SYTAW (Siyata Mobile) Beneish M-Score: -2.77 (As of Jun. 26, 2026)

What is Siyata Mobile Beneish M-Score?

Siyata Mobile SYTAW 18 Beneish M-Score is -2.77 as of Jun. 26, 2026. GuruFocus rates SYTAW with a GF Score™ of 18/100. The stock has 4 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 -2.77 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SYTAW' s Beneish M-Score Range Over the Past 10 Years
Min: -5.96 Med: -2.45 Max: 317.73
Current: -2.77

During the past 13 years, the highest Beneish M-Score of Siyata Mobile was 317.73. The lowest was -5.96. And the median was -2.45.

Siyata Mobile Beneish M-Score Related Terms

Siyata Mobile Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Siyata Mobile'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.

Siyata Mobile Beneish M-Score Chart

Siyata Mobile Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

Get a 7-Day Free Trial

-0.97

-3.04

-2.68

-3.85

-3.44

Siyata Mobile Quarterly Data
	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.64	-3.44	-3.55	-2.77

SYTAW vs BOSC, CMBM, UTSI: Beneish M-Score Comparison

For the Communication Equipment subindustry, Siyata Mobile'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.

Siyata Mobile Beneish M-Score vs Hardware Industry

For the Hardware industry and Technology sector, Siyata Mobile's Beneish M-Score distribution charts can be found below:

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

Save Embed

18GF Score

Siyata Mobile Inc SYTAW

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

View Full Analysis

Siyata Mobile 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 Siyata Mobile 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 * 0.3066

0.528 * 1.8887

0.404 * 0.9901

0.892 * 1.4913

0.115 * 0.9776

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7889

4.679 * -0.182901

0.327 * 0.1706

-2.77

This Year (Jun25) TTM:

Last Year (Jun24) TTM:

Total Receivables was $0.69 Mil.
Revenue was 2.035 + 2.468 + 1.518 + 5.863 = $11.88 Mil.
Gross Profit was 0.298 + 0.53 + -0.621 + 1.703 = $1.91 Mil.
Total Current Assets was $10.24 Mil.
Total Assets was $20.07 Mil.
Property, Plant and Equipment(Net PPE) was $0.58 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.67 Mil.
Selling, General, & Admin. Expense(SGA) was $14.84 Mil.
Total Current Liabilities was $3.03 Mil.
Long-Term Debt & Capital Lease Obligation was $0.21 Mil.
Net Income was -3.808 + -3.789 + -8.923 + -0.626 = $-17.15 Mil.
Non Operating Income was 0.106 + 0.32 + -2.059 + 3.697 = $2.06 Mil.
Cash Flow from Operations was -5.981 + -1.95 + -0.551 + -7.057 = $-15.54 Mil.

Total Receivables was $1.51 Mil.
Revenue was 1.891 + 2.358 + 1.878 + 1.842 = $7.97 Mil.
Gross Profit was 0.197 + 0.864 + 0.868 + 0.49 = $2.42 Mil.
Total Current Assets was $9.60 Mil.
Total Assets was $19.18 Mil.
Property, Plant and Equipment(Net PPE) was $0.66 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.74 Mil.
Selling, General, & Admin. Expense(SGA) was $12.61 Mil.
Total Current Liabilities was $17.86 Mil.
Long-Term Debt & Capital Lease Obligation was $0.28 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)
	=	(0.69 / 11.884)	/	(1.509 / 7.969)
	=	0.058061	/	0.189359
	=	0.3066

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)
	=	(2.419 / 7.969)	/	(1.91 / 11.884)
	=	0.303551	/	0.16072
	=	1.8887

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 - (10.24 + 0.582) / 20.071)	/	(1 - (9.597 + 0.658) / 19.183)
	=	0.460814	/	0.465412
	=	0.9901

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
	=	11.884	/	7.969
	=	1.4913

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))
	=	(1.738 / (1.738 + 0.658))	/	(1.674 / (1.674 + 0.582))
	=	0.725376	/	0.742021
	=	0.9776

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)
	=	(14.837 / 11.884)	/	(12.612 / 7.969)
	=	1.248485	/	1.582633
	=	0.7889

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)
	=	((0.211 + 3.027) / 20.071)	/	((0.284 + 17.861) / 19.183)
	=	0.161327	/	0.94589
	=	0.1706

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
	=	(-17.146 - 2.064	-	-15.539)	/	20.071
	=	-0.182901

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.

Siyata Mobile has a M-score of -2.77 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 -2.77 mean?

Siyata Mobile (SYTAW) has a Beneish M-Score of -2.77 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Siyata Mobile and its competitors.

Is Siyata Mobile's Beneish M-Score too high?

Siyata Mobile's current Beneish M-Score is -2.77. Overall, Siyata Mobile has a GF Score™ of 18/100, reflecting its overall financial health beyond just this single metric.

How does Siyata Mobile's Beneish M-Score compare to BOSC and CMBM?

Siyata Mobile's Beneish M-Score of -2.77 can be compared against companies in the Hardware 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 Hardware company?

A good Beneish M-Score depends on the Hardware 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 Siyata Mobile and its competitors. Siyata Mobile's current Beneish M-Score is -2.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Siyata Mobile stock overvalued right now?

Siyata Mobile (SYTAW) has a current Beneish M-Score of -2.77. The current Beneish M-Score is -2.77. Siyata Mobile's overall GF Score™ is 18/100 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 Siyata Mobile (SYTAW), the current Beneish M-Score is -2.77 as of Jun. 26, 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.

Siyata Mobile Business Description

Industry Technology Hardware

Comparable Companies BOSC CMBM UTSI FIEE SONM SYNX MITQ CLRO AIRG FKWL CSCO SHSE:601138 MSI SZSE:300308 SZSE:300502 UI HPE SZSE:000063 OSTO:ERIC B OHEL:NOKIA

Address 1001 Lenoir Street, Suite A- 414, Montreal, QC, CAN, H4C2Z6

Website https://www.siyatamobile.com

Siyata Mobile Inc is engaged in the sale of vehicle mounted, cellular-based communications platforms over advanced 3G (Third generation) mobile networks and cellular booster systems. The company develops, markets and sells a portfolio of rugged handheld Push-to-Talk over Cellular (PoC) smartphone devices. These rugged business-to-business (B2B) environments are focused on enterprise customers, first responders, construction workers, security guards, government agencies, utilities, transportation and waste management, amusement parks, and mobile workers in multiple industries. The company operates in USA, Canada, EMEA and Australia. It derives maximum revenue from USA.

18GF Score

Get the complete analysis for SYTAW

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

$0.00

Price

View SYTAW Analysis

See Beneish M-Score data for all stocks →