Inspire Veterinary Partners, Inc.
IVPR Consumer Cyclical Personal Services
Inspire Veterinary Partners, Inc.’s revenue for fiscal 2024 (year ended December 2024) was $16.6 million, roughly unchanged from fiscal 2023. In the quarter to September 2025, revenue grew 6.60%, EPS grew 51.7% and free cash flow grew 79.1%, each against the same quarter a year earlier.
Follow IVPR
Inspire Veterinary Partners, Inc. (IVPR) Beneish M-score
Inspire Veterinary Partners, Inc.'s Beneish M-score for fiscal 2024 is −4.20; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2024 | −4.20 | 0.52 |
| FY2023 | −4.72 | — |
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.19 | — | 0.18 | |
| Gross margin index | 1.07 | — | 0.57 | |
| Asset quality index | 1.02 | — | 0.41 | |
| Sales growth index | 1.00 | — | 0.89 | |
| Depreciation index | 0.61 | — | 0.07 | |
| SG&A index | 1.21 | — | −0.21 | |
| Total accruals to total assets | (0.21) | — | −0.99 | |
| Leverage index | 0.85 | — | −0.28 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −4.20 | ||
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 |
|---|---|
| TRNR Interactive Strength Inc. compare | −4.9× |
| IVPR Inspire Veterinary Partners, Inc. | −4.2× |
| YFOR YYForce Inc. compare | −3.3× |
| RGS Regis Corporation compare | −2.6× |
| CSV Carriage Services, Inc. compare | −2.1× |
| MRM MEDIROM Healthcare Technologies Inc. Unsponsored ADR compare | −1.2× |
| EJH E-Home Household Service Holdings Limited compare | 169× |
| MED MEDIFAST INC compare | — |
| CLIK Click Holdings Limited 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