Emerson Radio Corporation
MSN Technology Consumer Electronics
Emerson Radio Corporation’s revenue for fiscal 2026 (year ended March 2026) was $6.3 million, down 41.5% from fiscal 2025. In the quarter to June 2026, revenue fell 37.1%, EPS grew 40.0%, free cash flow fell 66.2% and total debt fell 40.0%, each against the same quarter a year earlier.
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Emerson Radio Corporation (MSN) Beneish M-score
Emerson Radio Corporation's Beneish M-score for fiscal 2026 is −0.16; 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 | −0.16 | 1.62 |
| FY2025 | −1.78 | (1.19) |
| FY2024 | −0.59 | 2.83 |
| FY2023 | −3.42 | (3.79) |
| FY2022 | 0.37 | 2.91 |
| FY2021 | −2.54 | 1.22 |
| FY2020 | −3.76 | (1.64) |
| FY2019 | −2.12 | (1.18) |
| FY2018 | −0.94 | 2.64 |
| FY2017 | −3.58 | 0.00 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.55 | — | 1.43 | |
| Gross margin index | 5.61 | — | 2.96 | |
| Asset quality index | 0.91 | — | 0.37 | |
| Sales growth index | 0.59 | — | 0.52 | |
| Depreciation index | 0.70 | — | 0.08 | |
| SG&A index | 1.30 | — | −0.22 | |
| Total accruals to total assets | (0.03) | — | −0.15 | |
| Leverage index | 0.95 | — | −0.31 | |
| Beneish M-score | Flagged by the model | −0.16 | ||
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 |
|---|---|
| FOXX Foxx Development Holdings Inc. compare | −10.2× |
| BOXL Boxlight Corporation compare | −3.6× |
| FEBO Fenbo Holdings Limited compare | −3.1× |
| KOSS Koss Corporation compare | −2.7× |
| ZEPP Zepp Health Corporation Sponsored ADR compare | −2.5× |
| MSN Emerson Radio Corporation | −0.2× |
| AXIL AXIL Brands, Inc. compare | 1.0× |
| RIME Algorhythm Holdings, Inc. compare | — |
| WLDS Wearable Devices Ltd. 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