SMX (SMX (Security Matters)) Beneish M-Score: 0.00 (As of Aug. 30, 2026)

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SMX SMX (Security Matters) PLC SMX
12 GF Score
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! 3 Warning Signs
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What is SMX (Security Matters) Beneish M-Score?

SMX (Security Matters) SMX -2.12% 12 Beneish M-Score is 0.00 as of Aug. 30, 2026. GuruFocus rates SMX with a GF Score™ of 12/100. The stock has 3 warning signs investors should review. Among 1,017 Business Services companies, SMX (Security Matters) ranks worse than 98328.32% 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.

The historical rank and industry rank for SMX (Security Matters)'s Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of SMX (Security Matters) was 0.00. The lowest was 0.00. And the median was 0.00.

SMX (Security Matters) Beneish M-Score Historical Data

* Premium members only.

The historical data trend for SMX (Security Matters)'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.

SMX (Security Matters) Beneish M-Score Chart

SMX (Security Matters) Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

SMX (Security Matters) Semi-Annual Data
Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

SMX vs LICN, SST, PMEC: Beneish M-Score Comparison

For the Specialty Business Services subindustry, SMX (Security Matters)'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.

SMX (Security Matters) Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, SMX (Security Matters)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where SMX (Security Matters)'s Beneish M-Score falls into.


SMX
12GF Score
SMX (Security Matters) PLC SMX
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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SMX (Security Matters) 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 SMX (Security Matters) 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $0.37 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $12.79 Mil.
Total Assets was $41.44 Mil.
Property, Plant and Equipment(Net PPE) was $0.50 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.45 Mil.
Selling, General, & Admin. Expense(SGA) was $121.29 Mil.
Total Current Liabilities was $21.73 Mil.
Long-Term Debt & Capital Lease Obligation was $0.38 Mil.
Net Income was $-169.18 Mil.
Gross Profit was $-13.61 Mil.
Cash Flow from Operations was $-17.00 Mil.
 Total Receivables was $1.86 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $4.34 Mil.
Total Assets was $43.53 Mil.
Property, Plant and Equipment(Net PPE) was $0.62 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.27 Mil.
Selling, General, & Admin. Expense(SGA) was $10.98 Mil.
Total Current Liabilities was $20.80 Mil.
Long-Term Debt & Capital Lease Obligation was $0.34 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)
=(0.372 / 0) / (1.861 / 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)
=(0 / 0) / (0 / 0)
= /
=

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 - (12.788 + 0.501) / 41.439) / (1 - (4.336 + 0.616) / 43.529)
=0.679312 / 0.886237
=

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
=0 / 0
=

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))
=(2.273 / (2.273 + 0.616)) / (3.45 / (3.45 + 0.501))
=0.786777 / 0.873197
=

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)
=(121.286 / 0) / (10.98 / 0)
= /
=

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)
=((0.382 + 21.732) / 41.439) / ((0.337 + 20.8) / 43.529)
=0.533652 / 0.485584
=

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
=(-169.178 - -13.609 - -17.001) / 41.439
=-3.343903

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
SMX (Security Matters) (SMX) has a Beneish M-Score of 0.00 as of Aug. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SMX (Security Matters) and its competitors. According to the industry distribution chart, SMX (Security Matters) ranks #999999 out of 1017 companies in the Business Services industry.
Is SMX (Security Matters)'s Beneish M-Score too high?
SMX (Security Matters)'s current Beneish M-Score is 0.00. Based on the distribution chart, SMX (Security Matters) ranks #999999 out of 1017 companies in the Business Services industry, which is in the bottom quartile relative to peers. Overall, SMX (Security Matters) has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does SMX (Security Matters)'s Beneish M-Score compare to LICN and SST?
According to the Business Services industry distribution chart, SMX (Security Matters) ranks #999999 out of 1017 companies for Beneish M-Score. This places SMX (Security Matters) 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 SMX (Security Matters) and its competitors. SMX (Security Matters)'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 SMX (Security Matters) stock overvalued right now?
SMX (Security Matters) (SMX) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. SMX (Security Matters)'s overall GF Score™ is 12/100 with 3 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 SMX (Security Matters) (SMX), the current Beneish M-Score is 0.00 as of Aug. 30, 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.

SMX (Security Matters) Business Description

Address Sussex Road, Mespil Business Centre, Mespil House, Dublin, IRL, D04 T4A6
SMX (Security Matters) PLC provides one solution to solve both authentication and track and trace challenges in order to uphold supply chain integrity and provide quality assurance and brand accountability to producers of goods. Its technology works as a track and trace system using a marker, a reader, and an algorithm to identify embedded sub-molecular particles in order to track and trace different components along a production process (or any other marked good along a supply chain) to the end producer.
12GF Score

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

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