stockrowSplash Beverage Group, Inc.
EDVA Healthcare Biotechnology
Splash Beverage Group, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $73,100.00, down 98.2% from fiscal 2024.
- Revenue
- −99.6%
- EPS
- +95.6%
- Free cash flow
- −95.7%
- Total debt
- −100.0%
Quarter to June 2026, against a year earlier
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Splash Beverage Group, Inc. (EDVA) Beneish M-score
Splash Beverage Group, Inc.'s Beneish M-score for fiscal 2025 is −101.16; 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 | −101.16 | (92.62) |
| FY2023 | −8.54 | (4.62) |
| FY2022 | −3.92 | (0.22) |
| FY2021 | −3.69 | (64.88) |
| FY2020 | 61.18 | 62.74 |
| FY2018 | −1.56 | 3.91 |
| FY2017 | −5.47 | (2.15) |
| FY2016 | −3.32 | (1.87) |
| FY2015 | −1.45 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 14.52 | — | 13.36 | |
| Gross margin index | (0.12) | — | −0.07 | |
| Asset quality index | 1.10 | — | 0.44 | |
| Sales growth index | 0.02 | — | 0.02 | |
| Depreciation index | 1.00 | — | 0.11 | |
| SG&A index | 86.32 | — | −14.85 | |
| Total accruals to total assets | (20.22) | — | −94.62 | |
| Leverage index | 2.18 | — | −0.71 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −101.16 | ||
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 |
|---|---|
| EDVA Splash Beverage Group, Inc. | −101× |
| BRTX Biorestorative Therapies, Inc. compare | −7.6× |
| PPBT Purple Biotech Ltd. Sponsored ADR compare | −1.8× |
| SILO Silo Pharma, Inc. compare | — |
| GNPX GENPREX compare | — |
| PPCB Propanc Biopharma Inc compare | — |
| REVB Revelation Biosciences, Inc. compare | — |
| ENLV Enlivex Ltd. compare | — |
| SLXN Silexion Therapeutics Corp 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