Adya (TSXV:ADYA) Beneish M-Score: 0.00 (As of Jul. 05, 2026)


TSXV:ADYA Adya Inc TSXV:ADYA
13 GF Score
Price C$0.37
GF Value C$0.09
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Adya Beneish M-Score?

Adya TSXV:ADYA 13 Beneish M-Score is 0.00 as of Jul. 05, 2026. GuruFocus rates TSXV:ADYA with a GF Score™ of 13/100 and a GF Value™ of C$0.09 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 351 Telecommunication Services companies, Adya ranks worse than 284900% 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 Adya's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Adya was 17.55. The lowest was -9.42. And the median was -3.71.

Adya Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Adya'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.

Adya Beneish M-Score Chart

Adya Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.45 -6.17 -7.82 -8.98 0.00

Adya Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25
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 Premium Member Only 0.00 0.00 4.30 17.55 0.00

TSXV:ADYA vs TMUS, VZ, T: Beneish M-Score Comparison

For the Telecom Services subindustry, Adya'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.

Adya Beneish M-Score vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Adya's Beneish M-Score distribution charts can be found below:

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


TSXV:ADYA
13GF Score
Adya Inc TSXV:ADYA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Adya 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 Adya 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was C$0.56 Mil.
Revenue was 2.396 + 2.494 + 0.236 + 0.772 = C$5.90 Mil.
Gross Profit was -0.32 + 0.354 + 0.092 + 0.603 = C$0.73 Mil.
Total Current Assets was C$0.94 Mil.
Total Assets was C$1.45 Mil.
Property, Plant and Equipment(Net PPE) was C$0.51 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.24 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.97 Mil.
Total Current Liabilities was C$2.29 Mil.
Long-Term Debt & Capital Lease Obligation was C$4.11 Mil.
Net Income was -0.717 + 0.017 + -0.229 + 0.182 = C$-0.75 Mil.
Non Operating Income was 0 + 0.004 + 0.001 + 0.001 = C$0.01 Mil.
Cash Flow from Operations was -0.432 + -0.333 + -0.235 + -0.636 = C$-1.64 Mil.
 Total Receivables was C$0.07 Mil.
Revenue was 0.333 + 0.3 + 0.385 + 0.459 = C$1.48 Mil.
Gross Profit was 0.045 + 0.133 + 0.229 + 0.269 = C$0.68 Mil.
Total Current Assets was C$0.41 Mil.
Total Assets was C$0.41 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.08 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.19 Mil.
Total Current Liabilities was C$4.61 Mil.
Long-Term Debt & Capital Lease Obligation was C$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)
=(0.556 / 5.898) / (0.066 / 1.477)
=0.094269 / 0.044685
=

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)
=(0.676 / 1.477) / (0.729 / 5.898)
=0.457684 / 0.123601
=

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 - (0.943 + 0.506) / 1.449) / (1 - (0.411 + 0.001) / 0.412)
=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
=5.898 / 1.477
=

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))
=(0.082 / (0.082 + 0.001)) / (0.235 / (0.235 + 0.506))
=0.987952 / 0.317139
=

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)
=(0.974 / 5.898) / (1.194 / 1.477)
=0.165141 / 0.808395
=

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)
=((4.109 + 2.291) / 1.449) / ((0 + 4.614) / 0.412)
=4.416839 / 11.199029
=

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
=(-0.747 - 0.006 - -1.636) / 1.449
=0.609386

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?
Adya (TSXV:ADYA) has a Beneish M-Score of 0.00 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Adya and its competitors. According to the industry distribution chart, Adya ranks #999999 out of 351 companies in the Telecommunication Services industry.
Is Adya's Beneish M-Score too high?
Adya's current Beneish M-Score is 0.00. Based on the distribution chart, Adya ranks #999999 out of 351 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, Adya has a GF Score™ of 13/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Adya's Beneish M-Score compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Adya ranks #999999 out of 351 companies for Beneish M-Score. This places Adya 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 Telecommunication Services company?
A good Beneish M-Score depends on the Telecommunication 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 Adya and its competitors. Adya'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 Adya stock overvalued right now?
Based on GuruFocus' analysis, Adya (TSXV:ADYA) is currently considered Significantly Overvalued. The stock's GF Value™ is C$0.09, compared to a current price of C$0.37 — trading 311.1% above its estimated fair value. The current Beneish M-Score is 0.00. Adya'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 Adya (TSXV:ADYA), the current Beneish M-Score is 0.00 as of Jul. 05, 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 Adya (TSXV:ADYA) Overvalued in 2026?

Based on GuruFocus' analysis, Adya stock appears to be overvalued. The current stock price of C$0.37 is trading 311.1% above its estimated GF Value™ of C$0.09. GuruFocus considers Adya to be Significantly Overvalued.

Key valuation signals for TSXV:ADYA:

  • Beneish M-Score: 0.00
  • GF Value™: C$0.09 vs. price of C$0.37 (311.1% above fair value)
  • GF Score™: 13/100 with 6 warning signs

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

Adya Business Description

Address 1650 Elgin Mills Road, East, Suite 301, Richmond Hill, ON, CAN, L4S 0B2
Adya Inc is a full-service telecommunication provider. Its main service is to provide long-distance services through access to its network, which has the capability to track pertinent data for each individual call to a particular country destination. The company earns its revenues from access to, and usage of, its telecommunications network by its customers. Geographically, the company operates in United States and Canada with majority of the revenue generating from Canada.
13GF Score

Get the complete analysis for TSXV:ADYA

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

C$0.37
Price
C$0.09
GF Value