stockrowAptera Motors Corp.
SEV Consumer Cyclical Auto Manufacturers
- EPS
- +41.8%
- Free cash flow
- −128.7%
Quarter to June 2026, against a year earlier
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Aptera Motors Corp. (SEV) 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 |
|---|---|
| GGR Gogoro Inc. compare | −3.6× |
| NIU Niu Technologies compare | −3.5× |
| LOT Lotus Technology Inc. Sponsored ADR compare | −3.4× |
| CYD China Yuchai International Limited compare | −2.6× |
| LOBO Lobo EV Technologies Ltd compare | −2.6× |
| LCID Lucid Group, Inc. compare | — |
| PSNY Polestar Automotive Holding UK PLC compare | — |
| SEV Aptera Motors Corp. | — |
| WKHS Workhorse Group, 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