Hub Group (FRA:HBG) Beneish M-Score: -2.49 (As of Jul. 04, 2026)

What is Hub Group Beneish M-Score?

Hub Group FRA:HBG +0.52% 78 Beneish M-Score is -2.49 as of Jul. 04, 2026. GuruFocus rates FRA:HBG with a GF Score™ of 78/100 and a GF Value™ of €30.81. The stock has 9 warning signs investors should review. Among 964 Transportation companies, Hub Group ranks worse than 58.61% 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 -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FRA:HBG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.16 Med: -2.59 Max: -2.03
Current: -2.49

During the past 13 years, the highest Beneish M-Score of Hub Group was -2.03. The lowest was -3.16. And the median was -2.59.

Hub Group Beneish M-Score Related Terms

Hub Group Beneish M-Score Historical Data

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The historical data trend for Hub 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.

Hub Group Beneish M-Score Chart

Hub Group Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.41

-2.24

-3.16

-2.50

-2.56

Hub 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															-2.70	-2.56	-2.57	-2.60	-2.49

FRA:HBG vs PBI, CYRX, FWRD: Beneish M-Score Comparison

For the Integrated Freight & Logistics subindustry, Hub 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.

Hub Group Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Hub Group's Beneish M-Score distribution charts can be found below:

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

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78GF Score

Hub Group Inc FRA:HBG

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Hub 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 Hub 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 * 1.0636

0.528 * 0.9367

0.404 * 1.0315

0.892 * 0.9254

0.115 * 1.0136

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.996

4.679 * -0.020338

0.327 * 0.8722

-2.56

This Year (Sep25) TTM:

Last Year (Sep24) TTM:

Total Receivables was €516 Mil.
Revenue was 796.191 + 785.197 + 846.575 + 929.702 = €3,358 Mil.
Gross Profit was 65.062 + 64.199 + 69.653 + 201.196 = €400 Mil.
Total Current Assets was €672 Mil.
Total Assets was €2,471 Mil.
Property, Plant and Equipment(Net PPE) was €849 Mil.
Depreciation, Depletion and Amortization(DDA) was €169 Mil.
Selling, General, & Admin. Expense(SGA) was €137 Mil.
Total Current Liabilities was €456 Mil.
Long-Term Debt & Capital Lease Obligation was €305 Mil.
Net Income was 24.328 + 21.889 + 24.833 + 23.275 = €94 Mil.
Non Operating Income was 1.091 + 0.518 + 0.333 + 0.028 = €2 Mil.
Cash Flow from Operations was 23.939 + 53.321 + 64.782 + 0.577 = €143 Mil.

Total Receivables was €524 Mil.
Revenue was 889.19 + 916.454 + 919.534 + 903.266 = €3,628 Mil.
Gross Profit was 64.478 + 73.977 + 70.374 + 196.19 = €405 Mil.
Total Current Assets was €726 Mil.
Total Assets was €2,553 Mil.
Property, Plant and Equipment(Net PPE) was €875 Mil.
Depreciation, Depletion and Amortization(DDA) was €177 Mil.
Selling, General, & Admin. Expense(SGA) was €149 Mil.
Total Current Liabilities was €557 Mil.
Long-Term Debt & Capital Lease Obligation was €344 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)
	=	(516.125 / 3357.665)	/	(524.414 / 3628.444)
	=	0.153715	/	0.144529
	=	1.0636

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)
	=	(405.019 / 3628.444)	/	(400.11 / 3357.665)
	=	0.111623	/	0.119163
	=	0.9367

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 - (671.66 + 849.05) / 2471.414)	/	(1 - (725.662 + 874.976) / 2552.646)
	=	0.38468	/	0.372949
	=	1.0315

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
	=	3357.665	/	3628.444
	=	0.9254

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))
	=	(177.118 / (177.118 + 874.976))	/	(169.108 / (169.108 + 849.05))
	=	0.168348	/	0.166092
	=	1.0136

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)
	=	(137.329 / 3357.665)	/	(148.997 / 3628.444)
	=	0.0409	/	0.041064
	=	0.996

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)
	=	((304.675 + 455.821) / 2471.414)	/	((343.812 + 556.74) / 2552.646)
	=	0.307717	/	0.352792
	=	0.8722

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
	=	(94.325 - 1.97	-	142.619)	/	2471.414
	=	-0.020338

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.

Hub Group has a M-score of -2.56 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 -2.49 mean?

Hub Group (FRA:HBG) has a Beneish M-Score of -2.49 as of Jul. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Hub Group and its competitors. According to the industry distribution chart, Hub Group ranks #565 out of 964 companies in the Transportation industry, placing it in the top 58.6%.

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

Hub Group's current Beneish M-Score is -2.49. Based on the distribution chart, Hub Group ranks #565 out of 964 companies in the Transportation industry, which is below the industry midpoint. Overall, Hub Group has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.

How does Hub Group's Beneish M-Score compare to PBI and CYRX?

According to the Transportation industry distribution chart, Hub Group ranks #565 out of 964 companies for Beneish M-Score. This places Hub 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 Transportation company?

A good Beneish M-Score depends on the Transportation 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 Hub Group and its competitors. Hub Group's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Hub Group stock overvalued right now?

Hub Group (FRA:HBG) has a current Beneish M-Score of -2.49. The stock's GF Value™ is €30.81, compared to a current price of €38.80 — trading 25.9% above its estimated fair value. The current Beneish M-Score is -2.49. Hub Group's overall GF Score™ is 78/100 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 Hub Group (FRA:HBG), the current Beneish M-Score is -2.49 as of Jul. 04, 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 Hub Group (FRA:HBG) Overvalued in 2026?

Based on GuruFocus' analysis, Hub Group stock appears to be overvalued. The current stock price of €38.80 is trading 25.9% above its estimated GF Value™ of €30.81.

Key valuation signals for FRA:HBG:

Beneish M-Score: -2.49
GF Value™: €30.81 vs. price of €38.80 (25.9% above fair value)
GF Score™: 78/100 with 9 warning signs

No single metric tells the full story. See the FRA:HBG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Hub Group Business Description

Industry Industrials Transportation

Comparable Companies PBI CYRX FWRD RLGT PAL SFWL CRGO NCEW JANL SLGB UPS FDX XTER:DHL OCSE:DSV XSWX:KNIN JBHT SZSE:002352 FDXF CHRW EXPD

Other Exchanges HUBG:USA

Address 2001 Hub Group Way, Oak Brook, IL, USA, 60523

Website https://www.hubgroup.com

Hub Group ranks among the largest providers of rail intermodal service. Approximately 60% of consolidated revenue comes from Hub's intermodal and transportation solutions division. ITS includes its flagship intermodal operations, which use the Class I rail carriers for the underlying line-haul movement of containers, as well as its dedicated truckload shipping unit. Hub's logistics segment includes its asset-light truck brokerage operations along with its outsourced transportation management, warehousing and fulfillment, and heavy-goods final mile delivery offerings. Hub often makes tuck-in acquisitions that expand its brokerage, last-mile, and dedicated offerings.

78GF Score

Get the complete analysis for FRA:HBG

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€38.80

Price

€30.81

GF Value

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