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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 -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Fox Factory Holding's Beneish M-Score or its related term are showing as below:
FRA:FF0'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.94 Med: -2.31 Max: -1.29
Current: -2.55
During the past 13 years, the highest Beneish M-Score of Fox Factory Holding was -1.29. The lowest was -2.94. And the median was -2.31.
Fox Factory Holding Beneish M-Score Related Terms
Fox Factory Holding Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Fox Factory Holding'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.
FRA:FF0 vs HYLN, SMP, MLR: Beneish M-Score Comparison
For the Auto Parts subindustry, Fox Factory Holding'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.
Fox Factory Holding Beneish M-Score vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Fox Factory Holding's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Fox Factory Holding'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 Fox Factory Holding 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 * 1.1346
+
0.528 * 1.0225
+
0.404 * 0.7827
+
0.892 * 0.9697
+
0.115 * 0.8845
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0391
+
4.679 * -0.015605
-
0.327 * 1.1756
=
-2.61
* 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))
=
(79.865 / (79.865 + 319.026))
/
(77.788 / (77.788 + 265.853))
=
0.200218
/
0.226364
=
0.8845
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
=
(-256.227 - -271.814
-
38.018)
/
1437.454
=
-0.015605
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.
Fox Factory Holding has a M-score of -2.61 suggests that the company is unlikely to be a manipulator.
Fox Factory Holding (FRA:FF0) has a Beneish M-Score of -2.55 as of Jul. 15, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Fox Factory Holding and its competitors. According to the industry distribution chart, Fox Factory Holding ranks #634 out of 1274 companies in the Vehicles & Parts industry, placing it in the top 49.8%.
Is Fox Factory Holding's Beneish M-Score too high?
Fox Factory Holding's current Beneish M-Score is -2.55. Based on the distribution chart, Fox Factory Holding ranks #634 out of 1274 companies in the Vehicles & Parts industry, which is above the industry midpoint. Overall, Fox Factory Holding has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Fox Factory Holding's Beneish M-Score compare to HYLN and SMP?
According to the Vehicles & Parts industry distribution chart, Fox Factory Holding ranks #634 out of 1274 companies for Beneish M-Score. This puts Fox Factory Holding 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 Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Fox Factory Holding and its competitors. Fox Factory Holding's current Beneish M-Score is -2.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fox Factory Holding stock overvalued right now?
Based on GuruFocus' analysis, Fox Factory Holding (FRA:FF0) is currently considered Possible Value Trap. The stock's GF Value™ is €30.00, compared to a current price of €15.22 — trading 49.3% below its estimated fair value. The current Beneish M-Score is -2.55. Fox Factory Holding's overall GF Score™ is 66/100 with 9 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 Fox Factory Holding (FRA:FF0), the current Beneish M-Score is -2.55 as of Jul. 15, 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 Fox Factory Holding (FRA:FF0) Overvalued in 2026?
Based on GuruFocus' analysis, Fox Factory Holding stock appears to be undervalued.
The current stock price of €15.22 is trading 49.3% below its estimated GF Value™ of €30.00.
GuruFocus considers Fox Factory Holding to be Possible Value Trap.
Key valuation signals for FRA:FF0:
Beneish M-Score: -2.55
GF Value™: €30.00 vs. price of €15.22 (49.3% below fair value)
No single metric tells the full story. See the FRA:FF0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fox Factory Holding Corp is a designer, manufacturer, and marketer of performance-defining products and systems used predominantly on bikes, Side-by-Sides, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, motorcycles, and commercial trucks. Its business operates under the FOX, FOX RACING SHOX, and RACE FACE brands. Geographically, it derives a majority of revenue from North America and also has a presence in Asia, Europe, and the Rest of the World. The company operates in three segments: Powered Vehicles Group, Aftermarket Applications Group, and Specialty Sports Group, of which it derives maximum revenue from Specialty Sports Group segment.
66GF Score
Get the complete analysis for FRA:FF0
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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