSV Holdings and its competitors.
Is PSV Holdings' Beneish M-Score too high?
PSV Holdings' current Beneish M-Score is 0.00.
How does PSV Holdings' Beneish M-Score compare to HON and MMM?
PSV Holdings' Beneish M-Score of 0.00 can be compared against companies in the Industrial Products 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 PSV Holdings and its competitors. PSV Holdings'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 PSV Holdings stock overvalued right now?
PSV Holdings (JSE:PSV) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. 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 PSV Holdings (JSE:PSV), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

PSV Holdings Business Description

Address Corner of Serenade & North Reef Roads, Henville Ext. Elandsfontein Rail, Germiston, ZAF, 1429
PSV Holdings Ltd is an industrial engineering holding company. It is engaged in providing steel, stainless steel, industrial supplies, specialized control valves, engineering linings, cryogenic equipment and storage tankers and also provides technology to the mining, water, wastewater management, health care, infrastructure and manufacturing sectors in South Africa and Africa. The company operates in two segments namely Industrial Supplies that includes steel, piping, industrial tools and consumable supplies and others; and Specialized Services that includes comprehensive cryogenic and gas systems. It derives key revenue from the Industrial supplies segment. Geographically, the group has operations in South Africa and other countries.