NTRP (NextTrip) Beneish M-Score: -2.85 (As of Jun. 24, 2026)

What is NextTrip Beneish M-Score?

NextTrip NTRP -1.49% 47 Beneish M-Score is -2.85 as of Jun. 24, 2026. GuruFocus rates NTRP with a GF Score™ of 47/100 and a GF Value™ of $2.43 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 823 Travel & Leisure companies, NextTrip ranks better than 69.5% 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 -2.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

NTRP' s Beneish M-Score Range Over the Past 10 Years
Min: -6.85 Med: -2.3 Max: 16.83
Current: -2.85

During the past 13 years, the highest Beneish M-Score of NextTrip was 16.83. The lowest was -6.85. And the median was -2.30.

NextTrip Beneish M-Score Related Terms

NextTrip Beneish M-Score Historical Data

* Premium members only.

The historical data trend for NextTrip'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.

NextTrip Beneish M-Score Chart

NextTrip Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Feb23

Feb24

Feb25

Feb26

Beneish M-Score

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-1.57

0.00

-0.18

16.83

-2.85

NextTrip Quarterly Data
	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Feb24	May24	Aug24	Nov24	Feb25	May25	Aug25	Nov25	Feb26
Beneish M-Score	Get a 7-Day Free Trial															16.83	-6.30	-6.59	-3.65	-2.85

NTRP vs AHMA, YTRA, NNAX: Beneish M-Score Comparison

For the Travel Services subindustry, NextTrip'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.

NextTrip Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, NextTrip's Beneish M-Score distribution charts can be found below:

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

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47GF Score

NextTrip Inc NTRP

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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NextTrip 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 NextTrip 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 * 0.0212

0.528 * 0.0341

0.404 * 1.01

0.892 * 7.4172

0.115 * 0.9962

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.2842

4.679 * -0.952512

0.327 * 2.0717

-2.85

This Year (Feb26) TTM:

Last Year (Feb25) TTM:

Total Receivables was $0.12 Mil.
Revenue was 1.619 + 1.2 + 0.758 + 0.139 = $3.72 Mil.
Gross Profit was 0.231 + 0.217 + 0.166 + 0.039 = $0.65 Mil.
Total Current Assets was $3.15 Mil.
Total Assets was $13.08 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.10 Mil.
Selling, General, & Admin. Expense(SGA) was $11.18 Mil.
Total Current Liabilities was $3.91 Mil.
Long-Term Debt & Capital Lease Obligation was $3.10 Mil.
Net Income was -5.281 + -3.276 + -2.898 + -4.457 = $-15.91 Mil.
Non Operating Income was -0.12 + 0.164 + 0.593 + 0.47 = $1.11 Mil.
Cash Flow from Operations was -2.111 + -1.981 + 0.572 + -1.043 = $-4.56 Mil.

Total Receivables was $0.76 Mil.
Revenue was 0.083 + 0.075 + 0.154 + 0.189 = $0.50 Mil.
Gross Profit was -0.009 + -0.002 + -0.001 + 0.015 = $0.00 Mil.
Total Current Assets was $2.47 Mil.
Total Assets was $9.94 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.71 Mil.
Selling, General, & Admin. Expense(SGA) was $5.30 Mil.
Total Current Liabilities was $2.57 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)
	=	(0.119 / 3.716)	/	(0.756 / 0.501)
	=	0.032024	/	1.508982
	=	0.0212

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)
	=	(0.003 / 0.501)	/	(0.653 / 3.716)
	=	0.005988	/	0.175727
	=	0.0341

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 - (3.151 + 0.002) / 13.077)	/	(1 - (2.466 + 0.004) / 9.936)
	=	0.75889	/	0.751409
	=	1.01

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
	=	3.716	/	0.501
	=	7.4172

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))
	=	(0.713 / (0.713 + 0.004))	/	(1.099 / (1.099 + 0.002))
	=	0.994421	/	0.998183
	=	0.9962

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)
	=	(11.179 / 3.716)	/	(5.303 / 0.501)
	=	3.008342	/	10.58483
	=	0.2842

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)
	=	((3.098 + 3.912) / 13.077)	/	((0 + 2.571) / 9.936)
	=	0.536056	/	0.258756
	=	2.0717

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
	=	(-15.912 - 1.107	-	-4.563)	/	13.077
	=	-0.952512

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.

NextTrip has a M-score of -2.85 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 -2.85 mean?

NextTrip (NTRP) has a Beneish M-Score of -2.85 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on NextTrip and its competitors. According to the industry distribution chart, NextTrip ranks #251 out of 823 companies in the Travel & Leisure industry, placing it in the top 30.5%.

Is NextTrip's Beneish M-Score too high?

NextTrip's current Beneish M-Score is -2.85. Based on the distribution chart, NextTrip ranks #251 out of 823 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, NextTrip has a GF Score™ of 47/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does NextTrip's Beneish M-Score compare to AHMA and YTRA?

According to the Travel & Leisure industry distribution chart, NextTrip ranks #251 out of 823 companies for Beneish M-Score. This puts NextTrip in the upper 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 Travel & Leisure company?

A good Beneish M-Score depends on the Travel & Leisure 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 NextTrip and its competitors. NextTrip's current Beneish M-Score is -2.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is NextTrip stock overvalued right now?

Based on GuruFocus' analysis, NextTrip (NTRP) is currently considered Modestly Undervalued. The stock's GF Value™ is $2.43, compared to a current price of $1.98 — trading 18.5% below its estimated fair value. The current Beneish M-Score is -2.85. NextTrip's overall GF Score™ is 47/100 with 7 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 NextTrip (NTRP), the current Beneish M-Score is -2.85 as of Jun. 24, 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.

Is NextTrip (NTRP) Overvalued in 2026?

Based on GuruFocus' analysis, NextTrip stock appears to be undervalued. The current stock price of $1.98 is trading 18.5% below its estimated GF Value™ of $2.43. GuruFocus considers NextTrip to be Modestly Undervalued.

Key valuation signals for NTRP:

Beneish M-Score: -2.85
GF Value™: $2.43 vs. price of $1.98 (18.5% below fair value)
GF Score™: 47/100 with 7 warning signs

No single metric tells the full story. See the NTRP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

NextTrip Business Description

Industry Consumer Cyclical Travel & Leisure

Comparable Companies AHMA YTRA NNAX TOUR BKNG ABNB RCL VIK CCL TCOM EXPE NCLH GBTG MMYT BOM:542830 HKSE:00780 TNL XTER:TUI1 LSE:JET2 XMAD:HBX

Address 3900 Paseo del Sol, Santa Fe, NM, USA, 87507

Website https://www.nexttrip.com

NextTrip Inc is a technology-forward travel and media company operating at the intersection of premium content and travel commerce. It believe the travel industry is undergoing a structural shift toward video-led discovery, personalized planning, and seamless booking experiences, where consumers increasingly move from inspiration to transaction within connected digital environments. It operate and report its business in two segments: Travel segment encompasses its travel booking and commerce operations; and Media segment encompasses its content creation, audience development, media distribution, and advertising monetization operations. The company generates majority of revenue from Travel segment.

47GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$1.98

Price

$2.43

GF Value

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