CIMG Inc.
CIMG Consumer Defensive Packaged Foods
CIMG Inc.’s revenue for fiscal 2025 (year ended September 2025) was $10.3 million, up 433.5% from fiscal 2024. In the quarter to June 2026, revenue grew 3,424.8%, EPS grew 93.3%, free cash flow grew 76.4% and total debt rose 4.45%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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CIMG Inc. (CIMG) Beneish M-score
CIMG Inc.'s Beneish M-score for fiscal 2025 cannot be worked out: days’ sales in receivables index cannot be worked out.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2019 | −6.98 | (3.84) |
| FY2018 | −3.15 | (125.21) |
| FY2017 | 122.06 | 122.06 |
| FY2016 | −0.01 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | — | — | n/a | — |
| Gross margin index | 1.37 | — | 0.72 | |
| Asset quality index | 23.90 | — | 9.66 | |
| Sales growth index | 5.33 | — | 4.76 | |
| Depreciation index | 0.99 | — | 0.11 | |
| SG&A index SG&A not reported — index set to 1 | 1.00 | — | Set to 1 | −0.17 |
| Total accruals to total assets | 0.17 | — | 0.80 | |
| Leverage index | 0.33 | — | −0.11 | |
| Beneish M-score | n/a — days’ sales in receivables 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 |
|---|---|
| FAMI Farmmi, Inc. compare | −5.5× |
| SNAX Stryve Foods, Inc. compare | −4.9× |
| NAII Natural Alternatives International, Inc. compare | −2.8× |
| DDC DDC Enterprise Limited compare | −1.9× |
| UCFI CN Healthy Food Tech Group Corp compare | 0.0× |
| PAVS Paranovus Entertainment Technology Ltd. compare | — |
| CIMG CIMG Inc. | — |
| NCRA Nocera, Inc. compare | — |
| ABVEF Above Food Ingredients 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