Graco (STU:GA8) Beneish M-Score: -2.71 (As of Jul. 14, 2026)

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STU:GA8 Graco Inc STU:GA8
86 GF Score
Price €64.85
GF Value €78.63
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Graco Beneish M-Score?

Graco STU:GA8 86 Beneish M-Score is -2.71 as of Jul. 14, 2026. GuruFocus rates STU:GA8 with a GF Score™ of 86/100 and a GF Value™ of €78.63 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 2,912 Industrial Products companies, Graco ranks better than 73.08% 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 -2.71 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

STU:GA8' s Beneish M-Score Range Over the Past 10 Years
Min: -2.81   Med: -2.55   Max: -2.1
Current: -2.71

During the past 13 years, the highest Beneish M-Score of Graco was -2.10. The lowest was -2.81. And the median was -2.55.


Graco Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Graco'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.

Graco Beneish M-Score Chart

Graco Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.48 -2.14 -2.64 -2.59 -2.67

Graco 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 -2.47 -2.55 -2.56 -2.67 -2.71

STU:GA8 vs CR, PNR, WTS: Beneish M-Score Comparison

For the Specialty Industrial Machinery subindustry, Graco'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.


Graco Beneish M-Score vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Graco's Beneish M-Score distribution charts can be found below:

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


STU:GA8
86GF Score
Graco Inc STU:GA8
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Graco 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 Graco 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 * 1.0108+0.528 * 1.0084+0.404 * 1.0572+0.892 * 0.9689+0.115 * 0.8346
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9972+4.679 * -0.056634-0.327 * 1.0475
=-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 €338 Mil.
Revenue was 467.225 + 506.555 + 462.941 + 495.756 = €1,932 Mil.
Gross Profit was 242.754 + 261.918 + 246.42 + 259.693 = €1,011 Mil.
Total Current Assets was €1,355 Mil.
Total Assets was €2,885 Mil.
Property, Plant and Equipment(Net PPE) was €666 Mil.
Depreciation, Depletion and Amortization(DDA) was €96 Mil.
Selling, General, & Admin. Expense(SGA) was €420 Mil.
Total Current Liabilities was €381 Mil.
Long-Term Debt & Capital Lease Obligation was €15 Mil.
Net Income was 102.508 + 113.144 + 117.259 + 110.649 = €444 Mil.
Non Operating Income was 2.724 + 4.52 + 15.771 + 1.196 = €24 Mil.
Cash Flow from Operations was 104.015 + 167.665 + 152.643 + 158.39 = €583 Mil.
Total Receivables was €345 Mil.
Revenue was 488.663 + 523.982 + 467.81 + 513.963 = €1,994 Mil.
Gross Profit was 256.903 + 266.712 + 248.793 + 279.493 = €1,052 Mil.
Total Current Assets was €1,266 Mil.
Total Assets was €2,783 Mil.
Property, Plant and Equipment(Net PPE) was €729 Mil.
Depreciation, Depletion and Amortization(DDA) was €85 Mil.
Selling, General, & Admin. Expense(SGA) was €435 Mil.
Total Current Liabilities was €351 Mil.
Long-Term Debt & Capital Lease Obligation was €14 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)
=(337.667 / 1932.477) / (344.775 / 1994.418)
=0.174733 / 0.17287
=1.0108

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)
=(1051.901 / 1994.418) / (1010.785 / 1932.477)
=0.527423 / 0.523052
=1.0084

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 - (1355.079 + 666.283) / 2884.574) / (1 - (1266.325 + 728.672) / 2782.69)
=0.299251 / 0.283069
=1.0572

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
=1932.477 / 1994.418
=0.9689

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))
=(85.321 / (85.321 + 728.672)) / (95.693 / (95.693 + 666.283))
=0.104818 / 0.125585
=0.8346

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)
=(420.04 / 1932.477) / (434.706 / 1994.418)
=0.217358 / 0.217961
=0.9972

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)
=((15.142 + 381.104) / 2884.574) / ((13.742 + 351.171) / 2782.69)
=0.137367 / 0.131137
=1.0475

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
=(443.56 - 24.211 - 582.713) / 2884.574
=-0.056634

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.

Graco 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 -2.71 mean?
Graco (STU:GA8) has a Beneish M-Score of -2.71 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Graco and its competitors. According to the industry distribution chart, Graco ranks #784 out of 2912 companies in the Industrial Products industry, placing it in the top 26.9%.
Is Graco's Beneish M-Score too high?
Graco's current Beneish M-Score is -2.71. Based on the distribution chart, Graco ranks #784 out of 2912 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Graco has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Graco's Beneish M-Score compare to CR and PNR?
According to the Industrial Products industry distribution chart, Graco ranks #784 out of 2912 companies for Beneish M-Score. This puts Graco 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 an Industrial Products company?
A good Beneish M-Score depends on the Industrial Products 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 Graco and its competitors. Graco's current Beneish M-Score is -2.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Graco stock overvalued right now?
Based on GuruFocus' analysis, Graco (STU:GA8) is currently considered Modestly Undervalued. The stock's GF Value™ is €78.63, compared to a current price of €64.85 — trading 17.5% below its estimated fair value. The current Beneish M-Score is -2.71. Graco's overall GF Score™ is 86/100 with 1 warning sign 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 Graco (STU:GA8), the current Beneish M-Score is -2.71 as of Jul. 14, 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 Graco (STU:GA8) Overvalued in 2026?

Based on GuruFocus' analysis, Graco stock appears to be undervalued. The current stock price of €64.85 is trading 17.5% below its estimated GF Value™ of €78.63. GuruFocus considers Graco to be Modestly Undervalued.

Key valuation signals for STU:GA8:

  • Beneish M-Score: -2.71
  • GF Value™: €78.63 vs. price of €64.85 (17.5% below fair value)
  • GF Score™: 86/100 with 1 warning sign

No single metric tells the full story. See the STU:GA8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Graco Business Description

Other Exchanges GGG:USAGA8:Germany
Address 88 - 11th Avenue N.E, Minneapolis, MN, USA, 55413
Graco manufactures equipment used for managing fluids, coatings, and adhesives, specializing in difficult-to-handle materials. Graco's business is organized into three segments: industrial, process, and contractor. The Minnesota-based firm serves a wide range of end markets, including industrial, automotive, and construction, and its broad array of products include pumps, valves, meters, sprayers, and equipment used to apply coatings, sealants, and adhesives. The firm generated roughly $2.2 billion in sales in 2025.
86GF Score

Get the complete analysis for STU:GA8

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

€64.85
Price
€78.63
GF Value