ORXGF (Orca Energy Group) Beneish M-Score: 168.74 (As of Jun. 25, 2026)

What is Orca Energy Group Beneish M-Score?

Orca Energy Group ORXGF -6.82% 79 Beneish M-Score is 168.74 as of Jun. 25, 2026. GuruFocus rates ORXGF with a GF Score™ of 79/100 and a GF Value™ of $2.30 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 822 Oil & Gas companies, Orca Energy Group ranks worse than 99.88% 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.

Warning Sign:

Beneish M-Score 168.74 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ORXGF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.11 Med: -2.68 Max: 168.74
Current: 168.74

During the past 13 years, the highest Beneish M-Score of Orca Energy Group was 168.74. The lowest was -4.11. And the median was -2.68.

Orca Energy Group Beneish M-Score Related Terms

Orca Energy Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Orca Energy 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.

Orca Energy Group Beneish M-Score Chart

Orca Energy Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.60

-3.14

-3.70

-2.58

135.72

Orca Energy Group Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-3.78	-3.64	-4.11	135.72	168.74

ORXGF vs USEG, VOC, INDO: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Orca Energy 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.

Orca Energy Group Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Orca Energy Group's Beneish M-Score distribution charts can be found below:

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

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79GF Score

Orca Energy Group Inc ORXGF

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

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Orca Energy 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 Orca Energy Group 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 * 1.2455

0.528 * 1.2126

0.404 * 416.8209

0.892 * 0.8053

0.115 * 0.5837

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.4371

4.679 * -0.370685

0.327 * 1.5304

163.65

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $36.65 Mil.
Revenue was 28.397 + 15.82 + 21.746 + 24.274 = $90.24 Mil.
Gross Profit was 15.649 + 3.503 + 9.254 + 12.084 = $40.49 Mil.
Total Current Assets was $119.56 Mil.
Total Assets was $134.85 Mil.
Property, Plant and Equipment(Net PPE) was $11.53 Mil.
Depreciation, Depletion and Amortization(DDA) was $31.86 Mil.
Selling, General, & Admin. Expense(SGA) was $23.10 Mil.
Total Current Liabilities was $111.61 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was 3.468 + -33.154 + 19.475 + 22.401 = $12.19 Mil.
Non Operating Income was -1.992 + 0.418 + 0.314 + 0.051 = $-1.21 Mil.
Cash Flow from Operations was -0.906 + 0.051 + 32.294 + 31.948 = $63.39 Mil.

Total Receivables was $36.53 Mil.
Revenue was 25.391 + 36.855 + 24.787 + 25.014 = $112.05 Mil.
Gross Profit was 13.042 + 22.515 + 10.532 + 14.874 = $60.96 Mil.
Total Current Assets was $107.84 Mil.
Total Assets was $150.17 Mil.
Property, Plant and Equipment(Net PPE) was $42.32 Mil.
Depreciation, Depletion and Amortization(DDA) was $31.74 Mil.
Selling, General, & Admin. Expense(SGA) was $19.96 Mil.
Total Current Liabilities was $81.04 Mil.
Long-Term Debt & Capital Lease Obligation was $0.17 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)
	=	(36.645 / 90.237)	/	(36.533 / 112.047)
	=	0.406097	/	0.326051
	=	1.2455

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)
	=	(60.963 / 112.047)	/	(40.49 / 90.237)
	=	0.544084	/	0.448707
	=	1.2126

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 - (119.558 + 11.529) / 134.853)	/	(1 - (107.835 + 42.323) / 150.168)
	=	0.027927	/	6.7E-5
	=	416.8209

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
	=	90.237	/	112.047
	=	0.8053

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))
	=	(31.743 / (31.743 + 42.323))	/	(31.859 / (31.859 + 11.529))
	=	0.428577	/	0.734281
	=	0.5837

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)
	=	(23.104 / 90.237)	/	(19.962 / 112.047)
	=	0.256037	/	0.178157
	=	1.4371

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 + 111.613) / 134.853)	/	((0.174 + 81.039) / 150.168)
	=	0.827664	/	0.540814
	=	1.5304

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
	=	(12.19 - -1.209	-	63.387)	/	134.853
	=	-0.370685

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.

Orca Energy Group has a M-score of 163.65 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 168.74 mean?

Orca Energy Group (ORXGF) has a Beneish M-Score of 168.74 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Orca Energy Group and its competitors. According to the industry distribution chart, Orca Energy Group ranks #821 out of 822 companies in the Oil & Gas industry, placing it in the top 99.9%.

Is Orca Energy Group's Beneish M-Score too high?

Orca Energy Group's current Beneish M-Score is 168.74. Based on the distribution chart, Orca Energy Group ranks #821 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Orca Energy Group has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Orca Energy Group's Beneish M-Score compare to USEG and VOC?

According to the Oil & Gas industry distribution chart, Orca Energy Group ranks #821 out of 822 companies for Beneish M-Score. This places Orca Energy Group 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 an Oil & Gas company?

A good Beneish M-Score depends on the Oil & Gas 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 Orca Energy Group and its competitors. Orca Energy Group's current Beneish M-Score is 168.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Orca Energy Group stock overvalued right now?

Based on GuruFocus' analysis, Orca Energy Group (ORXGF) is currently considered Modestly Undervalued. The stock's GF Value™ is $2.30, compared to a current price of $1.85 — trading 19.8% below its estimated fair value. The current Beneish M-Score is 168.74. Orca Energy Group's overall GF Score™ is 79/100 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 Orca Energy Group (ORXGF), the current Beneish M-Score is 168.74 as of Jun. 25, 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 Orca Energy Group (ORXGF) Overvalued in 2026?

Based on GuruFocus' analysis, Orca Energy Group stock appears to be undervalued. The current stock price of $1.85 is trading 19.8% below its estimated GF Value™ of $2.30. GuruFocus considers Orca Energy Group to be Modestly Undervalued.

Key valuation signals for ORXGF:

Beneish M-Score: 168.74
GF Value™: $2.30 vs. price of $1.85 (19.8% below fair value)
GF Score™: 79/100 with 7 warning signs

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

Orca Energy Group Business Description

Industry Energy Oil & Gas

Comparable Companies USEG VOC INDO PVL CRT LRDC RSRV BATL EONR NRT HKSE:00883 COP TSX:CNQ EOG OXY FANG DVN ASX:WDS EQT TPL

Other Exchanges E9NB:Germany ORC.B:Canada

Address Haile Selassie Road, Oyster Plaza Building, 5th Floor, P.O. Box 80139, Dar es Salaam, TZA

Website https://www.orcaenergygroup.com

Orca Energy Group Inc produces and sells natural gas to the power and industrial sectors in Tanzania. The company is focused on maintaining safe and reliable operations at the Songo Songo gas field, offshore Tanzania. It operates several upstream, downstream, and distribution infrastructure for the benefit of the Tanzanian population. The Company has one reportable industry segment, which is international exploration, development, and production of petroleum and natural gas. Its gas revenue is derived solely from customers in Tanzania. It aims to create long-term sustainable and accretive value for stakeholders, while minimizing its impact on the environment.

79GF Score

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

$1.85

Price

$2.30

GF Value

View ORXGF Analysis

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