HiPower Energy (WAR:HPE) Beneish M-Score: 0.00 (As of Jun. 26, 2026)

What is HiPower Energy Beneish M-Score?

HiPower Energy WAR:HPE +1.94% 29 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates WAR:HPE with a GF Score™ of 29/100. The stock has 1 warning sign investors should review. Among 2,926 Industrial Products companies, HiPower Energy ranks worse than 34176.32% 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 HiPower Energy's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of HiPower Energy was -1.19. The lowest was -4.53. And the median was -2.32.

HiPower Energy Beneish M-Score Related Terms

HiPower Energy Beneish M-Score Historical Data

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The historical data trend for HiPower Energy'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.

HiPower Energy Beneish M-Score Chart

HiPower Energy Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-3.28

0.00

HiPower Energy 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															0.00	0.00	0.00	0.00	0.00

WAR:HPE vs VLTO, ZWS, CECO: Beneish M-Score Comparison

For the Pollution & Treatment Controls subindustry, HiPower Energy'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.

HiPower Energy Beneish M-Score vs Industrial Products Industry

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

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

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HiPower Energy SA WAR:HPE

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

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HiPower Energy 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 HiPower Energy 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 (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was zł0.03 Mil.
Revenue was zł0.00 Mil.
Gross Profit was zł-0.00 Mil.
Total Current Assets was zł0.04 Mil.
Total Assets was zł26.38 Mil.
Property, Plant and Equipment(Net PPE) was zł0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was zł0.00 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł0.57 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 Mil.
Net Income was zł-0.34 Mil.
Gross Profit was zł0.00 Mil.
Cash Flow from Operations was zł-0.23 Mil.

Total Receivables was zł0.02 Mil.
Revenue was zł0.00 Mil.
Gross Profit was zł-0.02 Mil.
Total Current Assets was zł0.23 Mil.
Total Assets was zł26.60 Mil.
Property, Plant and Equipment(Net PPE) was zł0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was zł0.00 Mil.
Selling, General, & Admin. Expense(SGA) was zł0.00 Mil.
Total Current Liabilities was zł0.48 Mil.
Long-Term Debt & Capital Lease Obligation was zł0.00 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)
	=	(0.027 / 0)	/	(0.017 / 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)
	=	(-0.016 / 0)	/	(-0.004 / 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 - (0.042 + 0) / 26.381)	/	(1 - (0.227 + 0) / 26.596)
	=	0.998408	/	0.991465
	=

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)
	=	(0 / 0)	/	(0 / 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 + 0.569) / 26.381)	/	((0 + 0.481) / 26.596)
	=	0.021569	/	0.018085
	=

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
	=	(-0.343 - 0	-	-0.225)	/	26.381
	=	-0.004473

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?

HiPower Energy (WAR:HPE) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on HiPower Energy and its competitors. According to the industry distribution chart, HiPower Energy ranks #999999 out of 2926 companies in the Industrial Products industry.

Is HiPower Energy's Beneish M-Score too high?

HiPower Energy's current Beneish M-Score is 0.00. Based on the distribution chart, HiPower Energy ranks #999999 out of 2926 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, HiPower Energy has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.

How does HiPower Energy's Beneish M-Score compare to VLTO and ZWS?

According to the Industrial Products industry distribution chart, HiPower Energy ranks #999999 out of 2926 companies for Beneish M-Score. This places HiPower Energy 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 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 HiPower Energy and its competitors. HiPower Energy'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 HiPower Energy stock overvalued right now?

HiPower Energy (WAR:HPE) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. HiPower Energy's overall GF Score™ is 29/100 with 1 warning sign 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 HiPower Energy (WAR:HPE), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

HiPower Energy Business Description

Industry Industrials Industrial Products

Comparable Companies WAR:AQA VLTO SZSE:300390 ZWS TSE:6370 TSE:6368 OSTO:MTRS SHSE:600388 CECO HKSE:00586 TPE:6944 PCT ASX:SRL TSE:6013 SZSE:300137 TSE:7004 SHSE:688376 SHSE:603279 SHSE:603200 SHSE:688679

Address Irysowa 1, Bielany Wroclawskie, POL, 55-040

Website https://www.hipowergroup.com

HiPower Energy SA creates and develops, commercializes and delivers hydrogen solutions. It is a clean energy company which includes products such as hydrogen recycling technology - HRP (Hydrogen Recycle & Purification), methanol-powered fuel cells for the production of electricity and heat - mGen, and mobile charging stations for electric vehicles - myGO.

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

zł0.32

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