Lobo EV Technologies Ltd
LOBO Consumer Cyclical Auto Manufacturers
Lobo EV Technologies Ltd’s revenue for fiscal 2025 (year ended December 2025) was $23.2 million, up 9.58% from fiscal 2024.
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Lobo EV Technologies Ltd (LOBO) Beneish M-score
Lobo EV Technologies Ltd's Beneish M-score for fiscal 2025 is −2.55; 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 | −2.55 | (0.16) |
| FY2024 | −2.39 | 0.09 |
| FY2023 | −2.48 | (0.97) |
| FY2022 | −1.51 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.88 | — | 1.73 | |
| Gross margin index | 0.87 | — | 0.46 | |
| Asset quality index | 0.88 | — | 0.36 | |
| Sales growth index | 1.10 | — | 0.98 | |
| Depreciation index | 1.47 | — | 0.17 | |
| SG&A index | 1.14 | — | −0.20 | |
| Total accruals to total assets | (0.18) | — | −0.86 | |
| Leverage index | 1.07 | — | −0.35 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.55 | ||
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 |
|---|---|
| LOBO Lobo EV Technologies Ltd | −2.6× |
| VEVMQ Vicinity Motor Corp. compare | −1.8× |
| PEVM Phoenix Motor Inc. compare | 6.4× |
| FLYE Fly-E Group, Inc. compare | — |
| SVUHF SRIVARU Holding Limited compare | — |
| DCX Digital Currency X Technology Inc. compare | — |
| ARVLF Arrival compare | — |
| GOEVQ Canoo Inc. compare | — |
| FFAI Faraday Future Intelligent Electric 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