Innovative Energy Group (XJAM:ENERGY) Beneish M-Score: 0.00 (As of Jul. 21, 2026)

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XJAM:ENERGY Innovative Energy Group Ltd XJAM:ENERGY
31 GF Score
Price JMD1.05
! 6 Warning Signs
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What is Innovative Energy Group Beneish M-Score?

Innovative Energy Group XJAM:ENERGY 31 Beneish M-Score is 0.00 as of Jul. 21, 2026. GuruFocus rates XJAM:ENERGY with a GF Score™ of 31/100. The stock has 6 warning signs investors should review. Among 2,909 Industrial Products companies, Innovative Energy Group ranks worse than 34376.04% 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 Innovative Energy Group's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Innovative Energy Group was 0.00. The lowest was 0.00. And the median was 0.00.

Innovative Energy Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Innovative Energy Group'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.

Innovative Energy Group Beneish M-Score Chart

Innovative Energy Group Annual Data
Trend May09 May10 May23 May24 May25
Beneish M-Score
0.00 0.00 0.00 0.00 0.00

Innovative Energy Group Quarterly Data
May09 May10 Aug22 May23 Aug23 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26
Beneish M-Score Get a 7-Day Free Trial 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

XJAM:ENERGY vs GEV, ETN, PH: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Innovative Energy Group'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.

Innovative Energy Group Beneish M-Score vs Industrial Products Industry

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

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


XJAM:ENERGY
31GF Score
Innovative Energy Group Ltd XJAM:ENERGY
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Innovative Energy Group 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 Innovative Energy Group 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 (May25) TTM:Last Year (May24) TTM:
Total Receivables was JMD130.4 Mil.
Revenue was JMD321.2 Mil.
Gross Profit was JMD208.5 Mil.
Total Current Assets was JMD449.7 Mil.
Total Assets was JMD3,263.8 Mil.
Property, Plant and Equipment(Net PPE) was JMD144.5 Mil.
Depreciation, Depletion and Amortization(DDA) was JMD13.4 Mil.
Selling, General, & Admin. Expense(SGA) was JMD31.6 Mil.
Total Current Liabilities was JMD277.7 Mil.
Long-Term Debt & Capital Lease Obligation was JMD1,964.1 Mil.
Net Income was JMD82.2 Mil.
Gross Profit was JMD0.0 Mil.
Cash Flow from Operations was JMD20.8 Mil.
 Total Receivables was JMD0.0 Mil.
Revenue was JMD0.0 Mil.
Gross Profit was JMD0.0 Mil.
Total Current Assets was JMD0.2 Mil.
Total Assets was JMD0.5 Mil.
Property, Plant and Equipment(Net PPE) was JMD0.3 Mil.
Depreciation, Depletion and Amortization(DDA) was JMD0.0 Mil.
Selling, General, & Admin. Expense(SGA) was JMD9.0 Mil.
Total Current Liabilities was JMD12.3 Mil.
Long-Term Debt & Capital Lease Obligation was JMD9.8 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)
=(130.364 / 321.208) / (0.002 / 0)
=0.405855 /
=

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) / (208.469 / 321.208)
= / 0.649016
=

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 - (449.682 + 144.458) / 3263.784) / (1 - (0.244 + 0.258) / 0.501)
=0.81796 / -0.001996
=

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
=321.208 / 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))
=(0.014 / (0.014 + 0.258)) / (13.408 / (13.408 + 144.458))
=0.051471 / 0.084933
=

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)
=(31.621 / 321.208) / (9.001 / 0)
=0.098444 /
=

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)
=((1964.12 + 277.7) / 3263.784) / ((9.789 + 12.311) / 0.501)
=0.686878 / 44.111776
=

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
=(82.191 - 0 - 20.823) / 3263.784
=0.018803

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?
Innovative Energy Group (XJAM:ENERGY) has a Beneish M-Score of 0.00 as of Jul. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Innovative Energy Group and its competitors. According to the industry distribution chart, Innovative Energy Group ranks #999999 out of 2909 companies in the Industrial Products industry.
Is Innovative Energy Group's Beneish M-Score too high?
Innovative Energy Group's current Beneish M-Score is 0.00. Based on the distribution chart, Innovative Energy Group ranks #999999 out of 2909 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Innovative Energy Group has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.
How does Innovative Energy Group's Beneish M-Score compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Innovative Energy Group ranks #999999 out of 2909 companies for Beneish M-Score. This places Innovative Energy Group 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 Innovative Energy Group and its competitors. Innovative Energy Group'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 Innovative Energy Group stock overvalued right now?
Innovative Energy Group (XJAM:ENERGY) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Innovative Energy Group's overall GF Score™ is 31/100 with 6 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 Innovative Energy Group (XJAM:ENERGY), the current Beneish M-Score is 0.00 as of Jul. 21, 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.

Innovative Energy Group Business Description

Address R1 Commercial Park, Unit no. 14, 11-13 Marverly Avenue, Kingston, JAM, 10
Innovative Energy Group Ltd is a Jamaican based vertically integrated energy company. It provides clean energy solutions through the development of hybrid renewable or stand-alone cogeneration and trigeneration microturbine projects. IEC provides energy audits, project development, construction, operations and asset management services.
31GF Score

Get the complete analysis for XJAM:ENERGY

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

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