Engage XR Holdings (LSE:EXR) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


What is Engage XR Holdings Beneish M-Score?

Engage XR Holdings LSE:EXR Beneish M-Score is 0.00 as of Jun. 26, 2026. The stock has 2 warning signs investors should review. Among 2,634 Software companies, Engage XR Holdings ranks worse than 37965.03% 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 Engage XR Holdings's Beneish M-Score or its related term are showing as below:

During the past 9 years, the highest Beneish M-Score of Engage XR Holdings was -2.37. The lowest was -4.32. And the median was -3.02.

Engage XR Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Engage XR 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.

Engage XR Holdings Beneish M-Score Chart

Engage XR Holdings Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only -2.37 -4.32 -2.46 0.00 0.00

Engage XR Holdings Semi-Annual Data
Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 -2.46 0.00 0.00 0.00 0.00

LSE:EXR vs CRM, SHOP, UBER: Beneish M-Score Comparison

For the Software - Application subindustry, Engage XR 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.

Engage XR Holdings Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Engage XR Holdings's Beneish M-Score distribution charts can be found below:

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


Engage XR 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 Engage XR 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 * +0.528 * +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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was £0.35 Mil.
Revenue was £1.70 Mil.
Gross Profit was £1.58 Mil.
Total Current Assets was £1.90 Mil.
Total Assets was £1.93 Mil.
Property, Plant and Equipment(Net PPE) was £0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.05 Mil.
Selling, General, & Admin. Expense(SGA) was £4.24 Mil.
Total Current Liabilities was £0.28 Mil.
Long-Term Debt & Capital Lease Obligation was £0.01 Mil.
Net Income was £-2.61 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £-1.66 Mil.
 Total Receivables was £1.31 Mil.
Revenue was £2.81 Mil.
Gross Profit was £2.42 Mil.
Total Current Assets was £4.44 Mil.
Total Assets was £4.48 Mil.
Property, Plant and Equipment(Net PPE) was £0.05 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.08 Mil.
Selling, General, & Admin. Expense(SGA) was £5.89 Mil.
Total Current Liabilities was £0.57 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)
=(0.349 / 1.697) / (1.306 / 2.814)
=0.205657 / 0.464108
=

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)
=(2.419 / 2.814) / (1.583 / 1.697)
=0.85963 / 0.932823
=

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 - (1.898 + 0.03) / 1.928) / (1 - (4.435 + 0.046) / 4.481)
=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
=1.697 / 2.814
=

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))
=(0.075 / (0.075 + 0.046)) / (0.05 / (0.05 + 0.03))
=0.619835 / 0.625
=

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)
=(4.24 / 1.697) / (5.885 / 2.814)
=2.498527 / 2.091329
=

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)
=((0.01 + 0.281) / 1.928) / ((0 + 0.574) / 4.481)
=0.150934 / 0.128096
=

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
=(-2.608 - 0 - -1.662) / 1.928
=-0.490664

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?
Engage XR Holdings (LSE:EXR) 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 Engage XR Holdings and its competitors. According to the industry distribution chart, Engage XR Holdings ranks #999999 out of 2634 companies in the Software industry.
Is Engage XR Holdings' Beneish M-Score too high?
Engage XR Holdings' current Beneish M-Score is 0.00. Based on the distribution chart, Engage XR Holdings ranks #999999 out of 2634 companies in the Software industry, which is in the bottom quartile relative to peers.
How does Engage XR Holdings' Beneish M-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Engage XR Holdings ranks #999999 out of 2634 companies for Beneish M-Score. This places Engage XR Holdings 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 Software company?
A good Beneish M-Score depends on the Software 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 Engage XR Holdings and its competitors. Engage XR 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 Engage XR Holdings stock overvalued right now?
Based on GuruFocus' analysis, Engage XR Holdings (LSE:EXR) is currently considered Possible Value Trap. The stock's GF Value™ is £0.01, compared to a current price of £0.00 — trading 77.6% below its estimated fair value. 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 Engage XR Holdings (LSE:EXR), 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.

Engage XR Holdings Business Description

Other Exchanges 6VR:Germany
Address G16, Arclabs Reasearch and Innovation Centre, South East Technological University West Campus, Carriganore, Waterford, IRL, X91 P20H
Engage XR Holdings PLC operates as a virtual reality software and technology company in Ireland. It is engaged in the development of the educational Virtual Reality platform - ENGAGE. It also develops and sells online virtual social learning and presentation platforms for creating, sharing, and delivering proprietary and third-party VR content for educational and corporate training purposes.