Thinkific LabsTHNCF 72 Beneish M-Score is -2.40 as of Jun. 24, 2026. GuruFocus rates THNCF with a GF Score™ of 72/100 and a GF Value™ of $2.52 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 2,633 Software companies, Thinkific Labs ranks worse than 58.98% 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Thinkific Labs's Beneish M-Score or its related term are showing as below:
THNCF'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.08 Med: -2.39 Max: 23.06
Current: -2.4
During the past 8 years, the highest Beneish M-Score of Thinkific Labs was 23.06. The lowest was -3.08. And the median was -2.39.
Thinkific Labs Beneish M-Score Related Terms
Thinkific Labs Beneish M-Score Historical Data
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The historical data trend for Thinkific Labs'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.
THNCF vs CRM, SHOP, UBER: Beneish M-Score Comparison
For the Software - Application subindustry, Thinkific Labs'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.
Thinkific Labs Beneish M-Score vs Software Industry
For the Software industry and Technology sector, Thinkific Labs's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Thinkific Labs's Beneish M-Score falls into.
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 Thinkific Labs 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 * 1.2245
+
0.528 * 1.0328
+
0.404 * 1.1137
+
0.892 * 1.0757
+
0.115 * 0.93
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9186
+
4.679 * -0.045685
-
0.327 * 0.997
=
-2.35
* 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.
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.
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))
=
(1.405 / (1.405 + 2.176))
/
(1.326 / (1.326 + 1.817))
=
0.392349
/
0.42189
=
0.93
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
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
=
(-0.224 - 0.329
-
2.262)
/
61.618
=
-0.045685
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.
Thinkific Labs has a M-score of -2.35 suggests that the company is unlikely to be a manipulator.
Thinkific Labs (THNCF) has a Beneish M-Score of -2.40 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Thinkific Labs and its competitors. According to the industry distribution chart, Thinkific Labs ranks #1553 out of 2633 companies in the Software industry, placing it in the top 59%.
Is Thinkific Labs' Beneish M-Score too high?
Thinkific Labs' current Beneish M-Score is -2.40. Based on the distribution chart, Thinkific Labs ranks #1553 out of 2633 companies in the Software industry, which is below the industry midpoint. Overall, Thinkific Labs has a GF Score™ of 72/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thinkific Labs' Beneish M-Score compare to CRM and SHOP?
According to the Software industry distribution chart, Thinkific Labs ranks #1553 out of 2633 companies for Beneish M-Score. This places Thinkific Labs 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 Software company?
A good Beneish M-Score depends on the Software 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 Thinkific Labs and its competitors. Thinkific Labs's current Beneish M-Score is -2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thinkific Labs stock overvalued right now?
Based on GuruFocus' analysis, Thinkific Labs (THNCF) is currently considered Significantly Undervalued. The stock's GF Value™ is $2.52, compared to a current price of $0.82 — trading 67.4% below its estimated fair value. The current Beneish M-Score is -2.40. Thinkific Labs' overall GF Score™ is 72/100 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 Thinkific Labs (THNCF), the current Beneish M-Score is -2.40 as of Jun. 24, 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 Thinkific Labs (THNCF) Overvalued in 2026?
Based on GuruFocus' analysis, Thinkific Labs stock appears to be undervalued.
The current stock price of $0.82 is trading 67.4% below its estimated GF Value™ of $2.52.
GuruFocus considers Thinkific Labs to be Significantly Undervalued.
Key valuation signals for THNCF:
Beneish M-Score: -2.40
GF Value™: $2.52 vs. price of $0.82 (67.4% below fair value)
No single metric tells the full story. See the THNCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thinkific Labs Inc is a cloud-based software platform. Its business activity is to provide a learning commerce platform that helps businesses scale and generate revenue through courses, communities, AI and commerce. The company's platform provides its customers with a learning commerce solution that enables them to create new revenue streams, retain customers, and build community through customized courses, membership sites, communities, digital products and other experiences. Its sources of revenue consist of software subscriptions to its cloud-based platform and revenue from payment processing. Geographically, it operates in Canada; United States, generating maximum revenue; and Rest of the World.
72GF Score
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