Pond Technologies Holdings (TSXV:POND) Beneish M-Score: 0.00 (As of Jul. 02, 2026)


What is Pond Technologies Holdings Beneish M-Score?

Pond Technologies Holdings TSXV:POND Beneish M-Score is 0.00 as of Jul. 02, 2026. The stock has 4 warning signs investors should review.

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 Pond Technologies Holdings's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Pond Technologies Holdings was 352.60. The lowest was -12.07. And the median was -4.46.

Pond Technologies Holdings Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Pond Technologies Holdings'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.

Pond Technologies Holdings Beneish M-Score Chart

Pond Technologies Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -4.87 -4.37 -4.80 0.00 0.00

Pond Technologies Holdings 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 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 0.00 0.00 0.00

TSXV:POND vs ADM, TSN, BG: Beneish M-Score Comparison

For the Farm Products subindustry, Pond Technologies Holdings'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.

Pond Technologies Holdings Beneish M-Score vs Consumer Packaged Goods Industry

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

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


Pond Technologies Holdings 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 Pond Technologies Holdings 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$0.00 Mil.
Revenue was 0 + -1.607 + 0.565 + 0.63 = C$-0.41 Mil.
Gross Profit was 0 + -1.607 + 0.14 + 0.174 = C$-1.29 Mil.
Total Current Assets was C$0.57 Mil.
Total Assets was C$0.57 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.14 Mil.
Selling, General, & Admin. Expense(SGA) was C$-0.31 Mil.
Total Current Liabilities was C$12.41 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was -0.813 + -0.618 + -0.63 + -0.724 = C$-2.79 Mil.
Non Operating Income was 0.006 + 0.141 + 0.046 + 0 = C$0.19 Mil.
Cash Flow from Operations was -0.288 + 0 + -0.183 + -0.37 = C$-0.84 Mil.
 Total Receivables was C$0.19 Mil.
Revenue was 0 + -1.588 + 0.362 + 0.738 = C$-0.49 Mil.
Gross Profit was 0.098 + 0.148 + 0.105 + 0.194 = C$0.55 Mil.
Total Current Assets was C$0.63 Mil.
Total Assets was C$1.18 Mil.
Property, Plant and Equipment(Net PPE) was C$0.55 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.44 Mil.
Selling, General, & Admin. Expense(SGA) was C$-0.11 Mil.
Total Current Liabilities was C$9.36 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.89 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 / -0.412) / (0.19 / -0.488)
= /
=

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)
=(0.545 / -0.488) / (-1.293 / -0.412)
= /
=

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 - (0.567 + 0) / 0.567) / (1 - (0.626 + 0.551) / 1.177)
=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
=-0.412 / -0.488
=

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))
=(0.435 / (0.435 + 0.551)) / (0.14 / (0.14 + 0))
=0.441176 / 1
=

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)
=(-0.312 / -0.412) / (-0.113 / -0.488)
= /
=

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 + 12.414) / 0.567) / ((0.892 + 9.362) / 1.177)
=21.89418 / 8.71198
=

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
=(-2.785 - 0.193 - -0.841) / 0.567
=-3.768959

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?
Pond Technologies Holdings (TSXV:POND) has a Beneish M-Score of 0.00 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Pond Technologies Holdings and its competitors.
Is Pond Technologies Holdings' Beneish M-Score too high?
Pond Technologies Holdings' current Beneish M-Score is 0.00.
How does Pond Technologies Holdings' Beneish M-Score compare to ADM and TSN?
Pond Technologies Holdings' Beneish M-Score of 0.00 can be compared against companies in the Consumer Packaged Goods 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 Pond Technologies Holdings and its competitors. Pond Technologies Holdings'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 Pond Technologies Holdings stock overvalued right now?
Pond Technologies Holdings (TSXV:POND) has a current Beneish M-Score of 0.00. 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 0.00. 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 Pond Technologies Holdings (TSXV:POND), the current Beneish M-Score is 0.00 as of Jul. 02, 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.

Pond Technologies Holdings Business Description

Address 250 Shields Court, Unit 8, Markham, ON, CAN, L3R 9W2
Pond Technologies Holdings Inc is a Canada Based company. The Company's primary business is to pursue microalgal biomass cultivation using available sources of carbon dioxide (CO2), including CO2 rich emission sources from industrial plants and the licensing of its technology. The resultant algae can be used in the production of nutraceuticals, commonly known as superfoods, growth of algae strains for the expression of complex proteins used in diagnostics and therapeutic treatments, aquaculture, and animal feeds. The Company has formed a nutraceutical business segment and is actively pursuing opportunities in the nutraceutical and superfood marketplace.