TPET (Trio Petroleum) Beneish M-Score: 0.00 (As of Jun. 27, 2026)

What is Trio Petroleum Beneish M-Score?

Trio Petroleum TPET +0.80% 34 Beneish M-Score is 0.00 as of Jun. 27, 2026. GuruFocus rates TPET with a GF Score™ of 34/100. The stock has 5 warning signs investors should review. Among 822 Oil & Gas companies, Trio Petroleum ranks worse than 121654.38% 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 Trio Petroleum's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Trio Petroleum was 0.00. The lowest was 0.00. And the median was 0.00.

Trio Petroleum Beneish M-Score Related Terms

Trio Petroleum Beneish M-Score Historical Data

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The historical data trend for Trio Petroleum'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.

Trio Petroleum Beneish M-Score Chart

Trio Petroleum Annual Data

Trend

Oct21

Oct22

Oct23

Oct24

Oct25

Beneish M-Score

0.00

Trio Petroleum Quarterly Data
	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25	Apr25	Jul25	Oct25	Jan26	Apr26
Beneish M-Score	Get a 7-Day Free Trial														0.00	0.00	0.00	0.00	0.00

TPET vs BRN, GULTU, ROYL: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Trio Petroleum'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.

Trio Petroleum Beneish M-Score vs Oil & Gas Industry

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

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

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Trio Petroleum Corp TPET

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Trio Petroleum 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 Trio Petroleum 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Apr26) TTM:

Last Year (Apr25) TTM:

Total Receivables was $0.11 Mil.
Revenue was 0.208 + 0.122 + 0.172 + 0.192 = $0.69 Mil.
Gross Profit was -0.106 + 0.054 + 0.104 + 0.094 = $0.15 Mil.
Total Current Assets was $22.46 Mil.
Total Assets was $35.72 Mil.
Property, Plant and Equipment(Net PPE) was $13.27 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $5.48 Mil.
Total Current Liabilities was $1.00 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -1.367 + -1.013 + -2.716 + -1.387 = $-6.48 Mil.
Non Operating Income was 0.06 + -0.072 + -0.095 + -0.564 = $-0.67 Mil.
Cash Flow from Operations was -1.62 + -0.534 + -0.589 + -0.355 = $-3.10 Mil.

Total Receivables was $0.03 Mil.
Revenue was 0.023 + 0.011 + 0.077 + 0.063 = $0.17 Mil.
Gross Profit was 0.014 + 0.011 + 0.077 + 0.063 = $0.17 Mil.
Total Current Assets was $1.74 Mil.
Total Assets was $13.77 Mil.
Property, Plant and Equipment(Net PPE) was $12.03 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $4.98 Mil.
Total Current Liabilities was $2.27 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
	=	(0.107 / 0.694)	/	(0.032 / 0.174)
	=	0.154179	/	0.183908
	=

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)
	=	(0.165 / 0.174)	/	(0.146 / 0.694)
	=	0.948276	/	0.210375
	=

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 - (22.458 + 13.266) / 35.724)	/	(1 - (1.739 + 12.032) / 13.771)
	=	0	/	0
	=

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
	=	0.694	/	0.174
	=

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 / (0 + 12.032))	/	(0 / (0 + 13.266))
	=	0	/	0
	=

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)
	=	(5.477 / 0.694)	/	(4.977 / 0.174)
	=	7.891931	/	28.603448
	=

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 + 0.999) / 35.724)	/	((0 + 2.271) / 13.771)
	=	0.027964	/	0.164912
	=

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
	=	(-6.483 - -0.671	-	-3.098)	/	35.724
	=	-0.075971

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?

Trio Petroleum (TPET) has a Beneish M-Score of 0.00 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Trio Petroleum and its competitors. According to the industry distribution chart, Trio Petroleum ranks #999999 out of 822 companies in the Oil & Gas industry.

Is Trio Petroleum's Beneish M-Score too high?

Trio Petroleum's current Beneish M-Score is 0.00. Based on the distribution chart, Trio Petroleum ranks #999999 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Trio Petroleum has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.

How does Trio Petroleum's Beneish M-Score compare to BRN and GULTU?

According to the Oil & Gas industry distribution chart, Trio Petroleum ranks #999999 out of 822 companies for Beneish M-Score. This places Trio Petroleum 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 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 Trio Petroleum and its competitors. Trio Petroleum'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 Trio Petroleum stock overvalued right now?

Trio Petroleum (TPET) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Trio Petroleum's overall GF Score™ is 34/100 with 5 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 Trio Petroleum (TPET), the current Beneish M-Score is 0.00 as of Jun. 27, 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.

Trio Petroleum Business Description

Industry Energy Oil & Gas

Comparable Companies BRN GULTU ROYL NRIS HGTXU MTR MXC OKMN MVO CKX HKSE:00883 COP TSX:CNQ EOG OXY FANG DVN ASX:WDS EQT TPL

Address 23823 Malibu Road, Suite 304, Malibu, CA, USA, 90265

Website https://www.trio-petroleum.com

Trio Petroleum Corp is an oil and gas exploration and development company with operations in Monterey County, California, and Uintah County, Utah. The Company holds a working interest in the South Salinas Project and a mineral leasehold consisting of a largely contiguous land package. The South Salinas Project includes six existing idle wells and one active well (the HV-1 well). Trio LLC is a licensed operator in California and operates the South Salinas Project and the McCool Ranch Oil Field on behalf of the Company.

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