BP (CHIX:BPL) Beneish M-Score: -2.83 (As of Jun. 24, 2026)

BP CHIX:BPL +0.16% 66 Beneish M-Score is -2.83 as of Jun. 24, 2026. GuruFocus rates CHIX:BPL with a GF Score™ of 66/100 and a GF Value™ of £4.66 (Fairly Valued). The stock has 6 warning signs investors should review. Among 822 Oil & Gas companies, BP ranks better than 61.56% 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 -2.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CHIX:BPl' s Beneish M-Score Range Over the Past 10 Years
Min: -3.54 Med: -2.84 Max: -1.82
Current: -2.83

During the past 13 years, the highest Beneish M-Score of BP was -1.82. The lowest was -3.54. And the median was -2.84.

BP Beneish M-Score Related Terms

BP Beneish M-Score Historical Data

* Premium members only.

The historical data trend for BP'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.

BP Beneish M-Score Chart

BP Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

Get a 7-Day Free Trial

-2.47

-2.91

-2.85

-2.99

BP 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															-2.77	-2.82	-2.83	-2.99	-2.83

CHIX:BPL vs XOM, CVX: Beneish M-Score Comparison

For the Oil & Gas Integrated subindustry, BP'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.

BP Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, BP's Beneish M-Score distribution charts can be found below:

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

Save Embed

66GF Score

BP PLC CHIX:BPL

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

View Full Analysis

BP 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 BP 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 * 1.1833

0.528 * 0.7951

0.404 * 0.898

0.892 * 0.9958

0.115 * 0.9177

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0251

4.679 * -0.069914

0.327 * 1.0727

-2.83

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was £26,232 Mil.
Revenue was 39191.25 + 35395.101 + 35830.8 + 34364.099 = £144,781 Mil.
Gross Profit was 9471.75 + 5735.466 + 6560.84 + 6296.928 = £28,065 Mil.
Total Current Assets was £95,731 Mil.
Total Assets was £226,307 Mil.
Property, Plant and Equipment(Net PPE) was £72,907 Mil.
Depreciation, Depletion and Amortization(DDA) was £13,418 Mil.
Selling, General, & Admin. Expense(SGA) was £13,170 Mil.
Total Current Liabilities was £78,530 Mil.
Long-Term Debt & Capital Lease Obligation was £47,742 Mil.
Net Income was 2881.5 + -2556.234 + 859.14 + 1200.573 = £2,385 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = £0 Mil.
Cash Flow from Operations was 2145 + 5678.694 + 5761.64 + 4621.727 = £18,207 Mil.

Total Receivables was £22,262 Mil.
Revenue was 36304.47 + 36189.832 + 35724.024 + 37177.014 = £145,395 Mil.
Gross Profit was 6533.334 + 4578.308 + 5688.9 + 5607.324 = £22,408 Mil.
Total Current Assets was £78,234 Mil.
Total Assets was £217,801 Mil.
Property, Plant and Equipment(Net PPE) was £77,763 Mil.
Depreciation, Depletion and Amortization(DDA) was £12,938 Mil.
Selling, General, & Admin. Expense(SGA) was £12,902 Mil.
Total Current Liabilities was £64,096 Mil.
Long-Term Debt & Capital Lease Obligation was £49,195 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)
	=	(26232 / 144781.25)	/	(22261.788 / 145395.34)
	=	0.181184	/	0.153112
	=	1.1833

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)
	=	(22407.866 / 145395.34)	/	(28064.984 / 144781.25)
	=	0.154117	/	0.193844
	=	0.7951

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 - (95730.75 + 72906.75) / 226307.25)	/	(1 - (78233.598 + 77763.006) / 217800.504)
	=	0.254829	/	0.283764
	=	0.898

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
	=	144781.25	/	145395.34
	=	0.9958

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))
	=	(12938.409 / (12938.409 + 77763.006))	/	(13418.119 / (13418.119 + 72906.75))
	=	0.142648	/	0.155437
	=	0.9177

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)
	=	(13170.184 / 144781.25)	/	(12901.974 / 145395.34)
	=	0.090966	/	0.088737
	=	1.0251

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)
	=	((47742 + 78529.5) / 226307.25)	/	((49195.44 + 64096.488) / 217800.504)
	=	0.557965	/	0.520164
	=	1.0727

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
	=	(2384.979 - 0	-	18207.061)	/	226307.25
	=	-0.069914

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.

BP has a M-score of -2.83 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 -2.83 mean?

BP (CHIX:BPL) has a Beneish M-Score of -2.83 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BP and its competitors. According to the industry distribution chart, BP ranks #316 out of 822 companies in the Oil & Gas industry, placing it in the top 38.4%.

Is BP's Beneish M-Score too high?

BP's current Beneish M-Score is -2.83. Based on the distribution chart, BP ranks #316 out of 822 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, BP has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does BP's Beneish M-Score compare to XOM and CVX?

According to the Oil & Gas industry distribution chart, BP ranks #316 out of 822 companies for Beneish M-Score. This puts BP 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 an Oil & Gas company?

A good Beneish M-Score depends on the Oil & Gas 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 BP and its competitors. BP's current Beneish M-Score is -2.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is BP stock overvalued right now?

Based on GuruFocus' analysis, BP (CHIX:BPL) is currently considered Fairly Valued. The stock's GF Value™ is £4.66, compared to a current price of £5.00 — trading 7.3% above its estimated fair value. The current Beneish M-Score is -2.83. BP's overall GF Score™ is 66/100 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 BP (CHIX:BPL), the current Beneish M-Score is -2.83 as of Jun. 24, 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 BP (CHIX:BPL) Overvalued in 2026?

Based on GuruFocus' analysis, BP stock appears to be overvalued. The current stock price of £5.00 is trading 7.3% above its estimated GF Value™ of £4.66. GuruFocus considers BP to be Fairly Valued.

Key valuation signals for CHIX:BPL:

Beneish M-Score: -2.83
GF Value™: £4.66 vs. price of £5.00 (7.3% above fair value)
GF Score™: 66/100 with 6 warning signs

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

BP Business Description

Industry Energy Oil & Gas

Comparable Companies LSE:CASP LSE:QED LSE:NOG LSE:SHEL SAU:2222 XOM CVX SHSE:601857 XPAR:TTE BSP:PETR3 OSL:EQNR HKSE:00386 MIL:ENI TSX:SU ADX:ADNOCGAS TSX:IMO TSX:CVE WAR:PKN BOM:500312 BKK:PTT

Other Exchanges BPAQF:USA BP:USA BPN:Mexico 0HKP:UK BP.B.PFD:UK BP.A.PFD:UK BP.:UK BPE5:Germany B1PP34:Brazil BPE5:Bulgaria BP:Argentina

Address 1 St James\'s Square, London, GBR, SW1Y 4PD

Website https://www.bp.com

BP is an integrated energy company that explores for, produces, and refines oil and gas around the world. In 2025, it produced 1.2 million barrels of liquids and 6.5 billion cubic feet of natural gas per day. At the end of 2025, proved hydrocarbon reserves stood at 6.2 billion barrels of oil equivalent, 56% of which are liquids. The company operates refineries with a total crude distillation capacity of 1.56 million barrels of oil per day.

66GF Score

Get the complete analysis for CHIX:BPL

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

£5.00

Price

£4.66

GF Value

View CHIX:BPL Analysis

See Beneish M-Score data for all stocks →