YPF (MEX:YPF N) Beneish M-Score: -3.15 (As of Jun. 27, 2026)

What is YPF Beneish M-Score?

YPF MEX:YPF N 67 Beneish M-Score is -3.15 as of Jun. 27, 2026. GuruFocus rates MEX:YPF N with a GF Score™ of 67/100 and a GF Value™ of MXN851.69 (Fairly Valued). The stock has 4 warning signs investors should review. Among 822 Oil & Gas companies, YPF ranks better than 77.49% 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 -3.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MEX:YPF N' s Beneish M-Score Range Over the Past 10 Years
Min: -3.15 Med: -2.56 Max: -0.54
Current: -3.15

During the past 13 years, the highest Beneish M-Score of YPF was -0.54. The lowest was -3.15. And the median was -2.56.

YPF Beneish M-Score Related Terms

YPF Beneish M-Score Historical Data

* Premium members only.

The historical data trend for YPF'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.

YPF Beneish M-Score Chart

YPF Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.88

-2.38

-2.65

-0.54

-2.73

YPF 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															-2.08	-2.33	-2.60	-2.73	-3.15

MEX:YPF N vs XOM, CVX: Beneish M-Score Comparison

For the Oil & Gas Integrated subindustry, YPF'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.

YPF Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, YPF's Beneish M-Score distribution charts can be found below:

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

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67GF Score

YPF SA MEX:YPF N

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

View Full Analysis

YPF 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 YPF 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 * 1.1615

0.528 * 0.9255

0.404 * 0.8526

0.892 * 0.8853

0.115 * 0.9426

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9949

4.679 * -0.222177

0.327 * 0.962

-3.57

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was MXN44,342 Mil.
Revenue was 89135.636 + 81817.901 + 85172.121 + 87386.317 = MXN343,512 Mil.
Gross Profit was 31647.389 + 23623.478 + 24287.721 + 22086.652 = MXN101,645 Mil.
Total Current Assets was MXN121,144 Mil.
Total Assets was MXN547,437 Mil.
Property, Plant and Equipment(Net PPE) was MXN375,134 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN57,508 Mil.
Selling, General, & Admin. Expense(SGA) was MXN41,664 Mil.
Total Current Liabilities was MXN129,258 Mil.
Long-Term Debt & Capital Lease Obligation was MXN159,734 Mil.
Net Income was 7285.211 + -11775.728 + -3778.905 + 941.46 = MXN-7,328 Mil.
Non Operating Income was 1298.354 + 3475.1 + 495.293 + 56.488 = MXN5,325 Mil.
Cash Flow from Operations was 33630.986 + 31293.907 + 22471.645 + 21578.263 = MXN108,975 Mil.

Total Receivables was MXN43,126 Mil.
Revenue was 94107.72 + 99210.565 + 104299.519 + 90409.708 = MXN388,028 Mil.
Gross Profit was 26431.994 + 20876.556 + 31878.596 + 27077.112 = MXN106,264 Mil.
Total Current Assets was MXN136,129 Mil.
Total Assets was MXN607,895 Mil.
Property, Plant and Equipment(Net PPE) was MXN405,134 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN58,029 Mil.
Selling, General, & Admin. Expense(SGA) was MXN47,302 Mil.
Total Current Liabilities was MXN172,238 Mil.
Long-Term Debt & Capital Lease Obligation was MXN161,354 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)
	=	(44342.409 / 343511.975)	/	(43125.886 / 388027.512)
	=	0.129085	/	0.111141
	=	1.1615

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)
	=	(106264.258 / 388027.512)	/	(101645.24 / 343511.975)
	=	0.273858	/	0.2959
	=	0.9255

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 - (121143.679 + 375134.258) / 547436.707)	/	(1 - (136128.863 + 405133.735) / 607894.955)
	=	0.093451	/	0.109612
	=	0.8526

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
	=	343511.975	/	388027.512
	=	0.8853

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))
	=	(58029.078 / (58029.078 + 405133.735))	/	(57507.869 / (57507.869 + 375134.258))
	=	0.125289	/	0.132922
	=	0.9426

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)
	=	(41663.739 / 343511.975)	/	(47302.483 / 388027.512)
	=	0.121288	/	0.121905
	=	0.9949

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)
	=	((159733.657 + 129258.394) / 547436.707)	/	((161353.824 + 172237.586) / 607894.955)
	=	0.5279	/	0.548765
	=	0.962

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
	=	(-7327.962 - 5325.235	-	108974.801)	/	547436.707
	=	-0.222177

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.

YPF has a M-score of -3.57 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 -3.15 mean?

YPF (MEX:YPF N) has a Beneish M-Score of -3.15 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on YPF and its competitors. According to the industry distribution chart, YPF ranks #185 out of 822 companies in the Oil & Gas industry, placing it in the top 22.5%.

Is YPF's Beneish M-Score too high?

YPF's current Beneish M-Score is -3.15. Based on the distribution chart, YPF ranks #185 out of 822 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, YPF has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does YPF's Beneish M-Score compare to XOM and CVX?

According to the Oil & Gas industry distribution chart, YPF ranks #185 out of 822 companies for Beneish M-Score. This places YPF 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 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 YPF and its competitors. YPF's current Beneish M-Score is -3.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is YPF stock overvalued right now?

Based on GuruFocus' analysis, YPF (MEX:YPF N) is currently considered Fairly Valued. The stock's GF Value™ is MXN851.69, compared to a current price of MXN877.03 — trading 3% above its estimated fair value. The current Beneish M-Score is -3.15. YPF's overall GF Score™ is 67/100 with 4 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 YPF (MEX:YPF N), the current Beneish M-Score is -3.15 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 YPF (MEX:YPF N) Overvalued in 2026?

Based on GuruFocus' analysis, YPF stock appears to be overvalued. The current stock price of MXN877.03 is trading 3% above its estimated GF Value™ of MXN851.69. GuruFocus considers YPF to be Fairly Valued.

Key valuation signals for MEX:YPF N:

Beneish M-Score: -3.15
GF Value™: MXN851.69 vs. price of MXN877.03 (3% above fair value)
GF Score™: 67/100 with 4 warning signs

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

YPF Business Description

Industry Energy Oil & Gas

Comparable Companies BUE:TGSU2 SAU:2222 XOM CVX SHSE:601857 LSE:SHEL XPAR:TTE BSP:PETR3 LSE:BP.OSL:EQNR HKSE:00386 MIL:ENI TSX:SU ADX:ADNOCGAS TSX:IMO TSX:CVE WAR:PKN BOM:500312 BKK:PTT BOG:ECOPETROL

Other Exchanges YPF:USA YPF:Germany Y2PF34:Brazil YPFD:Argentina

Address Macacha Guemes 515, Buenos Aires, ARG, C1106BKK

Website https://www.ypf.com

YPF SA is an Argentina-based integrated oil and gas company. The company operates through four business segments: Upstream, Midstream and Downstream, LNG and Integrated Gas, and New Energies. The Upstream segment focuses on the exploration and production of crude oil and natural gas. The Midstream and Downstream segment includes refining, transportation, and commercialization of crude oil, refined, and petrochemical products. The LNG and Integrated Gas segment is involved in natural gas transportation, processing, storage, and commercialization. The New Energies segment focuses on energy transition initiatives, including natural gas distribution, power generation, renewable energy, and related technology development. It generates majority of revenue from Midstream and Downstream segment.

67GF Score

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

MXN877.03

Price

MXN851.69

GF Value

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