BASE (Couchbase) Beneish M-Score: -3.17 (As of Jun. 26, 2026)

What is Couchbase Beneish M-Score?

Couchbase BASE 17 Beneish M-Score is -3.17 as of Jun. 26, 2026. GuruFocus rates BASE with a GF Score™ of 17/100 and a GF Value™ of $19.01. The stock has 7 warning signs investors should review.

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 -3.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BASE' s Beneish M-Score Range Over the Past 10 Years
Min: -3.61 Med: -3.17 Max: -2.3
Current: -3.17

During the past 6 years, the highest Beneish M-Score of Couchbase was -2.30. The lowest was -3.61. And the median was -3.17.

Couchbase Beneish M-Score Related Terms

Couchbase Beneish M-Score Historical Data

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The historical data trend for Couchbase'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.

Couchbase Beneish M-Score Chart

Couchbase Annual Data

Trend

Jan20

Jan21

Jan22

Jan23

Jan24

Jan25

Beneish M-Score

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0.00

-2.75

-2.79

-3.26

-3.35

Couchbase Quarterly Data
	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24	Apr24	Jul24	Oct24	Jan25	Apr25	Jul25
Beneish M-Score	Get a 7-Day Free Trial															-3.40	-3.39	-3.35	-3.13	-3.17

BASE vs ATEN, SUPX, RPD: Beneish M-Score Comparison

For the Software - Infrastructure subindustry, Couchbase'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.

Couchbase Beneish M-Score vs Software Industry

For the Software industry and Technology sector, Couchbase's Beneish M-Score distribution charts can be found below:

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

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17GF Score

Couchbase Inc BASE

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

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Couchbase 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 Couchbase 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 * 1.2291

0.528 * 1.0111

0.404 * 1.314

0.892 * 1.1098

0.115 * 0.7917

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9214

4.679 * -0.234449

0.327 * 1.0796

-3.17

This Year (Jul25) TTM:

Last Year (Jul24) TTM:

Total Receivables was $42.6 Mil.
Revenue was 57.566 + 56.523 + 54.922 + 51.628 = $220.6 Mil.
Gross Profit was 50.225 + 49.667 + 48.664 + 45.072 = $193.6 Mil.
Total Current Assets was $212.1 Mil.
Total Assets was $250.4 Mil.
Property, Plant and Equipment(Net PPE) was $17.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $3.5 Mil.
Selling, General, & Admin. Expense(SGA) was $191.6 Mil.
Total Current Liabilities was $116.9 Mil.
Long-Term Debt & Capital Lease Obligation was $7.1 Mil.
Net Income was -23.786 + -17.679 + -15.611 + -18.152 = $-75.2 Mil.
Non Operating Income was 1.633 + 2.05 + 0.802 + 1.79 = $6.3 Mil.
Cash Flow from Operations was -3.469 + -6.783 + 4.358 + -16.895 = $-22.8 Mil.

Total Receivables was $31.3 Mil.
Revenue was 51.589 + 51.327 + 50.089 + 45.813 = $198.8 Mil.
Gross Profit was 45.126 + 45.645 + 44.949 + 40.702 = $176.4 Mil.
Total Current Assets was $210.7 Mil.
Total Assets was $235.9 Mil.
Property, Plant and Equipment(Net PPE) was $10.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.6 Mil.
Selling, General, & Admin. Expense(SGA) was $187.4 Mil.
Total Current Liabilities was $107.1 Mil.
Long-Term Debt & Capital Lease Obligation was $1.2 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)
	=	(42.643 / 220.639)	/	(31.263 / 198.818)
	=	0.19327	/	0.157244
	=	1.2291

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)
	=	(176.422 / 198.818)	/	(193.628 / 220.639)
	=	0.887354	/	0.877578
	=	1.0111

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 - (212.052 + 17.849) / 250.434)	/	(1 - (210.675 + 10.55) / 235.947)
	=	0.08199	/	0.062395
	=	1.314

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
	=	220.639	/	198.818
	=	1.1098

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))
	=	(1.552 / (1.552 + 10.55))	/	(3.45 / (3.45 + 17.849))
	=	0.128243	/	0.161979
	=	0.7917

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)
	=	(191.605 / 220.639)	/	(187.378 / 198.818)
	=	0.868409	/	0.94246
	=	0.9214

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)
	=	((7.131 + 116.935) / 250.434)	/	((1.17 + 107.103) / 235.947)
	=	0.495404	/	0.458887
	=	1.0796

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
	=	(-75.228 - 6.275	-	-22.789)	/	250.434
	=	-0.234449

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.

Couchbase has a M-score of -3.17 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 -3.17 mean?

Couchbase (BASE) has a Beneish M-Score of -3.17 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Couchbase and its competitors.

Is Couchbase's Beneish M-Score too high?

Couchbase's current Beneish M-Score is -3.17. Overall, Couchbase has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.

How does Couchbase's Beneish M-Score compare to ATEN and SUPX?

Couchbase's Beneish M-Score of -3.17 can be compared against companies in the Software industry. 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 Software company?

A good Beneish M-Score depends on the Software 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 Couchbase and its competitors. Couchbase's current Beneish M-Score is -3.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Couchbase stock overvalued right now?

Couchbase (BASE) has a current Beneish M-Score of -3.17. The stock's GF Value™ is $19.01, compared to a current price of $24.51 — trading 28.9% above its estimated fair value. The current Beneish M-Score is -3.17. Couchbase's overall GF Score™ is 17/100 with 7 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 Couchbase (BASE), the current Beneish M-Score is -3.17 as of Jun. 26, 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 Couchbase (BASE) Overvalued in 2026?

Based on GuruFocus' analysis, Couchbase stock appears to be overvalued. The current stock price of $24.51 is trading 28.9% above its estimated GF Value™ of $19.01.

Key valuation signals for BASE:

Beneish M-Score: -3.17
GF Value™: $19.01 vs. price of $24.51 (28.9% above fair value)
GF Score™: 17/100 with 7 warning signs

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

Couchbase Business Description

Industry Technology Software

Comparable Companies ATEN SUPX RPD VRNT TUYA RDWR GCT YEXT FLYW RZLV MSFT ORCL PLTR PANW CRWD SNPS NET FTNT CRWV XAMS:ADYEN

Address 3250 Olcott Street, Santa Clara, CA, USA, 95054

Website https://www.couchbase.com

Couchbase Inc provides a modern cloud database that offers the robust capabilities required for business-critical applications on a scalable and available platform. It empower developers and architects to build, deploy and run mission-critical applications. Couchbase delivers a high-performance, flexible and scalable modern database that runs across the data center and any cloud. Geographically, the company generates a majority of its revenue from the United States.

17GF Score

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

$24.51

Price

$19.01

GF Value

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