Carrier Connect Data Solutions (TSXV:CCDS) Beneish M-Score: 0.00 (As of Jul. 11, 2026)


TSXV:CCDS Carrier Connect Data Solutions Inc TSXV:CCDS
11 GF Score
Price C$1.20
! 3 Warning Signs
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What is Carrier Connect Data Solutions Beneish M-Score?

Carrier Connect Data Solutions TSXV:CCDS +9.09% 11 Beneish M-Score is 0.00 as of Jul. 11, 2026. GuruFocus rates TSXV:CCDS with a GF Score™ of 11/100. The stock has 3 warning signs investors should review. Among 2,627 Software companies, Carrier Connect Data Solutions ranks worse than 38066.2% 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 Carrier Connect Data Solutions's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Carrier Connect Data Solutions was -3.98. The lowest was -3.98. And the median was -3.98.

Carrier Connect Data Solutions Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Carrier Connect Data Solutions'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.

Carrier Connect Data Solutions Beneish M-Score Chart

Carrier Connect Data Solutions Annual Data
Trend Jun23 Jun24 Jun25
Beneish M-Score
0.00 0.00 -3.98

Carrier Connect Data Solutions Quarterly Data
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 0.00 -3.98 0.00 0.00 0.00

TSXV:CCDS vs IBM, ACN, FISV: Beneish M-Score Comparison

For the Information Technology Services subindustry, Carrier Connect Data Solutions'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.

Carrier Connect Data Solutions Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Carrier Connect Data Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Carrier Connect Data Solutions's Beneish M-Score falls into.


TSXV:CCDS
11GF Score
Carrier Connect Data Solutions Inc TSXV:CCDS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Carrier Connect Data Solutions 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 Carrier Connect Data Solutions 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was C$0.38 Mil.
Revenue was 0.91 + 0.425 + 0.226 + 0.213 = C$1.77 Mil.
Gross Profit was 0.295 + 0.231 + 0.072 + 0.113 = C$0.71 Mil.
Total Current Assets was C$10.53 Mil.
Total Assets was C$32.91 Mil.
Property, Plant and Equipment(Net PPE) was C$13.77 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.85 Mil.
Selling, General, & Admin. Expense(SGA) was C$2.05 Mil.
Total Current Liabilities was C$3.20 Mil.
Long-Term Debt & Capital Lease Obligation was C$8.62 Mil.
Net Income was -1.658 + -1.018 + 0.23 + -0.744 = C$-3.19 Mil.
Non Operating Income was -0.235 + 0.13 + 0.522 + -0.197 = C$0.22 Mil.
Cash Flow from Operations was -0.507 + -1.815 + -0.16 + -0.556 = C$-3.04 Mil.
 Total Receivables was C$0.04 Mil.
Revenue was 0.096 + 0.091 + 0.087 + 0.091 = C$0.37 Mil.
Gross Profit was 0.039 + 0.033 + 0.043 + 0.045 = C$0.16 Mil.
Total Current Assets was C$0.77 Mil.
Total Assets was C$2.16 Mil.
Property, Plant and Equipment(Net PPE) was C$1.39 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.21 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.01 Mil.
Total Current Liabilities was C$0.31 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.98 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)
=(0.382 / 1.774) / (0.041 / 0.365)
=0.215333 / 0.112329
=

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)
=(0.16 / 0.365) / (0.711 / 1.774)
=0.438356 / 0.400789
=

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 - (10.531 + 13.774) / 32.907) / (1 - (0.772 + 1.391) / 2.163)
=0.261403 / -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
=1.774 / 0.365
=

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))
=(0.214 / (0.214 + 1.391)) / (0.853 / (0.853 + 13.774))
=0.133333 / 0.058317
=

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)
=(2.045 / 1.774) / (0.005 / 0.365)
=1.152762 / 0.013699
=

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)
=((8.619 + 3.204) / 32.907) / ((0.981 + 0.309) / 2.163)
=0.359285 / 0.596394
=

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
=(-3.19 - 0.22 - -3.038) / 32.907
=-0.011305

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?
Carrier Connect Data Solutions (TSXV:CCDS) has a Beneish M-Score of 0.00 as of Jul. 11, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Carrier Connect Data Solutions and its competitors. According to the industry distribution chart, Carrier Connect Data Solutions ranks #999999 out of 2627 companies in the Software industry.
Is Carrier Connect Data Solutions' Beneish M-Score too high?
Carrier Connect Data Solutions' current Beneish M-Score is 0.00. Based on the distribution chart, Carrier Connect Data Solutions ranks #999999 out of 2627 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Carrier Connect Data Solutions has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Carrier Connect Data Solutions' Beneish M-Score compare to IBM and ACN?
According to the Software industry distribution chart, Carrier Connect Data Solutions ranks #999999 out of 2627 companies for Beneish M-Score. This places Carrier Connect Data Solutions 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 Software company?
A good Beneish M-Score depends on the Software 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 Carrier Connect Data Solutions and its competitors. Carrier Connect Data Solutions'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 Carrier Connect Data Solutions stock overvalued right now?
Carrier Connect Data Solutions (TSXV:CCDS) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Carrier Connect Data Solutions' overall GF Score™ is 11/100 with 3 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 Carrier Connect Data Solutions (TSXV:CCDS), the current Beneish M-Score is 0.00 as of Jul. 11, 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.

Carrier Connect Data Solutions Business Description

Other Exchanges F5Z0:Germany
Address 885 West Georgia Street, Suite 2200, Vancouver, BC, CAN, V6C 3E8
Carrier Connect Data Solutions Inc operates a Tier II/III data center located in downtown Vancouver, British Columbia, and specializes in delivering co-location and data center solutions to service providers, enterprises and small businesses. Data centers are the physical locations that store computing machines and their related hardware equipment, such as servers, data storage drives, and network equipment. As a carrier-neutral facility, Carrier's systems are fully independent and owned outright within its leased space. The current principal market for Carrier is the Vancouver Metropolitan Area, where it serves clients who use its facility either as their primary data center or as an ancillary site depending on their needs.
11GF Score

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

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