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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 -2.24 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Kaiser Aluminum's Beneish M-Score or its related term are showing as below:
KALU'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.66 Max: -0.44
Current: -2.24
During the past 13 years, the highest Beneish M-Score of Kaiser Aluminum was -0.44. The lowest was -3.52. And the median was -2.66.
The historical data trend for Kaiser Aluminum'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.
KALU vs CSTM, CENX, AA: Beneish M-Score Comparison
For the Aluminum subindustry, Kaiser Aluminum'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.
Kaiser Aluminum Beneish M-Score vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Kaiser Aluminum's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kaiser Aluminum'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 Kaiser Aluminum 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 * 1.0008
+
0.528 * 0.8224
+
0.404 * 0.9157
+
0.892 * 1.3283
+
0.115 * 0.9206
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.855
+
4.679 * 0.009451
-
0.327 * 0.9637
=
-2.24
* 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))
=
(118.2 / (118.2 + 1229.4))
/
(122.9 / (122.9 + 1167))
=
0.087711
/
0.095279
=
0.9206
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
=
(227 - 13.6
-
185.9)
/
2909.6
=
0.009451
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.
Kaiser Aluminum has a M-score of -2.24 suggests that the company is unlikely to be a manipulator.
Kaiser Aluminum (KALU) has a Beneish M-Score of -2.24 as of Aug. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Kaiser Aluminum and its competitors. According to the industry distribution chart, Kaiser Aluminum ranks #344 out of 683 companies in the Metals & Mining industry, placing it in the top 50.4%.
Is Kaiser Aluminum's Beneish M-Score too high?
Kaiser Aluminum's current Beneish M-Score is -2.24. Based on the distribution chart, Kaiser Aluminum ranks #344 out of 683 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Kaiser Aluminum has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kaiser Aluminum's Beneish M-Score compare to CSTM and CENX?
According to the Metals & Mining industry distribution chart, Kaiser Aluminum ranks #344 out of 683 companies for Beneish M-Score. This places Kaiser Aluminum 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 Metals & Mining company?
A good Beneish M-Score depends on the Metals & Mining 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 Kaiser Aluminum and its competitors. Kaiser Aluminum's current Beneish M-Score is -2.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kaiser Aluminum stock overvalued right now?
Based on GuruFocus' analysis, Kaiser Aluminum (KALU) is currently considered Significantly Overvalued. The stock's GF Value™ is $103.20, compared to a current price of $149.86 — trading 45.2% above its estimated fair value. The current Beneish M-Score is -2.24. Kaiser Aluminum's overall GF Score™ is 70/100 with 2 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 Kaiser Aluminum (KALU), the current Beneish M-Score is -2.24 as of Aug. 20, 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 Kaiser Aluminum (KALU) Overvalued in 2026?
Based on GuruFocus' analysis, Kaiser Aluminum stock appears to be overvalued.
The current stock price of $149.86 is trading 45.2% above its estimated GF Value™ of $103.20.
GuruFocus considers Kaiser Aluminum to be Significantly Overvalued.
Key valuation signals for KALU:
Beneish M-Score: -2.24
GF Value™: $103.20 vs. price of $149.86 (45.2% above fair value)
No single metric tells the full story. See the KALU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kaiser Aluminum Corp specializes in the production of semi-fabricated specialty aluminum mill products, such as aluminum plate and sheet, bare and coated coil and extruded and drawn products, for the end market applications: Aero/HS Products; Packaging; GE Products; and Automotive Extrusions. Its products include fabricated aluminum mill products such as flat-rolled (plate, sheet, and coil), extruded (rod, bar, hollows, and shapes), drawn (rod, bar, pipe, tube and wire) and certain cast aluminum products. Geographically, the company generates majority of its revenue from the United States.
70GF Score
Get the complete analysis for KALU
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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