LyondellBasell Industries NV (MEX:LYBN) Beneish M-Score: -2.83 (As of Jun. 27, 2026)

What is LyondellBasell Industries NV Beneish M-Score?

LyondellBasell Industries NV MEX:LYBN 64 Beneish M-Score is -2.83 as of Jun. 27, 2026. GuruFocus rates MEX:LYBN with a GF Score™ of 64/100 and a GF Value™ of MXN1,326.51 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 1,530 Chemicals companies, LyondellBasell Industries NV ranks better than 76.93% 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 -2.83 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for LyondellBasell Industries NV's Beneish M-Score or its related term are showing as below:

MEX:LYBN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.25 Med: -2.67 Max: -1.72
Current: -2.83

During the past 13 years, the highest Beneish M-Score of LyondellBasell Industries NV was -1.72. The lowest was -3.25. And the median was -2.67.

LyondellBasell Industries NV Beneish M-Score Related Terms

LyondellBasell Industries NV Beneish M-Score Historical Data

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The historical data trend for LyondellBasell Industries NV'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.

LyondellBasell Industries NV Beneish M-Score Chart

LyondellBasell Industries NV Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.51

-2.68

-2.87

-2.76

-2.69

LyondellBasell Industries NV Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.65	-2.57	-2.62	-2.69	-2.83

MEX:LYBN vs ALB, DD, IFF: Beneish M-Score Comparison

For the Specialty Chemicals subindustry, LyondellBasell Industries 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.

LyondellBasell Industries NV Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, LyondellBasell Industries NV's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where LyondellBasell Industries NV's Beneish M-Score falls into.

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64GF Score

LyondellBasell Industries NV MEX:LYBN

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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LyondellBasell Industries NV 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 LyondellBasell Industries NV for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9032

0.528 * 1.3366

0.404 * 0.8508

0.892 * 0.8382

0.115 * 1.0217

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1

4.679 * -0.0648

0.327 * 1.1189

-2.95

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was MXN58,733 Mil.
Revenue was 129781.342 + 127678.419 + 141745.633 + 144194.014 = MXN543,399 Mil.
Gross Profit was 12640.923 + 6031.91 + 16619.845 + 14818.58 = MXN50,111 Mil.
Total Current Assets was MXN199,388 Mil.
Total Assets was MXN612,354 Mil.
Property, Plant and Equipment(Net PPE) was MXN310,379 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN25,771 Mil.
Selling, General, & Admin. Expense(SGA) was MXN29,674 Mil.
Total Current Liabilities was MXN129,619 Mil.
Long-Term Debt & Capital Lease Obligation was MXN226,473 Mil.
Net Income was 2218.022 + -2556.809 + -16363.026 + 2146.529 = MXN-14,555 Mil.
Non Operating Income was -180.327 + 648.205 + -22343.236 + 75.317 = MXN-21,800 Mil.
Cash Flow from Operations was -4850.796 + 27134.59 + 18032.349 + 6609.049 = MXN46,925 Mil.

Total Receivables was MXN77,577 Mil.
Revenue was 157057.602 + 162841.305 + 169415.341 + 158981.854 = MXN648,296 Mil.
Gross Profit was 11231.552 + 16788.838 + 25617.08 + 26271.028 = MXN79,908 Mil.
Total Current Assets was MXN233,244 Mil.
Total Assets was MXN719,904 Mil.
Property, Plant and Equipment(Net PPE) was MXN344,905 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN29,313 Mil.
Selling, General, & Admin. Expense(SGA) was MXN32,183 Mil.
Total Current Liabilities was MXN127,659 Mil.
Long-Term Debt & Capital Lease Obligation was MXN246,501 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(58732.504 / 543399.408)	/	(77577.494 / 648296.102)
	=	0.108083	/	0.119664
	=	0.9032

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(79908.498 / 648296.102)	/	(50111.258 / 543399.408)
	=	0.123259	/	0.092218
	=	1.3366

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (199387.564 + 310378.833) / 612354.427)	/	(1 - (233243.938 + 344904.794) / 719903.6)
	=	0.16753	/	0.196908
	=	0.8508

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

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.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	543399.408	/	648296.102
	=	0.8382

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

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))
	=	(29312.75 / (29312.75 + 344904.794))	/	(25771.142 / (25771.142 + 310378.833))
	=	0.078331	/	0.076666
	=	1.0217

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

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(29674.292 / 543399.408)	/	(32183.077 / 648296.102)
	=	0.054609	/	0.049643
	=	1.1

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((226472.679 + 129619.048) / 612354.427)	/	((246500.852 + 127659.168) / 719903.6)
	=	0.581512	/	0.519736
	=	1.1189

8. TATA = Total Accruals to Total Assets

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
	=	(-14555.284 - -21800.041	-	46925.192)	/	612354.427
	=	-0.0648

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.

LyondellBasell Industries NV has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.83 mean?

LyondellBasell Industries NV (MEX:LYBN) has a Beneish M-Score of -2.83 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on LyondellBasell Industries NV and its competitors. According to the industry distribution chart, LyondellBasell Industries NV ranks #353 out of 1530 companies in the Chemicals industry, placing it in the top 23.1%.

Is LyondellBasell Industries NV's Beneish M-Score too high?

LyondellBasell Industries NV's current Beneish M-Score is -2.83. Based on the distribution chart, LyondellBasell Industries NV ranks #353 out of 1530 companies in the Chemicals industry, which is in the top quartile — a strong position relative to peers. Overall, LyondellBasell Industries NV has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does LyondellBasell Industries NV's Beneish M-Score compare to ALB and DD?

According to the Chemicals industry distribution chart, LyondellBasell Industries NV ranks #353 out of 1530 companies for Beneish M-Score. This places LyondellBasell Industries NV in the top 23% 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 Chemicals company?

A good Beneish M-Score depends on the Chemicals 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 LyondellBasell Industries NV and its competitors. LyondellBasell Industries NV's current Beneish M-Score is -2.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is LyondellBasell Industries NV stock overvalued right now?

Based on GuruFocus' analysis, LyondellBasell Industries NV (MEX:LYBN) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN1,326.51, compared to a current price of MXN1,034.37 — trading 22% below its estimated fair value. The current Beneish M-Score is -2.83. LyondellBasell Industries NV's overall GF Score™ is 64/100 with 7 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 LyondellBasell Industries NV (MEX:LYBN), the current Beneish M-Score is -2.83 as of Jun. 27, 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 LyondellBasell Industries NV (MEX:LYBN) Overvalued in 2026?

Based on GuruFocus' analysis, LyondellBasell Industries NV stock appears to be undervalued. The current stock price of MXN1,034.37 is trading 22% below its estimated GF Value™ of MXN1,326.51. GuruFocus considers LyondellBasell Industries NV to be Modestly Undervalued.

Key valuation signals for MEX:LYBN:

Beneish M-Score: -2.83
GF Value™: MXN1,326.51 vs. price of MXN1,034.37 (22% below fair value)
GF Score™: 64/100 with 7 warning signs

No single metric tells the full story. See the MEX:LYBN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

LyondellBasell Industries NV Business Description

Industry Basic Materials Chemicals

Comparable Companies ALB DD IFF PPG RPM SOLS WLK ESI EMN NEU LIN XPAR:AI SHW ECL APD XSWX:GIVN SHSE:600309 XSWX:SIKA SZSE:002466 OCSE:NSIS B

Other Exchanges LYB:USA 1LYB:Italy 0EDD:UK DLY:Germany L1YB34:Brazil

Address One Vine Street, 4th Floor, London, GBR, W1J0AH

Website https://www.lyondellbasell.com

LyondellBasell is a petrochemical producer with operations in the United States, Europe, and Asia. The company is the world's largest producer of polypropylene and also a major producer of polyethylene and propylene oxide. Its chemicals are used in various consumer and industrial end products. Well over half of LyondellBasell's production comes from its North American operations.

64GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN1,034.37

Price

MXN1,326.51

GF Value

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