H2O AmericaHTO +2.83%73 Beneish M-Score is -2.60 as of Jun. 25, 2026. GuruFocus rates HTO with a GF Score™ of 73/100 and a GF Value™ of $57.40 (Fairly Valued). The stock has 9 warning signs investors should review. Among 485 Utilities - Regulated companies, H2O America ranks better than 50.93% 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 -2.6 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for H2O America's Beneish M-Score or its related term are showing as below:
HTO'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.79 Med: -2.6 Max: -0.98
Current: -2.6
During the past 13 years, the highest Beneish M-Score of H2O America was -0.98. The lowest was -2.79. And the median was -2.60.
H2O America Beneish M-Score Related Terms
H2O America Beneish M-Score Historical Data
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The historical data trend for H2O America'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.
For the Utilities - Regulated Water subindustry, H2O America'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.
H2O America Beneish M-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, H2O America's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where H2O America'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 H2O America 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 * 0.9689
+
0.528 * 0.9992
+
0.404 * 0.9226
+
0.892 * 1.0647
+
0.115 * 1.0474
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.1156
+
4.679 * -0.028336
-
0.327 * 0.9
=
-2.60
* 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))
=
(115.757 / (115.757 + 3496.645))
/
(124.625 / (124.625 + 3948.963))
=
0.032044
/
0.030593
=
1.0474
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
=
(105.04 - 11.401
-
245.328)
/
5353.304
=
-0.028336
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.
H2O America has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
H2O America (HTO) has a Beneish M-Score of -2.60 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on H2O America and its competitors. According to the industry distribution chart, H2O America ranks #238 out of 485 companies in the Utilities - Regulated industry, placing it in the top 49.1%.
Is H2O America's Beneish M-Score too high?
H2O America's current Beneish M-Score is -2.60. Based on the distribution chart, H2O America ranks #238 out of 485 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, H2O America has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does H2O America's Beneish M-Score compare to CWT and AWR?
According to the Utilities - Regulated industry distribution chart, H2O America ranks #238 out of 485 companies for Beneish M-Score. This puts H2O America 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 an Utilities - Regulated company?
A good Beneish M-Score depends on the Utilities - Regulated 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 H2O America and its competitors. H2O America's current Beneish M-Score is -2.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is H2O America stock overvalued right now?
Based on GuruFocus' analysis, H2O America (HTO) is currently considered Fairly Valued. The stock's GF Value™ is $57.40, compared to a current price of $59.16 — trading 3.1% above its estimated fair value. The current Beneish M-Score is -2.60. H2O America's overall GF Score™ is 73/100 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 H2O America (HTO), the current Beneish M-Score is -2.60 as of Jun. 25, 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 H2O America (HTO) Overvalued in 2026?
Based on GuruFocus' analysis, H2O America stock appears to be overvalued.
The current stock price of $59.16 is trading 3.1% above its estimated GF Value™ of $57.40.
GuruFocus considers H2O America to be Fairly Valued.
Key valuation signals for HTO:
Beneish M-Score: -2.60
GF Value™: $57.40 vs. price of $59.16 (3.1% above fair value)
No single metric tells the full story. See the HTO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
H2O America is a national investor-owned network of local water and wastewater utilities united by one purpose: delivering clean, high-quality water to the communities it calls home. Across approximately 407,000 water and wastewater service connections, the company invests in critical infrastructure to strengthen the water supply for generations to come. Its single reportable segment provides water utility and utility-related services to its customers.
73GF Score
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