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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 Coca-Cola Consolidated's Beneish M-Score or its related term are showing as below:
COKE'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.96 Med: -2.65 Max: -2.18
Current: -2.63
During the past 13 years, the highest Beneish M-Score of Coca-Cola Consolidated was -2.18. The lowest was -2.96. And the median was -2.65.
Coca-Cola Consolidated Beneish M-Score Related Terms
Coca-Cola Consolidated Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Coca-Cola Consolidated'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.
COKE vs PRMB, CELH, COCO: Beneish M-Score Comparison
For the Beverages - Non-Alcoholic subindustry, Coca-Cola Consolidated'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.
Coca-Cola Consolidated Beneish M-Score vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Coca-Cola Consolidated's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Coca-Cola Consolidated'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 Coca-Cola Consolidated 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 * 1.1023
+
0.528 * 1.0178
+
0.404 * 1.263
+
0.892 * 1.1071
+
0.115 * 0.9706
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9776
+
4.679 * -0.053682
-
0.327 * 1.64
=
-2.63
* 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))
=
(207.52 / (207.52 + 1661.911))
/
(225.445 / (225.445 + 1745.73))
=
0.111007
/
0.114371
=
0.9706
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
=
(549.961 - -158.423
-
946.33)
/
4432.475
=
-0.053682
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.
Coca-Cola Consolidated has a M-score of -2.63 suggests that the company is unlikely to be a manipulator.
Coca-Cola Consolidated (COKE) has a Beneish M-Score of -2.63 as of Aug. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Coca-Cola Consolidated and its competitors. According to the industry distribution chart, Coca-Cola Consolidated ranks #43 out of 110 companies in the Beverages - Non-Alcoholic industry, placing it in the top 39.1%.
Is Coca-Cola Consolidated's Beneish M-Score too high?
Coca-Cola Consolidated's current Beneish M-Score is -2.63. Based on the distribution chart, Coca-Cola Consolidated ranks #43 out of 110 companies in the Beverages - Non-Alcoholic industry, which is above the industry midpoint. Overall, Coca-Cola Consolidated has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Coca-Cola Consolidated's Beneish M-Score compare to PRMB and CELH?
According to the Beverages - Non-Alcoholic industry distribution chart, Coca-Cola Consolidated ranks #43 out of 110 companies for Beneish M-Score. This puts Coca-Cola Consolidated 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 Beverages - Non-Alcoholic company?
A good Beneish M-Score depends on the Beverages - Non-Alcoholic 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 Coca-Cola Consolidated and its competitors. Coca-Cola Consolidated'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 Coca-Cola Consolidated stock overvalued right now?
Based on GuruFocus' analysis, Coca-Cola Consolidated (COKE) is currently considered Fairly Valued. The stock's GF Value™ is $175.99, compared to a current price of $190.16 — trading 8.1% above its estimated fair value. The current Beneish M-Score is -2.63. Coca-Cola Consolidated's overall GF Score™ is 83/100. 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 Coca-Cola Consolidated (COKE), the current Beneish M-Score is -2.63 as of Aug. 14, 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 Coca-Cola Consolidated (COKE) Overvalued in 2026?
Based on GuruFocus' analysis, Coca-Cola Consolidated stock appears to be overvalued.
The current stock price of $190.16 is trading 8.1% above its estimated GF Value™ of $175.99.
GuruFocus considers Coca-Cola Consolidated to be Fairly Valued.
Key valuation signals for COKE:
Beneish M-Score: -2.63
GF Value™: $175.99 vs. price of $190.16 (8.1% above fair value)
No single metric tells the full story. See the COKE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Coca-Cola Consolidated Inc distributes, markets, and manufactures nonalcoholic beverages. It offers a range of nonalcoholic beverage products and flavors, including both sparkling and still beverages. Sparkling beverages are carbonated beverages, and the Company's principal sparkling beverage is Coca-Cola. Still beverages include energy products and non-carbonated beverages such as bottled water, ready-to-drink tea, ready-to-drink coffee, enhanced water, juices, and sports drinks. The Company has two operating segments: Nonalcoholic Beverages and All Other. Key revenue is generated from Nonalcoholic Beverages.
83GF Score
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