WATR (Air Water Ventures) Beneish M-Score: 0.00 (As of Aug. 19, 2026)

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WATR Air Water Ventures Ltd WATR
8 GF Score
Price $2.60
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What is Air Water Ventures Beneish M-Score?

Air Water Ventures WATR -8.77% 8 Beneish M-Score is 0.00 as of Aug. 19, 2026. GuruFocus rates WATR with a GF Score™ of 8/100.

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 Air Water Ventures's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Air Water Ventures was 0.00. The lowest was 0.00. And the median was 0.00.

Air Water Ventures Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Air Water Ventures'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.

Air Water Ventures Beneish M-Score Chart

Air Water Ventures Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Air Water Ventures Semi-Annual Data
Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score 0.00 0.00 0.00 0.00 0.00

WATR vs : Beneish M-Score Comparison

For the Industrial Distribution subindustry, Air Water Ventures'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.

Air Water Ventures Beneish M-Score vs Industrial Distribution Industry

For the Industrial Distribution industry and Industrials sector, Air Water Ventures's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Air Water Ventures's Beneish M-Score falls into.


WATR
8GF Score
Air Water Ventures Ltd WATR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Air Water Ventures 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 Air Water Ventures 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 * 0.5066+0.528 * 0.4876+0.404 * 0.6096+0.892 * 2.6339+0.115 * 0.2395
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7633+4.679 * -0.280814-0.327 * 0.4006
=-3.07

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $0.40 Mil.
Revenue was $1.37 Mil.
Gross Profit was $-3.34 Mil.
Total Current Assets was $24.09 Mil.
Total Assets was $31.54 Mil.
Property, Plant and Equipment(Net PPE) was $6.88 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.46 Mil.
Selling, General, & Admin. Expense(SGA) was $17.98 Mil.
Total Current Liabilities was $16.22 Mil.
Long-Term Debt & Capital Lease Obligation was $2.68 Mil.
Net Income was $-27.54 Mil.
Gross Profit was $-0.58 Mil.
Cash Flow from Operations was $-18.11 Mil.
 Total Receivables was $0.30 Mil.
Revenue was $0.52 Mil.
Gross Profit was $-0.62 Mil.
Total Current Assets was $5.51 Mil.
Total Assets was $14.32 Mil.
Property, Plant and Equipment(Net PPE) was $8.38 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.57 Mil.
Selling, General, & Admin. Expense(SGA) was $8.94 Mil.
Total Current Liabilities was $17.01 Mil.
Long-Term Debt & Capital Lease Obligation was $4.41 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)
=(0.403 / 1.367) / (0.302 / 0.519)
=0.294806 / 0.581888
=0.5066

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)
=(-0.618 / 0.519) / (-3.338 / 1.367)
=-1.190751 / -2.441843
=0.4876

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 - (24.089 + 6.879) / 31.544) / (1 - (5.509 + 8.383) / 14.321)
=0.01826 / 0.029956
=0.6096

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
=1.367 / 0.519
=2.6339

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))
=(0.565 / (0.565 + 8.383)) / (2.463 / (2.463 + 6.879))
=0.063143 / 0.263648
=0.2395

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)
=(17.978 / 1.367) / (8.942 / 0.519)
=13.151426 / 17.229287
=0.7633

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)
=((2.681 + 16.222) / 31.544) / ((4.413 + 17.01) / 14.321)
=0.599258 / 1.495915
=0.4006

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
=(-27.543 - -0.58 - -18.105) / 31.544
=-0.280814

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.

Air Water Ventures has a M-score of -3.07 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 0.00 mean?
Air Water Ventures (WATR) has a Beneish M-Score of 0.00 as of Aug. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Air Water Ventures and its competitors.
Is Air Water Ventures' Beneish M-Score too high?
Air Water Ventures' current Beneish M-Score is 0.00. Overall, Air Water Ventures has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does Air Water Ventures' Beneish M-Score compare to ?
Air Water Ventures' Beneish M-Score of 0.00 can be compared against companies in the Industrial Distribution 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 Distribution company?
A good Beneish M-Score depends on the Industrial Distribution 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 Air Water Ventures and its competitors. Air Water Ventures'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 Air Water Ventures stock overvalued right now?
Air Water Ventures (WATR) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Air Water Ventures' overall GF Score™ is 8/100. 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 Air Water Ventures (WATR), the current Beneish M-Score is 0.00 as of Aug. 19, 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.

Air Water Ventures Business Description

Comparable Companies
Address c/o Air Water Ventures Ltd, PO Box 109214, Unit 3, Kizad KLP FZ, Kizad, Abu Dhabi, ARE
Air Water Ventures Ltd is a sustainable water solutions provider that produces drinking water by extracting humidity from the air. Its business includes premium packaged water sold in cans and bottles, manufacturing atmospheric water generators (AWGs) ranging from consumer to industrial scale, and operating water production and bottling facilities. The company has two reportable segments: bottling revenue and other revenue. Bottling revenue includes sales of packaged water, installation of bottling units at customer or own facilities, and supply of water via air-to-water generators to hospitality customers. Other revenue, the key revenue segment, includes sales of air-to-water generator machines, related maintenance and after-sales services, and leasing of air-to-water generator units.
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