Stabilis Solutions, Inc.
SLNG Energy Oil & Gas Integrated
Stabilis Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $68.2 million, down 6.89% from fiscal 2024. In the quarter to June 2026, revenue fell 31.2%, EPS fell 733.3%, free cash flow grew 23.1% and total debt fell 4.29%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Stabilis Solutions, Inc. (SLNG) Beneish M-score
Stabilis Solutions, Inc.'s Beneish M-score for fiscal 2025 is −3.44; 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 | −3.44 | (0.24) |
| FY2024 | −3.20 | 0.14 |
| FY2023 | −3.34 | (0.54) |
| FY2022 | −2.80 | (0.32) |
| FY2021 | −2.48 | 0.28 |
| FY2020 | −2.75 | (21.26) |
| FY2019 | 18.50 | 16.56 |
| FY2018 | 1.94 | 6.37 |
| FY2017 | −4.43 | (3.92) |
| FY2016 | −0.52 | 3.24 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.54 | — | 0.50 | |
| Gross margin index | 1.10 | — | 0.58 | |
| Asset quality index | 1.08 | — | 0.44 | |
| Sales growth index | 0.93 | — | 0.83 | |
| Depreciation index | 1.00 | — | 0.11 | |
| SG&A index | 1.20 | — | −0.21 | |
| Total accruals to total assets | (0.12) | — | −0.56 | |
| Leverage index | 0.88 | — | −0.29 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.44 | ||
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 |
|---|---|
| VIVK Vivakor, Inc. compare | −7.5× |
| EC Ecopetrol S.A. compare | −3.7× |
| SLNG Stabilis Solutions, Inc. | −3.4× |
| YPF YPF Sociedad Anonima compare | −3.1× |
| NFG National Fuel Gas Company compare | −2.4× |
| TGS Transportadora De Gas Sa Ord B compare | −1.9× |
| DEC Diversified Energy Company PLC compare | −1.7× |
| SKYQ Sky Quarry Inc. compare | — |
| CGBSF Crown LNG Holdings Limited 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