Edible Garden AG Incorporated
EDBL Consumer Defensive Farm Products
Edible Garden AG Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $12.8 million, down 7.56% from fiscal 2024. In the quarter to June 2026, revenue grew 12.8%, EPS grew 99.4%, free cash flow grew 25.0% and total debt rose 709.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Edible Garden AG Incorporated (EDBL) Beneish M-score
Edible Garden AG Incorporated'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 | −0.90 | 2.95 |
| FY2023 | −3.85 | 0.06 |
| FY2022 | −3.90 | (1.05) |
| FY2021 | −2.85 | 1.84 |
| FY2020 | −4.69 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.05 | — | 0.96 | |
| Gross margin index | — | — | n/a | — |
| Asset quality index | 1.95 | — | 0.79 | |
| Sales growth index | 0.92 | — | 0.82 | |
| Depreciation index | 1.45 | — | 0.17 | |
| SG&A index | 1.46 | — | −0.25 | |
| Total accruals to total assets | (0.27) | — | −1.26 | |
| Leverage index | 0.62 | — | −0.20 | |
| 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 |
|---|---|
| SDOT Sadot Group Inc. compare | −138× |
| AAGR African Agriculture Holdings Inc. compare | −11.0× |
| DTCKF Davis Commodities Limited compare | −3.4× |
| LOCL Local Bounti Corporation compare | −3.3× |
| AGRZ Agroz Inc. compare | −0.8× |
| SISI SHINECO compare | 13.7× |
| AQB AquaBounty Technologies, Inc. compare | — |
| PME Pingtan Marine Enterprise Ltd. compare | — |
| EDBL Edible Garden AG Incorporated | — |
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