AAR Beneish M-Score (Annual)
Beneish M-Score (Annual) Chart
Historical Beneish M-Score (Annual) Data
|Data for this Date Range|
|May 31, 2018||Upgrade|
|May 31, 2017||Upgrade|
|May 31, 2016||Upgrade|
|May 31, 2015||Upgrade|
|May 31, 2014||Upgrade|
|May 31, 2013||Upgrade|
|May 31, 2012||Upgrade|
|May 31, 2011||Upgrade|
|May 31, 2010||Upgrade|
|May 31, 2009||Upgrade|
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|May 31, 2007||Upgrade|
|May 31, 2006||Upgrade|
|May 31, 2005||Upgrade|
|May 31, 2004||Upgrade|
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About Beneish M Score
The Beneish M Score helps to uncover companies who are likely to be manipulating their reported earnings. Companies with a higher score are more likely to be manipulators. This is a probabilistic model, so it will not detect manipulators with 100% accuracy.
The best cut-off point depends on the costs mistakenly classifying in one of two ways:
1) Classifying firm that is manipulating earnings as a non-manipulator (Type I error), and
2) Classifying a firm as a manipulator when it actually was not manipulating (Type II Error).
Here are optimal cut-offs according to Beneish, presented as the score followed by the cost of Type I error relative to cost of Type II error):
M Score HTML Table:
|Score||Relative Error Costs|
(Type I:Type II)
|M Score > -1.49||(10:1)||M Score > -1.78||(20:1)||M Score > -1.89||(40+:1)|
Beneish excluded financial institutions from his sample when calculating the M-Score, so extreme care should be taken when looking at M-Scores of financial firms - their business models are different from the manufacturing and other service firms that Beneish used in his study.
If you want more details, here is the original Beneish M Score Paper, or you can learn about our calculation by clicking "Learn More" below.
Beneish M-Score (Annual) Benchmarks
|General Dynamics Corp||Upgrade|
|Triumph Group Inc||Upgrade|
Beneish M-Score (Annual) Range, Past 5 Years
Beneish M-Score (Annual) Excel Add-In Codes
- Metric Code: beneish_m_score
- Data Point Example: =YCP("AIR", "beneish_m_score")
- Data Series Example: =YCS("AIR", "beneish_m_score", -4)
To find the codes for any of our financial metrics, see our Complete Reference of Metric Codes.
Access our powerful Excel Add-in with a YCharts Professional Membership. Learn More.
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