Del Monte Pacific (SGX:D03) Beneish M-Score: -4.09 (As of Jul. 01, 2026)


What is Del Monte Pacific Beneish M-Score?

Del Monte Pacific SGX:D03 Beneish M-Score is -4.09 as of Jul. 01, 2026. The stock has 5 warning signs investors should review. Among 1,847 Consumer Packaged Goods companies, Del Monte Pacific ranks better than 96.43% 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 -4.09 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SGX:D03' s Beneish M-Score Range Over the Past 10 Years
Min: -5.66   Med: -2.83   Max: -1.23
Current: -4.09

During the past 13 years, the highest Beneish M-Score of Del Monte Pacific was -1.23. The lowest was -5.66. And the median was -2.83.


Del Monte Pacific Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Del Monte Pacific'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.

Del Monte Pacific Beneish M-Score Chart

Del Monte Pacific Annual Data
Trend Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25 Apr26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.71 -1.23 -1.93 -5.66 -4.09

Del Monte Pacific Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 -5.66 -10.31 -9.83 -9.50 -4.09

SGX:D03 vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Del Monte Pacific'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.


Del Monte Pacific Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Del Monte Pacific's Beneish M-Score distribution charts can be found below:

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



Del Monte Pacific 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 Del Monte Pacific 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 * 0.8381+0.528 * 0.8541+0.404 * 1.96+0.892 * 1.0915+0.115 * 0.9464
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0467+4.679 * -0.26443-0.327 * 2.8285
=-4.09

* 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 (Apr26) TTM:Last Year (Apr25) TTM:
Total Receivables was S$111 Mil.
Revenue was 272.674 + 311.959 + 304.279 + 261.109 = S$1,150 Mil.
Gross Profit was 90.998 + 102.093 + 104.183 + 84.738 = S$382 Mil.
Total Current Assets was S$305 Mil.
Total Assets was S$956 Mil.
Property, Plant and Equipment(Net PPE) was S$548 Mil.
Depreciation, Depletion and Amortization(DDA) was S$235 Mil.
Selling, General, & Admin. Expense(SGA) was S$171 Mil.
Total Current Liabilities was S$1,309 Mil.
Long-Term Debt & Capital Lease Obligation was S$377 Mil.
Net Income was 12.901 + 12.751 + 21.802 + 7.058 = S$55 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = S$0 Mil.
Cash Flow from Operations was 83.171 + 14.44 + 111.297 + 98.455 = S$307 Mil.
Total Receivables was S$121 Mil.
Revenue was 253.911 + 276.78 + 280.174 + 242.765 = S$1,054 Mil.
Gross Profit was 75.385 + 79.273 + 77.274 + 66.997 = S$299 Mil.
Total Current Assets was S$2,243 Mil.
Total Assets was S$2,992 Mil.
Property, Plant and Equipment(Net PPE) was S$584 Mil.
Depreciation, Depletion and Amortization(DDA) was S$232 Mil.
Selling, General, & Admin. Expense(SGA) was S$150 Mil.
Total Current Liabilities was S$1,745 Mil.
Long-Term Debt & Capital Lease Obligation was S$120 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)
=(110.558 / 1150.021) / (120.864 / 1053.63)
=0.096136 / 0.114712
=0.8381

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)
=(298.929 / 1053.63) / (382.012 / 1150.021)
=0.283713 / 0.332178
=0.8541

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 - (304.767 + 548.048) / 956.212) / (1 - (2242.825 + 584.159) / 2992.05)
=0.108132 / 0.055168
=1.96

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
=1150.021 / 1053.63
=1.0915

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))
=(231.713 / (231.713 + 584.159)) / (234.995 / (234.995 + 548.048))
=0.284007 / 0.300105
=0.9464

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)
=(171.394 / 1150.021) / (150.021 / 1053.63)
=0.149036 / 0.142385
=1.0467

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)
=((376.923 + 1309.112) / 956.212) / ((120.336 + 1744.888) / 2992.05)
=1.763244 / 0.623393
=2.8285

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
=(54.512 - 0 - 307.363) / 956.212
=-0.26443

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.

Del Monte Pacific has a M-score of -4.09 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 -4.09 mean?
Del Monte Pacific (SGX:D03) has a Beneish M-Score of -4.09 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Del Monte Pacific and its competitors. According to the industry distribution chart, Del Monte Pacific ranks #66 out of 1847 companies in the Consumer Packaged Goods industry, placing it in the top 3.6%.
Is Del Monte Pacific's Beneish M-Score too high?
Del Monte Pacific's current Beneish M-Score is -4.09. Based on the distribution chart, Del Monte Pacific ranks #66 out of 1847 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers.
How does Del Monte Pacific's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Del Monte Pacific ranks #66 out of 1847 companies for Beneish M-Score. This places Del Monte Pacific in the top 4% 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 a Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Del Monte Pacific and its competitors. Del Monte Pacific's current Beneish M-Score is -4.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Del Monte Pacific stock overvalued right now?
Based on GuruFocus' analysis, Del Monte Pacific (SGX:D03) is currently considered Modestly Undervalued. The stock's GF Value™ is S$0.10, compared to a current price of S$0.08 — trading 18% below its estimated fair value. The current Beneish M-Score is -4.09. 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 Del Monte Pacific (SGX:D03), the current Beneish M-Score is -4.09 as of Jul. 01, 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.

Del Monte Pacific Business Description

Other Exchanges DELM:PhilippinesX0T:Germany
Address 17 Bukit Pasoh Road, Singapore, SGP, 089831
Del Monte Pacific Ltd is engaged in growing, processing, developing, manufacturing, marketing, distributing, and selling packaged fruits and vegetables, and other food products. The company operates through Product segments which includes Meals and Meal Enhancers, Snacking and Desserts, Beverage, Premium Fresh fruit and Others. Geographical segments includes Americas, Asia Pacific and Europe. The majority of the company's revenue comes from the Asia Pacific.