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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 -2.19 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Mueller Industries's Beneish M-Score or its related term are showing as below:
MEX:MLI'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.3 Med: -2.62 Max: -1.4
Current: -2.19
During the past 13 years, the highest Beneish M-Score of Mueller Industries was -1.40. The lowest was -3.30. And the median was -2.62.
Mueller Industries Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Mueller 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.
MEX:MLI vs CMC, ESAB, GPGI: Beneish M-Score Comparison
For the Metal Fabrication subindustry, Mueller 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.
Mueller Industries Beneish M-Score vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Mueller Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mueller 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 Mueller 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 * 1.1526
+
0.528 * 0.9866
+
0.404 * 0.9643
+
0.892 * 1.0338
+
0.115 * 1.069
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8628
+
4.679 * 0.01093
-
0.327 * 1.0495
=
-2.26
* 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))
=
(1378.29 / (1378.29 + 10610.104))
/
(1212.165 / (1212.165 + 10058.214))
=
0.114969
/
0.107553
=
1.069
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
=
(15251.912 - 1067.662
-
13372.297)
/
74285.069
=
0.01093
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.
Mueller Industries has a M-score of -2.26 suggests that the company is unlikely to be a manipulator.
Mueller Industries (MEX:MLI) has a Beneish M-Score of -2.19 as of Jul. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mueller Industries and its competitors. According to the industry distribution chart, Mueller Industries ranks #2015 out of 2909 companies in the Industrial Products industry, placing it in the top 69.3%.
Is Mueller Industries' Beneish M-Score too high?
Mueller Industries' current Beneish M-Score is -2.19. Based on the distribution chart, Mueller Industries ranks #2015 out of 2909 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Mueller Industries has a GF Score™ of 91/100, reflecting its overall financial health beyond just this single metric.
How does Mueller Industries' Beneish M-Score compare to CMC and ESAB?
According to the Industrial Products industry distribution chart, Mueller Industries ranks #2015 out of 2909 companies for Beneish M-Score. This places Mueller Industries 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Mueller Industries and its competitors. Mueller Industries's current Beneish M-Score is -2.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mueller Industries stock overvalued right now?
Mueller Industries (MEX:MLI) has a current Beneish M-Score of -2.19. The stock's GF Value™ is MXN718.08, compared to a current price of MXN1,175.00 — trading 63.6% above its estimated fair value. The current Beneish M-Score is -2.19. Mueller Industries' overall GF Score™ is 91/100 with 3 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 Mueller Industries (MEX:MLI), the current Beneish M-Score is -2.19 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 Mueller Industries (MEX:MLI) Overvalued in 2026?
Based on GuruFocus' analysis, Mueller Industries stock appears to be overvalued.
The current stock price of MXN1,175.00 is trading 63.6% above its estimated GF Value™ of MXN718.08.
Key valuation signals for MEX:MLI:
Beneish M-Score: -2.19
GF Value™: MXN718.08 vs. price of MXN1,175.00 (63.6% above fair value)
No single metric tells the full story. See the MEX:MLI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mueller Industries Inc makes copper, brass, aluminum, and plastic products. The company reports three business segments: piping systems, industrial metals, and climate. Piping systems, earning majority of the company's revenue, produces tubes, fittings, rods, valves, and other products and operates various firms world-wide. The industrial metals segment manufactures impacts and micro-gauge, brass rod and copper bar products, and brass value-added products. The climate segment produces items used to create temperature-control goods, including valves, twisted tubes, coaxial heat exchangers, and others. Geographically, it operates in USA, UK, Canada, Asia and the Middle East and Mexico.
91GF 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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