Nxu, Inc.
NXUR Industrials Electrical Equipment & Parts
Nxu, Inc.’s revenue for fiscal 2024 (year ended December 2024) was $18,000.00, down 96.4% from fiscal 2023. In the quarter to March 2025, revenue fell 75.0%, EPS grew 92.6% and free cash flow grew 61.1%, each against the same quarter a year earlier.
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Nxu, Inc. (NXUR) Beneish M-score
Nxu, Inc.'s Beneish M-score for fiscal 2024 cannot be worked out: days’ sales in receivables index and gross margin index cannot be worked out.
Beneish M-score, annual
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|
How fiscal 2024’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | — | — | n/a | — |
| Gross margin index | — | — | n/a | — |
| Asset quality index | 0.68 | — | 0.28 | |
| Sales growth index | 0.04 | — | 0.03 | |
| Depreciation index | 0.47 | — | 0.05 | |
| SG&A index | 17.84 | — | −3.07 | |
| Total accruals to total assets | (1.38) | — | −6.44 | |
| Leverage index | 0.67 | — | −0.22 | |
| Beneish M-score | n/a — days’ sales in receivables index and gross margin index cannot be worked out | — | ||
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 |
|---|---|
| DFLI Dragonfly Energy Holdings Corp. compare | −4.3× |
| FLUX Flux Power Holdings, Inc. compare | −2.9× |
| CCTG CCSC Technology International Holdings Limited compare | −2.4× |
| XPON Expion Energy, Inc. compare | −1.5× |
| PITEF Heramba Electric PLC compare | — |
| POLA Polar Power, Inc. compare | — |
| GWHT ESS Tech, Inc. compare | — |
| NXUR Nxu, Inc. | — |
| EPOW E-Power Inc. 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