COLFF (Colabor Group) Beneish M-Score: -2.39 (As of Jun. 26, 2026)

What is Colabor Group Beneish M-Score?

Colabor Group COLFF -99.90% Beneish M-Score is -2.39 as of Jun. 26, 2026. The stock has 7 warning signs investors should review. Among 293 Retail - Defensive companies, Colabor Group ranks worse than 68.26% 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 -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

COLFF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.21 Med: -2.96 Max: -2.39
Current: -2.39

During the past 13 years, the highest Beneish M-Score of Colabor Group was -2.39. The lowest was -4.21. And the median was -2.96.

Colabor Group Beneish M-Score Related Terms

Colabor Group Beneish M-Score Historical Data

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The historical data trend for Colabor 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.

Colabor Group Beneish M-Score Chart

Colabor Group Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-3.83

-2.52

-2.79

-2.86

-2.94

Colabor Group Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25
Beneish M-Score	Get a 7-Day Free Trial															-3.08	-2.94	-2.96	-2.46	-2.39

COLFF vs MCLE, AIXN, MTEX: Beneish M-Score Comparison

For the Food Distribution subindustry, Colabor 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.

Colabor Group Beneish M-Score vs Retail - Defensive Industry

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

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

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Colabor 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 Colabor 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 * 1.5001

0.528 * 1.1199

0.404 * 0.6573

0.892 * 1.0644

0.115 * 1.0285

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.016

4.679 * -0.050251

0.327 * 1.3666

-2.39

This Year (Sep25) TTM:

Last Year (Sep24) TTM:

Total Receivables was $60.3 Mil.
Revenue was 153.585 + 123.999 + 91.74 + 142.192 = $511.5 Mil.
Gross Profit was 24.775 + 19.938 + 14.716 + 26.116 = $85.5 Mil.
Total Current Assets was $110.6 Mil.
Total Assets was $254.0 Mil.
Property, Plant and Equipment(Net PPE) was $95.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $15.4 Mil.
Selling, General, & Admin. Expense(SGA) was $50.6 Mil.
Total Current Liabilities was $151.9 Mil.
Long-Term Debt & Capital Lease Obligation was $80.0 Mil.
Net Income was -53.795 + -1.666 + -2.802 + 0.393 = $-57.9 Mil.
Non Operating Income was -54.214 + -0.309 + 0 + 0 = $-54.5 Mil.
Cash Flow from Operations was -5.599 + 3.32 + 4.292 + 7.406 = $9.4 Mil.

Total Receivables was $37.8 Mil.
Revenue was 119.618 + 117.678 + 96.927 + 146.333 = $480.6 Mil.
Gross Profit was 22.195 + 21.88 + 18.158 + 27.77 = $90.0 Mil.
Total Current Assets was $79.5 Mil.
Total Assets was $245.3 Mil.
Property, Plant and Equipment(Net PPE) was $95.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $15.9 Mil.
Selling, General, & Admin. Expense(SGA) was $46.7 Mil.
Total Current Liabilities was $48.9 Mil.
Long-Term Debt & Capital Lease Obligation was $114.9 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)
	=	(60.333 / 511.516)	/	(37.785 / 480.556)
	=	0.117949	/	0.078628
	=	1.5001

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)
	=	(90.003 / 480.556)	/	(85.545 / 511.516)
	=	0.187289	/	0.167238
	=	1.1199

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 - (110.591 + 95.299) / 254.044)	/	(1 - (79.465 + 95.066) / 245.255)
	=	0.18955	/	0.288369
	=	0.6573

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
	=	511.516	/	480.556
	=	1.0644

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))
	=	(15.85 / (15.85 + 95.066))	/	(15.378 / (15.378 + 95.299))
	=	0.142901	/	0.138945
	=	1.0285

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)
	=	(50.55 / 511.516)	/	(46.742 / 480.556)
	=	0.098824	/	0.097266
	=	1.016

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)
	=	((79.998 + 151.871) / 254.044)	/	((114.888 + 48.906) / 245.255)
	=	0.912712	/	0.667852
	=	1.3666

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
	=	(-57.87 - -54.523	-	9.419)	/	254.044
	=	-0.050251

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.

Colabor Group has a M-score of -2.39 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 -2.39 mean?

Colabor Group (COLFF) has a Beneish M-Score of -2.39 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Colabor Group and its competitors. According to the industry distribution chart, Colabor Group ranks #200 out of 293 companies in the Retail - Defensive industry, placing it in the top 68.3%.

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

Colabor Group's current Beneish M-Score is -2.39. Based on the distribution chart, Colabor Group ranks #200 out of 293 companies in the Retail - Defensive industry, which is below the industry midpoint.

How does Colabor Group's Beneish M-Score compare to MCLE and AIXN?

According to the Retail - Defensive industry distribution chart, Colabor Group ranks #200 out of 293 companies for Beneish M-Score. This places Colabor Group 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 Retail - Defensive company?

A good Beneish M-Score depends on the Retail - Defensive 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 Colabor Group and its competitors. Colabor Group's current Beneish M-Score is -2.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Colabor Group stock overvalued right now?

Based on GuruFocus' analysis, Colabor Group (COLFF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.89, compared to a current price of $0.00 — trading 100% below its estimated fair value. The current Beneish M-Score is -2.39. 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 Colabor Group (COLFF), the current Beneish M-Score is -2.39 as of Jun. 26, 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.

Colabor Group Business Description

Industry Consumer Defensive Retail - Defensive

Comparable Companies MCLE AIXN MTEX SYY USFD XLIS:JMT PFGC HKSE:01768 LSE:BNZL JSE:BID BKK:CPAXT UNFI HAM:B4B ANDE SGX:VC2 CHEF ASX:MTS SZSE:000061 XKRX:026960 WAR:KER

Address 1601 Rene-Descartes, Suite 103, Saint-Bruno-de-Montarville, QC, CAN, J3V 0A6

Website https://www.colabor.com

Colabor Group Inc is a wholesaler and distributor of food and related products in Canada. The company operates in two segments Distribution and the Wholesale segment. Its Distribution segment operations include the distribution of food products and related products in hotels, restaurants, and institutions (HRI) and the retail market. Its products such as meat, fish, and seafood (Specialty Distribution), as well as general food-related products (Broadline Distribution), and the Wholesale segment's operations, include the sale of general food-related products to distributors from its distribution center in Boucherville. The company generates maximum revenue from the Distribution segment.