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Bath & Body WorksMEX:BBWI 51 Beneish M-Score is -2.92 as of Jul. 31, 2026. GuruFocus rates MEX:BBWI with a GF Score™ of 51/100 and a GF Value™ of MXN591.40 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,085 Retail - Cyclical companies, Bath & Body Works ranks better than 74.1% 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 -2.92 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Bath & Body Works's Beneish M-Score or its related term are showing as below:
MEX:BBWI'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.22 Med: -2.72 Max: -1.1
Current: -2.92
During the past 13 years, the highest Beneish M-Score of Bath & Body Works was -1.10. The lowest was -3.22. And the median was -2.72.
The historical data trend for Bath & Body Works'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.
MEX:BBWI vs MNSO, RH, ASO: Beneish M-Score Comparison
For the Specialty Retail subindustry, Bath & Body Works'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.
Bath & Body Works Beneish M-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Bath & Body Works's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Bath & Body Works'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 Bath & Body Works 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 * 0.955
+
0.528 * 1.0347
+
0.404 * 0.9875
+
0.892 * 0.8908
+
0.115 * 1.0607
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0202
+
4.679 * -0.090026
-
0.327 * 0.9526
=
-3.01
* 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))
=
(5421.099 / (5421.099 + 40769.703))
/
(4532.926 / (4532.926 + 36433.488))
=
0.117363
/
0.11065
=
1.0607
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
=
(12828.303 - 489.756
-
20164.713)
/
86932.404
=
-0.090026
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.
Bath & Body Works has a M-score of -3.01 suggests that the company is unlikely to be a manipulator.
Bath & Body Works (MEX:BBWI) has a Beneish M-Score of -2.92 as of Jul. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bath & Body Works and its competitors. According to the industry distribution chart, Bath & Body Works ranks #281 out of 1085 companies in the Retail - Cyclical industry, placing it in the top 25.9%.
Is Bath & Body Works' Beneish M-Score too high?
Bath & Body Works' current Beneish M-Score is -2.92. Based on the distribution chart, Bath & Body Works ranks #281 out of 1085 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Bath & Body Works has a GF Score™ of 51/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bath & Body Works' Beneish M-Score compare to MNSO and RH?
According to the Retail - Cyclical industry distribution chart, Bath & Body Works ranks #281 out of 1085 companies for Beneish M-Score. This puts Bath & Body Works 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 a Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 Bath & Body Works and its competitors. Bath & Body Works's current Beneish M-Score is -2.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bath & Body Works stock overvalued right now?
Based on GuruFocus' analysis, Bath & Body Works (MEX:BBWI) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN591.40, compared to a current price of MXN345.00 — trading 41.7% below its estimated fair value. The current Beneish M-Score is -2.92. Bath & Body Works' overall GF Score™ is 51/100 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 Bath & Body Works (MEX:BBWI), the current Beneish M-Score is -2.92 as of Jul. 31, 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 Bath & Body Works (MEX:BBWI) Overvalued in 2026?
Based on GuruFocus' analysis, Bath & Body Works stock appears to be undervalued.
The current stock price of MXN345.00 is trading 41.7% below its estimated GF Value™ of MXN591.40.
GuruFocus considers Bath & Body Works to be Significantly Undervalued.
Key valuation signals for MEX:BBWI:
Beneish M-Score: -2.92
GF Value™: MXN591.40 vs. price of MXN345.00 (41.7% below fair value)
No single metric tells the full story. See the MEX:BBWI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bath & Body Works is a specialty home fragrance and fragrant body care retailer operating under the Bath & Body Works, C.O. Bigelow, and White Barn brands. The company generates most of its business in North America, with just 4% of sales from international markets in fiscal 2025. For fiscal 2025, 77% of sales stemmed from the brick-and-mortar network of more than 1,900 retail stores, similar to 2024 levels, as consumer shopping patterns remained normal. Future growth is expected from store upgrades, digital and international channels, as well as adjacent category expansions like men's and lip.
51GF Score
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