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 -2.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Sherwin-Williams Co's Beneish M-Score or its related term are showing as below:
MIL:1SHW'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.85 Med: -2.58 Max: -1.4
Current: -2.56
During the past 13 years, the highest Beneish M-Score of Sherwin-Williams Co was -1.40. The lowest was -2.85. And the median was -2.58.
Sherwin-Williams Co Beneish M-Score Related Terms
Sherwin-Williams Co Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Sherwin-Williams 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.
MIL:1SHW vs ECL, APD, PPG: Beneish M-Score Comparison
For the Specialty Chemicals subindustry, Sherwin-Williams 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.
Sherwin-Williams Co Beneish M-Score vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Sherwin-Williams Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sherwin-Williams Co'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 Sherwin-Williams 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 * 1.101
+
0.528 * 0.9934
+
0.404 * 0.9848
+
0.892 * 0.9638
+
0.115 * 1.0002
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0191
+
4.679 * -0.039908
-
0.327 * 0.9979
=
-2.62
* 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))
=
(586.059 / (586.059 + 5213.577))
/
(604.028 / (604.028 + 5374.504))
=
0.101051
/
0.101033
=
1.0002
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
=
(2233.828 - 12.407
-
3132.015)
/
22817.575
=
-0.039908
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.
Sherwin-Williams Co has a M-score of -2.62 suggests that the company is unlikely to be a manipulator.
Sherwin-Williams Co (MIL:1SHW) has a Beneish M-Score of -2.56 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sherwin-Williams Co and its competitors. According to the industry distribution chart, Sherwin-Williams Co ranks #700 out of 1530 companies in the Chemicals industry, placing it in the top 45.8%.
Is Sherwin-Williams Co's Beneish M-Score too high?
Sherwin-Williams Co's current Beneish M-Score is -2.56. Based on the distribution chart, Sherwin-Williams Co ranks #700 out of 1530 companies in the Chemicals industry, which is above the industry midpoint. Overall, Sherwin-Williams Co has a GF Score™ of 62/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Sherwin-Williams Co's Beneish M-Score compare to ECL and APD?
According to the Chemicals industry distribution chart, Sherwin-Williams Co ranks #700 out of 1530 companies for Beneish M-Score. This puts Sherwin-Williams Co 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 Chemicals company?
A good Beneish M-Score depends on the Chemicals 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 Sherwin-Williams Co and its competitors. Sherwin-Williams Co's current Beneish M-Score is -2.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sherwin-Williams Co stock overvalued right now?
Based on GuruFocus' analysis, Sherwin-Williams Co (MIL:1SHW) is currently considered Fairly Valued. The stock's GF Value™ is €301.02, compared to a current price of €287.70 — trading 4.4% below its estimated fair value. The current Beneish M-Score is -2.56. Sherwin-Williams Co's overall GF Score™ is 62/100. 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 Sherwin-Williams Co (MIL:1SHW), the current Beneish M-Score is -2.56 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 Sherwin-Williams Co (MIL:1SHW) Overvalued in 2026?
Based on GuruFocus' analysis, Sherwin-Williams Co stock appears to be undervalued.
The current stock price of €287.70 is trading 4.4% below its estimated GF Value™ of €301.02.
GuruFocus considers Sherwin-Williams Co to be Fairly Valued.
Key valuation signals for MIL:1SHW:
Beneish M-Score: -2.56
GF Value™: €301.02 vs. price of €287.70 (4.4% below fair value)
No single metric tells the full story. See the MIL:1SHW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sherwin-Williams is the largest global manufacturer of paints and coatings. The company focuses on the development, manufacturing, and distribution of paint, coatings, and related products to customers ranging from professional painters and contractors to industrial manufacturers to do-it-yourself consumers. Sherwin organizes its operations into three primary segments: the paint stores group is the largest segment and includes the company's network of over 4,800 company-owned stores; the consumer brands group sells branded architectural paints through big-box retailers such as Lowe's, and the performance coatings group provides specialized coatings for industrial applications, such as automotive refinishing, packaging, and industrial wood.
62GF Score
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