ALTG (Alta Equipment Group) Beneish M-Score: -3.13 (As of Jun. 25, 2026)

What is Alta Equipment Group Beneish M-Score?

Alta Equipment Group ALTG +5.69% 75 Beneish M-Score is -3.13 as of Jun. 25, 2026. GuruFocus rates ALTG with a GF Score™ of 75/100 and a GF Value™ of $7.53 (Fairly Valued). The stock has 8 warning signs investors should review. Among 1,020 Business Services companies, Alta Equipment Group ranks better than 84.22% on this metric.

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 -3.13 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Alta Equipment Group's Beneish M-Score or its related term are showing as below:

ALTG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.13 Med: -2.32 Max: 0.52
Current: -3.13

During the past 9 years, the highest Beneish M-Score of Alta Equipment Group was 0.52. The lowest was -3.13. And the median was -2.32.

Alta Equipment Group Beneish M-Score Related Terms

Alta Equipment Group Beneish M-Score Historical Data

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The historical data trend for Alta Equipment Group'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.

Alta Equipment Group Beneish M-Score Chart

Alta Equipment Group Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.31

-2.22

-2.60

-3.03

-2.99

Alta Equipment Group Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.98	-3.13	-2.89	-2.99	-3.13

ALTG vs DWAY, MWG, AITX: Beneish M-Score Comparison

For the Rental & Leasing Services subindustry, Alta Equipment Group'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.

Alta Equipment Group Beneish M-Score vs Business Services Industry

For the Business Services industry and Industrials sector, Alta Equipment Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Alta Equipment Group's Beneish M-Score falls into.

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75GF Score

Alta Equipment Group Inc ALTG

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Alta Equipment Group Beneish M-Score Calculation

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 Alta Equipment Group for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9415

0.528 * 1.0216

0.404 * 0.9666

0.892 * 0.9814

0.115 * 0.9452

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9855

4.679 * -0.118088

0.327 * 1.0635

-3.13

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $192 Mil.
Revenue was 410.5 + 509.1 + 422.6 + 481.2 = $1,823 Mil.
Gross Profit was 109.3 + 119.5 + 117.8 + 122.3 = $469 Mil.
Total Current Assets was $724 Mil.
Total Assets was $1,335 Mil.
Property, Plant and Equipment(Net PPE) was $480 Mil.
Depreciation, Depletion and Amortization(DDA) was $132 Mil.
Selling, General, & Admin. Expense(SGA) was $424 Mil.
Total Current Liabilities was $528 Mil.
Long-Term Debt & Capital Lease Obligation was $814 Mil.
Net Income was -19.5 + -11.7 + -41.6 + -6.1 = $-79 Mil.
Non Operating Income was 1.9 + 0 + 0.4 + 5.1 = $7 Mil.
Cash Flow from Operations was 20.8 + 33.9 + 2.5 + 14.1 = $71 Mil.

Total Receivables was $208 Mil.
Revenue was 423 + 498.1 + 448.8 + 488.1 = $1,858 Mil.
Gross Profit was 115 + 116.5 + 124.6 + 132 = $488 Mil.
Total Current Assets was $792 Mil.
Total Assets was $1,505 Mil.
Property, Plant and Equipment(Net PPE) was $560 Mil.
Depreciation, Depletion and Amortization(DDA) was $143 Mil.
Selling, General, & Admin. Expense(SGA) was $439 Mil.
Total Current Liabilities was $584 Mil.
Long-Term Debt & Capital Lease Obligation was $838 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(192 / 1823.4)	/	(207.8 / 1858)
	=	0.105298	/	0.111841
	=	0.9415

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(488.1 / 1858)	/	(468.9 / 1823.4)
	=	0.262702	/	0.257157
	=	1.0216

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (723.8 + 479.7) / 1334.6)	/	(1 - (791.8 + 559.8) / 1504.5)
	=	0.098232	/	0.101628
	=	0.9666

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

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.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	1823.4	/	1858
	=	0.9814

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

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))
	=	(142.9 / (142.9 + 559.8))	/	(131.5 / (131.5 + 479.7))
	=	0.203358	/	0.215151
	=	0.9452

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

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(424.2 / 1823.4)	/	(438.6 / 1858)
	=	0.232642	/	0.23606
	=	0.9855

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((814 + 527.8) / 1334.6)	/	((838.4 + 583.9) / 1504.5)
	=	1.005395	/	0.945364
	=	1.0635

8. TATA = Total Accruals to Total Assets

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
	=	(-78.9 - 7.4	-	71.3)	/	1334.6
	=	-0.118088

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.

Alta Equipment Group has a M-score of -3.13 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -3.13 mean?

Alta Equipment Group (ALTG) has a Beneish M-Score of -3.13 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Alta Equipment Group and its competitors. According to the industry distribution chart, Alta Equipment Group ranks #161 out of 1020 companies in the Business Services industry, placing it in the top 15.8%.

Is Alta Equipment Group's Beneish M-Score too high?

Alta Equipment Group's current Beneish M-Score is -3.13. Based on the distribution chart, Alta Equipment Group ranks #161 out of 1020 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Alta Equipment Group has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Alta Equipment Group's Beneish M-Score compare to DWAY and MWG?

According to the Business Services industry distribution chart, Alta Equipment Group ranks #161 out of 1020 companies for Beneish M-Score. This places Alta Equipment Group in the top 16% 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 a Business Services company?

A good Beneish M-Score depends on the Business Services 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 Alta Equipment Group and its competitors. Alta Equipment Group's current Beneish M-Score is -3.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Alta Equipment Group stock overvalued right now?

Based on GuruFocus' analysis, Alta Equipment Group (ALTG) is currently considered Fairly Valued. The stock's GF Value™ is $7.53, compared to a current price of $7.61 — trading 1.1% above its estimated fair value. The current Beneish M-Score is -3.13. Alta Equipment Group's overall GF Score™ is 75/100 with 8 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 Alta Equipment Group (ALTG), the current Beneish M-Score is -3.13 as of Jun. 25, 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 Alta Equipment Group (ALTG) Overvalued in 2026?

Based on GuruFocus' analysis, Alta Equipment Group stock appears to be overvalued. The current stock price of $7.61 is trading 1.1% above its estimated GF Value™ of $7.53. GuruFocus considers Alta Equipment Group to be Fairly Valued.

Key valuation signals for ALTG:

Beneish M-Score: -3.13
GF Value™: $7.53 vs. price of $7.61 (1.1% above fair value)
GF Score™: 75/100 with 8 warning signs

No single metric tells the full story. See the ALTG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Alta Equipment Group Business Description

Industry Industrials Business Services

Comparable Companies DWAY MWG AITX AIHS BDST ZCAR URI SUNB AER XPAR:AYV UHAL R BSP:RENT3 TSX:EFN TSE:8439 HKSE:02588 CAR GATX EQPT WSC

Other Exchanges ALTGpA.PFD:USA

Address 13211 Merriman Road, Livonia, MI, USA, 48150

Website https://www.altaequipment.com

Alta Equipment Group Inc is an integrated equipment dealership platform in the U.S. Its segments are Material Handling, Construction Equipment, and Master Distribution. The Material Handling segment is engaged in operations related to the sale, service, and rental of lift trucks in Michigan, Illinois, Indiana, New York, Virginia, and throughout the New England states whereas, the Construction Equipment segment is principally engaged in operations related to the sale, service, and rental of construction equipment in Michigan, Indiana, Illinois, Ohio, Pennsylvania, New York, Florida and throughout the New England States, and The Master Distribution segment is engaged in environmental processing equipment distribution with sub dealers throughout the United States and Canada.

75GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$7.61

Price

$7.53

GF Value

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