EverQuote, Inc.
EVER Communication Services Internet Content & Information
EverQuote, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $692.5 million, up 38.5% from fiscal 2024. In the quarter to June 2026, revenue grew 24.6%, EPS grew 37.5% and free cash flow fell 4.53%, each against the same quarter a year earlier. Dividend growth for five consecutive years, operating cash flow growth for three.
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EverQuote, Inc. (EVER) Beneish M-score
EverQuote, Inc.'s Beneish M-score for fiscal 2025 is −2.01; 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 | −2.01 | 0.46 |
| FY2024 | −2.47 | 2.55 |
| FY2023 | −5.02 | (2.36) |
| FY2022 | −2.66 | 0.33 |
| FY2021 | −2.99 | (10.25) |
| FY2020 | 7.25 | 9.90 |
| FY2019 | −2.65 | 0.48 |
| FY2018 | −3.13 | (0.06) |
| FY2017 | −3.07 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.84 | — | 0.78 | |
| Gross margin index | 0.99 | — | 0.52 | |
| Asset quality index | 1.24 | — | 0.50 | |
| Sales growth index | 1.38 | — | 1.23 | |
| Depreciation index | 1.47 | — | 0.17 | |
| SG&A index | 0.99 | — | −0.17 | |
| Total accruals to total assets | 0.01 | — | 0.06 | |
| Leverage index | 0.77 | — | −0.25 | |
| Beneish M-score | Elevated | −2.01 | ||
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 |
|---|---|
| BMBL Bumble Inc. compare | −6.4× |
| GRPN Groupon, Inc. compare | −3.8× |
| NRDS NerdWallet, Inc. compare | −3.3× |
| CARS Cars.com Inc. compare | −3.1× |
| NXDR Nextdoor Holdings, Inc. compare | −3.0× |
| TBLA Taboola.com Ltd. compare | −3.0× |
| MAX MediaAlpha, Inc. compare | −2.8× |
| WB Weibo Corporation compare | −2.4× |
| EVER EverQuote, Inc. | −2.0× |
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