stockrowMaase Inc. - Sponsored ADR
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Maase Inc. - Sponsored ADR’s revenue for fiscal 2026 (year ended June 2026) was $27.0 million, down 75.2% from fiscal 2025.
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Maase Inc. - Sponsored ADR (MAAS) Beneish M-score
Maase Inc. - Sponsored ADR's Beneish M-score for fiscal 2026 is 0.32; 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 | 0.32 | 3.43 |
| FY2025 | −3.11 | (10.57) |
| FY2024 | 7.46 | 8.25 |
| FY2023 | −0.80 | 2.26 |
| FY2022 | −3.06 | 0.10 |
| FY2021 | −3.16 | (5.57) |
| FY2020 | 2.41 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.48 | — | 0.44 | |
| Gross margin index | 7.29 | — | 3.85 | |
| Asset quality index | 1.40 | — | 0.57 | |
| Sales growth index | 0.25 | — | 0.22 | |
| Depreciation index | 1.33 | — | 0.15 | |
| SG&A index | 0.30 | — | −0.05 | |
| Total accruals to total assets | 0.02 | — | 0.08 | |
| Leverage index | 0.30 | — | −0.10 | |
| Beneish M-score | Flagged by the model | 0.32 | ||
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 |
|---|---|
| SAIC Science Applications International Corporation compare | −2.9× |
| KD Kyndryl Holdings, Inc. compare | −2.8× |
| G Genpact Limited compare | −2.7× |
| GDS GDS Holdings compare | −2.7× |
| EXLS ExlService Holdings, Inc. compare | −2.7× |
| PSN Parsons Corporation compare | −2.7× |
| INGM Ingram Micro Holding Corporation compare | −2.5× |
| MAAS Maase Inc. - Sponsored ADR | 0.3× |
| APLD Applied Digital Corporation compare | 0.5× |
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
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