Tap Global Group (LSE:TAP) Beneish M-Score: -7.95 (As of Jul. 01, 2026)


What is Tap Global Group Beneish M-Score?

Tap Global Group LSE:TAP Beneish M-Score is -7.95 as of Jul. 01, 2026. The stock has 2 warning signs investors should review. Among 2,630 Software companies, Tap Global Group ranks better than 97.76% 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 -7.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LSE:TAP' s Beneish M-Score Range Over the Past 10 Years
Min: -7.95   Med: 24.92   Max: 104.85
Current: -7.95

During the past 11 years, the highest Beneish M-Score of Tap Global Group was 104.85. The lowest was -7.95. And the median was 24.92.

Tap Global Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Tap Global Group'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.

Tap Global Group Beneish M-Score Chart

Tap Global Group Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 104.85 24.92 -7.95

Tap Global Group Semi-Annual Data
Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 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 104.85 24.92 0.00 -7.95 0.00

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

For the Software - Application subindustry, Tap Global Group'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.

Tap Global Group Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Tap Global Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Tap Global Group's Beneish M-Score falls into.


Tap Global Group 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 Tap Global Group 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 * 1.2554+0.528 * 0.7853+0.404 * 0.7918+0.892 * 1.3143+0.115 * 0.9515
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -1.138563-0.327 * 2.3865
=-7.95

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was £0.26 Mil.
Revenue was £3.48 Mil.
Gross Profit was £2.62 Mil.
Total Current Assets was £1.41 Mil.
Total Assets was £4.86 Mil.
Property, Plant and Equipment(Net PPE) was £0.03 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.69 Mil.
Selling, General, & Admin. Expense(SGA) was £0.15 Mil.
Total Current Liabilities was £0.97 Mil.
Long-Term Debt & Capital Lease Obligation was £1.04 Mil.
Net Income was £-5.71 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £-0.18 Mil.
 Total Receivables was £0.16 Mil.
Revenue was £2.65 Mil.
Gross Profit was £1.56 Mil.
Total Current Assets was £0.94 Mil.
Total Assets was £9.06 Mil.
Property, Plant and Equipment(Net PPE) was £0.07 Mil.
Depreciation, Depletion and Amortization(DDA) was £0.69 Mil.
Selling, General, & Admin. Expense(SGA) was £0.00 Mil.
Total Current Liabilities was £0.64 Mil.
Long-Term Debt & Capital Lease Obligation was £0.93 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)
=(0.264 / 3.479) / (0.16 / 2.647)
=0.075884 / 0.060446
=1.2554

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)
=(1.563 / 2.647) / (2.616 / 3.479)
=0.59048 / 0.75194
=0.7853

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 - (1.408 + 0.034) / 4.857) / (1 - (0.944 + 0.071) / 9.063)
=0.703109 / 0.888006
=0.7918

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
=3.479 / 2.647
=1.3143

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))
=(0.692 / (0.692 + 0.071)) / (0.692 / (0.692 + 0.034))
=0.906946 / 0.953168
=0.9515

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)
=(0.15 / 3.479) / (0 / 2.647)
=0.043116 / 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)
=((1.042 + 0.966) / 4.857) / ((0.926 + 0.644) / 9.063)
=0.413424 / 0.173232
=2.3865

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
=(-5.714 - 0 - -0.184) / 4.857
=-1.138563

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.

Tap Global Group has a M-score of -7.95 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 -7.95 mean?
Tap Global Group (LSE:TAP) has a Beneish M-Score of -7.95 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Tap Global Group and its competitors. According to the industry distribution chart, Tap Global Group ranks #59 out of 2630 companies in the Software industry, placing it in the top 2.2%.
Is Tap Global Group's Beneish M-Score too high?
Tap Global Group's current Beneish M-Score is -7.95. Based on the distribution chart, Tap Global Group ranks #59 out of 2630 companies in the Software industry, which is in the top quartile — a strong position relative to peers.
How does Tap Global Group's Beneish M-Score compare to UBER and SHOP?
According to the Software industry distribution chart, Tap Global Group ranks #59 out of 2630 companies for Beneish M-Score. This places Tap Global Group in the top 2% 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 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 Tap Global Group and its competitors. Tap Global Group's current Beneish M-Score is -7.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tap Global Group stock overvalued right now?
Tap Global Group (LSE:TAP) has a current Beneish M-Score of -7.95. The current Beneish M-Score is -7.95. 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 Tap Global Group (LSE:TAP), the current Beneish M-Score is -7.95 as of Jul. 01, 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.

Tap Global Group Business Description

Other Exchanges 8J9:Germany
Address 8 Bishopsgate, Huckletree, Level 2, London, GBR, EC2N 4BQ
Tap Global Group Plc operates a regulated digital finance platform that connects traditional fiat finance and digital assets. The Group provides cryptocurrency trading, digital wallets, card-based payment services, and multi-currency fiat accounts, enabling customers to trade more than 70 cryptocurrencies, store digital assets, and manage payments using GBP and EUR IBAN accounts. Its services are offered to individual, business, and institutional customers, including crypto trading and wallet services, regulated payment accounts for businesses, and Bitcoin Treasury as a Service. The Group has an international presence, serving customers in more than 40 countries.