Mega Fortune Company Limited
MGRT Technology Information Technology Services
Mega Fortune Company Limited’s revenue for fiscal 2025 (year ended September 2025) was $11.1 million, up 233.3% from fiscal 2024. Revenue growth for three consecutive years.
Follow MGRT
Mega Fortune Company Limited (MGRT) Beneish M-score
Mega Fortune Company Limited's Beneish M-score for fiscal 2025 is 3.48; 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) |
|---|---|---|
| FY2025 | 3.48 | 0.38 |
| FY2024 | 3.10 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.80 | — | 0.74 | |
| Gross margin index | 1.06 | — | 0.56 | |
| Asset quality index | 1.66 | — | 0.67 | |
| Sales growth index | 3.33 | — | 2.97 | |
| Depreciation index | 0.97 | — | 0.11 | |
| SG&A index | 0.81 | — | −0.14 | |
| Total accruals to total assets | 0.75 | — | 3.49 | |
| Leverage index | 0.27 | — | −0.09 | |
| Beneish M-score | Flagged by the model | 3.48 | ||
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 |
|---|---|
| BBAI BigBear.ai Holdings, Inc. compare | −4.0× |
| CNXC Concentrix Corporation compare | −3.4× |
| FORTY Formula Systems (1985) Ltd. compare | −2.9× |
| GLOB Globant S.A. compare | −2.8× |
| EFOR Everforth Inc. compare | −2.7× |
| VNET VNET Group, Inc. - Unsponsored ADR compare | −2.4× |
| PONY Pony AI Inc. - Sponsored ADR compare | −1.7× |
| MGRT Mega Fortune Company Limited | 3.5× |
| KEEL Keel Infrastructure 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