Professional Diversity Network, Inc.
IPDN Industrials Staffing & Employment Services
Professional Diversity Network, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.5 million, down 2.73% from fiscal 2024. In the quarter to June 2026, revenue fell 28.0%, EPS grew 34.8% and free cash flow fell 21.7%, each against the same quarter a year earlier.
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Professional Diversity Network, Inc. (IPDN) Beneish M-score
Professional Diversity Network, Inc.'s Beneish M-score for fiscal 2025 is −3.50; 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 | −3.50 | (1.10) |
| FY2024 | −2.40 | 1.40 |
| FY2023 | −3.80 | (1.29) |
| FY2022 | −2.51 | (0.04) |
| FY2021 | −2.47 | 0.05 |
| FY2020 | −2.52 | (3.07) |
| FY2019 | 0.55 | 11.68 |
| FY2018 | −11.14 | (3.95) |
| FY2017 | −7.18 | (5.05) |
| FY2016 | −2.13 | 2.88 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.84 | — | 0.77 | |
| Gross margin index | 1.41 | — | 0.74 | |
| Asset quality index | 1.45 | — | 0.59 | |
| Sales growth index | 0.97 | — | 0.87 | |
| Depreciation index | 0.99 | — | 0.11 | |
| SG&A index | 1.49 | — | −0.26 | |
| Total accruals to total assets | (0.25) | — | −1.16 | |
| Leverage index | 1.00 | — | −0.33 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.50 | ||
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 |
|---|---|
| JOB GEE Group Inc. compare | −5.7× |
| CIRC Circle8 Group, Inc. compare | −4.9× |
| IPDN Professional Diversity Network, Inc. | −3.5× |
| BGSF BGSF, Inc. compare | −3.5× |
| MHH Mastech Digital, Inc compare | −3.1× |
| HQI HireQuest, Inc. compare | −2.7× |
| GLXG Galaxy Payroll Group Limited compare | −2.4× |
| TBI TrueBlue, Inc. compare | −2.3× |
| NIXX Nixxy, Inc. compare | 15,266× |
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