Helios Technologies, Inc
HLIO Industrials Specialty Industrial Machinery
Helios Technologies, Inc’s revenue for fiscal 2025 (year ended December 2025) was $839.0 million, up 4.11% from fiscal 2024. In the quarter to June 2026, revenue grew 9.13%, EPS grew 94.1%, free cash flow fell 2.29% and total debt fell 23.5%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Helios Technologies, Inc (HLIO) Beneish M-score
Helios Technologies, Inc's Beneish M-score for fiscal 2025 is −2.65; 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 | −2.65 | 0.11 |
| FY2024 | −2.77 | (0.09) |
| FY2023 | −2.68 | (0.20) |
| FY2022 | −2.48 | (0.50) |
| FY2021 | −1.98 | 0.56 |
| FY2020 | −2.54 | 0.09 |
| FY2019 | −2.62 | (0.91) |
| FY2018 | −1.72 | 0.53 |
| FY2017 | −2.25 | (2.48) |
| FY2016 | 0.23 | 3.14 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.05 | — | 0.97 | |
| Gross margin index | 0.97 | — | 0.51 | |
| Asset quality index | 0.98 | — | 0.40 | |
| Sales growth index | 1.04 | — | 0.93 | |
| Depreciation index | 0.76 | — | 0.09 | |
| SG&A index | 1.02 | — | −0.18 | |
| Total accruals to total assets | (0.05) | — | −0.24 | |
| Leverage index | 0.88 | — | −0.29 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.65 | ||
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 |
|---|---|
| SMR NuScale Power Corporation compare | −4.7× |
| ATS ATS Corporation compare | −3.1× |
| GRC Gorman-Rupp Company (The) compare | −2.7× |
| HLIO Helios Technologies, Inc | −2.7× |
| KAI Kadant Inc compare | −2.6× |
| EPAC Enerpac Tool Group Corp. compare | −2.5× |
| MWA MUELLER WATER PRODUCTS compare | −2.5× |
| SXI Standex International Corporation compare | −2.4× |
| CXT Crane NXT, Co. compare | −2.4× |
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