PRO (Pros Holdings) Beneish M-Score: -2.93 (As of Jun. 25, 2026)

What is Pros Holdings Beneish M-Score?

Pros Holdings PRO 58 Beneish M-Score is -2.93 as of Jun. 25, 2026. GuruFocus rates PRO with a GF Score™ of 58/100 and a GF Value™ of $30.38. The stock has 5 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.

Good Sign:

Beneish M-Score -2.93 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

PRO' s Beneish M-Score Range Over the Past 10 Years
Min: -4.42 Med: -2.97 Max: -2.46
Current: -2.93

During the past 13 years, the highest Beneish M-Score of Pros Holdings was -2.46. The lowest was -4.42. And the median was -2.97.

Pros Holdings Beneish M-Score Related Terms

Pros Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Pros 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.

Pros Holdings Beneish M-Score Chart

Pros Holdings Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.99

-2.85

-2.99

-3.09

-2.71

Pros Holdings Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25
Beneish M-Score	Get a 7-Day Free Trial															-3.07	-2.71	-2.68	-2.67	-2.93

PRO vs PD, PDFS, UPBD: Beneish M-Score Comparison

For the Software - Application subindustry, Pros 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.

Pros Holdings Beneish M-Score vs Software Industry

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

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

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58GF Score

Pros Holdings Inc PRO

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

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Pros 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 Pros Holdings 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 * 1.1808

0.528 * 0.9503

0.404 * 0.796

0.892 * 1.0892

0.115 * 1.1453

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0277

4.679 * -0.129088

0.327 * 0.9748

-2.93

This Year (Sep25) TTM:

Last Year (Sep24) TTM:

Total Receivables was $62.0 Mil.
Revenue was 91.676 + 88.715 + 86.322 + 84.969 = $351.7 Mil.
Gross Profit was 63.137 + 59.52 + 58.39 + 57.59 = $238.6 Mil.
Total Current Assets was $275.8 Mil.
Total Assets was $444.9 Mil.
Property, Plant and Equipment(Net PPE) was $34.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $7.5 Mil.
Selling, General, & Admin. Expense(SGA) was $163.4 Mil.
Total Current Liabilities was $176.4 Mil.
Long-Term Debt & Capital Lease Obligation was $337.8 Mil.
Net Income was -4.247 + -1.756 + -3.689 + -1.967 = $-11.7 Mil.
Non Operating Income was -0.369 + 5.989 + 0.591 + -0.25 = $6.0 Mil.
Cash Flow from Operations was 11.372 + 3.215 + 1.215 + 24.013 = $39.8 Mil.

Total Receivables was $48.2 Mil.
Revenue was 82.702 + 82.013 + 80.688 + 77.484 = $322.9 Mil.
Gross Profit was 54.404 + 53.194 + 51.855 + 48.748 = $208.2 Mil.
Total Current Assets was $204.0 Mil.
Total Assets was $384.2 Mil.
Property, Plant and Equipment(Net PPE) was $34.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $8.8 Mil.
Selling, General, & Admin. Expense(SGA) was $146.0 Mil.
Total Current Liabilities was $159.8 Mil.
Long-Term Debt & Capital Lease Obligation was $295.7 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)
	=	(62.02 / 351.682)	/	(48.225 / 322.887)
	=	0.176353	/	0.149356
	=	1.1808

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)
	=	(208.201 / 322.887)	/	(238.637 / 351.682)
	=	0.644811	/	0.678559
	=	0.9503

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 - (275.752 + 34.599) / 444.929)	/	(1 - (204.019 + 34.161) / 384.169)
	=	0.302471	/	0.380012
	=	0.796

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
	=	351.682	/	322.887
	=	1.0892

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))
	=	(8.777 / (8.777 + 34.161))	/	(7.517 / (7.517 + 34.599))
	=	0.204411	/	0.178483
	=	1.1453

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)
	=	(163.381 / 351.682)	/	(145.967 / 322.887)
	=	0.46457	/	0.452068
	=	1.0277

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)
	=	((337.83 + 176.406) / 444.929)	/	((295.655 + 159.832) / 384.169)
	=	1.155771	/	1.185642
	=	0.9748

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
	=	(-11.659 - 5.961	-	39.815)	/	444.929
	=	-0.129088

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.

Pros Holdings has a M-score of -2.93 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 -2.93 mean?

Pros Holdings (PRO) has a Beneish M-Score of -2.93 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Pros Holdings and its competitors.

Is Pros Holdings' Beneish M-Score too high?

Pros Holdings' current Beneish M-Score is -2.93. Overall, Pros Holdings has a GF Score™ of 58/100, reflecting its overall financial health beyond just this single metric.

How does Pros Holdings' Beneish M-Score compare to PD and PDFS?

Pros Holdings' Beneish M-Score of -2.93 can be compared against companies in the Software 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 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 Pros Holdings and its competitors. Pros Holdings's current Beneish M-Score is -2.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Pros Holdings stock overvalued right now?

Pros Holdings (PRO) has a current Beneish M-Score of -2.93. The stock's GF Value™ is $30.38, compared to a current price of $23.25 — trading 23.5% below its estimated fair value. The current Beneish M-Score is -2.93. Pros Holdings' overall GF Score™ is 58/100 with 5 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 Pros Holdings (PRO), the current Beneish M-Score is -2.93 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 Pros Holdings (PRO) Overvalued in 2026?

Based on GuruFocus' analysis, Pros Holdings stock appears to be undervalued. The current stock price of $23.25 is trading 23.5% below its estimated GF Value™ of $30.38.

Key valuation signals for PRO:

Beneish M-Score: -2.93
GF Value™: $30.38 vs. price of $23.25 (23.5% below fair value)
GF Score™: 58/100 with 5 warning signs

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

Pros Holdings Business Description

Industry Technology Software

Comparable Companies PD PDFS UPBD ALIT PRCH MNTN SVMB DFIN VMEO ADEA XTER:SAP CRM SHOP UBER INTU NOW ADBE ADP SNOW CDNS

Address 3200 Kirby Drive, Suite 600, Houston, TX, USA, 77098

Website https://www.pros.com

Pros Holdings Inc provides software solutions that optimize shopping and selling experiences for both business-to-business and business-to-consumer companies across industry verticals in more than nearly 80 countries. Its PROS Platform is designed to help businesses create, optimize and market available offers and handle orders through both first- and third-party digital channels. The firm generates key revenue form the United States of America, Germany, The rest of Europe, Africa, Asia-Pacific, and Middle East regions.

58GF Score

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

$23.25

Price

$30.38

GF Value

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