Roscan Gold (TSXV:ROS) Beneish M-Score: 0.00 (As of Jun. 24, 2026)

What is Roscan Gold Beneish M-Score?

Roscan Gold TSXV:ROS -5.56% 31 Beneish M-Score is 0.00 as of Jun. 24, 2026. GuruFocus rates TSXV:ROS with a GF Score™ of 31/100. The stock has 3 warning signs investors should review. Among 685 Metals & Mining companies, Roscan Gold ranks worse than 145985.26% 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 Roscan Gold's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Roscan Gold was 0.00. The lowest was 0.00. And the median was 0.00.

Roscan Gold Beneish M-Score Related Terms

Roscan Gold Beneish M-Score Historical Data

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The historical data trend for Roscan Gold'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.

Roscan Gold Beneish M-Score Chart

Roscan Gold Annual Data

Trend

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Beneish M-Score

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0.00

Roscan Gold 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															0.00	0.00	0.00	0.00	0.00

TSXV:ROS vs NEM, AU: Beneish M-Score Comparison

For the Gold subindustry, Roscan Gold'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.

Roscan Gold Beneish M-Score vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Roscan Gold's Beneish M-Score distribution charts can be found below:

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

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Roscan Gold Corp TSXV:ROS

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Roscan Gold 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 Roscan Gold 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Jan26) TTM:

Last Year (Jan25) TTM:

Total Receivables was C$0.03 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$1.08 Mil.
Total Assets was C$1.08 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.16 Mil.
Total Current Liabilities was C$4.87 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.00 Mil.
Net Income was -0.883 + -0.665 + -0.673 + -0.67 = C$-2.89 Mil.
Non Operating Income was 0.005 + 0.028 + -0.016 + -0.029 = C$-0.01 Mil.
Cash Flow from Operations was -0.615 + -0.469 + -0.588 + -0.467 = C$-2.14 Mil.

Total Receivables was C$0.03 Mil.
Revenue was 0 + 0 + 0 + 0 = C$0.00 Mil.
Gross Profit was 0 + 0 + 0 + 0 = C$0.00 Mil.
Total Current Assets was C$0.71 Mil.
Total Assets was C$0.71 Mil.
Property, Plant and Equipment(Net PPE) was C$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was C$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.65 Mil.
Total Current Liabilities was C$2.82 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)
	=	(0.033 / 0)	/	(0.034 / 0)
	=		/
	=

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 / 0)	/	(0 / 0)
	=		/
	=

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 - (1.079 + 0) / 1.079)	/	(1 - (0.707 + 0) / 0.707)
	=	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	/	0
	=

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 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(1.155 / 0)	/	(1.648 / 0)
	=		/
	=

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 + 4.867) / 1.079)	/	((0 + 2.819) / 0.707)
	=	4.510658	/	3.98727
	=

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
	=	(-2.891 - -0.012	-	-2.139)	/	1.079
	=	-0.68582

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?

Roscan Gold (TSXV:ROS) has a Beneish M-Score of 0.00 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Roscan Gold and its competitors. According to the industry distribution chart, Roscan Gold ranks #999999 out of 685 companies in the Metals & Mining industry.

Is Roscan Gold's Beneish M-Score too high?

Roscan Gold's current Beneish M-Score is 0.00. Based on the distribution chart, Roscan Gold ranks #999999 out of 685 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Roscan Gold has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.

How does Roscan Gold's Beneish M-Score compare to NEM and AU?

According to the Metals & Mining industry distribution chart, Roscan Gold ranks #999999 out of 685 companies for Beneish M-Score. This places Roscan Gold 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 Metals & Mining company?

A good Beneish M-Score depends on the Metals & Mining 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 Roscan Gold and its competitors. Roscan Gold'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 Roscan Gold stock overvalued right now?

Roscan Gold (TSXV:ROS) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Roscan Gold's overall GF Score™ is 31/100 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 Roscan Gold (TSXV:ROS), the current Beneish M-Score is 0.00 as of Jun. 24, 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.

Roscan Gold Business Description

Industry Basic Materials Metals & Mining

Comparable Companies TSXV:TIGR TSXV:TSG TSXV:GLDC TSXV:GPAC TSXV:GWM TSXV:AUAU TSXV:REVX TSXV:RPX TSXV:ARIC TSXV:GSR SHSE:601899 NEM TSX:AEM TSX:ABX TSX:WPM AU TSX:FNV HKSE:02259 TSX:K JSE:GFI

Other Exchanges RCGCF:USA 2OJ:Germany

Address 217 Queen Street West, Suite 401, Toronto, ON, CAN, M5V 0R2

Website https://www.roscan.ca

Roscan Gold Corp is a Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. It has assembled a land position in an area of producing gold mines and gold deposits, located both north and south of its Kandiole Project in West Mali.

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