Team, Inc.
TISI Industrials Specialty Business Services
Team, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $896.5 million, up 5.19% from fiscal 2024. In the quarter to June 2026, revenue fell 7.80%, EPS fell 126.3%, free cash flow grew 47.5% and total debt fell 11.9%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Team, Inc. (TISI) Beneish M-score
Team, Inc.'s Beneish M-score for fiscal 2025 is −2.74; 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 | −2.74 | 0.36 |
| FY2024 | −3.10 | (0.02) |
| FY2023 | −3.09 | (0.01) |
| FY2022 | −3.07 | 0.63 |
| FY2021 | −3.70 | 1.05 |
| FY2020 | −4.75 | (1.81) |
| FY2019 | −2.94 | 0.09 |
| FY2018 | −3.03 | (0.25) |
| FY2017 | −2.79 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.98 | — | 0.90 | |
| Gross margin index | 1.01 | — | 0.53 | |
| Asset quality index | 1.07 | — | 0.43 | |
| Sales growth index | 1.05 | — | 0.94 | |
| Depreciation index | 1.05 | — | 0.12 | |
| SG&A index | 0.97 | — | −0.17 | |
| Total accruals to total assets | (0.08) | — | −0.36 | |
| Leverage index | 0.92 | — | −0.30 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.74 | ||
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 |
|---|---|
| SST System1, Inc. compare | −3.6× |
| DLHC DLH Holdings Corp. compare | −3.0× |
| TISI Team, Inc. | −2.7× |
| ANPA Rich Sparkle Holdings Limited compare | −2.7× |
| WFCF Where Food Comes From Inc. compare | −2.7× |
| QUAD Quad Graphics, Inc compare | −2.6× |
| YSXT YSX Tech Co., Ltd compare | −1.3× |
| SPIR Spire Global, Inc. compare | −0.7× |
| NTIP Network-1 Technologies, 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