stockrowSVRN, Inc.
SVRN Financial Asset Management
SVRN, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $13.4 million, down 47.9% from fiscal 2024.
- Revenue
- −0.46%
- EPS
- −178.6%
- Free cash flow
- −216.4%
Quarter to June 2025, against a year earlier
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SVRN, Inc. (SVRN) Beneish M-score
SVRN, Inc.'s Beneish M-score for fiscal 2025 cannot be worked out: not meaningful for banks, insurers and REITs.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2024 | −3.68 | (1.73) |
| FY2023 | −1.94 | (12.20) |
| FY2022 | 10.25 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 2.25 | — | 2.07 | |
| Gross margin index | 1.34 | — | 0.71 | |
| Asset quality index | 0.78 | — | 0.32 | |
| Sales growth index | 0.52 | — | 0.47 | |
| Depreciation index Depreciation not reported — index set to 1 | 1.00 | — | Set to 1 | 0.12 |
| SG&A index | 3.21 | — | −0.55 | |
| Total accruals to total assets | — | — | n/a | — |
| Leverage index | — | — | n/a | — |
| Beneish M-score | n/a — not meaningful for banks, insurers and REITs | — | ||
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
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