Geopark Ltd
GPRK Energy Oil & Gas E&P
Geopark Ltd’s revenue for fiscal 2025 (year ended December 2025) was $492.5 million, down 25.5% from fiscal 2024. In the quarter to June 2026, revenue grew 19.7%, EPS grew 210.0%, free cash flow grew 168.3% and total debt rose 1.35%, each against the same quarter a year earlier.
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Geopark Ltd (GPRK) Beneish M-score
Geopark Ltd's Beneish M-score for fiscal 2025 is −1.93; 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) |
|---|---|---|
| FY2025 | −1.93 | 2.72 |
| FY2024 | −4.66 | (1.13) |
| FY2023 | −3.53 | (0.32) |
| FY2022 | −3.21 | (0.56) |
| FY2021 | −2.65 | 1.66 |
| FY2020 | −4.31 | (2.42) |
| FY2019 | −1.89 | 1.25 |
| FY2018 | −3.14 | 0.03 |
| FY2017 | −3.18 | 0.02 |
| FY2016 | −3.20 | 1.92 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.30 | — | 1.20 | |
| Gross margin index | 1.05 | — | 0.56 | |
| Asset quality index | 1.77 | — | 0.71 | |
| Sales growth index | 0.75 | — | 0.66 | |
| Depreciation index | 1.14 | — | 0.13 | |
| SG&A index | 1.28 | — | −0.22 | |
| Total accruals to total assets | 0.03 | — | 0.16 | |
| Leverage index | 0.90 | — | −0.29 | |
| Beneish M-score | Elevated | −1.93 | ||
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 |
|---|---|
| EGY Vaalco Energy Inc compare | −4.5× |
| INR Infinity Natural Resources Inc. compare | −4.2× |
| WTI W&T Offshore, Inc. compare | −3.8× |
| VTS Vitesse Energy, Inc. compare | −3.4× |
| GRNT Granite Ridge Resources, Inc. compare | −3.2× |
| OBE Obsidian Energy compare | −3.0× |
| TXO TXO Partners LP compare | −2.9× |
| REPX Riley Exploration Permian, Inc. compare | −2.7× |
| GPRK Geopark Ltd | −1.9× |
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