Taylor Devices, Inc.
TAYD Industrials Specialty Industrial Machinery
Taylor Devices, Inc.’s revenue for fiscal 2026 (year ended May 2026) was $41.6 million, down 10.0% from fiscal 2025. In the quarter to August 2026, revenue fell 26.4%, EPS fell 80.0% and free cash flow grew 2,426.6%, each against the same quarter a year earlier.
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Taylor Devices, Inc. (TAYD) Beneish M-score
Taylor Devices, Inc.'s Beneish M-score for fiscal 2026 is −2.55; 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 | −2.55 | (0.33) |
| FY2025 | −2.22 | 0.59 |
| FY2024 | −2.80 | (0.29) |
| FY2023 | −2.52 | 0.36 |
| FY2022 | −2.88 | (0.43) |
| FY2021 | −2.45 | 0.72 |
| FY2020 | −3.17 | (0.62) |
| FY2019 | −2.55 | (1.45) |
| FY2018 | −1.10 | 1.02 |
| FY2017 | −2.12 | 0.44 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.78 | — | 0.72 | |
| Gross margin index | 1.05 | — | 0.56 | |
| Asset quality index | 0.85 | — | 0.34 | |
| Sales growth index | 0.90 | — | 0.80 | |
| Depreciation index | 0.93 | — | 0.11 | |
| SG&A index | 1.00 | — | −0.17 | |
| Total accruals to total assets | 0.02 | — | 0.09 | |
| Leverage index | 0.47 | — | −0.15 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.55 | ||
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 |
|---|---|
| HURC Hurco Companies, Inc. compare | −3.2× |
| RR Richtech Robotics Inc. compare | −2.7× |
| OFLX Omega Flex, Inc. compare | −2.6× |
| TAYD Taylor Devices, Inc. | −2.5× |
| NPWR NET Power Inc. compare | −2.1× |
| ZJK ZJK Industrial Co., Ltd. compare | −1.8× |
| BWEN Broadwind Energy, Inc. compare | −1.2× |
| SHMD SCHMID Group N.V. compare | — |
| SERV Serve Robotics 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