Perrigo Co (STU:PIG) Beneish M-Score: -2.72 (As of Jun. 24, 2026)


STU:PIG Perrigo Co PLC STU:PIG
42 GF Score
Price €8.58
GF Value €21.90
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Perrigo Co Beneish M-Score?

Perrigo Co STU:PIG +3.27% 42 Beneish M-Score is -2.72 as of Jun. 24, 2026. GuruFocus rates STU:PIG with a GF Score™ of 42/100 and a GF Value™ of €21.90 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 911 Drug Manufacturers companies, Perrigo Co ranks better than 70.03% 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 -2.72 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

STU:PIG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.23   Med: -2.62   Max: -2.24
Current: -2.72

During the past 13 years, the highest Beneish M-Score of Perrigo Co was -2.24. The lowest was -3.23. And the median was -2.62.


Perrigo Co Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Perrigo Co'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.

Perrigo Co Beneish M-Score Chart

Perrigo Co 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 -2.41 -2.47 -2.63 -2.73 -2.73

Perrigo Co 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 -2.68 -2.63 -2.71 -2.73 -2.72

STU:PIG vs AMLX, HROW, ANIP: Beneish M-Score Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Perrigo Co'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.


Perrigo Co Beneish M-Score vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Perrigo Co's Beneish M-Score distribution charts can be found below:

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


STU:PIG
42GF Score
Perrigo Co PLC STU:PIG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Perrigo Co 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 Perrigo Co 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 * 1.0188+0.528 * 1.0641+0.404 * 0.8419+0.892 * 0.8927+0.115 * 0.9398
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9952+4.679 * -0.023405-0.327 * 1.2104
=-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 €603 Mil.
Revenue was 838.358 + 947.598 + 888.892 + 915.812 = €3,591 Mil.
Gross Profit was 281.557 + 309.319 + 321.289 + 314.634 = €1,227 Mil.
Total Current Assets was €2,346 Mil.
Total Assets was €6,906 Mil.
Property, Plant and Equipment(Net PPE) was €900 Mil.
Depreciation, Depletion and Amortization(DDA) was €293 Mil.
Selling, General, & Admin. Expense(SGA) was €896 Mil.
Total Current Liabilities was €863 Mil.
Long-Term Debt & Capital Lease Obligation was €3,132 Mil.
Net Income was -344.789 + -1211.057 + 6.39 + -7.283 = €-1,557 Mil.
Non Operating Income was -347.124 + -1172.371 + -25.901 + -11.098 = €-1,556 Mil.
Cash Flow from Operations was -98.264 + 149.792 + 44.048 + 65.805 = €161 Mil.
Total Receivables was €663 Mil.
Revenue was 965.607 + 1087.077 + 979.838 + 989.85 = €4,022 Mil.
Gross Profit was 362.877 + 368.535 + 364.364 + 366.676 = €1,462 Mil.
Total Current Assets was €2,343 Mil.
Total Assets was €9,028 Mil.
Property, Plant and Equipment(Net PPE) was €1,002 Mil.
Depreciation, Depletion and Amortization(DDA) was €301 Mil.
Selling, General, & Admin. Expense(SGA) was €1,008 Mil.
Total Current Liabilities was €993 Mil.
Long-Term Debt & Capital Lease Obligation was €3,322 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)
=(602.991 / 3590.66) / (663.04 / 4022.372)
=0.167933 / 0.164838
=1.0188

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)
=(1462.452 / 4022.372) / (1226.799 / 3590.66)
=0.363579 / 0.341664
=1.0641

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 - (2346.226 + 899.6) / 6905.554) / (1 - (2343.025 + 1002.052) / 9027.815)
=0.529969 / 0.62947
=0.8419

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
=3590.66 / 4022.372
=0.8927

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))
=(300.831 / (300.831 + 1002.052)) / (292.996 / (292.996 + 899.6))
=0.230896 / 0.245679
=0.9398

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)
=(895.867 / 3590.66) / (1008.409 / 4022.372)
=0.249499 / 0.2507
=0.9952

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)
=((3132.251 + 862.924) / 6905.554) / ((3321.952 + 993.265) / 9027.815)
=0.578545 / 0.477991
=1.2104

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
=(-1556.739 - -1556.494 - 161.381) / 6905.554
=-0.023405

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.

Perrigo Co 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 -2.72 mean?
Perrigo Co (STU:PIG) has a Beneish M-Score of -2.72 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Perrigo Co and its competitors. According to the industry distribution chart, Perrigo Co ranks #273 out of 911 companies in the Drug Manufacturers industry, placing it in the top 30%.
Is Perrigo Co's Beneish M-Score too high?
Perrigo Co's current Beneish M-Score is -2.72. Based on the distribution chart, Perrigo Co ranks #273 out of 911 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Perrigo Co has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Perrigo Co's Beneish M-Score compare to AMLX and HROW?
According to the Drug Manufacturers industry distribution chart, Perrigo Co ranks #273 out of 911 companies for Beneish M-Score. This puts Perrigo Co 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 Drug Manufacturers company?
A good Beneish M-Score depends on the Drug Manufacturers 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 Perrigo Co and its competitors. Perrigo Co's current Beneish M-Score is -2.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Perrigo Co stock overvalued right now?
Based on GuruFocus' analysis, Perrigo Co (STU:PIG) is currently considered Possible Value Trap. The stock's GF Value™ is €21.90, compared to a current price of €8.58 — trading 60.8% below its estimated fair value. The current Beneish M-Score is -2.72. Perrigo Co's overall GF Score™ is 42/100 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 Perrigo Co (STU:PIG), the current Beneish M-Score is -2.72 as of Jun. 24, 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 Perrigo Co (STU:PIG) Overvalued in 2026?

Based on GuruFocus' analysis, Perrigo Co stock appears to be undervalued. The current stock price of €8.58 is trading 60.8% below its estimated GF Value™ of €21.90. GuruFocus considers Perrigo Co to be Possible Value Trap.

Key valuation signals for STU:PIG:

  • Beneish M-Score: -2.72
  • GF Value™: €21.90 vs. price of €8.58 (60.8% below fair value)
  • GF Score™: 42/100 with 4 warning signs

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


Perrigo Co Business Description

Address The Sharp Building, Hogan Place, Dublin, IRL, D02 TY74
Perrigo is one of the largest consumer health companies in the world. Since 2018, Perrigo has divested its animal health and generic pharmaceuticals businesses to solely focus on consumer self-care. In North America (two-thirds of total sales), the firm's product mix is anchored in private-label consumer health goods, which are sold to major retailers like Walmart, Amazon, Costco, and CVS. Perrigo also plays in Europe, Australia, and parts of Asia where it primarily generates revenue through its national brands, including Compeed, Solpadeine, Coldrex, and ellaOne.
42GF Score

Get the complete analysis for STU:PIG

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

€8.58
Price
€21.90
GF Value