TRNR (Interactive Strength) Beneish M-Score: -4.56 (As of Jun. 25, 2026)


TRNR Interactive Strength Inc TRNR
13 GF Score
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What is Interactive Strength Beneish M-Score?

Interactive Strength TRNR -1.20% 13 Beneish M-Score is -4.56 as of Jun. 25, 2026. GuruFocus rates TRNR with a GF Score™ of 13/100. The stock has 6 warning signs investors should review. Among 92 Personal Services companies, Interactive Strength ranks better than 97.83% 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 -4.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TRNR' s Beneish M-Score Range Over the Past 10 Years
Min: -13.27   Med: -4.56   Max: 77.81
Current: -4.56

During the past 6 years, the highest Beneish M-Score of Interactive Strength was 77.81. The lowest was -13.27. And the median was -4.56.

Interactive Strength Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Interactive Strength'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.

Interactive Strength Beneish M-Score Chart

Interactive Strength Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 -13.27 3.94 -6.06

Interactive Strength Quarterly Data
Dec20 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 Premium Member Only Premium Member Only Premium Member Only 6.85 10.90 77.81 -6.06 -4.56

TRNR vs YYGH, IVPR, EJH: Beneish M-Score Comparison

For the Personal Services subindustry, Interactive Strength'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.

Interactive Strength Beneish M-Score vs Personal Services Industry

For the Personal Services industry and Consumer Cyclical sector, Interactive Strength's Beneish M-Score distribution charts can be found below:

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


TRNR
13GF Score
Interactive Strength Inc TRNR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Interactive Strength 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 Interactive Strength 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 * 0.2641+0.528 * -1.6012+0.404 * 1.1022+0.892 * 2.4026+0.115 * 1.1382
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.4241+4.679 * -0.300805-0.327 * 1.1026
=-4.56

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $2.73 Mil.
Revenue was 5.141 + 4.139 + 4.815 + 1.219 = $15.31 Mil.
Gross Profit was 1.609 + 0.584 + 0.825 + -0.194 = $2.82 Mil.
Total Current Assets was $14.05 Mil.
Total Assets was $60.64 Mil.
Property, Plant and Equipment(Net PPE) was $0.72 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.12 Mil.
Selling, General, & Admin. Expense(SGA) was $18.28 Mil.
Total Current Liabilities was $36.48 Mil.
Long-Term Debt & Capital Lease Obligation was $4.71 Mil.
Net Income was -10.743 + -9.956 + -5.231 + -2.18 = $-28.11 Mil.
Non Operating Income was -5.223 + -7.243 + 4.144 + 7.905 = $-0.42 Mil.
Cash Flow from Operations was -2.587 + -2.248 + -2.418 + -2.198 = $-9.45 Mil.
 Total Receivables was $4.30 Mil.
Revenue was 1.356 + 2.383 + 2.014 + 0.621 = $6.37 Mil.
Gross Profit was -0.304 + -0.41 + -0.288 + -0.88 = $-1.88 Mil.
Total Current Assets was $11.44 Mil.
Total Assets was $37.82 Mil.
Property, Plant and Equipment(Net PPE) was $0.42 Mil.
Depreciation, Depletion and Amortization(DDA) was $5.15 Mil.
Selling, General, & Admin. Expense(SGA) was $17.94 Mil.
Total Current Liabilities was $21.26 Mil.
Long-Term Debt & Capital Lease Obligation was $2.04 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)
=(2.726 / 15.314) / (4.296 / 6.374)
=0.178007 / 0.673988
=0.2641

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)
=(-1.882 / 6.374) / (2.824 / 15.314)
=-0.295262 / 0.184406
=-1.6012

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 - (14.049 + 0.72) / 60.644) / (1 - (11.444 + 0.418) / 37.816)
=0.756464 / 0.686323
=1.1022

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
=15.314 / 6.374
=2.4026

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))
=(5.15 / (5.15 + 0.418)) / (3.123 / (3.123 + 0.72))
=0.924928 / 0.812646
=1.1382

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)
=(18.278 / 15.314) / (17.938 / 6.374)
=1.193548 / 2.814245
=0.4241

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)
=((4.707 + 36.478) / 60.644) / ((2.037 + 21.256) / 37.816)
=0.679127 / 0.615956
=1.1026

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
=(-28.11 - -0.417 - -9.451) / 60.644
=-0.300805

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.

Interactive Strength has a M-score of -4.56 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 -4.56 mean?
Interactive Strength (TRNR) has a Beneish M-Score of -4.56 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Interactive Strength and its competitors. According to the industry distribution chart, Interactive Strength ranks #2 out of 92 companies in the Personal Services industry, placing it in the top 2.2%.
Is Interactive Strength's Beneish M-Score too high?
Interactive Strength's current Beneish M-Score is -4.56. Based on the distribution chart, Interactive Strength ranks #2 out of 92 companies in the Personal Services industry, which is in the top quartile — a strong position relative to peers. Overall, Interactive Strength has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Interactive Strength's Beneish M-Score compare to YYGH and IVPR?
According to the Personal Services industry distribution chart, Interactive Strength ranks #2 out of 92 companies for Beneish M-Score. This places Interactive Strength in the top 2% of its industry — outperforming the majority of peers. 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 Personal Services company?
A good Beneish M-Score depends on the Personal 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 Interactive Strength and its competitors. Interactive Strength's current Beneish M-Score is -4.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Interactive Strength stock overvalued right now?
Interactive Strength (TRNR) has a current Beneish M-Score of -4.56. The current Beneish M-Score is -4.56. Interactive Strength's overall GF Score™ is 13/100 with 6 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 Interactive Strength (TRNR), the current Beneish M-Score is -4.56 as of Jun. 25, 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.

Interactive Strength Business Description

Address 1005 Congress Avenue, Suite 925, Austin, TX, USA, 78701
Interactive Strength Inc provides an integrated home fitness platform that allows its customers to participate in interactive wellness and strength-based training sessions. Its health coaching services encompass guidance and coaching on nutrition, recovery, sleep, and other health and lifestyle categories. The company generates revenue from sales of its connected fitness products, membership revenue, and personal training revenue.
13GF Score

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