Shift Technologies (STU:4GI0) Beneish M-Score: 0.00 (As of Sep. 09, 2026)

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STU:4GI0 Shift Technologies Inc STU:4GI0
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What is Shift Technologies Beneish M-Score?

Shift Technologies STU:4GI0 10 Beneish M-Score is 0.00 as of Sep. 09, 2026. GuruFocus rates STU:4GI0 with a GF Score™ of 10/100.

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 Shift Technologies's Beneish M-Score or its related term are showing as below:

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

Shift Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Shift Technologies'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.

Shift Technologies Beneish M-Score Chart

Shift Technologies Annual Data
Trend Dec19 Dec20 Dec21 Dec22
Beneish M-Score
0.00 0.00 -1.51 -4.59

Shift Technologies Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.57 -1.56 -4.59 -7.35 -6.92

STU:4GI0 vs PREC, EICCF, JZXN: Beneish M-Score Comparison

For the Auto & Truck Dealerships subindustry, Shift Technologies'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.

Shift Technologies Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Shift Technologies's Beneish M-Score distribution charts can be found below:

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


STU:4GI0
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Shift Technologies Inc STU:4GI0
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Shift Technologies 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 Shift Technologies 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 * 0.9977+0.528 * 2.2143+0.404 * 0.9845+0.892 * 0.4333+0.115 * 0.3788
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.5873+4.679 * -0.935962-0.327 * 2.0476
=-7.25

* 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 (Jun23) TTM:Last Year (Jun22) TTM:
Total Receivables was €3.6 Mil.
Revenue was 43.619 + 50.537 + 61.899 + 163.488 = €319.5 Mil.
Gross Profit was 2.872 + 2.955 + 2.132 + 0.413 = €8.4 Mil.
Total Current Assets was €71.9 Mil.
Total Assets was €101.6 Mil.
Property, Plant and Equipment(Net PPE) was €16.9 Mil.
Depreciation, Depletion and Amortization(DDA) was €23.6 Mil.
Selling, General, & Admin. Expense(SGA) was €150.6 Mil.
Total Current Liabilities was €54.3 Mil.
Long-Term Debt & Capital Lease Obligation was €168.0 Mil.
Net Income was -23.791 + -44.923 + 12.286 + -76.568 = €-133.0 Mil.
Non Operating Income was -1.237 + -0.87 + 55.709 + -20.855 = €32.7 Mil.
Cash Flow from Operations was -25.819 + -33.917 + -21.512 + 10.61 = €-70.6 Mil.
 Total Receivables was €8.4 Mil.
Revenue was 211.651 + 199.379 + 173.651 + 152.83 = €737.5 Mil.
Gross Profit was 11.237 + 9.796 + 10.745 + 11.009 = €42.8 Mil.
Total Current Assets was €226.2 Mil.
Total Assets was €311.5 Mil.
Property, Plant and Equipment(Net PPE) was €45.6 Mil.
Depreciation, Depletion and Amortization(DDA) was €12.9 Mil.
Selling, General, & Admin. Expense(SGA) was €218.9 Mil.
Total Current Liabilities was €146.2 Mil.
Long-Term Debt & Capital Lease Obligation was €186.5 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)
=(3.639 / 319.543) / (8.418 / 737.511)
=0.011388 / 0.011414
=0.9977

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)
=(42.787 / 737.511) / (8.372 / 319.543)
=0.058015 / 0.0262
=2.2143

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 - (71.934 + 16.942) / 101.612) / (1 - (226.176 + 45.636) / 311.466)
=0.12534 / 0.127314
=0.9845

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
=319.543 / 737.511
=0.4333

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))
=(12.897 / (12.897 + 45.636)) / (23.557 / (23.557 + 16.942))
=0.220337 / 0.581669
=0.3788

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)
=(150.556 / 319.543) / (218.922 / 737.511)
=0.47116 / 0.296839
=1.5873

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)
=((167.968 + 54.284) / 101.612) / ((186.509 + 146.206) / 311.466)
=2.187261 / 1.068223
=2.0476

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
=(-132.996 - 32.747 - -70.638) / 101.612
=-0.935962

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.

Shift Technologies has a M-score of -7.25 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?
Shift Technologies (STU:4GI0) has a Beneish M-Score of 0.00 as of Sep. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Shift Technologies and its competitors.
Is Shift Technologies' Beneish M-Score too high?
Shift Technologies' current Beneish M-Score is 0.00. Overall, Shift Technologies has a GF Score™ of 10/100, reflecting its overall financial health beyond just this single metric.
How does Shift Technologies' Beneish M-Score compare to PREC and EICCF?
Shift Technologies' Beneish M-Score of 0.00 can be compared against companies in the Vehicles & Parts 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Shift Technologies and its competitors. Shift Technologies'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 Shift Technologies stock overvalued right now?
Shift Technologies (STU:4GI0) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Shift Technologies' overall GF Score™ is 10/100. 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 Shift Technologies (STU:4GI0), the current Beneish M-Score is 0.00 as of Sep. 09, 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.

Shift Technologies Business Description

Address 290 Division Street, Suite 400, San Francisco, CA, USA, 94103-4893
Shift Technologies Inc is an end-to-end auto e-commerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. The company makes car purchase and ownership simple - making buying or selling a used car fun, fair, and accessible to everyone. It provides comprehensive, digital solutions throughout the car ownership lifecycle: finding the right car, having a test drive , a seamless digitally-driven purchase transaction including financing and vehicle protection products, an efficient, digital trade-in/sale transaction, and a vision to provide high-value support services during car ownership. It operates in two segments: Retail and Wholesale, of which the majority of its revenue comes from Retail.
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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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