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The zones of discrimination for M-Score is as such:
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Good Sign:
Beneish M-Score -8.78 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for ProFrac Holding's Beneish M-Score or its related term are showing as below:
ACDC'
s Beneish M-Score Range Over the Past 10 Years
Min: -21.08 Med: -2.91 Max: -0.55
Current: -8.78
During the past 6 years, the highest Beneish M-Score of ProFrac Holding was -0.55. The lowest was -21.08. And the median was -2.91.
The historical data trend for ProFrac Holding's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ACDC vs FLOC, FET, FTK: Beneish M-Score Comparison
For the Oil & Gas Equipment & Services subindustry, ProFrac Holding's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ProFrac Holding Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, ProFrac Holding's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where ProFrac Holding's Beneish M-Score falls into.
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of ProFrac Holding for today is based on a combination of the following eight different indices:
M
=
-4.84
+
0.92 * DSRI
+
0.528 * GMI
+
0.404 * AQI
+
0.892 * SGI
+
0.115 * DEPI
=
-4.84
+
0.92 * 1.149
+
0.528 * -9.4225
+
0.404 * 1.0823
+
0.892 * 0.8382
+
0.115 * 0.9285
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0061
+
4.679 * -0.165517
-
0.327 * 1.1175
=
-8.78
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
DEPI
=
(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))
/
(Depreciation_t / (Depreciaton_t + PPE_t))
=
(436.7 / (436.7 + 1774))
/
(399.7 / (399.7 + 1479))
=
0.197539
/
0.212753
=
0.9285
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
TATA
=
(IncomefromContinuingOperations_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(NetIncome_t - NonOperatingIncome_t
-
CashFlowsfromOperations_t)
/
TotalAssets_t
=
(-406.7 - -77.9
-
86.3)
/
2507.9
=
-0.165517
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
ProFrac Holding has a M-score of -8.78 suggests that the company is unlikely to be a manipulator.
ProFrac Holding (ACDC) has a Beneish M-Score of -8.78 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ProFrac Holding and its competitors. According to the industry distribution chart, ProFrac Holding ranks #11 out of 829 companies in the Oil & Gas industry, placing it in the top 1.3%.
Is ProFrac Holding's Beneish M-Score too high?
ProFrac Holding's current Beneish M-Score is -8.78. Based on the distribution chart, ProFrac Holding ranks #11 out of 829 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, ProFrac Holding has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ProFrac Holding's Beneish M-Score compare to FLOC and FET?
According to the Oil & Gas industry distribution chart, ProFrac Holding ranks #11 out of 829 companies for Beneish M-Score. This places ProFrac Holding in the top 1% of its industry — outperforming the majority of peers. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ProFrac Holding and its competitors. ProFrac Holding's current Beneish M-Score is -8.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ProFrac Holding stock overvalued right now?
Based on GuruFocus' analysis, ProFrac Holding (ACDC) is currently considered Fairly Valued. The stock's GF Value™ is $4.56, compared to a current price of $4.86 — trading 6.6% above its estimated fair value. The current Beneish M-Score is -8.78. ProFrac Holding's overall GF Score™ is 63/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For ProFrac Holding (ACDC), the current Beneish M-Score is -8.78 as of Aug. 27, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is ProFrac Holding (ACDC) Overvalued in 2026?
Based on GuruFocus' analysis, ProFrac Holding stock appears to be overvalued.
The current stock price of $4.86 is trading 6.6% above its estimated GF Value™ of $4.56.
GuruFocus considers ProFrac Holding to be Fairly Valued.
Key valuation signals for ACDC:
Beneish M-Score: -8.78
GF Value™: $4.56 vs. price of $4.86 (6.6% above fair value)
No single metric tells the full story. See the ACDC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ProFrac Holding Corp is a technology-focused, vertically integrated energy services company providing hydraulic fracturing, proppant production, completion services, and related products, including distributed power generation, to upstream oil and natural gas companies in the United States. The Company operates through four segments: Stimulation Services, Proppant Production, Manufacturing, and Flotek. The Stimulation Services segment, which generates maximum revenue, provides hydraulic fracturing services using mobile units and auxiliary equipment. The Proppant Production segment supplies proppant, the Manufacturing segment sells engineered products such as pumps, valves, and piping, and Flotek is a chemistry and data technology company serving the E&P industry.
63GF Score
Get the complete analysis for ACDC
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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