Loop Industries, Inc.
LOOP Basic Materials Specialty Chemicals
Loop Industries, Inc.’s revenue for fiscal 2026 (year ended February 2026) was $514,000.00, down 95.3% from fiscal 2025. In the quarter to May 2026, revenue fell 98.3%, EPS was flat, free cash flow grew 60.5% and total debt fell 5.70%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Loop Industries, Inc. (LOOP) Beneish M-score
Loop Industries, Inc.'s Beneish M-score for fiscal 2026 is 17.06; 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) |
|---|---|---|
| FY2026 | 17.06 | (39.17) |
| FY2025 | 56.23 | 59.34 |
| FY2024 | −3.11 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 25.03 | — | 23.03 | |
| Gross margin index | 3.79 | — | 2.00 | |
| Asset quality index | 2.36 | — | 0.95 | |
| Sales growth index | 0.05 | — | 0.04 | |
| Depreciation index | 1.26 | — | 0.14 | |
| SG&A index | 14.70 | — | −2.53 | |
| Total accruals to total assets | (0.26) | — | −1.20 | |
| Leverage index | 1.67 | — | −0.55 | |
| Beneish M-score | Flagged by the model | 17.06 | ||
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 |
|---|---|
| YMAT J-Star Holding Co., Ltd compare | −16.1× |
| CITR CitroTech Inc. compare | −12.0× |
| TSEOQ Trinseo PLC compare | −3.4× |
| BGLC BioNexus Gene Lab Corp. compare | −3.3× |
| NTIC Northern Technologies International Corporation compare | −2.6× |
| BON Bon Natural Life Limited compare | −2.0× |
| SNES Senestech, Inc. compare | 1.0× |
| LOOP Loop Industries, Inc. | 17.1× |
| CRKN Crown Electrokinetics Corp. 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