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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 -3.72 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Nabors Industries's Beneish M-Score or its related term are showing as below:
LTS:0A6M'
s Beneish M-Score Range Over the Past 10 Years
Min: -6.93 Med: -3.46 Max: 9.47
Current: -3.72
During the past 13 years, the highest Beneish M-Score of Nabors Industries was 9.47. The lowest was -6.93. And the median was -3.46.
The historical data trend for Nabors Industries'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.
LTS:0A6M vs BORR, SOC, AKTAF: Beneish M-Score Comparison
For the Oil & Gas Drilling subindustry, Nabors Industries'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.
Nabors Industries Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Nabors Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Nabors Industries'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 Nabors Industries 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 * 0.7785
+
0.528 * 1.0348
+
0.404 * 0.4607
+
0.892 * 1.0605
+
0.115 * 0.9693
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0106
+
4.679 * -0.194385
-
0.327 * 0.9393
=
-3.72
* 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))
=
(645.281 / (645.281 + 3063.033))
/
(636.27 / (636.27 + 2908.061))
=
0.174009
/
0.179518
=
0.9693
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
=
(247.05 - 403.92
-
702.302)
/
4419.945
=
-0.194385
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.
Nabors Industries has a M-score of -3.72 suggests that the company is unlikely to be a manipulator.
Nabors Industries (LTS:0A6M) has a Beneish M-Score of -3.72 as of Aug. 04, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nabors Industries and its competitors. According to the industry distribution chart, Nabors Industries ranks #71 out of 820 companies in the Oil & Gas industry, placing it in the top 8.7%.
Is Nabors Industries' Beneish M-Score too high?
Nabors Industries' current Beneish M-Score is -3.72. Based on the distribution chart, Nabors Industries ranks #71 out of 820 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Nabors Industries has a GF Score™ of 56/100, reflecting its overall financial health beyond just this single metric.
How does Nabors Industries' Beneish M-Score compare to BORR and SOC?
According to the Oil & Gas industry distribution chart, Nabors Industries ranks #71 out of 820 companies for Beneish M-Score. This places Nabors Industries in the top 9% 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 an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas 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 Nabors Industries and its competitors. Nabors Industries's current Beneish M-Score is -3.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nabors Industries stock overvalued right now?
Nabors Industries (LTS:0A6M) has a current Beneish M-Score of -3.72. The stock's GF Value™ is $50.44, compared to a current price of $81.92 — trading 62.4% above its estimated fair value. The current Beneish M-Score is -3.72. Nabors Industries' overall GF Score™ is 56/100 with 4 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 Nabors Industries (LTS:0A6M), the current Beneish M-Score is -3.72 as of Aug. 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 Nabors Industries (LTS:0A6M) Overvalued in 2026?
Based on GuruFocus' analysis, Nabors Industries stock appears to be overvalued.
The current stock price of $81.92 is trading 62.4% above its estimated GF Value™ of $50.44.
Key valuation signals for LTS:0A6M:
Beneish M-Score: -3.72
GF Value™: $50.44 vs. price of $81.92 (62.4% above fair value)
No single metric tells the full story. See the LTS:0A6M stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nabors Industries Ltd owns and operates land-based drilling rig fleets and is a provider of offshore platform rigs in the United States and international markets. It also provides performance tools, directional drilling services, tubular running services, and technologies. The company has four reportable segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The key revenue of the company is generated from International Drilling.
56GF Score
Get the complete analysis for LTS:0A6M
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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