T1 Energy Inc
TE Industrials Electrical Equipment & Parts
T1 Energy Inc’s revenue for fiscal 2025 (year ended December 2025) was $755.3 million, up 25,572.8% from fiscal 2024. In the quarter to June 2026, revenue grew 88.4%, EPS grew 23.8%, free cash flow fell 1,334.4% and total debt rose 27.9%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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T1 Energy Inc (TE) Beneish M-score
T1 Energy Inc's Beneish M-score for fiscal 2025 is 226.44; 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 | 226.44 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.69 | — | 0.63 | |
| Gross margin index | 5.67 | — | 2.99 | |
| Asset quality index | 0.84 | — | 0.34 | |
| Sales growth index | 256.73 | — | 229.00 | |
| Depreciation index | 0.13 | — | 0.02 | |
| SG&A index | 0.01 | — | −0.00 | |
| Total accruals to total assets | (0.30) | — | −1.42 | |
| Leverage index | 0.86 | — | −0.28 | |
| Beneish M-score | Flagged by the model | 226.44 | ||
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 |
|---|---|
| AMPX Amprius Technologies, Inc. compare | −4.8× |
| ENVX Enovix Corporation compare | −3.4× |
| KE Kimball Electronics, Inc. compare | −2.8× |
| HYLN Hyliion Holdings Corp. compare | −2.3× |
| TE T1 Energy Inc | 226× |
| EOSE Eos Energy Enterprises, Inc. compare | — |
| FCEL FuelCell Energy, Inc. compare | — |
| FAC Factorial Energy Inc. compare | — |
| ADSE ADS-TEC Energy PLC 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