Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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 -2.49 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Stantec's Beneish M-Score or its related term are showing as below:
MEX:STNN'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.11 Med: -2.51 Max: -2.09
Current: -2.49
During the past 13 years, the highest Beneish M-Score of Stantec was -2.09. The lowest was -3.11. And the median was -2.51.
The historical data trend for Stantec'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:STNN vs PWR, FIX, EME: Beneish M-Score Comparison
For the Engineering & Construction subindustry, Stantec'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.
Stantec Beneish M-Score vs Construction Industry
For the Construction industry and Industrials sector, Stantec's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Stantec'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 Stantec 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 * 1.0479
+
0.528 * 0.9936
+
0.404 * 1.017
+
0.892 * 0.9971
+
0.115 * 0.9773
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9755
+
4.679 * -0.030903
-
0.327 * 1.0454
=
-2.59
* 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))
=
(4539.751 / (4539.751 + 10157.133))
/
(4955.336 / (4955.336 + 10722.544))
=
0.308892
/
0.316072
=
0.9773
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
=
(6539.67 - -21.347
-
9709.519)
/
101882.814
=
-0.030903
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.
Stantec has a M-score of -2.59 suggests that the company is unlikely to be a manipulator.
Stantec (MEX:STNN) has a Beneish M-Score of -2.49 as of Aug. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Stantec and its competitors. According to the industry distribution chart, Stantec ranks #827 out of 1707 companies in the Construction industry, placing it in the top 48.4%.
Is Stantec's Beneish M-Score too high?
Stantec's current Beneish M-Score is -2.49. Based on the distribution chart, Stantec ranks #827 out of 1707 companies in the Construction industry, which is above the industry midpoint. Overall, Stantec has a GF Score™ of 84/100, reflecting its overall financial health beyond just this single metric.
How does Stantec's Beneish M-Score compare to PWR and FIX?
According to the Construction industry distribution chart, Stantec ranks #827 out of 1707 companies for Beneish M-Score. This puts Stantec 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 Construction company?
A good Beneish M-Score depends on the Construction 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 Stantec and its competitors. Stantec's current Beneish M-Score is -2.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Stantec stock overvalued right now?
Stantec (MEX:STNN) has a current Beneish M-Score of -2.49. The stock's GF Value™ is MXN1,136.72, compared to a current price of MXN884.86 — trading 22.2% below its estimated fair value. The current Beneish M-Score is -2.49. Stantec's overall GF Score™ is 84/100. 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 Stantec (MEX:STNN), the current Beneish M-Score is -2.49 as of Aug. 25, 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 Stantec (MEX:STNN) Overvalued in 2026?
Based on GuruFocus' analysis, Stantec stock appears to be undervalued.
The current stock price of MXN884.86 is trading 22.2% below its estimated GF Value™ of MXN1,136.72.
Key valuation signals for MEX:STNN:
Beneish M-Score: -2.49
GF Value™: MXN1,136.72 vs. price of MXN884.86 (22.2% below fair value)
No single metric tells the full story. See the MEX:STNN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Stantec Inc is a sustainable engineering, architecture, and environmental consulting company. It offers services through the following business operating units; Environmental Services, Infrastructure, Water, Buildings, and Energy & Resources. Maximum revenue is derived from its Infrastructure business unit, which is engaged in evaluating, planning, and designing infrastructure solutions for transportation, community development, and urban spaces. The company's reportable segments are the United States, which derives maximum revenue, Canada, and Global. These segments provide consulting in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics services in the area of infrastructure and facilities.
84GF Score
Get the complete analysis for MEX:STNN
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MEX:STNN has been successfully added to your 
