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Sleep NumberFRA:SL2 53 Beneish M-Score is -3.34 as of Jul. 16, 2026. GuruFocus rates FRA:SL2 with a GF Score™ of 53/100 and a GF Value™ of €46.31 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 417 Furnishings, Fixtures & Appliances companies, Sleep Number ranks better than 91.61% 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 -3.34 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Sleep Number's Beneish M-Score or its related term are showing as below:
FRA:SL2'
s Beneish M-Score Range Over the Past 10 Years
Min: -4 Med: -3.09 Max: -1
Current: -3.34
During the past 13 years, the highest Beneish M-Score of Sleep Number was -1.00. The lowest was -4.00. And the median was -3.09.
Sleep Number Beneish M-Score Related Terms
Sleep Number Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Sleep Number'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:SL2 vs LBRA, LUVU, SN: Beneish M-Score Comparison
For the Furnishings, Fixtures & Appliances subindustry, Sleep Number'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.
Sleep Number Beneish M-Score vs Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Sleep Number's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sleep Number'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 Sleep Number 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 * 1.1364
+
0.528 * 1.0367
+
0.404 * 0.8549
+
0.892 * 0.7725
+
0.115 * 0.9643
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0196
+
4.679 * -0.143888
-
0.327 * 1.3073
=
-3.38
* 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))
=
(59.079 / (59.079 + 430.368))
/
(45.678 / (45.678 + 319.246))
=
0.120706
/
0.125171
=
0.9643
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
=
(-149.061 - -62.076
-
-7.203)
/
554.472
=
-0.143888
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.
Sleep Number has a M-score of -3.38 suggests that the company is unlikely to be a manipulator.
Sleep Number (FRA:SL2) has a Beneish M-Score of -3.34 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sleep Number and its competitors. According to the industry distribution chart, Sleep Number ranks #35 out of 417 companies in the Furnishings, Fixtures & Appliances industry, placing it in the top 8.4%.
Is Sleep Number's Beneish M-Score too high?
Sleep Number's current Beneish M-Score is -3.34. Based on the distribution chart, Sleep Number ranks #35 out of 417 companies in the Furnishings, Fixtures & Appliances industry, which is in the top quartile — a strong position relative to peers. Overall, Sleep Number has a GF Score™ of 53/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Sleep Number's Beneish M-Score compare to LBRA and LUVU?
According to the Furnishings, Fixtures & Appliances industry distribution chart, Sleep Number ranks #35 out of 417 companies for Beneish M-Score. This places Sleep Number in the top 8% 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 a Furnishings, Fixtures & Appliances company?
A good Beneish M-Score depends on the Furnishings, Fixtures & Appliances 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 Sleep Number and its competitors. Sleep Number's current Beneish M-Score is -3.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sleep Number stock overvalued right now?
Based on GuruFocus' analysis, Sleep Number (FRA:SL2) is currently considered Possible Value Trap. The stock's GF Value™ is €46.31, compared to a current price of €0.13 — trading 99.7% below its estimated fair value. The current Beneish M-Score is -3.34. Sleep Number's overall GF Score™ is 53/100 with 8 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 Sleep Number (FRA:SL2), the current Beneish M-Score is -3.34 as of Jul. 16, 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 Sleep Number (FRA:SL2) Overvalued in 2026?
Based on GuruFocus' analysis, Sleep Number stock appears to be undervalued.
The current stock price of €0.13 is trading 99.7% below its estimated GF Value™ of €46.31.
GuruFocus considers Sleep Number to be Possible Value Trap.
Key valuation signals for FRA:SL2:
Beneish M-Score: -3.34
GF Value™: €46.31 vs. price of €0.13 (99.7% below fair value)
No single metric tells the full story. See the FRA:SL2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sleep Number Corp is a designer, manufacturer, marketer, and retailer, which allows it to offer consumers high-quality, individualized sleep solutions and services. It also offers FlextFit adjustable bases, and Sleep Number pillows, sheets, and other bedding products. The company generates revenue by marketing its innovations directly to new and existing customers and selling products through its Stores, Online, Phone, Chat (Total Retail), and Other. It focuses on personalized sleep wellness, with mattresses designed to evolve with each sleeper to help them feel and perform well, featuring adjustable firmness, pressure-relieving support, and temperature-balancing comfort built into every mattress. Its products include mattresses, bundles, bedding, pillows, and furniture.
53GF Score
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