SKYQ (Sky Quarry) Beneish M-Score: -6.87 (As of Jun. 28, 2026)


SKYQ Sky Quarry Inc SKYQ
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Price $2.87
! 4 Warning Signs
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What is Sky Quarry Beneish M-Score?

Sky Quarry SKYQ +10.34% 4 Beneish M-Score is -6.87 as of Jun. 28, 2026. GuruFocus rates SKYQ with a GF Score™ of 4/100. The stock has 4 warning signs investors should review. Among 825 Oil & Gas companies, Sky Quarry ranks better than 97.58% 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 -6.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SKYQ' s Beneish M-Score Range Over the Past 10 Years
Min: -6.87   Med: -6.83   Max: -6.65
Current: -6.87

During the past 3 years, the highest Beneish M-Score of Sky Quarry was -6.65. The lowest was -6.87. And the median was -6.83.

Sky Quarry Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sky Quarry'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.

Sky Quarry Beneish M-Score Chart

Sky Quarry Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 -6.83

Sky Quarry Quarterly Data
Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 -6.65 -6.83 -6.87

SKYQ vs ECTM, VIVK, XOM: Beneish M-Score Comparison

For the Oil & Gas Integrated subindustry, Sky Quarry'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.

Sky Quarry Beneish M-Score vs Oil & Gas Industry

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

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


SKYQ
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Sky Quarry Inc SKYQ
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Sky Quarry 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 Sky Quarry 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+0.528 * 0.3201+0.404 * 1.2648+0.892 * 0.3285+0.115 * 0.6819
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 2.567+4.679 * -0.461734-0.327 * 1.4687
=-6.87

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $0.00 Mil.
Revenue was 0 + 0.28 + 1.337 + 4.541 = $6.16 Mil.
Gross Profit was -0.389 + -1.205 + -1.051 + -0.117 = $-2.76 Mil.
Total Current Assets was $1.27 Mil.
Total Assets was $19.31 Mil.
Property, Plant and Equipment(Net PPE) was $14.07 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.29 Mil.
Selling, General, & Admin. Expense(SGA) was $5.40 Mil.
Total Current Liabilities was $16.40 Mil.
Long-Term Debt & Capital Lease Obligation was $0.92 Mil.
Net Income was -2.32 + -2.865 + -3.791 + -2.209 = $-11.19 Mil.
Non Operating Income was -0.382 + 0.34 + -0.179 + -0.149 = $-0.37 Mil.
Cash Flow from Operations was -0.589 + -1.29 + -1.253 + 1.234 = $-1.90 Mil.
 Total Receivables was $1.76 Mil.
Revenue was 6.333 + 4.19 + 4.847 + 3.375 = $18.75 Mil.
Gross Profit was -0.726 + -1.575 + 0.096 + -0.486 = $-2.69 Mil.
Total Current Assets was $4.72 Mil.
Total Assets was $24.59 Mil.
Property, Plant and Equipment(Net PPE) was $15.87 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.97 Mil.
Selling, General, & Admin. Expense(SGA) was $6.40 Mil.
Total Current Liabilities was $12.01 Mil.
Long-Term Debt & Capital Lease Obligation was $3.00 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 / 6.158) / (1.758 / 18.745)
=0 / 0.093785
=0

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)
=(-2.691 / 18.745) / (-2.762 / 6.158)
=-0.143558 / -0.448522
=0.3201

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 - (1.266 + 14.065) / 19.312) / (1 - (4.716 + 15.867) / 24.591)
=0.206141 / 0.162986
=1.2648

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
=6.158 / 18.745
=0.3285

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))
=(0.965 / (0.965 + 15.867)) / (1.291 / (1.291 + 14.065))
=0.057331 / 0.084071
=0.6819

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)
=(5.397 / 6.158) / (6.4 / 18.745)
=0.876421 / 0.341424
=2.567

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)
=((0.918 + 16.397) / 19.312) / ((3.003 + 12.009) / 24.591)
=0.896593 / 0.610467
=1.4687

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
=(-11.185 - -0.37 - -1.898) / 19.312
=-0.461734

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.

Sky Quarry has a M-score of -6.87 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 -6.87 mean?
Sky Quarry (SKYQ) has a Beneish M-Score of -6.87 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sky Quarry and its competitors. According to the industry distribution chart, Sky Quarry ranks #20 out of 825 companies in the Oil & Gas industry, placing it in the top 2.4%.
Is Sky Quarry's Beneish M-Score too high?
Sky Quarry's current Beneish M-Score is -6.87. Based on the distribution chart, Sky Quarry ranks #20 out of 825 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Sky Quarry has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.
How does Sky Quarry's Beneish M-Score compare to ECTM and VIVK?
According to the Oil & Gas industry distribution chart, Sky Quarry ranks #20 out of 825 companies for Beneish M-Score. This places Sky Quarry in the top 2% of its industry — outperforming the majority of peers. 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 Sky Quarry and its competitors. Sky Quarry's current Beneish M-Score is -6.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sky Quarry stock overvalued right now?
Sky Quarry (SKYQ) has a current Beneish M-Score of -6.87. The current Beneish M-Score is -6.87. Sky Quarry's overall GF Score™ is 4/100 with 4 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 Sky Quarry (SKYQ), the current Beneish M-Score is -6.87 as of Jun. 28, 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.

Sky Quarry Business Description

Industry EnergyOil & Gas
Address 707 W. 700 S, Suite 101, Woods Cross, UT, USA, 84087
Sky Quarry Inc is a development-stage oil-producing and refining company. The company, along with its subsidiaries, is engaged in deploying technologies to facilitate the recycling of waste asphalt shingles and the remediation of oil-saturated soils. The recycling and production of oil from asphalt shingles is expected to reduce the dependence on landfills for the disposal of waste and to also reduce dependence on foreign and domestic virgin crude oil extraction for industrial uses. It has one reportable segment: refined crude oil. The company refines crude oil to produce several key products, including Diesel, Liquid Asphalt, Vacuum Gas Oil (VGO), and Naphtha, each with distinct industrial applications.
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