RSKIA (George Risk Industries) Beneish M-Score: -2.32 (As of Jun. 25, 2026)

What is George Risk Industries Beneish M-Score?

George Risk Industries RSKIA +0.48% 85 Beneish M-Score is -2.32 as of Jun. 25, 2026. GuruFocus rates RSKIA with a GF Score™ of 85/100 and a GF Value™ of $16.64 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,020 Business Services companies, George Risk Industries ranks worse than 66.96% 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 -2.32 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

RSKIA' s Beneish M-Score Range Over the Past 10 Years
Min: -2.87 Med: -2.45 Max: 0.31
Current: -2.32

During the past 13 years, the highest Beneish M-Score of George Risk Industries was 0.31. The lowest was -2.87. And the median was -2.45.

George Risk Industries Beneish M-Score Related Terms

George Risk Industries Beneish M-Score Historical Data

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The historical data trend for George Risk Industries'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.

George Risk Industries Beneish M-Score Chart

George Risk Industries Annual Data

Trend

Apr16

Apr17

Apr18

Apr19

Apr20

Apr21

Apr22

Apr23

Apr24

Apr25

Beneish M-Score

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-2.36

-2.19

-2.56

-2.68

-1.92

George Risk Industries Quarterly Data
	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25	Apr25	Jul25	Oct25	Jan26
Beneish M-Score	Get a 7-Day Free Trial															-2.33	-1.92	-1.77	-2.44	-2.32

RSKIA vs SPCB, SNT, KSCP: Beneish M-Score Comparison

For the Security & Protection Services subindustry, George Risk Industries'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.

George Risk Industries Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, George Risk Industries's Beneish M-Score distribution charts can be found below:

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

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85GF Score

George Risk Industries Inc RSKIA

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

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George Risk Industries 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 George Risk Industries 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 * 1.0715

0.528 * 1.0304

0.404 * 0.7924

0.892 * 1.1016

0.115 * 1.1987

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9301

4.679 * -7.3E-5

0.327 * 0.9007

-2.32

This Year (Jan26) TTM:

Last Year (Jan25) TTM:

Total Receivables was $7.25 Mil.
Revenue was 5.659 + 6.333 + 5.898 + 6.232 = $24.12 Mil.
Gross Profit was 2.567 + 2.969 + 3.023 + 2.953 = $11.51 Mil.
Total Current Assets was $65.55 Mil.
Total Assets was $68.36 Mil.
Property, Plant and Equipment(Net PPE) was $1.98 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.37 Mil.
Selling, General, & Admin. Expense(SGA) was $4.70 Mil.
Total Current Liabilities was $4.55 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was 2.48 + 2.343 + 3.792 + 0.605 = $9.22 Mil.
Non Operating Income was 1.563 + 1.309 + 2.915 + -1.276 = $4.51 Mil.
Cash Flow from Operations was 0.253 + 1.189 + 2.139 + 1.133 = $4.71 Mil.

Total Receivables was $6.14 Mil.
Revenue was 4.912 + 5.613 + 5.78 + 5.592 = $21.90 Mil.
Gross Profit was 2.298 + 2.714 + 2.945 + 2.811 = $10.77 Mil.
Total Current Assets was $60.66 Mil.
Total Assets was $63.72 Mil.
Property, Plant and Equipment(Net PPE) was $2.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.49 Mil.
Selling, General, & Admin. Expense(SGA) was $4.59 Mil.
Total Current Liabilities was $4.70 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)
	=	(7.25 / 24.122)	/	(6.142 / 21.897)
	=	0.300556	/	0.280495
	=	1.0715

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)
	=	(10.768 / 21.897)	/	(11.512 / 24.122)
	=	0.491757	/	0.477241
	=	1.0304

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 - (65.55 + 1.978) / 68.355)	/	(1 - (60.664 + 2.087) / 63.724)
	=	0.012099	/	0.015269
	=	0.7924

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
	=	24.122	/	21.897
	=	1.1016

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))
	=	(0.486 / (0.486 + 2.087))	/	(0.37 / (0.37 + 1.978))
	=	0.188885	/	0.157581
	=	1.1987

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)
	=	(4.703 / 24.122)	/	(4.59 / 21.897)
	=	0.194967	/	0.209618
	=	0.9301

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 + 4.545) / 68.355)	/	((0 + 4.704) / 63.724)
	=	0.066491	/	0.073818
	=	0.9007

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
	=	(9.22 - 4.511	-	4.714)	/	68.355
	=	-7.3E-5

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.

George Risk Industries has a M-score of -2.32 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 -2.32 mean?

George Risk Industries (RSKIA) has a Beneish M-Score of -2.32 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on George Risk Industries and its competitors. According to the industry distribution chart, George Risk Industries ranks #683 out of 1020 companies in the Business Services industry, placing it in the top 67%.

Is George Risk Industries' Beneish M-Score too high?

George Risk Industries' current Beneish M-Score is -2.32. Based on the distribution chart, George Risk Industries ranks #683 out of 1020 companies in the Business Services industry, which is below the industry midpoint. Overall, George Risk Industries has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.

How does George Risk Industries' Beneish M-Score compare to SPCB and SNT?

According to the Business Services industry distribution chart, George Risk Industries ranks #683 out of 1020 companies for Beneish M-Score. This places George Risk Industries 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 a Business Services company?

A good Beneish M-Score depends on the Business Services 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 George Risk Industries and its competitors. George Risk Industries's current Beneish M-Score is -2.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is George Risk Industries stock overvalued right now?

Based on GuruFocus' analysis, George Risk Industries (RSKIA) is currently considered Modestly Overvalued. The stock's GF Value™ is $16.64, compared to a current price of $18.99 — trading 14.1% above its estimated fair value. The current Beneish M-Score is -2.32. George Risk Industries' overall GF Score™ is 85/100 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 George Risk Industries (RSKIA), the current Beneish M-Score is -2.32 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 George Risk Industries (RSKIA) Overvalued in 2026?

Based on GuruFocus' analysis, George Risk Industries stock appears to be overvalued. The current stock price of $18.99 is trading 14.1% above its estimated GF Value™ of $16.64. GuruFocus considers George Risk Industries to be Modestly Overvalued.

Key valuation signals for RSKIA:

Beneish M-Score: -2.32
GF Value™: $16.64 vs. price of $18.99 (14.1% above fair value)
GF Score™: 85/100 with 5 warning signs

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

George Risk Industries Business Description

Industry Industrials Business Services

Comparable Companies SPCB SNT KSCP BAER YOOV GFAI VRME BKYI IVDA AGSS OSTO:ASSA B TSE:9735 ALLE OSTO:SECU B XTAE:NXSN SZSE:002236 MSA ADT BCO BRC

Address 802 South Elm Street, Kimball, NE, USA, 69145

Website https://www.grisk.com

George Risk Industries Inc manufactures security products. The company is engaged in the designing, manufacturing, and sale of various products which include magnetic reed switches as well as keyboards and keyboard switches, proximity sensors, security alarm components, pool access alarms, electronic switching devices, low voltage raceway, wire, and cable installation tools, and various other sensors and devices. These security products are used in alarm system installations in the residential, commercial, industrial, and government sectors.

85GF Score

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

$18.99

Price

$16.64

GF Value

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