Altria Group (BUE:MO) Beneish M-Score: -2.37 (As of Jun. 27, 2026)

What is Altria Group Beneish M-Score?

Altria Group BUE:MO +0.42% 59 Beneish M-Score is -2.37 as of Jun. 27, 2026. GuruFocus rates BUE:MO with a GF Score™ of 59/100 and a GF Value™ of ARS21,136.52 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 45 Tobacco Products companies, Altria Group ranks better than 51.11% 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 -2.37 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BUE:MO' s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.68 Max: 36.05
Current: -2.37

During the past 13 years, the highest Beneish M-Score of Altria Group was 36.05. The lowest was -3.52. And the median was -2.68.

Altria Group Beneish M-Score Related Terms

Altria Group Beneish M-Score Historical Data

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The historical data trend for Altria 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.

Altria Group Beneish M-Score Chart

Altria Group Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-3.12

34.07

-3.35

-3.18

-2.15

Altria 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															-2.52	-2.80	-2.65	-2.15	-2.37

BUE:MO vs TPB, UVV, AIIR: Beneish M-Score Comparison

For the Tobacco subindustry, Altria 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.

Altria Group Beneish M-Score vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, Altria Group's Beneish M-Score distribution charts can be found below:

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

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59GF Score

Altria Group Inc BUE:MO

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

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Altria 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 Altria 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 * 1.0409

0.528 * 0.9758

0.404 * 1.0185

0.892 * 1.3871

0.115 * 1.1724

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9078

4.679 * -0.013566

0.327 * 0.985

-2.13

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ARS397,102 Mil.
Revenue was 6652850.141 + 7372112.571 + 7130923.124 + 6280463.662 = ARS27,436,349 Mil.
Gross Profit was 4902247.287 + 5270356.516 + 5176743.277 + 4570847.845 = ARS19,920,195 Mil.
Total Current Assets was ARS7,273,671 Mil.
Total Assets was ARS48,356,908 Mil.
Property, Plant and Equipment(Net PPE) was ARS2,418,964 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS336,037 Mil.
Selling, General, & Admin. Expense(SGA) was ARS3,336,651 Mil.
Total Current Liabilities was ARS11,755,046 Mil.
Long-Term Debt & Capital Lease Obligation was ARS33,641,777 Mil.
Net Income was 3052369.033 + 1621313.2 + 3225279.455 + 2823240.565 = ARS10,722,202 Mil.
Non Operating Income was 225117.46 + -1645988.513 + 164319.501 + 192331.779 = ARS-1,064,220 Mil.
Cash Flow from Operations was 3249521.59 + 4747820.48 + 4201690.372 + 243382.807 = ARS12,442,415 Mil.

Total Receivables was ARS275,038 Mil.
Revenue was 4817420.92 + 5157060.052 + 5079471.777 + 4725553.432 = ARS19,779,506 Mil.
Gross Profit was 3463554.009 + 3640040.036 + 3619503.841 + 3290962.453 = ARS14,014,060 Mil.
Total Current Assets was ARS6,481,505 Mil.
Total Assets was ARS38,121,481 Mil.
Property, Plant and Equipment(Net PPE) was ARS1,714,187 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS286,023 Mil.
Selling, General, & Admin. Expense(SGA) was ARS2,649,882 Mil.
Total Current Liabilities was ARS11,358,624 Mil.
Long-Term Debt & Capital Lease Obligation was ARS24,975,113 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)
	=	(397101.606 / 27436349.498)	/	(275037.53 / 19779506.181)
	=	0.014474	/	0.013905
	=	1.0409

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)
	=	(14014060.339 / 19779506.181)	/	(19920194.925 / 27436349.498)
	=	0.708514	/	0.726051
	=	0.9758

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 - (7273670.961 + 2418964.007) / 48356908.212)	/	(1 - (6481504.579 + 1714187.395) / 38121480.879)
	=	0.79956	/	0.785011
	=	1.0185

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
	=	27436349.498	/	19779506.181
	=	1.3871

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))
	=	(286022.62 / (286022.62 + 1714187.395))	/	(336036.556 / (336036.556 + 2418964.007))
	=	0.142996	/	0.121973
	=	1.1724

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)
	=	(3336651.42 / 27436349.498)	/	(2649881.689 / 19779506.181)
	=	0.121614	/	0.133971
	=	0.9078

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)
	=	((33641776.879 + 11755046.476) / 48356908.212)	/	((24975113.368 + 11358623.567) / 38121480.879)
	=	0.938787	/	0.953104
	=	0.985

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
	=	(10722202.253 - -1064219.773	-	12442415.249)	/	48356908.212
	=	-0.013566

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.

Altria Group has a M-score of -2.13 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 -2.37 mean?

Altria Group (BUE:MO) has a Beneish M-Score of -2.37 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Altria Group and its competitors. According to the industry distribution chart, Altria Group ranks #22 out of 45 companies in the Tobacco Products industry, placing it in the top 48.9%.

Is Altria Group's Beneish M-Score too high?

Altria Group's current Beneish M-Score is -2.37. Based on the distribution chart, Altria Group ranks #22 out of 45 companies in the Tobacco Products industry, which is above the industry midpoint. Overall, Altria Group has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Altria Group's Beneish M-Score compare to TPB and UVV?

According to the Tobacco Products industry distribution chart, Altria Group ranks #22 out of 45 companies for Beneish M-Score. This puts Altria Group 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 Tobacco Products company?

A good Beneish M-Score depends on the Tobacco Products 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 Altria Group and its competitors. Altria Group's current Beneish M-Score is -2.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Altria Group stock overvalued right now?

Based on GuruFocus' analysis, Altria Group (BUE:MO) is currently considered Significantly Overvalued. The stock's GF Value™ is ARS21,136.52, compared to a current price of ARS28,440.00 — trading 34.6% above its estimated fair value. The current Beneish M-Score is -2.37. Altria Group's overall GF Score™ is 59/100 with 6 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 Altria Group (BUE:MO), the current Beneish M-Score is -2.37 as of Jun. 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 Altria Group (BUE:MO) Overvalued in 2026?

Based on GuruFocus' analysis, Altria Group stock appears to be overvalued. The current stock price of ARS28,440.00 is trading 34.6% above its estimated GF Value™ of ARS21,136.52. GuruFocus considers Altria Group to be Significantly Overvalued.

Key valuation signals for BUE:MO:

Beneish M-Score: -2.37
GF Value™: ARS21,136.52 vs. price of ARS28,440.00 (34.6% above fair value)
GF Score™: 59/100 with 6 warning signs

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

Altria Group Business Description

Industry Consumer Defensive Tobacco Products

Comparable Companies TPB UVV AIIR ISPR CHUC PYYX RYM HCMC VPRB ECGS PM LSE:BATS TSE:2914 NSE:ITC LSE:IMB XKRX:033780 XZIM:BAT.ZW HKSE:06969 ISX:HMSP BOM:500163

Other Exchanges MO:USA MO:Mexico 1MO:Italy 0R31:UK PHM7:Germany MOOO34:Brazil PHM7:Bulgaria ALTR:Austria

Address 6601 West Broad Street, Richmond, VA, USA, 23230

Website https://www.altria.com

Altria comprises Philip Morris USA, U.S. Smokeless Tobacco, John Middleton, Horizon Innovations, and Helix Innovations. Through its tobacco subsidiaries, Altria maintains the leading position in cigarettes and smokeless tobacco in the United States and the number-two spot in machine-made cigars. The company's Marlboro brand is the leading cigarette brand in the US with 40% share in 2024. Beyond its core business, it holds an 8% interest in the world's largest brewer, Anheuser-Busch InBev, and a 41% stake in cannabis manufacturer Cronos. In reduced-risk products, it acquired vaping company Njoy Holdings in 2023, operates a joint venture with Japan Tobacco in the heated tobacco category for the US, and sells the On brand in nicotine pouches.

59GF Score

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

ARS28,440.00

Price

ARS21,136.52

GF Value

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