Osisko Gold Group Inc.
OGG Basic Materials Gold
In the quarter to June 2026, revenue grew 376.7%, EPS grew 212.0%, free cash flow fell 228.4% and total debt rose 950.9%, each against the same quarter a year earlier.
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Osisko Gold Group Inc. (OGG) Beneish M-score
Osisko Gold Group Inc.'s Beneish M-score for fiscal 2025 is 2.54; 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) |
|---|---|---|
| FY2025 | 2.54 | (0.33) |
| FY2022 | 2.86 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.47 | — | 0.43 | |
| Gross margin index | (0.08) | — | −0.04 | |
| Asset quality index | 0.15 | — | 0.06 | |
| Sales growth index | 7.63 | — | 6.81 | |
| Depreciation index | 11.63 | — | 1.34 | |
| SG&A index | 0.13 | — | −0.02 | |
| Total accruals to total assets | (0.11) | — | −0.50 | |
| Leverage index | 2.12 | — | −0.69 | |
| Beneish M-score | Flagged by the model | 2.54 | ||
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 |
|---|---|
| IAUX i-80 Gold Corp. compare | −4.6× |
| GAU Galiano Gold Inc. compare | −3.8× |
| GROY Gold Royalty Corp. compare | −1.7× |
| OGG Osisko Gold Group Inc. | 2.5× |
| DC Dakota Gold Corp. compare | — |
| CNL Collective Mining Ltd. compare | — |
| CTGO Contango Silver & Gold Inc. compare | — |
| NFGC New Found Gold Corp. compare | — |
| THM International Tower Hill Mines 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