Beyond Oil (TSX:BOIL) Beneish M-Score: 0.26 (As of Jun. 27, 2026) — Near Median

What is Beyond Oil Beneish M-Score?

Beyond Oil TSX:BOIL -1.23% 42 Beneish M-Score is 0.26 as of Jun. 27, 2026, which is at its 10-year median of 0.26. GuruFocus rates TSX:BOIL with a GF Score™ of 42/100 and a GF Value™ of C$8.82 (Possible Value Trap). The stock has 1 warning sign investors should review. Among 1,849 Consumer Packaged Goods companies, Beyond Oil ranks worse than 94.81% 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.

Warning Sign:

Beneish M-Score 0.26 higher than -1.78, which implies that the company might have manipulated its financial results.

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

TSX:BOIL' s Beneish M-Score Range Over the Past 10 Years
Min: -6.74 Med: 0.26 Max: 30.37
Current: 0.26

During the past 5 years, the highest Beneish M-Score of Beyond Oil was 30.37. The lowest was -6.74. And the median was 0.26.

Beyond Oil Beneish M-Score Related Terms

Beyond Oil Beneish M-Score Historical Data

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The historical data trend for Beyond Oil'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.

Beyond Oil Beneish M-Score Chart

Beyond Oil Annual Data

Trend

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

0.00

-3.15

1.59

Beyond Oil Quarterly Data
	Jun21	Sep21	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															-6.74	5.40	4.63	1.59	0.26

TSX:BOIL vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Beyond Oil'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.

Beyond Oil Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Beyond Oil's Beneish M-Score distribution charts can be found below:

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

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42GF Score

Beyond Oil Ltd TSX:BOIL

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

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Beyond Oil 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 Beyond Oil 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 * 1.2314

0.528 * 0.9518

0.404 * 0.5785

0.892 * 3.0623

0.115 * 1.4356

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6984

4.679 * 0.105645

0.327 * 0.1248

0.26

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was C$3.75 Mil.
Revenue was 1.722 + 1.709 + 1.616 + 1.494 = C$6.54 Mil.
Gross Profit was 0.915 + 0.8 + 0.761 + 0.841 = C$3.32 Mil.
Total Current Assets was C$16.69 Mil.
Total Assets was C$21.75 Mil.
Property, Plant and Equipment(Net PPE) was C$0.85 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.53 Mil.
Selling, General, & Admin. Expense(SGA) was C$12.18 Mil.
Total Current Liabilities was C$2.40 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.36 Mil.
Net Income was -2.556 + -3.567 + -2.137 + -1.166 = C$-9.43 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = C$0.00 Mil.
Cash Flow from Operations was -3.18 + -1.486 + -2.99 + -4.068 = C$-11.72 Mil.

Total Receivables was C$1.00 Mil.
Revenue was 1.451 + 0.457 + 0.18 + 0.048 = C$2.14 Mil.
Gross Profit was 0.736 + 0.201 + 0.072 + 0.022 = C$1.03 Mil.
Total Current Assets was C$7.66 Mil.
Total Assets was C$12.09 Mil.
Property, Plant and Equipment(Net PPE) was C$0.38 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.47 Mil.
Selling, General, & Admin. Expense(SGA) was C$5.69 Mil.
Total Current Liabilities was C$12.22 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.07 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)
	=	(3.752 / 6.541)	/	(0.995 / 2.136)
	=	0.573613	/	0.465824
	=	1.2314

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)
	=	(1.031 / 2.136)	/	(3.317 / 6.541)
	=	0.482678	/	0.507109
	=	0.9518

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 - (16.693 + 0.849) / 21.752)	/	(1 - (7.663 + 0.383) / 12.091)
	=	0.193545	/	0.334546
	=	0.5785

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
	=	6.541	/	2.136
	=	3.0623

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))
	=	(0.469 / (0.469 + 0.383))	/	(0.528 / (0.528 + 0.849))
	=	0.550469	/	0.383442
	=	1.4356

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)
	=	(12.175 / 6.541)	/	(5.693 / 2.136)
	=	1.861336	/	2.665262
	=	0.6984

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)
	=	((0.355 + 2.404) / 21.752)	/	((0.07 + 12.218) / 12.091)
	=	0.126839	/	1.016293
	=	0.1248

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
	=	(-9.426 - 0	-	-11.724)	/	21.752
	=	0.105645

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.

Beyond Oil has a M-score of 0.26 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 0.26 mean?

Beyond Oil (TSX:BOIL) has a Beneish M-Score of 0.26 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Beyond Oil and its competitors. This is near median its historical median of 0.26. According to the industry distribution chart, Beyond Oil ranks #1753 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 94.8%.

Is Beyond Oil's Beneish M-Score too high?

Beyond Oil's current Beneish M-Score of 0.26 is near median its 10-year median of 0.26. Based on the distribution chart, Beyond Oil ranks #1753 out of 1849 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Beyond Oil has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Beyond Oil's Beneish M-Score compare to KHC and GIS?

According to the Consumer Packaged Goods industry distribution chart, Beyond Oil ranks #1753 out of 1849 companies for Beneish M-Score. This places Beyond Oil 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 Consumer Packaged Goods company?

A good Beneish M-Score depends on the Consumer Packaged Goods 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 Beyond Oil and its competitors. Beyond Oil's current Beneish M-Score is 0.26, which is near median its own 10-year median of 0.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Beyond Oil stock overvalued right now?

Based on GuruFocus' analysis, Beyond Oil (TSX:BOIL) is currently considered Possible Value Trap. The stock's GF Value™ is C$8.82, compared to a current price of C$2.40 — trading 72.8% below its estimated fair value. The current Beneish M-Score is 0.26, which is near median its 10-year median of 0.26. Beyond Oil's overall GF Score™ is 42/100 with 1 warning sign 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 Beyond Oil (TSX:BOIL), the current Beneish M-Score is 0.26 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.

Is Beyond Oil (TSX:BOIL) Overvalued in 2026?

Based on GuruFocus' analysis, Beyond Oil stock appears to be undervalued. The current stock price of C$2.40 is trading 72.8% below its estimated GF Value™ of C$8.82. GuruFocus considers Beyond Oil to be Possible Value Trap.

Key valuation signals for TSX:BOIL:

Beneish M-Score: 0.26 (near median its 10-year median of 0.26)
GF Value™: C$8.82 vs. price of C$2.40 (72.8% below fair value)
GF Score™: 42/100 with 1 warning sign

No single metric tells the full story. See the TSX:BOIL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Beyond Oil Business Description

Industry Consumer Defensive Consumer Packaged Goods

Comparable Companies XCNQ:HBFG NEOE:CZZL XCNQ:NPRA TSX:SWP TSXV:FRSH XCNQ:STIF TSX:BU TSXV:IRO XCNQ:BPC XCNQ:MUSL XSWX:NESN XPAR:BN BOG:NUTRESA TSE:2802 SHSE:603288 NSE:NESTLEIND KHC SHSE:600887 SZSE:300999 GIS

Other Exchanges BEOLF:USA UH9:Germany

Address 1 Adelaide Street East, Suite 801, Toronto, ON, CAN, M5C 2V9

Website https://www.beyondoil.co

Beyond Oil Ltd is a food-tech company that has developed a solution to reduce free fatty acids from oil while preserving the oil's quality and nutritional value. The company develops products that extend the usable life of frying oil, improve food quality, and reduce frying oil costs. It offers FryDay, which is an active filter powder that eliminates harmful Free Fatty Acids (FFA) generated in the oil.

42GF Score

Get the complete analysis for TSX:BOIL

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

C$2.40

Price

C$8.82

GF Value

View TSX:BOIL Analysis

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