PNST (Pinstripes Holdings) Beneish M-Score: 0.00 (As of Jul. 05, 2026)


What is Pinstripes Holdings Beneish M-Score?

Pinstripes Holdings PNST Beneish M-Score is 0.00 as of Jul. 05, 2026.

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

During the past 4 years, the highest Beneish M-Score of Pinstripes Holdings was 0.00. The lowest was 0.00. And the median was 0.00.

Pinstripes Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Pinstripes 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.

Pinstripes Holdings Beneish M-Score Chart

Pinstripes Holdings Annual Data
Trend Apr21 Apr22 Apr23 Apr24
Beneish M-Score
0.00 0.00 0.00 0.00

Pinstripes Holdings Quarterly Data
Apr22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 -3.34

PNST vs KITL, CHSN, NROM: Beneish M-Score Comparison

For the Restaurants subindustry, Pinstripes 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.

Pinstripes Holdings Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Pinstripes Holdings's Beneish M-Score distribution charts can be found below:

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


Pinstripes 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 Pinstripes 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 * 0.5787+0.528 * 1.8638+0.404 * 0.5561+0.892 * 1.1037+0.115 * 0.8943
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2969+4.679 * -0.153178-0.327 * 1.186
=-3.34

* 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 (Jan25) TTM:Last Year (Jan24) TTM:
Total Receivables was $1.3 Mil.
Revenue was 35.516 + 26.482 + 30.595 + 36.198 = $128.8 Mil.
Gross Profit was 6.406 + 1.321 + 1.416 + 1.347 = $10.5 Mil.
Total Current Assets was $8.1 Mil.
Total Assets was $162.9 Mil.
Property, Plant and Equipment(Net PPE) was $151.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $10.7 Mil.
Selling, General, & Admin. Expense(SGA) was $22.8 Mil.
Total Current Liabilities was $73.5 Mil.
Long-Term Debt & Capital Lease Obligation was $183.5 Mil.
Net Income was -8.079 + -9.31 + -10.006 + -8.708 = $-36.1 Mil.
Non Operating Income was -1.412 + 1.957 + 1.669 + 5.982 = $8.2 Mil.
Cash Flow from Operations was 7.652 + -4.343 + -5.797 + -16.864 = $-19.4 Mil.
 Total Receivables was $2.1 Mil.
Revenue was 32.162 + 24.623 + 25.74 + 34.17 = $116.7 Mil.
Gross Profit was 6.227 + 1.291 + 6.576 + 3.621 = $17.7 Mil.
Total Current Assets was $44.9 Mil.
Total Assets was $177.1 Mil.
Property, Plant and Equipment(Net PPE) was $126.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $7.9 Mil.
Selling, General, & Admin. Expense(SGA) was $15.9 Mil.
Total Current Liabilities was $77.2 Mil.
Long-Term Debt & Capital Lease Obligation was $158.4 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)
=(1.31 / 128.791) / (2.051 / 116.695)
=0.010172 / 0.017576
=0.5787

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)
=(17.715 / 116.695) / (10.49 / 128.791)
=0.151806 / 0.08145
=1.8638

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 - (8.088 + 151.804) / 162.863) / (1 - (44.948 + 126.314) / 177.07)
=0.018242 / 0.032801
=0.5561

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
=128.791 / 116.695
=1.1037

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))
=(7.929 / (7.929 + 126.314)) / (10.735 / (10.735 + 151.804))
=0.059065 / 0.066046
=0.8943

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)
=(22.817 / 128.791) / (15.941 / 116.695)
=0.177163 / 0.136604
=1.2969

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)
=((183.543 + 73.495) / 162.863) / ((158.426 + 77.214) / 177.07)
=1.578247 / 1.330773
=1.186

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
=(-36.103 - 8.196 - -19.352) / 162.863
=-0.153178

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.

Pinstripes Holdings has a M-score of -3.34 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 0.00 mean?
Pinstripes Holdings (PNST) has a Beneish M-Score of 0.00 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Pinstripes Holdings and its competitors.
Is Pinstripes Holdings' Beneish M-Score too high?
Pinstripes Holdings' current Beneish M-Score is 0.00.
How does Pinstripes Holdings' Beneish M-Score compare to KITL and CHSN?
Pinstripes Holdings' Beneish M-Score of 0.00 can be compared against companies in the Restaurants 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 Restaurants company?
A good Beneish M-Score depends on the Restaurants 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 Pinstripes Holdings and its competitors. Pinstripes 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 Pinstripes Holdings stock overvalued right now?
Pinstripes Holdings (PNST) has a current Beneish M-Score of 0.00. 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 Pinstripes Holdings (PNST), the current Beneish M-Score is 0.00 as of Jul. 05, 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.

Pinstripes Holdings Business Description

Address 1150 Willow Road, Northbrook, IL, USA, 60062
Pinstripes Holdings Inc is an experiential dining and entertainment concept combining exceptional Italian-American cuisine with bowling, bocce, and private events. It owns and operates around 17 restaurants in the USA. The company designs and constructs large-format locations that are each 26,000 to 38,000 square feet of interior space, plus additional outdoor patio space that includes outdoor dining, bocce courts, fire-pits, and decorative fountains.