Olin (OLN) Beneish M-Score: -2.74 (As of Jun. 24, 2026)

What is Olin Beneish M-Score?

Olin OLN -2.10% 60 Beneish M-Score is -2.74 as of Jun. 24, 2026. GuruFocus rates OLN with a GF Score™ of 60/100 and a GF Value™ of $45.87 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 1,529 Chemicals companies, Olin ranks better than 70.7% 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 -2.74 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

OLN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.01 Med: -2.62 Max: -0.97
Current: -2.74

During the past 13 years, the highest Beneish M-Score of Olin was -0.97. The lowest was -3.01. And the median was -2.62.

Olin Beneish M-Score Related Terms

Olin Beneish M-Score Historical Data

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The historical data trend for Olin'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.

Olin Beneish M-Score Chart

Olin Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.62

-2.88

-2.61

-2.34

-2.68

Olin 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															-2.27	-2.35	-2.30	-2.68	-2.74

OLN vs HUN, REX, TROX: Beneish M-Score Comparison

For the Chemicals subindustry, Olin'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.

Olin Beneish M-Score vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Olin's Beneish M-Score distribution charts can be found below:

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

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Olin Corp OLN

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

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Olin 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 Olin 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 * 0.8453

0.528 * 1.6253

0.404 * 1.0329

0.892 * 1.026

0.115 * 0.9814

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.213

4.679 * -0.091368

0.327 * 1.0646

-2.74

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $974 Mil.
Revenue was 1583 + 1665.1 + 1713.2 + 1758.3 = $6,720 Mil.
Gross Profit was 75.8 + 31.3 + 183.4 + 138.1 = $429 Mil.
Total Current Assets was $2,097 Mil.
Total Assets was $7,354 Mil.
Property, Plant and Equipment(Net PPE) was $2,431 Mil.
Depreciation, Depletion and Amortization(DDA) was $507 Mil.
Selling, General, & Admin. Expense(SGA) was $507 Mil.
Total Current Liabilities was $1,544 Mil.
Long-Term Debt & Capital Lease Obligation was $3,250 Mil.
Net Income was -83 + -143.4 + 42.8 + -1.3 = $-185 Mil.
Non Operating Income was -7 + -14.7 + 1 + -3.9 = $-25 Mil.
Cash Flow from Operations was -48.6 + 321.2 + 26.7 + 212.3 = $512 Mil.

Total Receivables was $1,123 Mil.
Revenue was 1644.2 + 1671.3 + 1589.5 + 1644 = $6,549 Mil.
Gross Profit was 148.7 + 157.9 + 134.5 + 237.8 = $679 Mil.
Total Current Assets was $2,251 Mil.
Total Assets was $7,655 Mil.
Property, Plant and Equipment(Net PPE) was $2,556 Mil.
Depreciation, Depletion and Amortization(DDA) was $521 Mil.
Selling, General, & Admin. Expense(SGA) was $408 Mil.
Total Current Liabilities was $1,439 Mil.
Long-Term Debt & Capital Lease Obligation was $3,249 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)
	=	(974.1 / 6719.6)	/	(1123.1 / 6549)
	=	0.144964	/	0.171492
	=	0.8453

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)
	=	(678.9 / 6549)	/	(428.6 / 6719.6)
	=	0.103665	/	0.063784
	=	1.6253

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 - (2096.7 + 2431) / 7353.8)	/	(1 - (2251.3 + 2555.5) / 7655)
	=	0.384305	/	0.372071
	=	1.0329

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
	=	6719.6	/	6549
	=	1.026

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))
	=	(520.6 / (520.6 + 2555.5))	/	(506.6 / (506.6 + 2431))
	=	0.16924	/	0.172454
	=	0.9814

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)
	=	(507.3 / 6719.6)	/	(407.6 / 6549)
	=	0.075496	/	0.062239
	=	1.213

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)
	=	((3250.4 + 1543.7) / 7353.8)	/	((3248.5 + 1439) / 7655)
	=	0.651921	/	0.612345
	=	1.0646

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
	=	(-184.9 - -24.6	-	511.6)	/	7353.8
	=	-0.091368

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.

Olin has a M-score of -2.74 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 -2.74 mean?

Olin (OLN) has a Beneish M-Score of -2.74 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Olin and its competitors. According to the industry distribution chart, Olin ranks #448 out of 1529 companies in the Chemicals industry, placing it in the top 29.3%.

Is Olin's Beneish M-Score too high?

Olin's current Beneish M-Score is -2.74. Based on the distribution chart, Olin ranks #448 out of 1529 companies in the Chemicals industry, which is above the industry midpoint. Overall, Olin has a GF Score™ of 60/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Olin's Beneish M-Score compare to HUN and REX?

According to the Chemicals industry distribution chart, Olin ranks #448 out of 1529 companies for Beneish M-Score. This puts Olin 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 Olin and its competitors. Olin's current Beneish M-Score is -2.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Olin stock overvalued right now?

Based on GuruFocus' analysis, Olin (OLN) is currently considered Possible Value Trap. The stock's GF Value™ is $45.87, compared to a current price of $21.01 — trading 54.2% below its estimated fair value. The current Beneish M-Score is -2.74. Olin's overall GF Score™ is 60/100 with 6 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 Olin (OLN), the current Beneish M-Score is -2.74 as of Jun. 24, 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 Olin (OLN) Overvalued in 2026?

Based on GuruFocus' analysis, Olin stock appears to be undervalued. The current stock price of $21.01 is trading 54.2% below its estimated GF Value™ of $45.87. GuruFocus considers Olin to be Possible Value Trap.

Key valuation signals for OLN:

Beneish M-Score: -2.74
GF Value™: $45.87 vs. price of $21.01 (54.2% below fair value)
GF Score™: 60/100 with 6 warning signs

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

Olin Business Description

Industry Basic Materials Chemicals

Comparable Companies HUN REX TROX GPRE ASPI LXU WLKP RYAM ASIX VHI TSE:4063 XTER:BAS SAU:2010 SHSE:600989 DOW TSE:4004 SZSE:002460 XKRX:051910 SZSE:000408 SHSE:600346

Other Exchanges OLN:Germany

Address 190 Carondelet Plaza, Suite 1530, Clayton, MO, USA, 63105

Website https://www.olin.com

Olin was founded in 1892 and has been publicly listed since 1917. The company has a unique dual identity compared with some of its chemical peers: it is the world's largest chlor-alkali producer by capacity, and it owns the Winchester brand, a leading US ammunition manufacturer. Olin has three reportable segments: chlor-alkali products and vinyls (CAPV or CAP), Epoxies, and Winchester, which represent around 55%, 20%, and 25% of sales, respectively.

60GF Score

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

$21.01

Price

$45.87

GF Value

View OLN Analysis

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