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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 -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Anheuser-Busch InBev/NV's Beneish M-Score or its related term are showing as below:
MEX:ANB'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.83 Med: -2.53 Max: -1.91
Current: -2.58
During the past 13 years, the highest Beneish M-Score of Anheuser-Busch InBev/NV was -1.91. The lowest was -2.83. And the median was -2.53.
* 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 Beverages - Brewers subindustry, Anheuser-Busch InBev/NV'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.
Anheuser-Busch InBev/NV Beneish M-Score vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Anheuser-Busch InBev/NV's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Anheuser-Busch InBev/NV'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 Anheuser-Busch InBev/NV 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 * 0.9636
+
0.528 * 0.9866
+
0.404 * 1.0047
+
0.892 * 1.0396
+
0.115 * 0.8815
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.995
+
4.679 * -0.040719
-
0.327 * 0.9702
=
-2.68
* 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))
=
(101457.613 / (101457.613 + 488692.003))
/
(103086.813 / (103086.813 + 425466.888))
=
0.171918
/
0.195036
=
0.8815
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
=
(124015.222 - 0
-
285759.181)
/
3972246.894
=
-0.040719
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.
Anheuser-Busch InBev/NV has a M-score of -2.68 suggests that the company is unlikely to be a manipulator.
Anheuser-Busch InBev/NV (MEX:ANB) has a Beneish M-Score of -2.58 as of Sep. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Anheuser-Busch InBev/NV and its competitors. According to the industry distribution chart, Anheuser-Busch InBev/NV ranks #105 out of 200 companies in the Beverages - Alcoholic industry, placing it in the top 52.5%.
Is Anheuser-Busch InBev/NV's Beneish M-Score too high?
Anheuser-Busch InBev/NV's current Beneish M-Score is -2.58. Based on the distribution chart, Anheuser-Busch InBev/NV ranks #105 out of 200 companies in the Beverages - Alcoholic industry, which is below the industry midpoint. Overall, Anheuser-Busch InBev/NV has a GF Score™ of 74/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Anheuser-Busch InBev/NV's Beneish M-Score compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Anheuser-Busch InBev/NV ranks #105 out of 200 companies for Beneish M-Score. This places Anheuser-Busch InBev/NV 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 Beverages - Alcoholic company?
A good Beneish M-Score depends on the Beverages - Alcoholic 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 Anheuser-Busch InBev/NV and its competitors. Anheuser-Busch InBev/NV's current Beneish M-Score is -2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Anheuser-Busch InBev/NV stock overvalued right now?
Based on GuruFocus' analysis, Anheuser-Busch InBev/NV (MEX:ANB) is currently considered Fairly Valued. The stock's GF Value™ is MXN1,312.86, compared to a current price of MXN1,310.00 — trading 0.2% below its estimated fair value. The current Beneish M-Score is -2.58. Anheuser-Busch InBev/NV's overall GF Score™ is 74/100 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 Anheuser-Busch InBev/NV (MEX:ANB), the current Beneish M-Score is -2.58 as of Sep. 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 Anheuser-Busch InBev/NV (MEX:ANB) Overvalued in 2026?
Based on GuruFocus' analysis, Anheuser-Busch InBev/NV stock appears to be undervalued.
The current stock price of MXN1,310.00 is trading 0.2% below its estimated GF Value™ of MXN1,312.86.
GuruFocus considers Anheuser-Busch InBev/NV to be Fairly Valued.
Key valuation signals for MEX:ANB:
Beneish M-Score: -2.58
GF Value™: MXN1,312.86 vs. price of MXN1,310.00 (0.2% below fair value)
No single metric tells the full story. See the MEX:ANB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Anheuser-Busch InBev is the largest brewer in the world and one of the world's top five consumer product companies, as measured by EBITDA. The company's portfolio contains six of the top 10 beer brands by volume, and we estimate it distributes 23 brands with retail sales over $1 billion. AB InBev was created by the 2008 merger of Belgium-based InBev and US-based Anheuser-Busch. The firm holds a 62% economic interest in Ambev, an 87% stake in Budweiser APAC, and in 2016 acquired SABMiller.
74GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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