Principal Technologies (TSXV:PTEC) Beneish M-Score: -5.96 (As of Jun. 27, 2026)


TSXV:PTEC Principal Technologies Inc TSXV:PTEC
22 GF Score
Price C$0.38
GF Value C$0.03
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Principal Technologies Beneish M-Score?

Principal Technologies TSXV:PTEC 22 Beneish M-Score is -5.96 as of Jun. 27, 2026. GuruFocus rates TSXV:PTEC with a GF Score™ of 22/100 and a GF Value™ of C$0.03 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 633 Healthcare Providers & Services companies, Principal Technologies ranks better than 97% 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 -5.96 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TSXV:PTEC' s Beneish M-Score Range Over the Past 10 Years
Min: -8.07   Med: -4.48   Max: -1.16
Current: -5.96

During the past 6 years, the highest Beneish M-Score of Principal Technologies was -1.16. The lowest was -8.07. And the median was -4.48.

Principal Technologies Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Principal Technologies'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.

Principal Technologies Beneish M-Score Chart

Principal Technologies Annual Data
Trend Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 -5.16 -2.43 -5.08

Principal Technologies Quarterly Data
Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26
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 -3.97 -4.65 -5.08 -8.07 -5.96

TSXV:PTEC vs VEEV, BTSG, TEM: Beneish M-Score Comparison

For the Health Information Services subindustry, Principal Technologies'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.

Principal Technologies Beneish M-Score vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Principal Technologies's Beneish M-Score distribution charts can be found below:

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


TSXV:PTEC
22GF Score
Principal Technologies Inc TSXV:PTEC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Principal Technologies 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 Principal Technologies 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 * 0.2139+0.528 * 1+0.404 * 1.7183+0.892 * 0.5335+0.115 * 1.9449
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 3.6313+4.679 * -0.4-0.327 * 2.2729
=-5.96

* 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 (Jan26) TTM:Last Year (Jan25) TTM:
Total Receivables was C$0.02 Mil.
Revenue was 0 + 0 + 0.087 + 0.08 = C$0.17 Mil.
Gross Profit was 0 + 0 + 0.087 + 0.08 = C$0.17 Mil.
Total Current Assets was C$0.60 Mil.
Total Assets was C$0.87 Mil.
Property, Plant and Equipment(Net PPE) was C$0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$3.22 Mil.
Total Current Liabilities was C$1.32 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was -1.528 + -0.788 + -1.693 + -1.445 = C$-5.45 Mil.
Non Operating Income was 0.029 + -0.132 + 0.025 + -0.047 = C$-0.13 Mil.
Cash Flow from Operations was -1.929 + -0.896 + -1.432 + -0.724 = C$-4.98 Mil.
 Total Receivables was C$0.18 Mil.
Revenue was 0 + 0 + 0.137 + 0.176 = C$0.31 Mil.
Gross Profit was 0 + 0 + 0.137 + 0.176 = C$0.31 Mil.
Total Current Assets was C$1.16 Mil.
Total Assets was C$1.51 Mil.
Property, Plant and Equipment(Net PPE) was C$0.09 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.04 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.66 Mil.
Total Current Liabilities was C$0.98 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.03 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)
=(0.021 / 0.167) / (0.184 / 0.313)
=0.125749 / 0.587859
=0.2139

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)
=(0.313 / 0.313) / (0.167 / 0.167)
=1 / 1
=1

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 - (0.596 + 0.011) / 0.87) / (1 - (1.157 + 0.089) / 1.512)
=0.302299 / 0.175926
=1.7183

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
=0.167 / 0.313
=0.5335

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))
=(0.038 / (0.038 + 0.089)) / (0.002 / (0.002 + 0.011))
=0.299213 / 0.153846
=1.9449

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)
=(3.222 / 0.167) / (1.663 / 0.313)
=19.293413 / 5.313099
=3.6313

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 + 1.317) / 0.87) / ((0.032 + 0.975) / 1.512)
=1.513793 / 0.666005
=2.2729

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
=(-5.454 - -0.125 - -4.981) / 0.87
=-0.4

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.

Principal Technologies has a M-score of -5.96 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 -5.96 mean?
Principal Technologies (TSXV:PTEC) has a Beneish M-Score of -5.96 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Principal Technologies and its competitors. According to the industry distribution chart, Principal Technologies ranks #19 out of 633 companies in the Healthcare Providers & Services industry, placing it in the top 3%.
Is Principal Technologies' Beneish M-Score too high?
Principal Technologies' current Beneish M-Score is -5.96. Based on the distribution chart, Principal Technologies ranks #19 out of 633 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, Principal Technologies has a GF Score™ of 22/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Principal Technologies' Beneish M-Score compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Principal Technologies ranks #19 out of 633 companies for Beneish M-Score. This places Principal Technologies 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 a Healthcare Providers & Services company?
A good Beneish M-Score depends on the Healthcare Providers & 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 Principal Technologies and its competitors. Principal Technologies's current Beneish M-Score is -5.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Principal Technologies stock overvalued right now?
Based on GuruFocus' analysis, Principal Technologies (TSXV:PTEC) is currently considered Significantly Overvalued. The stock's GF Value™ is C$0.03, compared to a current price of C$0.38 — trading 1166.7% above its estimated fair value. The current Beneish M-Score is -5.96. Principal Technologies' overall GF Score™ is 22/100 with 7 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 Principal Technologies (TSXV:PTEC), the current Beneish M-Score is -5.96 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 Principal Technologies (TSXV:PTEC) Overvalued in 2026?

Based on GuruFocus' analysis, Principal Technologies stock appears to be overvalued. The current stock price of C$0.38 is trading 1166.7% above its estimated GF Value™ of C$0.03. GuruFocus considers Principal Technologies to be Significantly Overvalued.

Key valuation signals for TSXV:PTEC:

  • Beneish M-Score: -5.96
  • GF Value™: C$0.03 vs. price of C$0.38 (1166.7% above fair value)
  • GF Score™: 22/100 with 7 warning signs

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

Principal Technologies Business Description

Other Exchanges JO7:Germany
Address 700 West Georgia Street, Suite 2500, Vancouver, BC, CAN, V7Y 1B3
Principal Technologies Inc is in the research and development stage of building a portfolio of medical technology assets with a focus on distribution potential and intellectual property capable of enhancing medical treatment, cost efficiency, and optimization of the patient pathway. The company focuses on acquiring medical technology research and development assets or developing them jointly with industry leaders. Its current revenue-generating activities are attributable to E&E CRO Consulting GmbH, which provides clinical research advisory services. The company operates in one reportable operational segment, consisting of project management of clinical studies and research related to medical device technologies.
22GF Score

Get the complete analysis for TSXV:PTEC

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

C$0.38
Price
C$0.03
GF Value