PetVivo Holdings, Inc.
PETV Healthcare Medical Devices
PetVivo Holdings, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $1.1 million, up 0.80% from fiscal 2025. In the quarter to June 2026, revenue grew 13.5%, EPS grew 44.4% and free cash flow grew 40.1%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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PetVivo Holdings, Inc. (PETV) Beneish M-score
PetVivo Holdings, Inc.'s Beneish M-score for fiscal 2026 is −8.74; 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 | −8.74 | (191.57) |
| FY2025 | 182.83 | 190.65 |
| FY2024 | −7.82 | (9.72) |
| FY2023 | 1.90 | 7.11 |
| FY2018 | −5.21 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.16 | — | 0.14 | |
| Gross margin index | 1.33 | — | 0.70 | |
| Asset quality index | 1.12 | — | 0.45 | |
| Sales growth index | 1.01 | — | 0.90 | |
| Depreciation index | 0.49 | — | 0.06 | |
| SG&A index | 0.98 | — | −0.17 | |
| Total accruals to total assets | (1.22) | — | −5.71 | |
| Leverage index | 0.83 | — | −0.27 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −8.74 | ||
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 |
|---|---|
| PETV PetVivo Holdings, Inc. | −8.7× |
| BTCY Biotricity Inc. compare | −3.2× |
| LFWD Lifeward Ltd. compare | −3.2× |
| SINT SINTX TECHNOLOGIES, INC. compare | −3.0× |
| ALUR Allurion Technologies, Inc. compare | −2.9× |
| IRIX IRIDEX Corporation compare | −2.8× |
| CTSO Cytosorbents Corporation compare | −2.1× |
| RBOT Vicarious Surgical Inc. compare | — |
| HSCS HeartSciences 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