AMRZ (Amrize) Beneish M-Score: -2.87 (As of Jul. 03, 2026)


AMRZ Amrize Ltd AMRZ
20 GF Score
Price $53.64
! 3 Warning Signs
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What is Amrize Beneish M-Score?

Amrize AMRZ +1.73% 20 Beneish M-Score is -2.87 as of Jul. 03, 2026. GuruFocus rates AMRZ with a GF Score™ of 20/100. The stock has 3 warning signs investors should review. Among 387 Building Materials companies, Amrize ranks better than 76.74% 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 -2.87 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

AMRZ' s Beneish M-Score Range Over the Past 10 Years
Min: -2.95   Med: -2.87   Max: -2.55
Current: -2.87

During the past 5 years, the highest Beneish M-Score of Amrize was -2.55. The lowest was -2.95. And the median was -2.87.

Amrize Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Amrize'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.

Amrize Beneish M-Score Chart

Amrize Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00 -2.95

Amrize Quarterly Data
Dec22 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 -2.55 -2.95 -2.87

AMRZ vs CRH, VMC, MLM: Beneish M-Score Comparison

For the Building Materials subindustry, Amrize'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.

Amrize Beneish M-Score vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, Amrize's Beneish M-Score distribution charts can be found below:

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


AMRZ
20GF Score
Amrize Ltd AMRZ
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Amrize 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 Amrize 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 * 0.9495+0.528 * 1.0242+0.404 * 0.9254+0.892 * 1.0252+0.115 * 1.0482
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1876+4.679 * -0.042029-0.327 * 1.0545
=-2.76

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $1,358 Mil.
Revenue was 2178 + 2839 + 3675 + 3220 = $11,912 Mil.
Gross Profit was 211 + 760 + 1086 + 966 = $3,023 Mil.
Total Current Assets was $4,284 Mil.
Total Assets was $24,269 Mil.
Property, Plant and Equipment(Net PPE) was $8,970 Mil.
Depreciation, Depletion and Amortization(DDA) was $918 Mil.
Selling, General, & Admin. Expense(SGA) was $1,181 Mil.
Total Current Liabilities was $3,054 Mil.
Long-Term Debt & Capital Lease Obligation was $5,740 Mil.
Net Income was -116 + 298 + 545 + 429 = $1,156 Mil.
Non Operating Income was 6 + -5 + 4 + 3 = $8 Mil.
Cash Flow from Operations was -896 + 1804 + 854 + 406 = $2,168 Mil.
 Total Receivables was $1,395 Mil.
Revenue was 2081 + 2849 + 3446 + 3243 = $11,619 Mil.
Gross Profit was 222 + 777 + 1042 + 979 = $3,020 Mil.
Total Current Assets was $3,222 Mil.
Total Assets was $22,306 Mil.
Property, Plant and Equipment(Net PPE) was $8,144 Mil.
Depreciation, Depletion and Amortization(DDA) was $878 Mil.
Selling, General, & Admin. Expense(SGA) was $970 Mil.
Total Current Liabilities was $1,935 Mil.
Long-Term Debt & Capital Lease Obligation was $5,730 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)
=(1358 / 11912) / (1395 / 11619)
=0.114003 / 0.120062
=0.9495

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)
=(3020 / 11619) / (3023 / 11912)
=0.259919 / 0.253778
=1.0242

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 - (4284 + 8970) / 24269) / (1 - (3222 + 8144) / 22306)
=0.453871 / 0.490451
=0.9254

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
=11912 / 11619
=1.0252

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))
=(878 / (878 + 8144)) / (918 / (918 + 8970))
=0.097318 / 0.09284
=1.0482

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)
=(1181 / 11912) / (970 / 11619)
=0.099144 / 0.083484
=1.1876

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)
=((5740 + 3054) / 24269) / ((5730 + 1935) / 22306)
=0.362355 / 0.34363
=1.0545

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
=(1156 - 8 - 2168) / 24269
=-0.042029

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.

Amrize has a M-score of -2.76 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 -2.87 mean?
Amrize (AMRZ) has a Beneish M-Score of -2.87 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Amrize and its competitors. According to the industry distribution chart, Amrize ranks #90 out of 387 companies in the Building Materials industry, placing it in the top 23.3%.
Is Amrize's Beneish M-Score too high?
Amrize's current Beneish M-Score is -2.87. Based on the distribution chart, Amrize ranks #90 out of 387 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, Amrize has a GF Score™ of 20/100, reflecting its overall financial health beyond just this single metric.
How does Amrize's Beneish M-Score compare to CRH and VMC?
According to the Building Materials industry distribution chart, Amrize ranks #90 out of 387 companies for Beneish M-Score. This places Amrize in the top 23% 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 Building Materials company?
A good Beneish M-Score depends on the Building Materials 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 Amrize and its competitors. Amrize's current Beneish M-Score is -2.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Amrize stock overvalued right now?
Amrize (AMRZ) has a current Beneish M-Score of -2.87. The current Beneish M-Score is -2.87. Amrize's overall GF Score™ is 20/100 with 3 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 Amrize (AMRZ), the current Beneish M-Score is -2.87 as of Jul. 03, 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.

Amrize Business Description

Address Grafenauweg 8, Zug, CHE, 6300
Amrize is a building solutions company focused exclusively on the North American market. Amrize earns revenue from the sale of cement, aggregates, ready-mix concrete, asphalt, roofing systems, and other building solutions. The company is organized into two reportable segments: building materials and building envelope. The building materials business consists of Amrize's cement, aggregates, ready-mix concrete, and asphalt operations. The building envelope segment offers advanced roofing and wall systems, including single-ply membranes, insulation, shingles, sheathing, waterproofing, and protective coatings, along with adhesives, tapes, and sealants.
20GF Score

Get the complete analysis for AMRZ

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

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