Armstrong Flooring (STU:2AS) Beneish M-Score: 0.00 (As of Jul. 05, 2026)

What is Armstrong Flooring Beneish M-Score?

Armstrong Flooring STU:2AS 12 Beneish M-Score is 0.00 as of Jul. 05, 2026. GuruFocus rates STU:2AS with a GF Score™ of 12/100.

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.

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

During the past 10 years, the highest Beneish M-Score of Armstrong Flooring was 0.00. The lowest was 0.00. And the median was 0.00.

Armstrong Flooring Beneish M-Score Related Terms

Armstrong Flooring Beneish M-Score Historical Data

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The historical data trend for Armstrong Flooring'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.

Armstrong Flooring Beneish M-Score Chart

Armstrong Flooring Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Beneish M-Score

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-2.39

-4.51

-2.69

-2.87

-2.36

Armstrong Flooring Quarterly Data
	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21
Beneish M-Score	Get a 7-Day Free Trial															-2.87	-2.45	-2.59	-2.67	-2.36

STU:2AS vs AEHL, CARR, MAS: Beneish M-Score Comparison

For the Building Products & Equipment subindustry, Armstrong Flooring'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.

Armstrong Flooring Beneish M-Score vs Construction Industry

For the Construction industry and Industrials sector, Armstrong Flooring's Beneish M-Score distribution charts can be found below:

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

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Armstrong Flooring Inc STU:2AS

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

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Armstrong Flooring 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 Armstrong Flooring 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 * 1.2137

0.528 * 1.2718

0.404 * 1.5059

0.892 * 1.0934

0.115 * 1.1454

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9995

4.679 * -0.069486

0.327 * 1.2584

-2.25

This Year (Dec21) TTM:

Last Year (Dec20) TTM:

Total Receivables was €46.9 Mil.
Revenue was 145.494 + 143.225 + 139.523 + 125.076 = €553.3 Mil.
Gross Profit was 17.789 + 10.965 + 17.596 + 16.716 = €63.1 Mil.
Total Current Assets was €198.8 Mil.
Total Assets was €457.5 Mil.
Property, Plant and Equipment(Net PPE) was €220.4 Mil.
Depreciation, Depletion and Amortization(DDA) was €36.8 Mil.
Selling, General, & Admin. Expense(SGA) was €137.1 Mil.
Total Current Liabilities was €214.7 Mil.
Long-Term Debt & Capital Lease Obligation was €15.4 Mil.
Net Income was -27.435 + -25.245 + -16.185 + 22.848 = €-46.0 Mil.
Non Operating Income was 1.947 + 1.955 + 1.909 + 40.404 = €46.2 Mil.
Cash Flow from Operations was -26.285 + -7.565 + -3.237 + -23.352 = €-60.4 Mil.

Total Receivables was €35.3 Mil.
Revenue was 118.286 + 132.953 + 129.293 + 125.523 = €506.1 Mil.
Gross Profit was 6.905 + 23.432 + 21.934 + 21.086 = €73.4 Mil.
Total Current Assets was €177.1 Mil.
Total Assets was €409.9 Mil.
Property, Plant and Equipment(Net PPE) was €209.9 Mil.
Depreciation, Depletion and Amortization(DDA) was €41.2 Mil.
Selling, General, & Admin. Expense(SGA) was €125.4 Mil.
Total Current Liabilities was €100.4 Mil.
Long-Term Debt & Capital Lease Obligation was €63.5 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)
	=	(46.905 / 553.318)	/	(35.346 / 506.055)
	=	0.08477	/	0.069846
	=	1.2137

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)
	=	(73.357 / 506.055)	/	(63.066 / 553.318)
	=	0.144959	/	0.113978
	=	1.2718

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 - (198.771 + 220.365) / 457.545)	/	(1 - (177.141 + 209.939) / 409.931)
	=	0.083946	/	0.055744
	=	1.5059

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
	=	553.318	/	506.055
	=	1.0934

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))
	=	(41.151 / (41.151 + 209.939))	/	(36.794 / (36.794 + 220.365))
	=	0.163889	/	0.143079
	=	1.1454

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)
	=	(137.05 / 553.318)	/	(125.409 / 506.055)
	=	0.247688	/	0.247817
	=	0.9995

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)
	=	((15.399 + 214.701) / 457.545)	/	((63.458 + 100.366) / 409.931)
	=	0.502901	/	0.399638
	=	1.2584

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
	=	(-46.017 - 46.215	-	-60.439)	/	457.545
	=	-0.069486

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.

Armstrong Flooring has a M-score of -2.25 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 0.00 mean?

Armstrong Flooring (STU:2AS) has a Beneish M-Score of 0.00 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Armstrong Flooring and its competitors.

Is Armstrong Flooring's Beneish M-Score too high?

Armstrong Flooring's current Beneish M-Score is 0.00. Overall, Armstrong Flooring has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.

How does Armstrong Flooring's Beneish M-Score compare to AEHL and CARR?

Armstrong Flooring's Beneish M-Score of 0.00 can be compared against companies in the Construction 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 Construction company?

A good Beneish M-Score depends on the Construction 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 Armstrong Flooring and its competitors. Armstrong Flooring's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Armstrong Flooring stock overvalued right now?

Armstrong Flooring (STU:2AS) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Armstrong Flooring's overall GF Score™ is 12/100. 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 Armstrong Flooring (STU:2AS), the current Beneish M-Score is 0.00 as of Jul. 05, 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.

Armstrong Flooring Business Description

Industry Industrials Construction

Comparable Companies AEHL TSE:6367 CARR XPAR:SGO XSWX:GEBN OSTO:NIBE B SZSE:002271 DUB:KRX MAS CSL HKSE:06865 BLDR HKSE:00868 WMS OC SZSE:000786 TREX OCSE:ROCK A TSE:5938 LPX

Address 1770 Hempstead Road, Lancaster, PA, USA, 17605

Website https://www.armstrongflooring.com

Armstrong Flooring Inc designs, manufactures, sources, and sells resilient and wood flooring products, which are primarily used for construction and renovation of residential, commercial, and institutional buildings. It operates through two segments namely Resilient Flooring and Wood Flooring. The Resilient Flooring provides a range of floor coverings for homes and commercial buildings under the Armstrong brand and the Wood Flooring segment provides hardwood flooring products under the Armstrong and Bruce brand names. Geographically, the group operates its business in the United States and also has its presence internationally, of which a majority of the revenue is derived from the United States.

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