ESG (ESGH) Beneish M-Score: 0.36 (As of Jun. 26, 2026) — 84% Below Median


ESGH ESG Inc ESGH
8 GF Score
Price $1.79
! 6 Warning Signs
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What is ESG Beneish M-Score?

ESG ESGH 8 Beneish M-Score is 0.36 as of Jun. 26, 2026, which is 84% below its 10-year median of 2.24. GuruFocus rates ESGH with a GF Score™ of 8/100. The stock has 6 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, ESG ranks worse than 95.19% 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 0.36 higher than -1.78, which implies that the company might have manipulated its financial results.

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

ESGH' s Beneish M-Score Range Over the Past 10 Years
Min: -0.27   Med: 2.24   Max: 13.67
Current: 0.36

During the past 5 years, the highest Beneish M-Score of ESG was 13.67. The lowest was -0.27. And the median was 2.24.

ESG Beneish M-Score Historical Data

* Premium members only.

The historical data trend for ESG'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.

ESG Beneish M-Score Chart

ESG Annual Data
Trend Aug21 Aug22 Aug23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 0.00 -0.27

ESG Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.24 7.64 13.67 -0.27 0.36

ESGH vs LOCL, PFAI, MGNC: Beneish M-Score Comparison

For the Farm Products subindustry, ESG'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.

ESG Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, ESG's Beneish M-Score distribution charts can be found below:

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


ESGH
8GF Score
ESG Inc ESGH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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ESG 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 ESG 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 * 5.3461+0.528 * 3.2528+0.404 * 0.7246+0.892 * 0.3813+0.115 * 0.9052
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 6.7847+4.679 * -0.134534-0.327 * 1.1589
=0.36

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $5.63 Mil.
Revenue was 0 + 1.554 + 0.491 + 2.49 = $4.54 Mil.
Gross Profit was 0 + 0.286 + -0.932 + 1.082 = $0.44 Mil.
Total Current Assets was $6.80 Mil.
Total Assets was $26.77 Mil.
Property, Plant and Equipment(Net PPE) was $16.07 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.88 Mil.
Selling, General, & Admin. Expense(SGA) was $2.90 Mil.
Total Current Liabilities was $13.68 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.682 + -0.93 + -1.322 + 0.518 = $-2.42 Mil.
Non Operating Income was 0.026 + 0.024 + 0.094 + 0.024 = $0.17 Mil.
Cash Flow from Operations was -0.709 + -0.153 + 1.786 + 0.094 = $1.02 Mil.
 Total Receivables was $2.76 Mil.
Revenue was 1.587 + 5.56 + 2.235 + 2.51 = $11.89 Mil.
Gross Profit was 0.081 + 2.697 + 0.509 + 0.432 = $3.72 Mil.
Total Current Assets was $5.99 Mil.
Total Assets was $28.69 Mil.
Property, Plant and Equipment(Net PPE) was $16.94 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.77 Mil.
Selling, General, & Admin. Expense(SGA) was $1.12 Mil.
Total Current Liabilities was $12.65 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
=(5.633 / 4.535) / (2.763 / 11.892)
=1.242117 / 0.232341
=5.3461

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)
=(3.719 / 11.892) / (0.436 / 4.535)
=0.312731 / 0.096141
=3.2528

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 - (6.802 + 16.072) / 26.774) / (1 - (5.988 + 16.937) / 28.693)
=0.145664 / 0.201025
=0.7246

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
=4.535 / 11.892
=0.3813

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))
=(1.769 / (1.769 + 16.937)) / (1.875 / (1.875 + 16.072))
=0.094569 / 0.104474
=0.9052

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)
=(2.903 / 4.535) / (1.122 / 11.892)
=0.640132 / 0.094349
=6.7847

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)
=((0 + 13.675) / 26.774) / ((0 + 12.646) / 28.693)
=0.510757 / 0.440735
=1.1589

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
=(-2.416 - 0.168 - 1.018) / 26.774
=-0.134534

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.

ESG has a M-score of 0.36 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.36 mean?
ESG (ESGH) has a Beneish M-Score of 0.36 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ESG and its competitors. This is 84% below median its historical median of 2.24. According to the industry distribution chart, ESG ranks #1760 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 95.2%.
Is ESG's Beneish M-Score too high?
ESG's current Beneish M-Score of 0.36 is 84% below median its 10-year median of 2.24. Based on the distribution chart, ESG ranks #1760 out of 1849 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, ESG has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does ESG's Beneish M-Score compare to LOCL and PFAI?
According to the Consumer Packaged Goods industry distribution chart, ESG ranks #1760 out of 1849 companies for Beneish M-Score. This places ESG 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 ESG and its competitors. ESG's current Beneish M-Score is 0.36, which is 84% below median its own 10-year median of 2.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ESG stock overvalued right now?
ESG (ESGH) has a current Beneish M-Score of 0.36. The current Beneish M-Score is 0.36, which is 84% below median its 10-year median of 2.24. ESG's overall GF Score™ is 8/100 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 ESG (ESGH), the current Beneish M-Score is 0.36 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.

ESG Business Description

Address 433 East Hillendale Road, Chadds Ford, PA, USA, 19317
ESG Inc develops and operates sustainable plant-based ingredients and food production and distribution with the planned expansion into the food related business, including experience and relationships in the industry of mushroom, agriculture and food in the world and the capital markets in the States. The company has three operating segments, white button mushroom, compost III and mushroom seasonings.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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