BFAM (Bright Horizons Family Solutions) Beneish M-Score: -2.80 (As of Jun. 25, 2026)

What is Bright Horizons Family Solutions Beneish M-Score?

Bright Horizons Family Solutions BFAM +3.16% 72 Beneish M-Score is -2.80 as of Jun. 25, 2026. GuruFocus rates BFAM with a GF Score™ of 72/100 and a GF Value™ of $134.75 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 92 Personal Services companies, Bright Horizons Family Solutions ranks better than 66.3% 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 -2.8 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BFAM' s Beneish M-Score Range Over the Past 10 Years
Min: -3.16 Med: -2.59 Max: -1.59
Current: -2.8

During the past 13 years, the highest Beneish M-Score of Bright Horizons Family Solutions was -1.59. The lowest was -3.16. And the median was -2.59.

Bright Horizons Family Solutions Beneish M-Score Related Terms

Bright Horizons Family Solutions Beneish M-Score Historical Data

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The historical data trend for Bright Horizons Family Solutions'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.

Bright Horizons Family Solutions Beneish M-Score Chart

Bright Horizons Family Solutions Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.63

-2.54

-2.40

-2.71

-2.63

Bright Horizons Family Solutions 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															-2.59	-2.60	-2.58	-2.63	-2.80

BFAM vs ANDG, FTDR, HRB: Beneish M-Score Comparison

For the Personal Services subindustry, Bright Horizons Family Solutions'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.

Bright Horizons Family Solutions Beneish M-Score vs Personal Services Industry

For the Personal Services industry and Consumer Cyclical sector, Bright Horizons Family Solutions's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Bright Horizons Family Solutions's Beneish M-Score falls into.

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72GF Score

Bright Horizons Family Solutions Inc BFAM

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

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Bright Horizons Family Solutions 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 Bright Horizons Family Solutions 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 * 0.8258

0.528 * 0.9919

0.404 * 1.0387

0.892 * 1.0922

0.115 * 0.9221

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9741

4.679 * -0.048288

0.327 * 1.0687

-2.80

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $216 Mil.
Revenue was 712.222 + 733.698 + 802.812 + 731.57 = $2,980 Mil.
Gross Profit was 163.49 + 141.851 + 217.049 + 182.55 = $705 Mil.
Total Current Assets was $430 Mil.
Total Assets was $3,792 Mil.
Property, Plant and Equipment(Net PPE) was $1,231 Mil.
Depreciation, Depletion and Amortization(DDA) was $95 Mil.
Selling, General, & Admin. Expense(SGA) was $382 Mil.
Total Current Liabilities was $928 Mil.
Long-Term Debt & Capital Lease Obligation was $1,577 Mil.
Net Income was 34.108 + 21.74 + 78.552 + 54.775 = $189 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 107.721 + 147.934 + -17.582 + 134.196 = $372 Mil.

Total Receivables was $239 Mil.
Revenue was 665.527 + 674.146 + 719.099 + 670.059 = $2,729 Mil.
Gross Profit was 155.737 + 140.531 + 181.535 + 162.412 = $640 Mil.
Total Current Assets was $448 Mil.
Total Assets was $3,823 Mil.
Property, Plant and Equipment(Net PPE) was $1,307 Mil.
Depreciation, Depletion and Amortization(DDA) was $92 Mil.
Selling, General, & Admin. Expense(SGA) was $359 Mil.
Total Current Liabilities was $744 Mil.
Long-Term Debt & Capital Lease Obligation was $1,619 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)
	=	(215.726 / 2980.302)	/	(239.196 / 2728.831)
	=	0.072384	/	0.087655
	=	0.8258

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)
	=	(640.215 / 2728.831)	/	(704.94 / 2980.302)
	=	0.234611	/	0.236533
	=	0.9919

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 - (429.748 + 1231.313) / 3791.74)	/	(1 - (448.478 + 1306.522) / 3823.357)
	=	0.561926	/	0.540979
	=	1.0387

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
	=	2980.302	/	2728.831
	=	1.0922

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))
	=	(92.16 / (92.16 + 1306.522))	/	(94.76 / (94.76 + 1231.313))
	=	0.065891	/	0.071459
	=	0.9221

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)
	=	(381.875 / 2980.302)	/	(358.96 / 2728.831)
	=	0.128133	/	0.131544
	=	0.9741

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)
	=	((1577.275 + 927.768) / 3791.74)	/	((1619.239 + 744.254) / 3823.357)
	=	0.660658	/	0.618172
	=	1.0687

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
	=	(189.175 - 0	-	372.269)	/	3791.74
	=	-0.048288

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.

Bright Horizons Family Solutions has a M-score of -2.80 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 -2.80 mean?

Bright Horizons Family Solutions (BFAM) has a Beneish M-Score of -2.80 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bright Horizons Family Solutions and its competitors. According to the industry distribution chart, Bright Horizons Family Solutions ranks #31 out of 92 companies in the Personal Services industry, placing it in the top 33.7%.

Is Bright Horizons Family Solutions' Beneish M-Score too high?

Bright Horizons Family Solutions' current Beneish M-Score is -2.80. Based on the distribution chart, Bright Horizons Family Solutions ranks #31 out of 92 companies in the Personal Services industry, which is above the industry midpoint. Overall, Bright Horizons Family Solutions has a GF Score™ of 72/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Bright Horizons Family Solutions' Beneish M-Score compare to ANDG and FTDR?

According to the Personal Services industry distribution chart, Bright Horizons Family Solutions ranks #31 out of 92 companies for Beneish M-Score. This puts Bright Horizons Family Solutions in the upper half of its 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 Personal Services company?

A good Beneish M-Score depends on the Personal 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 Bright Horizons Family Solutions and its competitors. Bright Horizons Family Solutions's current Beneish M-Score is -2.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Bright Horizons Family Solutions stock overvalued right now?

Based on GuruFocus' analysis, Bright Horizons Family Solutions (BFAM) is currently considered Significantly Undervalued. The stock's GF Value™ is $134.75, compared to a current price of $67.92 — trading 49.6% below its estimated fair value. The current Beneish M-Score is -2.80. Bright Horizons Family Solutions' overall GF Score™ is 72/100 with 1 warning sign 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 Bright Horizons Family Solutions (BFAM), the current Beneish M-Score is -2.80 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 Bright Horizons Family Solutions (BFAM) Overvalued in 2026?

Based on GuruFocus' analysis, Bright Horizons Family Solutions stock appears to be undervalued. The current stock price of $67.92 is trading 49.6% below its estimated GF Value™ of $134.75. GuruFocus considers Bright Horizons Family Solutions to be Significantly Undervalued.

Key valuation signals for BFAM:

Beneish M-Score: -2.80
GF Value™: $134.75 vs. price of $67.92 (49.6% below fair value)
GF Score™: 72/100 with 1 warning sign

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

Bright Horizons Family Solutions Business Description

Industry Consumer Cyclical Personal Services

Comparable Companies ANDG FTDR HRB CSV MED RGS VGES EVTK DROR CLIK ROL SCI HKSE:08603 LSE:XPS XTER:CWC ROCO:5530 OHEL:MUSTI BSP:AUAU3 LSE:MER ASX:PFP

Other Exchanges BHA:Germany

Address 2 Wells Avenue, Newton, MA, USA, 02459

Website https://www.brighthorizons.com

Bright Horizons Family Solutions Inc provider of early education and child care, family care solutions, and workforce education services that help working families and client employees personally and professionally. It provides services under multi-year contracts with employers that offer early education and child care, back-up care, and educational advisory services as part of their employee benefits package. The company has three business segments; Full-service center-based child care, Backup care, and Educational advisory services. The majority of the revenue is generated by full-service center-based child care, which includes traditional center-based child care and early education services. Other services provided by the company include in-home child and elder care, and Others.

72GF Score

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

$67.92

Price

$134.75

GF Value

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