EMCOR GroupEME +1.02%91 Beneish M-Score is -2.34 as of Jun. 24, 2026. GuruFocus rates EME with a GF Score™ of 91/100 and a GF Value™ of $559.38 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,704 Construction companies, EMCOR Group ranks worse than 60.56% 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 -2.34 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for EMCOR Group's Beneish M-Score or its related term are showing as below:
EME'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.07 Med: -2.47 Max: -2.17
Current: -2.34
During the past 13 years, the highest Beneish M-Score of EMCOR Group was -2.17. The lowest was -3.07. And the median was -2.47.
EMCOR Group Beneish M-Score Related Terms
EMCOR Group Beneish M-Score Historical Data
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The historical data trend for EMCOR 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.
For the Engineering & Construction subindustry, EMCOR 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.
EMCOR Group Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, EMCOR Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where EMCOR Group'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 EMCOR Group 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 * 1.0066
+
0.528 * 1.0014
+
0.404 * 0.8859
+
0.892 * 1.1831
+
0.115 * 0.9499
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0012
+
4.679 * -0.000164
-
0.327 * 0.9315
=
-2.34
* 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))
=
(146.037 / (146.037 + 587.685))
/
(197.049 / (197.049 + 743.342))
=
0.199036
/
0.209539
=
0.9499
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
=
(1337.624 - 145.033
-
1194.15)
/
9508.107
=
-0.000164
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.
EMCOR Group has a M-score of -2.34 suggests that the company is unlikely to be a manipulator.
EMCOR Group (EME) has a Beneish M-Score of -2.34 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on EMCOR Group and its competitors. According to the industry distribution chart, EMCOR Group ranks #1032 out of 1704 companies in the Construction industry, placing it in the top 60.6%.
Is EMCOR Group's Beneish M-Score too high?
EMCOR Group's current Beneish M-Score is -2.34. Based on the distribution chart, EMCOR Group ranks #1032 out of 1704 companies in the Construction industry, which is below the industry midpoint. Overall, EMCOR Group has a GF Score™ of 91/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does EMCOR Group's Beneish M-Score compare to MTZ and STRL?
According to the Construction industry distribution chart, EMCOR Group ranks #1032 out of 1704 companies for Beneish M-Score. This places EMCOR 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 Construction company?
A good Beneish M-Score depends on the Construction 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 EMCOR Group and its competitors. EMCOR Group's current Beneish M-Score is -2.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EMCOR Group stock overvalued right now?
Based on GuruFocus' analysis, EMCOR Group (EME) is currently considered Significantly Overvalued. The stock's GF Value™ is $559.38, compared to a current price of $847.17 — trading 51.4% above its estimated fair value. The current Beneish M-Score is -2.34. EMCOR Group's overall GF Score™ is 91/100 with 5 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 EMCOR Group (EME), the current Beneish M-Score is -2.34 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 EMCOR Group (EME) Overvalued in 2026?
Based on GuruFocus' analysis, EMCOR Group stock appears to be overvalued.
The current stock price of $847.17 is trading 51.4% above its estimated GF Value™ of $559.38.
GuruFocus considers EMCOR Group to be Significantly Overvalued.
Key valuation signals for EME:
Beneish M-Score: -2.34
GF Value™: $559.38 vs. price of $847.17 (51.4% above fair value)
No single metric tells the full story. See the EME stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
EMCOR Group Inc is a specialty contractor in the United States and a provider of electrical and mechanical construction and facilities services, building services, and industrial services. Its services are provided to a broad range of commercial, technology, manufacturing, industrial, healthcare, utility, and institutional customers through approximately 100 operating subsidiaries. The company's operating subsidiaries are organized into reportable segments: United States mechanical construction and facilities services, which derives key revenue; United States electrical construction and facilities services; United States building services; United States industrial services; and United Kingdom building services. Geographically, its key revenue is derived from the United States.
91GF Score
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