Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 -2.63 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Nucor's Beneish M-Score or its related term are showing as below:
BUE:NUE'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.93 Med: -2.6 Max: -1.9
Current: -2.63
During the past 13 years, the highest Beneish M-Score of Nucor was -1.90. The lowest was -2.93. And the median was -2.60.
Nucor Beneish M-Score Related Terms
Nucor Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Nucor'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.
BUE:NUE vs STLD, RS, TX: Beneish M-Score Comparison
For the Steel subindustry, Nucor'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.
Nucor Beneish M-Score vs Steel Industry
For the Steel industry and Basic Materials sector, Nucor's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nucor's Beneish M-Score falls into.
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 Nucor 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 * 1.0213
+
0.528 * 0.7389
+
0.404 * 0.9465
+
0.892 * 1.5451
+
0.115 * 1.017
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1118
+
4.679 * -0.038859
-
0.327 * 0.9154
=
-2.31
* 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.
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.
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))
=
(1383862.578 / (1383862.578 + 14667602.221))
/
(2019958.348 / (2019958.348 + 21807030.432))
=
0.086214
/
0.084776
=
1.017
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
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
=
(3127774.091 - -22016.894
-
5086018.166)
/
49826463.802
=
-0.038859
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.
Nucor has a M-score of -2.31 suggests that the company is unlikely to be a manipulator.
Nucor (BUE:NUE) has a Beneish M-Score of -2.63 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nucor and its competitors. According to the industry distribution chart, Nucor ranks #231 out of 587 companies in the Steel industry, placing it in the top 39.4%.
Is Nucor's Beneish M-Score too high?
Nucor's current Beneish M-Score is -2.63. Based on the distribution chart, Nucor ranks #231 out of 587 companies in the Steel industry, which is above the industry midpoint. Overall, Nucor has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nucor's Beneish M-Score compare to STLD and RS?
According to the Steel industry distribution chart, Nucor ranks #231 out of 587 companies for Beneish M-Score. This puts Nucor 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 Steel company?
A good Beneish M-Score depends on the Steel 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 Nucor and its competitors. Nucor's current Beneish M-Score is -2.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nucor stock overvalued right now?
Based on GuruFocus' analysis, Nucor (BUE:NUE) is currently considered Significantly Overvalued. The stock's GF Value™ is ARS16,998.65, compared to a current price of ARS23,210.00 — trading 36.5% above its estimated fair value. The current Beneish M-Score is -2.63. Nucor's overall GF Score™ is 84/100 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 Nucor (BUE:NUE), the current Beneish M-Score is -2.63 as of Jul. 16, 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 Nucor (BUE:NUE) Overvalued in 2026?
Based on GuruFocus' analysis, Nucor stock appears to be overvalued.
The current stock price of ARS23,210.00 is trading 36.5% above its estimated GF Value™ of ARS16,998.65.
GuruFocus considers Nucor to be Significantly Overvalued.
Key valuation signals for BUE:NUE:
Beneish M-Score: -2.63
GF Value™: ARS16,998.65 vs. price of ARS23,210.00 (36.5% above fair value)
No single metric tells the full story. See the BUE:NUE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nucor Corp manufactures steel and steel products. The company's reportable segments are steel mills, steel products, and raw materials. The majority of its revenue is derived from the steel mills segment, which is engaged in producing sheet steel (hot-rolled, cold-rolled, and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling, and sheet piling), and bar steel products. Nucor manufactures steel principally from scrap steel and scrap steel substitutes using electric arc furnaces (EAFs), along with continuous casting and automated rolling mills. The steel mills segment sells its products mainly to steel service centers, fabricators, and manufacturers located in the United States, Canada, and Mexico.
84GF Score
Get the complete analysis for BUE:NUE
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BUE:NUE has been successfully added to your 
