Starbucks (PFTS:SBUX) Beneish M-Score: -2.77 (As of Jun. 25, 2026)


What is Starbucks Beneish M-Score?

Starbucks PFTS:SBUX 81 Beneish M-Score is -2.77 as of Jun. 25, 2026. GuruFocus rates PFTS:SBUX with a GF Score™ of 81/100. The stock has 8 warning signs investors should review. Among 357 Restaurants companies, Starbucks ranks better than 50.98% 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 -2.77 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

PFTS:SBUX' s Beneish M-Score Range Over the Past 10 Years
Min: -5.16   Med: -2.87   Max: -1.74
Current: -2.77

During the past 13 years, the highest Beneish M-Score of Starbucks was -1.74. The lowest was -5.16. And the median was -2.87.

Starbucks Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Starbucks'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.

Starbucks Beneish M-Score Chart

Starbucks Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -3.15 -2.63 -2.87 -2.85 -2.68

Starbucks 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 -2.78 -2.68 -2.68 -2.86 -2.77

PFTS:SBUX vs CMG, YUM, MCD: Beneish M-Score Comparison

For the Restaurants subindustry, Starbucks'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.

Starbucks Beneish M-Score vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Starbucks's Beneish M-Score distribution charts can be found below:

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


Starbucks 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 Starbucks 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 * 1.0546+0.528 * 1.1542+0.404 * 0.7212+0.892 * 1.0584+0.115 * 0.8325
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9663+4.679 * -0.072473-0.327 * 1.0298
=-2.77

* 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 $1,288.90 Mil.
Revenue was 9531.5 + 9915.1 + 9569 + 9456 = $38,471.60 Mil.
Gross Profit was 1914.4 + 2089.2 + 2162.6 + 2155.7 = $8,321.90 Mil.
Total Current Assets was $10,559.20 Mil.
Total Assets was $30,557.50 Mil.
Property, Plant and Equipment(Net PPE) was $15,378.20 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,725.10 Mil.
Selling, General, & Admin. Expense(SGA) was $2,576.10 Mil.
Total Current Liabilities was $11,449.40 Mil.
Long-Term Debt & Capital Lease Obligation was $21,092.50 Mil.
Net Income was 510.9 + 293.3 + 133.2 + 558.3 = $1,495.70 Mil.
Non Operating Income was 25.7 + -27.5 + -669.9 + 36.3 = $-635.40 Mil.
Cash Flow from Operations was 364.5 + 1597.7 + 1381.8 + 1001.7 = $4,345.70 Mil.
 Total Receivables was $1,154.70 Mil.
Revenue was 8761.6 + 9397.8 + 9073.9 + 9113.9 = $36,347.20 Mil.
Gross Profit was 1848 + 2301.1 + 2381.7 + 2543.9 = $9,074.70 Mil.
Total Current Assets was $6,713.70 Mil.
Total Assets was $31,633.10 Mil.
Property, Plant and Equipment(Net PPE) was $18,287.40 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,676.30 Mil.
Selling, General, & Admin. Expense(SGA) was $2,518.80 Mil.
Total Current Liabilities was $10,429.30 Mil.
Long-Term Debt & Capital Lease Obligation was $22,283.90 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)
=(1288.9 / 38471.6) / (1154.7 / 36347.2)
=0.033503 / 0.031769
=1.0546

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)
=(9074.7 / 36347.2) / (8321.9 / 38471.6)
=0.249667 / 0.216313
=1.1542

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 - (10559.2 + 15378.2) / 30557.5) / (1 - (6713.7 + 18287.4) / 31633.1)
=0.151194 / 0.209654
=0.7212

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
=38471.6 / 36347.2
=1.0584

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))
=(1676.3 / (1676.3 + 18287.4)) / (1725.1 / (1725.1 + 15378.2))
=0.083967 / 0.100864
=0.8325

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)
=(2576.1 / 38471.6) / (2518.8 / 36347.2)
=0.066961 / 0.069298
=0.9663

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)
=((21092.5 + 11449.4) / 30557.5) / ((22283.9 + 10429.3) / 31633.1)
=1.06494 / 1.034145
=1.0298

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
=(1495.7 - -635.4 - 4345.7) / 30557.5
=-0.072473

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.

Starbucks has a M-score of -2.77 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 -2.77 mean?
Starbucks (PFTS:SBUX) has a Beneish M-Score of -2.77 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Starbucks and its competitors. According to the industry distribution chart, Starbucks ranks #175 out of 357 companies in the Restaurants industry, placing it in the top 49%.
Is Starbucks' Beneish M-Score too high?
Starbucks' current Beneish M-Score is -2.77. Based on the distribution chart, Starbucks ranks #175 out of 357 companies in the Restaurants industry, which is above the industry midpoint. Overall, Starbucks has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Starbucks' Beneish M-Score compare to CMG and YUM?
According to the Restaurants industry distribution chart, Starbucks ranks #175 out of 357 companies for Beneish M-Score. This puts Starbucks 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 Restaurants company?
A good Beneish M-Score depends on the Restaurants 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 Starbucks and its competitors. Starbucks's current Beneish M-Score is -2.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Starbucks stock overvalued right now?
Starbucks (PFTS:SBUX) has a current Beneish M-Score of -2.77. The current Beneish M-Score is -2.77. Starbucks' overall GF Score™ is 81/100 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 Starbucks (PFTS:SBUX), the current Beneish M-Score is -2.77 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.

Starbucks Business Description

Address 2401 Utah Avenue South, Seattle, WA, USA, 98134
Starbucks stands out as the world's biggest and most recognizable coffee brand, powered by ultracustomizable beverages in-store and a sweeping footprint of nearly 41,000 cafes in over 80 countries. About 52% are company-operated, with the balance run by licensees. The company operates roasteries and sells across its North America (74% of revenue as of the end of fiscal 2025), international (21%), and channel development (5%) segments. The brand collects revenue from company-operated stores, licensee royalties, equipment and product sales, retail ready-to-drink beverages, and packaged coffee.