Nomad Power Solutions, Inc.
NMAD Healthcare Biotechnology
In the quarter to June 2026, EPS grew 44.8% and free cash flow fell 230.6%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
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Nomad Power Solutions, Inc. (NMAD) Beneish M-score
Beneish M-score, annual
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|
How the score is made up
There are no annual figures to work it out from.
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 |
|---|---|
| XBIT XBiotech Inc. compare | −4.2× |
| HYFT MindWalk Holdings Corp. compare | −3.7× |
| CSBR Champions Oncology, Inc. compare | −1.8× |
| SPRO Spero Therapeutics, Inc. compare | −1.0× |
| FBIO Fortress Biotech, Inc. compare | 0.0× |
| VRCA Verrica Pharmaceuticals Inc. compare | 14.2× |
| NMAD Nomad Power Solutions, Inc. | — |
| CING Cingulate Inc. compare | — |
| OSTX OS Therapies Incorporated 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