CascadesCADNF 62 Beneish M-Score is 13.12 as of Jun. 25, 2026. GuruFocus rates CADNF with a GF Score™ of 62/100 and a GF Value™ of $151.57 (Possible Value Trap). The stock has 1 warning sign investors should review. Among 373 Packaging & Containers companies, Cascades ranks worse than 99.2% 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.
Warning Sign:
Beneish M-Score 13.12 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Cascades's Beneish M-Score or its related term are showing as below:
CADNF'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.25 Med: -2.78 Max: 13.12
Current: 13.12
During the past 13 years, the highest Beneish M-Score of Cascades was 13.12. The lowest was -3.25. And the median was -2.78.
Cascades Beneish M-Score Related Terms
Cascades Beneish M-Score Historical Data
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The historical data trend for Cascades'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.
CADNF vs SW, PKG, AMCR: Beneish M-Score Comparison
For the Packaging & Containers subindustry, Cascades'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.
Cascades Beneish M-Score vs Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Cascades's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Cascades'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 Cascades 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 * 0.0481
+
0.528 * 0.4097
+
0.404 * 0.9686
+
0.892 * 20.2997
+
0.115 * 0.9492
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.0493
+
4.679 * -0.060571
-
0.327 * 0.9561
=
13.42
* 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))
=
(203.432 / (203.432 + 1968.515))
/
(210.111 / (210.111 + 1919.096))
=
0.093663
/
0.09868
=
0.9492
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
=
(74.015 - -42.27
-
325.634)
/
3456.268
=
-0.060571
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.
Cascades has a M-score of 13.42 signals that the company is likely to be a manipulator.
Cascades (CADNF) has a Beneish M-Score of 13.12 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cascades and its competitors. According to the industry distribution chart, Cascades ranks #370 out of 373 companies in the Packaging & Containers industry, placing it in the top 99.2%.
Is Cascades' Beneish M-Score too high?
Cascades' current Beneish M-Score is 13.12. Based on the distribution chart, Cascades ranks #370 out of 373 companies in the Packaging & Containers industry, which is in the bottom quartile relative to peers. Overall, Cascades has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Cascades' Beneish M-Score compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Cascades ranks #370 out of 373 companies for Beneish M-Score. This places Cascades in the lower 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 Packaging & Containers company?
A good Beneish M-Score depends on the Packaging & Containers 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 Cascades and its competitors. Cascades's current Beneish M-Score is 13.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cascades stock overvalued right now?
Based on GuruFocus' analysis, Cascades (CADNF) is currently considered Possible Value Trap. The stock's GF Value™ is $151.57, compared to a current price of $8.10 — trading 94.7% below its estimated fair value. The current Beneish M-Score is 13.12. Cascades' overall GF Score™ is 62/100 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 Cascades (CADNF), the current Beneish M-Score is 13.12 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 Cascades (CADNF) Overvalued in 2026?
Based on GuruFocus' analysis, Cascades stock appears to be undervalued.
The current stock price of $8.10 is trading 94.7% below its estimated GF Value™ of $151.57.
GuruFocus considers Cascades to be Possible Value Trap.
Key valuation signals for CADNF:
Beneish M-Score: 13.12
GF Value™: $151.57 vs. price of $8.10 (94.7% below fair value)
No single metric tells the full story. See the CADNF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cascades Inc is a paper and packaging company that produces, converts, and sells packaging and tissue products composed predominantly of recycled fibres. Its customer base includes food processing companies, the maintenance industry, the accommodations and housing industry, micro-businesses, and boutiques. The products are marketed through brands such as Cascades Fresh, Cascades Protect, Cascades IMGN, Cascades PRO, and Cascades Fluff & Tuff, among others. The company is organized into two main business segments: Packaging Products and Tissue Papers. A majority of its revenue is generated from the Packaging Product segment. Geographically, the company generates the majority of its revenue from the operations located in Canada.
62GF Score
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