Avnet, Inc.
AVT Technology Electronics & Computer Distribution
Avnet, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $27.6 billion, up 24.5% from fiscal 2025. In the quarter to June 2026, revenue grew 47.7%, EPS grew 2,100.0%, free cash flow fell 485.0% and total debt fell 3.72%, each against the same quarter a year earlier. Dividend growth for ten consecutive years; insiders bought in the last twelve months.
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Avnet, Inc. (AVT) Beneish M-score
Avnet, Inc.'s Beneish M-score for fiscal 2026 is −1.94; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −1.94 | 0.60 |
| FY2025 | −2.54 | 0.03 |
| FY2024 | −2.57 | (0.75) |
| FY2023 | −1.82 | 0.22 |
| FY2022 | −2.04 | 0.20 |
| FY2021 | −2.24 | 0.61 |
| FY2020 | −2.85 | (0.07) |
| FY2019 | −2.78 | (0.08) |
| FY2018 | −2.71 | (0.70) |
| FY2017 | −2.01 | 0.84 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.28 | — | 1.18 | |
| Gross margin index | 1.03 | — | 0.54 | |
| Asset quality index | 0.79 | — | 0.32 | |
| Sales growth index | 1.24 | — | 1.11 | |
| Depreciation index | 0.91 | — | 0.11 | |
| SG&A index | 0.92 | — | −0.16 | |
| Total accruals to total assets | 0.04 | — | 0.19 | |
| Leverage index | 1.17 | — | −0.38 | |
| Beneish M-score | Elevated | −1.94 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| TAIT Taitron Components Incorporated compare | −2.8× |
| IZM ICZOOM Group Inc. compare | −2.6× |
| SNX TD SYNNEX Corporation compare | −2.5× |
| CNXN PC Connection, Inc. compare | −2.4× |
| SCSC ScanSource, Inc. compare | −2.4× |
| NSIT Insight Enterprises, Inc. compare | −2.4× |
| CLMB Climb Global Solutions, Inc. compare | −2.3× |
| ARW Arrow Electronics, Inc. compare | −2.0× |
| AVT Avnet, Inc. | −1.9× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI