EVI Industries, Inc.
EVI Industrials Industrial Distribution
EVI Industries, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $446.6 million, up 14.6% from fiscal 2025. In the quarter to June 2026, revenue grew 10.8%, EPS grew 28.6%, free cash flow grew 39.2% and total debt fell 3.77%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
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EVI Industries, Inc. (EVI) Beneish M-score
EVI Industries, Inc.'s Beneish M-score for fiscal 2026 is −2.72; 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) |
|---|---|---|
| FY2026 | −2.72 | (0.30) |
| FY2025 | −2.42 | 0.66 |
| FY2024 | −3.09 | (0.86) |
| FY2023 | −2.23 | (0.06) |
| FY2022 | −2.16 | 0.18 |
| FY2021 | −2.35 | 0.98 |
| FY2020 | −3.32 | (1.86) |
| FY2019 | −1.47 | 1.15 |
| FY2018 | −2.61 | (18.54) |
| FY2017 | 15.93 | 17.62 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.82 | — | 0.75 | |
| Gross margin index | 0.96 | — | 0.51 | |
| Asset quality index | 1.01 | — | 0.41 | |
| Sales growth index | 1.15 | — | 1.02 | |
| Depreciation index | 0.96 | — | 0.11 | |
| SG&A index | 1.04 | — | −0.18 | |
| Total accruals to total assets | (0.04) | — | −0.20 | |
| Leverage index | 0.93 | — | −0.31 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.72 | ||
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 |
|---|---|
| TITN Titan Machinery Inc. compare | −2.9× |
| EVI EVI Industries, Inc. | −2.7× |
| DSGR Distribution Solutions Group, Inc. compare | −2.6× |
| BXC BlueLinx Holdings Inc. compare | −2.5× |
| GIC Global Industrial Company compare | −2.4× |
| DXPE DXP Enterprises, Inc. compare | −2.4× |
| WXM WF International Limited compare | −2.3× |
| REZI Resideo Technologies, Inc. compare | −2.2× |
| DNOW DNOW Inc. compare | −1.6× |
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