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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 -3.28 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ferrellgas Partners LP's Beneish M-Score or its related term are showing as below:
FGPR'
s Beneish M-Score Range Over the Past 10 Years
Min: -4.2 Med: -2.99 Max: -2.28
Current: -3.28
During the past 13 years, the highest Beneish M-Score of Ferrellgas Partners LP was -2.28. The lowest was -4.20. And the median was -2.99.
Ferrellgas Partners LP Beneish M-Score Related Terms
Ferrellgas Partners LP Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Ferrellgas Partners LP'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.
FGPR vs SGU, CLNE, BDCO: Beneish M-Score Comparison
For the Oil & Gas Refining & Marketing subindustry, Ferrellgas Partners LP'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.
Ferrellgas Partners LP Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Ferrellgas Partners LP's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ferrellgas Partners LP'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 Ferrellgas Partners LP 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 * 1.0126
+
0.528 * 0.9563
+
0.404 * 1.0556
+
0.892 * 0.9636
+
0.115 * 0.9303
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.339
+
4.679 * -0.185667
-
0.327 * 1.0437
=
-3.28
* 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))
=
(97.298 / (97.298 + 650.79))
/
(104.742 / (104.742 + 644.469))
=
0.130062
/
0.139803
=
0.9303
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
=
(-103.731 - -1.666
-
170.467)
/
1467.85
=
-0.185667
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.
Ferrellgas Partners LP has a M-score of -3.28 suggests that the company is unlikely to be a manipulator.
Ferrellgas Partners LP (FGPR) has a Beneish M-Score of -3.28 as of Aug. 19, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ferrellgas Partners LP and its competitors. According to the industry distribution chart, Ferrellgas Partners LP ranks #136 out of 831 companies in the Oil & Gas industry, placing it in the top 16.4%.
Is Ferrellgas Partners LP's Beneish M-Score too high?
Ferrellgas Partners LP's current Beneish M-Score is -3.28. Based on the distribution chart, Ferrellgas Partners LP ranks #136 out of 831 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Ferrellgas Partners LP has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ferrellgas Partners LP's Beneish M-Score compare to SGU and CLNE?
According to the Oil & Gas industry distribution chart, Ferrellgas Partners LP ranks #136 out of 831 companies for Beneish M-Score. This places Ferrellgas Partners LP in the top 16% of its industry — outperforming the majority of peers. 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 Ferrellgas Partners LP and its competitors. Ferrellgas Partners LP's current Beneish M-Score is -3.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ferrellgas Partners LP stock overvalued right now?
Based on GuruFocus' analysis, Ferrellgas Partners LP (FGPR) is currently considered Significantly Overvalued. The stock's GF Value™ is $9.33, compared to a current price of $23.00 — trading 146.5% above its estimated fair value. The current Beneish M-Score is -3.28. Ferrellgas Partners LP's overall GF Score™ is 39/100 with 7 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 Ferrellgas Partners LP (FGPR), the current Beneish M-Score is -3.28 as of Aug. 19, 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 Ferrellgas Partners LP (FGPR) Overvalued in 2026?
Based on GuruFocus' analysis, Ferrellgas Partners LP stock appears to be overvalued.
The current stock price of $23.00 is trading 146.5% above its estimated GF Value™ of $9.33.
GuruFocus considers Ferrellgas Partners LP to be Significantly Overvalued.
Key valuation signals for FGPR:
Beneish M-Score: -3.28
GF Value™: $9.33 vs. price of $23.00 (146.5% above fair value)
No single metric tells the full story. See the FGPR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ferrellgas Partners LP distributes propane and related equipment to a wide mix of customers, including residential, commercial, agricultural, wholesale, and portable tank exchange segments. The company provides propane delivery and tank exchange services under several brands and sells related appliances, parts, and fittings. Ferrellgas operates all over the United States, the District of Columbia, and Puerto Rico, with sales concentrated in various regions across the United States. The majority of its revenue comes from the sales of Propane and other gas liquids to End Users and Resellers.
39GF Score
Get the complete analysis for FGPR
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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