Composite Alliance Group (TSXV:CAG) Beneish M-Score: -4.15 (As of Jun. 29, 2026)

What is Composite Alliance Group Beneish M-Score?

Composite Alliance Group TSXV:CAG -60.00% Beneish M-Score is -4.15 as of Jun. 29, 2026. The stock has 6 warning signs investors should review. Among 2,918 Industrial Products companies, Composite Alliance Group ranks better than 96.88% 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 -4.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSXV:CAG' s Beneish M-Score Range Over the Past 10 Years
Min: -4.26 Med: -3.08 Max: -1.4
Current: -4.15

During the past 13 years, the highest Beneish M-Score of Composite Alliance Group was -1.40. The lowest was -4.26. And the median was -3.08.

Composite Alliance Group Beneish M-Score Related Terms

Composite Alliance Group Beneish M-Score Historical Data

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The historical data trend for Composite Alliance Group'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.

Composite Alliance Group Beneish M-Score Chart

Composite Alliance Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.07

-1.40

-3.31

-2.84

-4.15

Composite Alliance Group Quarterly Data
	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															-2.84	-1.98	-1.44	-1.45	-4.15

TSXV:CAG vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Composite Alliance Group'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.

Composite Alliance Group Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Composite Alliance Group's Beneish M-Score distribution charts can be found below:

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

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Composite Alliance Group 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 Composite Alliance Group 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 * 0.906

0.528 * 1.0618

0.404 * 0.0375

0.892 * 0.8

0.115 * 0.4735

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0807

4.679 * -0.189811

0.327 * 1.2553

-4.15

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was C$8.78 Mil.
Revenue was 1.186 + 0.812 + 3.294 + 3.333 = C$8.63 Mil.
Gross Profit was -0.273 + -0.065 + 1.776 + 1.789 = C$3.23 Mil.
Total Current Assets was C$10.94 Mil.
Total Assets was C$11.03 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$1.15 Mil.
Selling, General, & Admin. Expense(SGA) was C$4.66 Mil.
Total Current Liabilities was C$9.34 Mil.
Long-Term Debt & Capital Lease Obligation was C$8.62 Mil.
Net Income was -5.802 + -1.685 + -0.301 + -0.048 = C$-7.84 Mil.
Non Operating Income was -4.609 + 0.031 + 0.17 + -0.076 = C$-4.48 Mil.
Cash Flow from Operations was 1.519 + -0.405 + -0.114 + -2.258 = C$-1.26 Mil.

Total Receivables was C$12.11 Mil.
Revenue was 4.909 + 3.276 + 1.657 + 0.939 = C$10.78 Mil.
Gross Profit was 2.187 + 1.199 + 0.904 + -0.007 = C$4.28 Mil.
Total Current Assets was C$12.70 Mil.
Total Assets was C$17.78 Mil.
Property, Plant and Equipment(Net PPE) was C$1.03 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.93 Mil.
Selling, General, & Admin. Expense(SGA) was C$5.39 Mil.
Total Current Liabilities was C$15.47 Mil.
Long-Term Debt & Capital Lease Obligation was C$7.58 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)
	=	(8.776 / 8.625)	/	(12.108 / 10.781)
	=	1.017507	/	1.123087
	=	0.906

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)
	=	(4.283 / 10.781)	/	(3.227 / 8.625)
	=	0.397273	/	0.374145
	=	1.0618

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 - (10.938 + 0) / 11.032)	/	(1 - (12.703 + 1.034) / 17.781)
	=	0.008521	/	0.227434
	=	0.0375

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
	=	8.625	/	10.781
	=	0.8

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))
	=	(0.93 / (0.93 + 1.034))	/	(1.151 / (1.151 + 0))
	=	0.473523	/	1
	=	0.4735

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)
	=	(4.661 / 8.625)	/	(5.391 / 10.781)
	=	0.540406	/	0.500046
	=	1.0807

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)
	=	((8.615 + 9.336) / 11.032)	/	((7.583 + 15.465) / 17.781)
	=	1.627175	/	1.296215
	=	1.2553

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
	=	(-7.836 - -4.484	-	-1.258)	/	11.032
	=	-0.189811

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.

Composite Alliance Group has a M-score of -4.15 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 -4.15 mean?

Composite Alliance Group (TSXV:CAG) has a Beneish M-Score of -4.15 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Composite Alliance Group and its competitors. According to the industry distribution chart, Composite Alliance Group ranks #91 out of 2918 companies in the Industrial Products industry, placing it in the top 3.1%.

Is Composite Alliance Group's Beneish M-Score too high?

Composite Alliance Group's current Beneish M-Score is -4.15. Based on the distribution chart, Composite Alliance Group ranks #91 out of 2918 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers.

How does Composite Alliance Group's Beneish M-Score compare to GEV and ETN?

According to the Industrial Products industry distribution chart, Composite Alliance Group ranks #91 out of 2918 companies for Beneish M-Score. This places Composite Alliance Group in the top 3% 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 an Industrial Products company?

A good Beneish M-Score depends on the Industrial Products 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 Composite Alliance Group and its competitors. Composite Alliance Group's current Beneish M-Score is -4.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Composite Alliance Group stock overvalued right now?

Based on GuruFocus' analysis, Composite Alliance Group (TSXV:CAG) is currently considered Fairly Valued. The stock's GF Value™ is C$0.01, compared to a current price of C$0.01 — trading right at its estimated fair value. The current Beneish M-Score is -4.15. 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 Composite Alliance Group (TSXV:CAG), the current Beneish M-Score is -4.15 as of Jun. 29, 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.

Composite Alliance Group Business Description

Industry Industrials Industrial Products

Comparable Companies XCNQ:RAIN GEV XTER:SIE XPAR:SU ETN XTER:ENR PH CMI OSTO:ATCO A EMR ITW TSE:7011 AME ROK OSTO:SAND TSE:6954 XSWX:SCHN XKRX:034020 IR DOV

Address 333 - 7th Avenue SW, Suite 800, Calgary, AB, CAN, T2P 2Z1

Website https://www.compositealliancegroup.com

Composite Alliance Group Inc provides industrial turn-key solutions by designing and manufacturing the machines. It offers machines and processes to fabricate composite materials for the aerospace and automotive industries. Geographically, it operates in Europe, Asia, and North America, out of which a majority of its revenue is from Asia.