Bassett Furniture Industries, Incorporated
BSET Consumer Cyclical Furnishings Fixtures & Appliances
Bassett Furniture Industries, Incorporated’s revenue for fiscal 2025 (year ended November 2025) was $335.3 million, up 1.62% from fiscal 2024. In the quarter to August 2026, revenue grew 3.41%, EPS grew 166.7% and free cash flow grew 169.5%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
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Bassett Furniture Industries, Incorporated (BSET) Beneish M-score
Bassett Furniture Industries, Incorporated's Beneish M-score for fiscal 2025 is −2.67; 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) |
|---|---|---|
| FY2025 | −2.67 | (0.13) |
| FY2024 | −2.54 | 0.38 |
| FY2023 | −2.92 | (0.57) |
| FY2022 | −2.35 | 0.11 |
| FY2021 | −2.46 | (0.83) |
| FY2020 | −1.63 | 0.88 |
| FY2019 | −2.50 | 0.26 |
| FY2018 | −2.76 | 0.00 |
| FY2017 | −2.76 | 0.31 |
| FY2016 | −3.07 | (0.57) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.98 | — | 0.90 | |
| Gross margin index | 0.97 | — | 0.51 | |
| Asset quality index | 0.90 | — | 0.36 | |
| Sales growth index | 1.02 | — | 0.91 | |
| Depreciation index | 1.06 | — | 0.12 | |
| SG&A index | 0.95 | — | −0.16 | |
| Total accruals to total assets | (0.02) | — | −0.11 | |
| Leverage index | 1.10 | — | −0.36 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.67 | ||
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 |
|---|---|
| ATER Aterian, Inc. compare | −4.2× |
| COOK Traeger, Inc. compare | −3.5× |
| HOFT Hooker Furnishings Corp. compare | −3.2× |
| LOVE The Lovesac Company compare | −3.1× |
| FLXS Flexsteel Industries, Inc. compare | −2.9× |
| LCUT Lifetime Brands, Inc. compare | −2.8× |
| KEQU Kewaunee Scientific Corporation compare | −2.7× |
| BSET Bassett Furniture Industries, Incorporated | −2.7× |
| VIRC Virco Manufacturing Corporation compare | −2.4× |
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