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 -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Stag Industrial's Beneish M-Score or its related term are showing as below:
MEX:STAG'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.72 Med: -2.49 Max: -2.34
Current: -2.55
During the past 13 years, the highest Beneish M-Score of Stag Industrial was -2.34. The lowest was -2.72. And the median was -2.49.
Stag Industrial Beneish M-Score Related Terms
Stag Industrial Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Stag Industrial'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:STAG vs TRNO, REXR, FR: Beneish M-Score Comparison
For the REIT - Industrial subindustry, Stag Industrial'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.
Stag Industrial Beneish M-Score vs REITs Industry
For the REITs industry and Real Estate sector, Stag Industrial's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Stag Industrial'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 Stag Industrial 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 * 0.989
+
0.528 * 0.9998
+
0.404 * 0.9979
+
0.892 * 1.0133
+
0.115 * 0.9972
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9626
+
4.679 * -0.040725
-
0.327 * 1.0188
=
-2.67
* 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))
=
(5839.466 / (5839.466 + 626.716))
/
(5562.632 / (5562.632 + 579.841))
=
0.903078
/
0.905601
=
0.9972
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
=
(4454.868 - 992.615
-
8737.777)
/
129539.091
=
-0.040725
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.
Stag Industrial has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.
Stag Industrial (MEX:STAG) has a Beneish M-Score of -2.55 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Stag Industrial and its competitors. According to the industry distribution chart, Stag Industrial ranks #340 out of 764 companies in the REITs industry, placing it in the top 44.5%.
Is Stag Industrial's Beneish M-Score too high?
Stag Industrial's current Beneish M-Score is -2.55. Based on the distribution chart, Stag Industrial ranks #340 out of 764 companies in the REITs industry, which is above the industry midpoint. Overall, Stag Industrial has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Stag Industrial's Beneish M-Score compare to TRNO and REXR?
According to the REITs industry distribution chart, Stag Industrial ranks #340 out of 764 companies for Beneish M-Score. This puts Stag Industrial 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 REITs company?
A good Beneish M-Score depends on the REITs 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 Stag Industrial and its competitors. Stag Industrial's current Beneish M-Score is -2.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Stag Industrial stock overvalued right now?
Stag Industrial (MEX:STAG) has a current Beneish M-Score of -2.55. The stock's GF Value™ is MXN728.89, compared to a current price of MXN698.00 — trading 4.2% below its estimated fair value. The current Beneish M-Score is -2.55. Stag Industrial's overall GF Score™ is 83/100 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 Stag Industrial (MEX:STAG), the current Beneish M-Score is -2.55 as of Jun. 26, 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 Stag Industrial (MEX:STAG) Overvalued in 2026?
Based on GuruFocus' analysis, Stag Industrial stock appears to be undervalued.
The current stock price of MXN698.00 is trading 4.2% below its estimated GF Value™ of MXN728.89.
Key valuation signals for MEX:STAG:
Beneish M-Score: -2.55
GF Value™: MXN728.89 vs. price of MXN698.00 (4.2% below fair value)
No single metric tells the full story. See the MEX:STAG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Stag Industrial Inc is a REIT focused on the acquisition, ownership, development, and operation of industrial properties throughout the United States. Its platform is designed to (i) identify properties for acquisition that offer attractive returns across CBRE-EA Tier 1 industrial real estate markets, industries, and tenants, (ii) provide growth through the ownership of high-quality assets, property management and pursuit of acquisitions in an attractive opportunity set, and (iii) capitalize its business appropriately given the characteristics of its assets. The majority of its portfolio is single-tenant industrial properties throughout the United States. The company derives the majority of its rental revenue from its facilities located in Midwestern and Eastern U.S. cities.
83GF Score
Get the complete analysis for MEX:STAG
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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