BrightView Holdings, Inc.
BV Industrials Specialty Business Services
BrightView Holdings, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $2.7 billion, down 3.41% from fiscal 2024. In the quarter to June 2026, revenue grew 1.31%, EPS fell 118.8%, free cash flow grew 69.2% and total debt rose 11.6%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
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BrightView Holdings, Inc. (BV) Beneish M-score
BrightView Holdings, Inc.'s Beneish M-score for fiscal 2025 is −2.86; 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 | −2.86 | (0.17) |
| FY2024 | −2.69 | (0.20) |
| FY2023 | −2.49 | 0.05 |
| FY2022 | −2.53 | (0.10) |
| FY2021 | −2.44 | 0.57 |
| FY2020 | −3.01 | (0.43) |
| FY2019 | −2.58 | 0.09 |
| FY2018 | −2.68 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.95 | — | 0.87 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.98 | — | 0.40 | |
| Sales growth index | 0.97 | — | 0.86 | |
| Depreciation index | 1.12 | — | 0.13 | |
| SG&A index | 0.95 | — | −0.16 | |
| Total accruals to total assets | (0.07) | — | −0.33 | |
| Leverage index | 0.97 | — | −0.32 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.86 | ||
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 |
|---|---|
| KODK Eastman Kodak Company compare | −4.3× |
| RHLD Resolute Holdings Management, Inc. compare | −3.5× |
| TRNS Transcat, Inc. compare | −2.9× |
| BV BrightView Holdings, Inc. | −2.9× |
| LZ LegalZoom.com, Inc. compare | −2.7× |
| BUUU BUUU Group Limited compare | −2.3× |
| BKSY BlackSky Technology Inc. compare | −1.9× |
| TH Target Hospitality Corp. compare | −1.7× |
| CASS Cass Information Systems, Inc compare | — |
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