TRS (TriMas) Beneish M-Score: -1.33 (As of Jun. 25, 2026)


TRS TriMas Corp TRS
61 GF Score
Price $44.63
GF Value $24.78
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is TriMas Beneish M-Score?

TriMas TRS +2.36% 61 Beneish M-Score is -1.33 as of Jun. 25, 2026. GuruFocus rates TRS with a GF Score™ of 61/100 and a GF Value™ of $24.78 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 373 Packaging & Containers companies, TriMas ranks worse than 88.74% 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.

Warning Sign:

Beneish M-Score -1.33 higher than -1.78, which implies that the company might have manipulated its financial results.

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

TRS' s Beneish M-Score Range Over the Past 10 Years
Min: -2.85   Med: -2.59   Max: -1.33
Current: -1.33

During the past 13 years, the highest Beneish M-Score of TriMas was -1.33. The lowest was -2.85. And the median was -2.59.


TriMas Beneish M-Score Historical Data

* Premium members only.

The historical data trend for TriMas'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.

TriMas Beneish M-Score Chart

TriMas 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 -2.71 -2.50 -2.41 -2.74 -2.61

TriMas 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 -2.40 -2.41 -2.49 -2.61 -1.33

TRS vs OI, MYE, PACK: Beneish M-Score Comparison

For the Packaging & Containers subindustry, TriMas'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.


TriMas Beneish M-Score vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, TriMas's Beneish M-Score distribution charts can be found below:

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


TRS
61GF Score
TriMas Corp TRS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TriMas 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 TriMas 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 * 0.6798+0.528 * 0.9563+0.404 * 0.4592+0.892 * 1.0291+0.115 * 0.8803
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1507+4.679 * 0.344134-0.327 * 0.7205
=-1.33

* 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 $128.6 Mil.
Revenue was 168.28 + -139.97 + 269.26 + 274.76 = $572.3 Mil.
Gross Profit was 36.87 + -54.5 + 65.91 + 69.72 = $118.0 Mil.
Total Current Assets was $1,589.9 Mil.
Total Assets was $2,297.1 Mil.
Property, Plant and Equipment(Net PPE) was $282.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $57.7 Mil.
Selling, General, & Admin. Expense(SGA) was $118.8 Mil.
Total Current Liabilities was $327.5 Mil.
Long-Term Debt & Capital Lease Obligation was $432.1 Mil.
Net Income was 800.83 + 81.7 + 9.3 + 16.72 = $908.6 Mil.
Non Operating Income was 0.9 + 36.78 + -8.28 + -0.25 = $29.2 Mil.
Cash Flow from Operations was -19.38 + 41.52 + 36.49 + 30.25 = $88.9 Mil.
Total Receivables was $183.8 Mil.
Revenue was 152.46 + -66.16 + 229.36 + 240.5 = $556.2 Mil.
Gross Profit was 32.83 + -28.88 + 51.7 + 54.01 = $109.7 Mil.
Total Current Assets was $464.9 Mil.
Total Assets was $1,393.8 Mil.
Property, Plant and Equipment(Net PPE) was $367.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $64.6 Mil.
Selling, General, & Admin. Expense(SGA) was $100.3 Mil.
Total Current Liabilities was $164.9 Mil.
Long-Term Debt & Capital Lease Obligation was $474.7 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)
=(128.61 / 572.33) / (183.84 / 556.16)
=0.224713 / 0.330552
=0.6798

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)
=(109.66 / 556.16) / (118 / 572.33)
=0.197173 / 0.206175
=0.9563

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 - (1589.94 + 282.12) / 2297.13) / (1 - (464.91 + 367.23) / 1393.75)
=0.185044 / 0.402949
=0.4592

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
=572.33 / 556.16
=1.0291

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))
=(64.56 / (64.56 + 367.23)) / (57.72 / (57.72 + 282.12))
=0.149517 / 0.169845
=0.8803

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)
=(118.76 / 572.33) / (100.29 / 556.16)
=0.207503 / 0.180326
=1.1507

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)
=((432.09 + 327.52) / 2297.13) / ((474.71 + 164.93) / 1393.75)
=0.330678 / 0.458935
=0.7205

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
=(908.55 - 29.15 - 88.88) / 2297.13
=0.344134

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.

TriMas has a M-score of -1.33 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.33 mean?
TriMas (TRS) has a Beneish M-Score of -1.33 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on TriMas and its competitors. According to the industry distribution chart, TriMas ranks #331 out of 373 companies in the Packaging & Containers industry, placing it in the top 88.7%.
Is TriMas' Beneish M-Score too high?
TriMas' current Beneish M-Score is -1.33. Based on the distribution chart, TriMas ranks #331 out of 373 companies in the Packaging & Containers industry, which is in the bottom quartile relative to peers. Overall, TriMas has a GF Score™ of 61/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TriMas' Beneish M-Score compare to OI and MYE?
According to the Packaging & Containers industry distribution chart, TriMas ranks #331 out of 373 companies for Beneish M-Score. This places TriMas in the lower 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 Packaging & Containers company?
A good Beneish M-Score depends on the Packaging & Containers 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 TriMas and its competitors. TriMas's current Beneish M-Score is -1.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TriMas stock overvalued right now?
Based on GuruFocus' analysis, TriMas (TRS) is currently considered Significantly Overvalued. The stock's GF Value™ is $24.78, compared to a current price of $44.63 — trading 80.1% above its estimated fair value. The current Beneish M-Score is -1.33. TriMas' overall GF Score™ is 61/100 with 9 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 TriMas (TRS), the current Beneish M-Score is -1.33 as of Jun. 25, 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 TriMas (TRS) Overvalued in 2026?

Based on GuruFocus' analysis, TriMas stock appears to be overvalued. The current stock price of $44.63 is trading 80.1% above its estimated GF Value™ of $24.78. GuruFocus considers TriMas to be Significantly Overvalued.

Key valuation signals for TRS:

  • Beneish M-Score: -1.33
  • GF Value™: $24.78 vs. price of $44.63 (80.1% above fair value)
  • GF Score™: 61/100 with 9 warning signs

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


TriMas Business Description

Address 38505 Woodward Avenue, Suite 200, Bloomfield Hills, MI, USA, 48304
TriMas Corp designs, develops and manufactures a diverse set of products for the consumer products, and industrial markets . The company operates through two segments namely: The packaging segment manufactures and distributes closure and dispensing systems. The specialty product segment manufactures and distributes steel cylinders, wellhead engines, compression systems, industrial sealing, and fasteners. The packaging segment generates majority of its revenue.
61GF Score

Get the complete analysis for TRS

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

$44.63
Price
$24.78
GF Value