Ford Motor Co (MIC:F-RM) Beneish M-Score: -1.49 (As of Jun. 27, 2026)


What is Ford Motor Co Beneish M-Score?

Ford Motor Co MIC:F-RM 69 Beneish M-Score is -1.49 as of Jun. 27, 2026. GuruFocus rates MIC:F-RM with a GF Score™ of 69/100. The stock has 8 warning signs investors should review. Among 1,274 Vehicles & Parts companies, Ford Motor Co ranks worse than 92.07% 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.

Warning Sign:

Beneish M-Score -1.49 higher than -1.78, which implies that the company might have manipulated its financial results.

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

MIC:F-RM' s Beneish M-Score Range Over the Past 10 Years
Min: -3.29   Med: -2.61   Max: 1.4
Current: -1.49

During the past 13 years, the highest Beneish M-Score of Ford Motor Co was 1.40. The lowest was -3.29. And the median was -2.61.

Ford Motor Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Ford Motor Co'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.

Ford Motor Co Beneish M-Score Chart

Ford Motor Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.12 -2.23 -2.37 -2.51 1.40

Ford Motor Co 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.63 -2.62 -2.71 1.40 -1.49

MIC:F-RM vs GM, RIVN, XPEV: Beneish M-Score Comparison

For the Auto Manufacturers subindustry, Ford Motor Co'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.

Ford Motor Co Beneish M-Score vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Ford Motor Co's Beneish M-Score distribution charts can be found below:

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


Ford Motor Co 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 Ford Motor Co 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 * 1.0689+0.528 * 3.5918+0.404 * 1.0481+0.892 * 0.8949+0.115 * 0.5165
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0457+4.679 * -0.078423-0.327 * 1.0233
=-1.56

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was ₽5,154,698.17 Mil.
Revenue was 3515993.188 + 3648080.654 + 4197832.008 + 3900682.274 = ₽15,262,588.12 Mil.
Gross Profit was 417500.312 + -682474.884 + 357032.532 + 250049.715 = ₽342,107.68 Mil.
Total Current Assets was ₽9,456,268.27 Mil.
Total Assets was ₽22,958,777.89 Mil.
Property, Plant and Equipment(Net PPE) was ₽5,452,378.50 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽1,132,395.22 Mil.
Selling, General, & Admin. Expense(SGA) was ₽902,382.16 Mil.
Total Current Liabilities was ₽8,671,829.41 Mil.
Long-Term Debt & Capital Lease Obligation was ₽8,791,649.40 Mil.
Net Income was 207124.376 + -879545.965 + 203270.965 + -2798.194 = ₽-471,948.82 Mil.
Non Operating Income was 50480.47 + -257647.187 + 17361.517 + -3264.56 = ₽-193,069.76 Mil.
Cash Flow from Operations was 106976.326 + 308763.244 + 614880.131 + 491005.299 = ₽1,521,625.00 Mil.
 Total Receivables was ₽5,388,624.89 Mil.
Revenue was 3359236.138 + 5187551.714 + 4186512.484 + 4321843.279 = ₽17,055,143.62 Mil.
Gross Profit was 227204.294 + 431264.8 + 302324.999 + 412314.408 = ₽1,373,108.50 Mil.
Total Current Assets was ₽10,166,689.88 Mil.
Total Assets was ₽23,508,539.10 Mil.
Property, Plant and Equipment(Net PPE) was ₽5,476,945.39 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽533,925.63 Mil.
Selling, General, & Admin. Expense(SGA) was ₽964,322.77 Mil.
Total Current Liabilities was ₽8,983,409.91 Mil.
Long-Term Debt & Capital Lease Obligation was ₽8,490,252.67 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)
=(5154698.173 / 15262588.124) / (5388624.889 / 17055143.615)
=0.337734 / 0.315953
=1.0689

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)
=(1373108.501 / 17055143.615) / (342107.675 / 15262588.124)
=0.08051 / 0.022415
=3.5918

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 - (9456268.273 + 5452378.497) / 22958777.892) / (1 - (10166689.876 + 5476945.394) / 23508539.102)
=0.350634 / 0.334555
=1.0481

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
=15262588.124 / 17055143.615
=0.8949

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))
=(533925.625 / (533925.625 + 5476945.394)) / (1132395.22 / (1132395.22 + 5452378.497))
=0.088827 / 0.171972
=0.5165

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)
=(902382.16 / 15262588.124) / (964322.77 / 17055143.615)
=0.059124 / 0.056541
=1.0457

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)
=((8791649.395 + 8671829.407) / 22958777.892) / ((8490252.667 + 8983409.914) / 23508539.102)
=0.760645 / 0.74329
=1.0233

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
=(-471948.818 - -193069.76 - 1521625) / 22958777.892
=-0.078423

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.

Ford Motor Co has a M-score of -1.56 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.49 mean?
Ford Motor Co (MIC:F-RM) has a Beneish M-Score of -1.49 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ford Motor Co and its competitors. According to the industry distribution chart, Ford Motor Co ranks #1173 out of 1274 companies in the Vehicles & Parts industry, placing it in the top 92.1%.
Is Ford Motor Co's Beneish M-Score too high?
Ford Motor Co's current Beneish M-Score is -1.49. Based on the distribution chart, Ford Motor Co ranks #1173 out of 1274 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Ford Motor Co has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Ford Motor Co's Beneish M-Score compare to GM and RIVN?
According to the Vehicles & Parts industry distribution chart, Ford Motor Co ranks #1173 out of 1274 companies for Beneish M-Score. This places Ford Motor Co 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 a Vehicles & Parts company?
A good Beneish M-Score depends on the Vehicles & Parts 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 Ford Motor Co and its competitors. Ford Motor Co's current Beneish M-Score is -1.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ford Motor Co stock overvalued right now?
Ford Motor Co (MIC:F-RM) has a current Beneish M-Score of -1.49. The current Beneish M-Score is -1.49. Ford Motor Co's overall GF Score™ is 69/100 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 Ford Motor Co (MIC:F-RM), the current Beneish M-Score is -1.49 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.

Ford Motor Co Business Description

Address One American Road, Dearborn, MI, USA, 48126
Ford Motor Co. manufactures automobiles under its Ford and Lincoln brands. In March 2022, the company announced that it will run its combustion engine business, Ford Blue, and its BEV business, Ford Model e, as separate businesses but still all under Ford Motor. The company has over 13% market share in the United States, about 10% share in the UK, and just over 1% share in China including Taiwan and unconsolidated affiliates. Sales in the US made up about 65% of 2025 total company revenue. Ford has about 169,000 employees, including about 56,300 UAW employees, and is based in Dearborn, Michigan.