Vince Holding Corp.
VNCE Consumer Cyclical Apparel Manufacturing
Vince Holding Corp.’s revenue for fiscal 2026 (year ended January 2026) was $300.0 million, up 2.23% from fiscal 2025. In the quarter to July 2026, revenue grew 11.7%, EPS fell 11.8%, free cash flow grew 729.9% and total debt fell 6.60%, each against the same quarter a year earlier.
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Vince Holding Corp. (VNCE) Beneish M-score
Vince Holding Corp.'s Beneish M-score for fiscal 2026 is −2.26; 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 | −2.26 | 0.65 |
| FY2025 | −2.90 | (0.98) |
| FY2024 | −1.92 | 1.14 |
| FY2023 | −3.07 | (0.54) |
| FY2022 | −2.53 | 0.62 |
| FY2021 | −3.15 | (0.95) |
| FY2020 | −2.20 | (0.22) |
| FY2019 | −1.98 | (2.58) |
| FY2018 | 0.60 | 5.89 |
| FY2017 | −5.29 | (1.50) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.91 | — | 0.83 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.97 | — | 0.39 | |
| Sales growth index | 1.02 | — | 0.91 | |
| Depreciation index | 2.85 | — | 0.33 | |
| SG&A index | 0.99 | — | −0.17 | |
| Total accruals to total assets | 0.02 | — | 0.07 | |
| Leverage index | 0.93 | — | −0.31 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.26 | ||
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 |
|---|---|
| PLCE The Children's Place, Inc. compare | −3.4× |
| OXM Oxford Industries, Inc. compare | −3.2× |
| GIII G-III Apparel Group, LTD. compare | −3.0× |
| JL J-Long Group Limited compare | −3.0× |
| JXG Aquaron Acquisition Corp. compare | −2.7× |
| SGC Superior Group of Companies, Inc. compare | −2.6× |
| LAKE Lakeland Industries, Inc. compare | −2.5× |
| VNCE Vince Holding Corp. | −2.3× |
| JRSH Jerash Holdings (US), Inc. compare | −1.7× |
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