Hopium (XPAR:ALHPI) Beneish M-Score: 26.74 (As of Jul. 19, 2026) — Near Median

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What is Hopium Beneish M-Score?

Hopium XPAR:ALHPI -2.17% Beneish M-Score is 26.74 as of Jul. 19, 2026, which is at its 10-year median of 26.74. The stock has 3 warning signs investors should review. Among 1,274 Vehicles & Parts companies, Hopium ranks worse than 99.76% 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.

Warning Sign:

Beneish M-Score 26.74 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XPAR:ALHPI' s Beneish M-Score Range Over the Past 10 Years
Min: 26.74   Med: 26.74   Max: 26.74
Current: 26.74

During the past 6 years, the highest Beneish M-Score of Hopium was 26.74. The lowest was 26.74. And the median was 26.74.

Hopium Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Hopium'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.

Hopium Beneish M-Score Chart

Hopium Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 26.74

Hopium Semi-Annual Data
Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 26.74

XPAR:ALHPI vs TSLA, GM, F: Beneish M-Score Comparison

For the Auto Manufacturers subindustry, Hopium'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.

Hopium Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Hopium's Beneish M-Score distribution charts can be found below:

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


Hopium 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 Hopium 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 * 0.3378+0.528 * 12.0655+0.404 * 0.3278+0.892 * 10.5294+0.115 * 1.428
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 3.309295-0.327 * 0.304
=26.74

* 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 €1.33 Mil.
Revenue was €0.18 Mil.
Gross Profit was €-3.44 Mil.
Total Current Assets was €2.90 Mil.
Total Assets was €3.65 Mil.
Property, Plant and Equipment(Net PPE) was €0.56 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.20 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €3.61 Mil.
Long-Term Debt & Capital Lease Obligation was €6.84 Mil.
Net Income was €12.07 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €0.00 Mil.
 Total Receivables was €0.38 Mil.
Revenue was €0.02 Mil.
Gross Profit was €-3.94 Mil.
Total Current Assets was €2.56 Mil.
Total Assets was €3.78 Mil.
Property, Plant and Equipment(Net PPE) was €0.63 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.38 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €24.68 Mil.
Long-Term Debt & Capital Lease Obligation was €10.99 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)
=(1.334 / 0.179) / (0.375 / 0.017)
=7.452514 / 22.058824
=0.3378

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)
=(-3.943 / 0.017) / (-3.441 / 0.179)
=-231.941176 / -19.223464
=12.0655

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 - (2.903 + 0.555) / 3.647) / (1 - (2.558 + 0.627) / 3.783)
=0.051823 / 0.158076
=0.3278

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
=0.179 / 0.017
=10.5294

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))
=(0.377 / (0.377 + 0.627)) / (0.198 / (0.198 + 0.555))
=0.375498 / 0.262948
=1.428

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 / 0.179) / (0 / 0.017)
=0 / 0
=1

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)
=((6.842 + 3.611) / 3.647) / ((10.988 + 24.679) / 3.783)
=2.866191 / 9.428232
=0.304

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
=(12.069 - 0 - 0) / 3.647
=3.309295

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.

Hopium has a M-score of 26.74 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 26.74 mean?
Hopium (XPAR:ALHPI) has a Beneish M-Score of 26.74 as of Jul. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hopium and its competitors. This is near median its historical median of 26.74. Over the past decade, Hopium's Beneish M-Score has ranged from 26.74 to 26.74. According to the industry distribution chart, Hopium ranks #1271 out of 1274 companies in the Vehicles & Parts industry, placing it in the top 99.8%.
Is Hopium's Beneish M-Score too high?
Hopium's current Beneish M-Score of 26.74 is near median its 10-year median of 26.74. Over the past 10 years, this metric has ranged from a low of 26.74 to a high of 26.74. Based on the distribution chart, Hopium ranks #1271 out of 1274 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers.
How does Hopium's Beneish M-Score compare to TSLA and GM?
According to the Vehicles & Parts industry distribution chart, Hopium ranks #1271 out of 1274 companies for Beneish M-Score. This places Hopium in the lower half of its industry. Historically, Hopium's own Beneish M-Score has ranged from 26.74 to 26.74 over the past decade. 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Hopium and its competitors. Hopium's current Beneish M-Score is 26.74, which is near median its own 10-year median of 26.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hopium stock overvalued right now?
Hopium (XPAR:ALHPI) has a current Beneish M-Score of 26.74. The current Beneish M-Score is 26.74, which is near median its 10-year median of 26.74. 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 Hopium (XPAR:ALHPI), the current Beneish M-Score is 26.74 as of Jul. 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.

Hopium Business Description

Other Exchanges 05B0:Germany
Address 54/56 Avenue Hoche, Paris, FRA, 75008
Hopium SA is specialized in the construction of high-end hydrogen powered vehicles.