Cheetah Net Supply Chain Service Inc.
CTNT Industrials Integrated Freight & Logistics
In the quarter to June 2026, revenue grew 145.4%, EPS grew 100.1%, free cash flow grew 466.5% and total debt fell 5.89%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Cheetah Net Supply Chain Service Inc. (CTNT) Beneish M-score
Cheetah Net Supply Chain Service Inc.'s Beneish M-score for fiscal 2025 is −1.93; 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 | −1.93 | (689.65) |
| FY2024 | 687.72 | 694.67 |
| FY2023 | −6.95 | (7.62) |
| FY2022 | 0.67 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.47 | — | 0.43 | |
| Gross margin index | 3.03 | — | 1.60 | |
| Asset quality index | 0.80 | — | 0.32 | |
| Sales growth index | 2.83 | — | 2.52 | |
| Depreciation index | 0.71 | — | 0.08 | |
| SG&A index | 0.36 | — | −0.06 | |
| Total accruals to total assets | (0.31) | — | −1.44 | |
| Leverage index | 1.67 | — | −0.54 | |
| Beneish M-score | Elevated | −1.93 | ||
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 |
|---|---|
| BTOC Armlogi Holding Corp. compare | −7.7× |
| ATXG Addentax Group Corp. compare | −3.2× |
| JYD Jayud Global Logistics Limited compare | −3.1× |
| SLGB Smart Logistics Global Limited compare | −2.9× |
| GVH Globavend Holdings Limited compare | −2.1× |
| CTNT Cheetah Net Supply Chain Service Inc. | −1.9× |
| HXHX Haoxin Holdings Limited compare | −1.4× |
| SGLY Singularity Future Technology Ltd. compare | 2.0× |
| CIIT TIANCI INTERNATIONAL, 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