MXC (Mexco Energy) Beneish M-Score: -3.16 (As of Jun. 25, 2026)

What is Mexco Energy Beneish M-Score?

Mexco Energy MXC -3.51% 71 Beneish M-Score is -3.16 as of Jun. 25, 2026. GuruFocus rates MXC with a GF Score™ of 71/100 and a GF Value™ of $10.06 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 822 Oil & Gas companies, Mexco Energy ranks better than 77.86% 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 -3.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MXC' s Beneish M-Score Range Over the Past 10 Years
Min: -4.83 Med: -2.93 Max: 9.09
Current: -3.16

During the past 13 years, the highest Beneish M-Score of Mexco Energy was 9.09. The lowest was -4.83. And the median was -2.93.

Mexco Energy Beneish M-Score Related Terms

Mexco Energy Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Mexco Energy'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.

Mexco Energy Beneish M-Score Chart

Mexco Energy Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Beneish M-Score

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-1.36

-1.69

-2.34

-3.35

-2.71

Mexco Energy Quarterly Data
	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															-2.95	-2.71	-3.02	-2.80	-3.16

MXC vs NRIS, BRN, MVO: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Mexco Energy'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.

Mexco Energy Beneish M-Score vs Oil & Gas Industry

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

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

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Mexco Energy Corp MXC

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

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Mexco Energy 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 Mexco Energy 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 * 0.7384

0.528 * 1.0175

0.404 * 1.2612

0.892 * 0.9668

0.115 * 0.8727

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0479

4.679 * -0.146332

0.327 * 0.449

-3.16

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was $0.78 Mil.
Revenue was 1.384 + 1.735 + 1.814 + 1.99 = $6.92 Mil.
Gross Profit was 0.417 + 0.703 + 0.734 + 1.003 = $2.86 Mil.
Total Current Assets was $3.49 Mil.
Total Assets was $20.56 Mil.
Property, Plant and Equipment(Net PPE) was $14.54 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.69 Mil.
Selling, General, & Admin. Expense(SGA) was $1.32 Mil.
Total Current Liabilities was $0.28 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 Mil.
Net Income was 0.05 + 0.324 + 0.242 + 0.635 = $1.25 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 0.863 + 0.704 + 1.363 + 1.329 = $4.26 Mil.

Total Receivables was $1.09 Mil.
Revenue was 1.891 + 1.749 + 1.728 + 1.793 = $7.16 Mil.
Gross Profit was 0.795 + 0.752 + 0.751 + 0.709 = $3.01 Mil.
Total Current Assets was $2.05 Mil.
Total Assets was $19.54 Mil.
Property, Plant and Equipment(Net PPE) was $15.58 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.46 Mil.
Selling, General, & Admin. Expense(SGA) was $1.31 Mil.
Total Current Liabilities was $0.58 Mil.
Long-Term Debt & Capital Lease Obligation was $0.09 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)
	=	(0.776 / 6.923)	/	(1.087 / 7.161)
	=	0.11209	/	0.151794
	=	0.7384

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)
	=	(3.007 / 7.161)	/	(2.857 / 6.923)
	=	0.419913	/	0.412682
	=	1.0175

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 - (3.488 + 14.54) / 20.556)	/	(1 - (2.052 + 15.579) / 19.536)
	=	0.122981	/	0.097512
	=	1.2612

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
	=	6.923	/	7.161
	=	0.9668

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))
	=	(2.461 / (2.461 + 15.579))	/	(2.694 / (2.694 + 14.54))
	=	0.136419	/	0.156319
	=	0.8727

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)
	=	(1.322 / 6.923)	/	(1.305 / 7.161)
	=	0.190958	/	0.182237
	=	1.0479

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)
	=	((0.034 + 0.283) / 20.556)	/	((0.089 + 0.582) / 19.536)
	=	0.015421	/	0.034347
	=	0.449

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
	=	(1.251 - 0	-	4.259)	/	20.556
	=	-0.146332

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.

Mexco Energy has a M-score of -3.16 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 -3.16 mean?

Mexco Energy (MXC) has a Beneish M-Score of -3.16 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mexco Energy and its competitors. According to the industry distribution chart, Mexco Energy ranks #182 out of 822 companies in the Oil & Gas industry, placing it in the top 22.1%.

Is Mexco Energy's Beneish M-Score too high?

Mexco Energy's current Beneish M-Score is -3.16. Based on the distribution chart, Mexco Energy ranks #182 out of 822 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Mexco Energy has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Mexco Energy's Beneish M-Score compare to NRIS and BRN?

According to the Oil & Gas industry distribution chart, Mexco Energy ranks #182 out of 822 companies for Beneish M-Score. This places Mexco Energy in the top 22% 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 Mexco Energy and its competitors. Mexco Energy's current Beneish M-Score is -3.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Mexco Energy stock overvalued right now?

Based on GuruFocus' analysis, Mexco Energy (MXC) is currently considered Modestly Undervalued. The stock's GF Value™ is $10.06, compared to a current price of $7.42 — trading 26.2% below its estimated fair value. The current Beneish M-Score is -3.16. Mexco Energy's overall GF Score™ is 71/100 with 1 warning sign 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 Mexco Energy (MXC), the current Beneish M-Score is -3.16 as of Jun. 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 Mexco Energy (MXC) Overvalued in 2026?

Based on GuruFocus' analysis, Mexco Energy stock appears to be undervalued. The current stock price of $7.42 is trading 26.2% below its estimated GF Value™ of $10.06. GuruFocus considers Mexco Energy to be Modestly Undervalued.

Key valuation signals for MXC:

Beneish M-Score: -3.16
GF Value™: $10.06 vs. price of $7.42 (26.2% below fair value)
GF Score™: 71/100 with 1 warning sign

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

Mexco Energy Business Description

Industry Energy Oil & Gas

Comparable Companies NRIS BRN MVO CKX TPET PRT AMEN GULTU ROYL SPND HKSE:00883 COP TSX:CNQ EOG OXY FANG DVN ASX:WDS EQT TPL

Other Exchanges MZB:Germany

Address 415 W. Wall Street, Suite 475, Midland, TX, USA, 79701

Website https://www.mexcoenergy.com

Mexco Energy Corporation is an independent oil and gas company. It is engaged in the acquisition, exploration, development, and production of natural gas and crude oil properties located in the United States. The company carried out its operation in the Permian Basin of West Texas. It is focusing on two primary areas, the Delaware Basin located in the Western portion of the Permian Basin including Lea and Eddy Counties, New Mexico and Loving County, Texas, and the Midland Basin located in the Eastern portion of the Permian Basin including Reagan, Upton, Midland, Martin, Howard, and Glasscock Counties, Texas. The company generates revenue from Oil sales, Natural gas sales, oil and gas royalty interests.

71GF Score

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$7.42

Price

$10.06

GF Value

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