Cenntro Inc.
CENN Consumer Cyclical Auto Manufacturers
In the quarter to June 2026, revenue fell 2.89%, EPS grew 63.1%, free cash flow grew 38.6% and total debt rose 83.7%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Cenntro Inc. (CENN) Beneish M-score
Cenntro Inc.'s Beneish M-score for fiscal 2025 cannot be worked out: gross margin index cannot be worked out.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2024 | −1.88 | (1.01) |
| FY2023 | −0.87 | (0.55) |
| FY2021 | −0.32 | (20.64) |
| FY2020 | 20.32 | 24.98 |
| FY2020 | −4.66 | (20.68) |
| FY2019 | 16.02 | 29.94 |
| FY2016 | −13.92 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.69 | — | 0.64 | |
| Gross margin index | — | — | n/a | — |
| Asset quality index | 0.47 | — | 0.19 | |
| Sales growth index | 0.58 | — | 0.52 | |
| Depreciation index | 0.85 | — | 0.10 | |
| SG&A index | 1.17 | — | −0.20 | |
| Total accruals to total assets | (0.76) | — | −3.54 | |
| Leverage index | 1.68 | — | −0.55 | |
| Beneish M-score | n/a — gross margin index cannot be worked out | — | ||
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 |
|---|---|
| GGR Gogoro Inc. compare | −3.6× |
| NIU Niu Technologies compare | −3.5× |
| AZIO Azio AI Holdings, Inc. compare | — |
| FSRNQ Fisker Inc. compare | — |
| EMPD Empery Digital Inc. compare | — |
| WKHS Workhorse Group, Inc. compare | — |
| CENN Cenntro Inc. | — |
| SEV Aptera Motors Corp. compare | — |
| AIIO Robo.ai Inc. - Class B 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