MDNC (Medinotec) Beneish M-Score: 0.00 (As of Jun. 26, 2026)

What is Medinotec Beneish M-Score?

Medinotec MDNC 24 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates MDNC with a GF Score™ of 24/100. The stock has 2 warning signs investors should review.

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

During the past 5 years, the highest Beneish M-Score of Medinotec was 5.24. The lowest was -0.02. And the median was 2.61.

Medinotec Beneish M-Score Related Terms

Medinotec Beneish M-Score Historical Data

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The historical data trend for Medinotec'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.

Medinotec Beneish M-Score Chart

Medinotec Annual Data

Trend

Feb22

Feb23

Feb24

Feb25

Feb26

Beneish M-Score

0.00

5.24

-0.02

0.00

Medinotec Quarterly Data
	Nov21	Feb22	May22	Aug22	Nov22	Feb23	May23	Aug23	Nov23	Feb24	May24	Aug24	Nov24	Feb25	May25	Aug25	Nov25	Feb26
Beneish M-Score	Get a 7-Day Free Trial													-0.02	5.44	0.84	-0.23	0.00

MDNC vs NVNO, APYX, RDGL: Beneish M-Score Comparison

For the Medical Devices subindustry, Medinotec'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.

Medinotec Beneish M-Score vs Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Medinotec's Beneish M-Score distribution charts can be found below:

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

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Medinotec Inc MDNC

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Medinotec 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 Medinotec 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Feb26) TTM:

Last Year (Feb25) TTM:

Total Receivables was $2.37 Mil.
Revenue was 1.822 + 2.537 + 3.236 + 2.134 = $9.73 Mil.
Gross Profit was 0.855 + 1.346 + 2.002 + 0.925 = $5.13 Mil.
Total Current Assets was $6.42 Mil.
Total Assets was $6.81 Mil.
Property, Plant and Equipment(Net PPE) was $0.34 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.08 Mil.
Selling, General, & Admin. Expense(SGA) was $3.80 Mil.
Total Current Liabilities was $1.10 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.069 + 0.403 + 0.347 + 0.114 = $0.80 Mil.
Non Operating Income was -0.016 + -0.022 + 0.012 + 0.016 = $-0.01 Mil.
Cash Flow from Operations was -0.121 + 0.563 + 1.224 + -0.759 = $0.91 Mil.

Total Receivables was $2.61 Mil.
Revenue was 3.525 + 2.565 + 1.804 + 1.252 = $9.15 Mil.
Gross Profit was 2.344 + 1.041 + 0.833 + 0.6 = $4.82 Mil.
Total Current Assets was $6.42 Mil.
Total Assets was $6.81 Mil.
Property, Plant and Equipment(Net PPE) was $0.39 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.07 Mil.
Selling, General, & Admin. Expense(SGA) was $1.46 Mil.
Total Current Liabilities was $1.51 Mil.
Long-Term Debt & Capital Lease Obligation was $0.95 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)
	=	(2.373 / 9.729)	/	(2.614 / 9.146)
	=	0.24391	/	0.285808
	=

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)
	=	(4.818 / 9.146)	/	(5.128 / 9.729)
	=	0.526788	/	0.527084
	=

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 - (6.42 + 0.344) / 6.813)	/	(1 - (6.423 + 0.386) / 6.809)
	=	0.007192	/	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
	=	9.729	/	9.146
	=

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))
	=	(0.073 / (0.073 + 0.386))	/	(0.081 / (0.081 + 0.344))
	=	0.159041	/	0.190588
	=

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)
	=	(3.802 / 9.729)	/	(1.462 / 9.146)
	=	0.39079	/	0.159851
	=

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)
	=	((0.001 + 1.101) / 6.813)	/	((0.953 + 1.505) / 6.809)
	=	0.16175	/	0.360993
	=

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
	=	(0.795 - -0.01	-	0.907)	/	6.813
	=	-0.014971

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?

Medinotec (MDNC) 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 Medinotec and its competitors.

Is Medinotec's Beneish M-Score too high?

Medinotec's current Beneish M-Score is 0.00. Overall, Medinotec has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.

How does Medinotec's Beneish M-Score compare to NVNO and APYX?

Medinotec's Beneish M-Score of 0.00 can be compared against companies in the Medical Devices & Instruments 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 Medical Devices & Instruments company?

A good Beneish M-Score depends on the Medical Devices & Instruments 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 Medinotec and its competitors. Medinotec'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 Medinotec stock overvalued right now?

Medinotec (MDNC) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Medinotec's overall GF Score™ is 24/100 with 2 warning signs 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 Medinotec (MDNC), 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.

Medinotec Business Description

Industry Healthcare Medical Devices & Instruments

Comparable Companies NVNO APYX RDGL TELA ICCM VNRX CTSO SERA OPGN ELUT ABT BSX SYK MDT XTER:SHL EW SZSE:300760 DXCM STE PODD

Address Stand 299 Avant Garde Avenue, 10 New Market Street, Northlands Deco Park, North Riding, Johannesburg, GT, ZAF, 2169

Website https://www.medinotecinc.com

Medinotec Inc is a medical device manufacturing and distribution company engaged in tracheal non-occlusive airway dilation technology and medical device design. It generates revenue from two sources: internally designed and manufactured medical devices and distribution of third-party medical products under exclusive or non-exclusive agreements in defined territories. Its products include the Trachealator, the Outflo Aortic Valve Dilation Balloon Catheter, and the Cape Cross family of PTCA balloon catheters. It also distributes a range of cardiology and renal dialysis products on behalf of multinational manufacturers, mainly in South Africa. Its segments are Inside the United States and Outside the United States, with Outside the United States generating maximum revenue.

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