STR.WS (Sitio Royalties) Beneish M-Score: -2.48 (As of Sep. 09, 2026)

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STR.WS Sitio Royalties Corp STR.WS
12 GF Score
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! 4 Warning Signs
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What is Sitio Royalties Beneish M-Score?

Sitio Royalties STR.WS 12 Beneish M-Score is -2.48 as of Sep. 09, 2026. GuruFocus rates STR.WS with a GF Score™ of 12/100. The stock has 4 warning signs investors should review.

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 -2.48 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

STR.WS' s Beneish M-Score Range Over the Past 10 Years
Min: -3.95   Med: -3.16   Max: -0.97
Current: -2.48

During the past 6 years, the highest Beneish M-Score of Sitio Royalties was -0.97. The lowest was -3.95. And the median was -3.16.

Sitio Royalties Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Sitio Royalties'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.

Sitio Royalties Beneish M-Score Chart

Sitio Royalties Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 -3.83 -3.16 -2.31

Sitio Royalties Quarterly Data
Dec16 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22
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 -2.03 -0.97 -2.27 -2.31 -2.48

STR.WS vs AMPY, CEI, EP: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Sitio Royalties'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.

Sitio Royalties Beneish M-Score vs Oil & Gas Industry

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

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


STR.WS
12GF Score
Sitio Royalties Corp STR.WS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Sitio Royalties 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 Sitio Royalties 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 * 0.6972+0.528 * 0.762+0.404 * 0.9684+0.892 * 2.0593+0.115 * 0.8306
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6194+4.679 * -0.142544-0.327 * 1.0809
=-2.60

* 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 (Mar22) TTM:Last Year (Mar21) TTM:
Total Receivables was $11.84 Mil.
Revenue was 22.305 + 20.129 + 19.214 + 16.161 = $77.81 Mil.
Gross Profit was 17.516 + 15.028 + 14.266 + 11.039 = $57.85 Mil.
Total Current Assets was $15.62 Mil.
Total Assets was $259.04 Mil.
Property, Plant and Equipment(Net PPE) was $190.42 Mil.
Depreciation, Depletion and Amortization(DDA) was $16.16 Mil.
Selling, General, & Admin. Expense(SGA) was $18.30 Mil.
Total Current Liabilities was $6.66 Mil.
Long-Term Debt & Capital Lease Obligation was $38.00 Mil.
Net Income was -1.129 + 5.113 + 5.808 + 3.642 = $13.43 Mil.
Non Operating Income was -5.176 + 1.219 + 1.682 + 0.806 = $-1.47 Mil.
Cash Flow from Operations was 14.853 + 9.366 + 13.75 + 13.858 = $51.83 Mil.
 Total Receivables was $8.25 Mil.
Revenue was 12.504 + 9.496 + 9.669 + 6.115 = $37.78 Mil.
Gross Profit was 8.507 + 5.276 + 5.382 + 2.241 = $21.41 Mil.
Total Current Assets was $11.92 Mil.
Total Assets was $274.67 Mil.
Property, Plant and Equipment(Net PPE) was $204.72 Mil.
Depreciation, Depletion and Amortization(DDA) was $14.22 Mil.
Selling, General, & Admin. Expense(SGA) was $14.35 Mil.
Total Current Liabilities was $3.31 Mil.
Long-Term Debt & Capital Lease Obligation was $40.50 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)
=(11.844 / 77.809) / (8.249 / 37.784)
=0.152219 / 0.21832
=0.6972

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)
=(21.406 / 37.784) / (57.849 / 77.809)
=0.566536 / 0.743474
=0.762

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 - (15.621 + 190.416) / 259.036) / (1 - (11.918 + 204.718) / 274.669)
=0.204601 / 0.211283
=0.9684

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
=77.809 / 37.784
=2.0593

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))
=(14.224 / (14.224 + 204.718)) / (16.157 / (16.157 + 190.416))
=0.064967 / 0.078214
=0.8306

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)
=(18.297 / 77.809) / (14.345 / 37.784)
=0.235153 / 0.379658
=0.6194

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)
=((38 + 6.662) / 259.036) / ((40.5 + 3.313) / 274.669)
=0.172416 / 0.159512
=1.0809

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
=(13.434 - -1.469 - 51.827) / 259.036
=-0.142544

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.

Sitio Royalties has a M-score of -2.60 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 -2.48 mean?
Sitio Royalties (STR.WS) has a Beneish M-Score of -2.48 as of Sep. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Sitio Royalties and its competitors.
Is Sitio Royalties' Beneish M-Score too high?
Sitio Royalties' current Beneish M-Score is -2.48. Overall, Sitio Royalties has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Sitio Royalties' Beneish M-Score compare to AMPY and CEI?
Sitio Royalties' Beneish M-Score of -2.48 can be compared against companies in the Oil & Gas 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 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 Sitio Royalties and its competitors. Sitio Royalties's current Beneish M-Score is -2.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sitio Royalties stock overvalued right now?
Sitio Royalties (STR.WS) has a current Beneish M-Score of -2.48. The current Beneish M-Score is -2.48. Sitio Royalties' overall GF Score™ is 12/100 with 4 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 Sitio Royalties (STR.WS), the current Beneish M-Score is -2.48 as of Sep. 09, 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.

Sitio Royalties Business Description

Industry EnergyOil & Gas
Address 609 Main Street, Suite 3950, Houston, TX, USA, 77002
Sitio Royalties Corp is a pure-play mineral and royalty company. The group is focused on large-scale consolidation of high-quality oil & gas mineral and royalty interests across premium basins. Sitio invests in mineral and royalty interests in the Permian and other productive U.S. oil basins.
12GF Score

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

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