Flux Power Holdings, Inc.
FLUX Industrials Electrical Equipment & Parts
Flux Power Holdings, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $42.1 million, down 36.6% from fiscal 2025. In the quarter to June 2026, revenue fell 50.7%, EPS fell 57.1%, free cash flow grew 79.6% and total debt fell 56.9%, each against the same quarter a year earlier.
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Flux Power Holdings, Inc. (FLUX) Beneish M-score
Flux Power Holdings, Inc.'s Beneish M-score for fiscal 2026 is −2.93; 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) |
|---|---|---|
| FY2026 | −2.93 | 0.60 |
| FY2025 | −3.52 | (0.35) |
| FY2024 | −3.17 | 0.04 |
| FY2023 | −3.21 | (2.65) |
| FY2022 | −0.56 | 0.42 |
| FY2021 | −0.98 | (1.04) |
| FY2020 | 0.06 | 2.98 |
| FY2019 | −2.92 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.67 | — | 0.62 | |
| Gross margin index | 1.08 | — | 0.57 | |
| Asset quality index | 1.94 | — | 0.78 | |
| Sales growth index | 0.63 | — | 0.57 | |
| Depreciation index | 0.90 | — | 0.10 | |
| SG&A index | 1.16 | — | −0.20 | |
| Total accruals to total assets | (0.06) | — | −0.30 | |
| Leverage index | 0.73 | — | −0.24 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.93 | ||
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 |
|---|---|
| DFLI Dragonfly Energy Holdings Corp. compare | −4.3× |
| FLUX Flux Power Holdings, Inc. | −2.9× |
| CCTG CCSC Technology International Holdings Limited compare | −2.4× |
| XPON Expion Energy, Inc. compare | −1.5× |
| PITEF Heramba Electric PLC compare | — |
| GWHT ESS Tech, Inc. compare | — |
| POLA Polar Power, Inc. compare | — |
| NXUR Nxu, Inc. compare | — |
| EPOW E-Power 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