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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 -2.69 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ovintiv's Beneish M-Score or its related term are showing as below:
MEX:OVV'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.45 Med: -2.82 Max: -2.03
Current: -2.69
During the past 13 years, the highest Beneish M-Score of Ovintiv was -2.03. The lowest was -3.45. And the median was -2.82.
The historical data trend for Ovintiv'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:OVV vs PR, EXE, APA: Beneish M-Score Comparison
For the Oil & Gas E&P subindustry, Ovintiv'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.
Ovintiv Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Ovintiv's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ovintiv'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 Ovintiv 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 * 1.1779
+
0.528 * 0.9189
+
0.404 * 0.954
+
0.892 * 0.9517
+
0.115 * 0.9851
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0068
+
4.679 * -0.079979
-
0.327 * 0.8697
=
-2.76
* 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))
=
(44779.6 / (44779.6 + 270820.384))
/
(38767.003 / (38767.003 + 230379.147))
=
0.141887
/
0.144037
=
0.9851
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
=
(16344.477 - -36341.348
-
79592.227)
/
336416.72
=
-0.079979
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.
Ovintiv has a M-score of -2.76 suggests that the company is unlikely to be a manipulator.
Ovintiv (MEX:OVV) has a Beneish M-Score of -2.69 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ovintiv and its competitors. According to the industry distribution chart, Ovintiv ranks #389 out of 831 companies in the Oil & Gas industry, placing it in the top 46.8%.
Is Ovintiv's Beneish M-Score too high?
Ovintiv's current Beneish M-Score is -2.69. Based on the distribution chart, Ovintiv ranks #389 out of 831 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Ovintiv has a GF Score™ of 58/100, reflecting its overall financial health beyond just this single metric.
How does Ovintiv's Beneish M-Score compare to PR and EXE?
According to the Oil & Gas industry distribution chart, Ovintiv ranks #389 out of 831 companies for Beneish M-Score. This puts Ovintiv 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 an Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas 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 Ovintiv and its competitors. Ovintiv's current Beneish M-Score is -2.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ovintiv stock overvalued right now?
Ovintiv (MEX:OVV) has a current Beneish M-Score of -2.69. The stock's GF Value™ is MXN457.55, compared to a current price of MXN663.25 — trading 45% above its estimated fair value. The current Beneish M-Score is -2.69. Ovintiv's overall GF Score™ is 58/100 with 8 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 Ovintiv (MEX:OVV), the current Beneish M-Score is -2.69 as of Aug. 10, 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 Ovintiv (MEX:OVV) Overvalued in 2026?
Based on GuruFocus' analysis, Ovintiv stock appears to be overvalued.
The current stock price of MXN663.25 is trading 45% above its estimated GF Value™ of MXN457.55.
Key valuation signals for MEX:OVV:
Beneish M-Score: -2.69
GF Value™: MXN457.55 vs. price of MXN663.25 (45% above fair value)
No single metric tells the full story. See the MEX:OVV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ovintiv Inc is a North American oil and natural gas exploration and production company focused on developing its multi-basin portfolio of high-quality assets located in the United States and Canada. Its operations also include the marketing of oil, NGLs, and natural gas. The company has two operating segments: USA Operations and Canadian Operations. USA Operations include the exploration, development, production, and marketing of oil, NGLs, natural gas, and other related activities within the United States. Canadian Operations include the exploration, development, production, and marketing of oil, NGLs, natural gas, and other related activities within Canada. The company generates the majority of its revenue from USA Operations.
58GF Score
Get the complete analysis for MEX:OVV
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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