Modern Plant Based FoodsMDRNF Beneish M-Score is -3.72 as of Jun. 24, 2026. The stock has 4 warning signs investors should review. Among 1,849 Consumer Packaged Goods companies, Modern Plant Based Foods ranks better than 94.65% 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 -3.72 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Modern Plant Based Foods's Beneish M-Score or its related term are showing as below:
MDRNF'
s Beneish M-Score Range Over the Past 10 Years
Min: -18.35 Med: -4.07 Max: 41.39
Current: -3.72
During the past 13 years, the highest Beneish M-Score of Modern Plant Based Foods was 41.39. The lowest was -18.35. And the median was -4.07.
Modern Plant Based Foods Beneish M-Score Related Terms
Modern Plant Based Foods Beneish M-Score Historical Data
* 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 Packaged Foods subindustry, Modern Plant Based Foods'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.
Modern Plant Based Foods Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Modern Plant Based Foods's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Modern Plant Based Foods's Beneish M-Score falls into.
Modern Plant Based Foods 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 Modern Plant Based Foods 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 * 0.7187
+
0.528 * 0.9785
+
0.404 * 1.0301
+
0.892 * 1.0023
+
0.115 * 1.1172
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.4761
+
4.679 * -0.205128
-
0.327 * 1.2453
=
-3.67
* 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))
=
(0.013 / (0.013 + 0.003))
/
(0.008 / (0.008 + 0.003))
=
0.8125
/
0.727273
=
1.1172
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
=
(-0.408 - 0.044
-
-0.292)
/
0.78
=
-0.205128
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.
Modern Plant Based Foods has a M-score of -3.67 suggests that the company is unlikely to be a manipulator.
Modern Plant Based Foods (MDRNF) has a Beneish M-Score of -3.72 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Modern Plant Based Foods and its competitors. According to the industry distribution chart, Modern Plant Based Foods ranks #99 out of 1849 companies in the Consumer Packaged Goods industry, placing it in the top 5.4%.
Is Modern Plant Based Foods' Beneish M-Score too high?
Modern Plant Based Foods' current Beneish M-Score is -3.72. Based on the distribution chart, Modern Plant Based Foods ranks #99 out of 1849 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers.
How does Modern Plant Based Foods' Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Modern Plant Based Foods ranks #99 out of 1849 companies for Beneish M-Score. This places Modern Plant Based Foods in the top 5% 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Modern Plant Based Foods and its competitors. Modern Plant Based Foods'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 Modern Plant Based Foods stock overvalued right now?
Based on GuruFocus' analysis, Modern Plant Based Foods (MDRNF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.08, compared to a current price of $0.05 — trading 34.8% below its estimated fair value. The current Beneish M-Score is -3.72. 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 Modern Plant Based Foods (MDRNF), the current Beneish M-Score is -3.72 as of Jun. 24, 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.
Modern Plant Based Foods Inc is a Canadian food company engaged in developing and selling plant-based meat alternatives made from plants. It offers a portfolio of plant-based products including meat alternatives, dairy-free cheeses, homemade style soups and vegan snacks. The company's product lineup includes the modern burgers, modern crabcakes, modern meatballs, modern crumbles, and sauces. It offers its products through various retail locations in the British Columbia Lower Mainland, as well as on e-commerce platforms. The company's revenue consists of sales of plant-based and health food products to wholesale and retail customers. Geographically, it derives the maximum revenue from Canada.
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