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SaputoTSX:SAP +1.53%68 Beneish M-Score is -2.98 as of Jul. 16, 2026. GuruFocus rates TSX:SAP with a GF Score™ of 68/100 and a GF Value™ of C$29.17 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,851 Consumer Packaged Goods companies, Saputo ranks better than 82.28% 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 -2.98 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Saputo's Beneish M-Score or its related term are showing as below:
TSX:SAP'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.98 Med: -2.58 Max: -2.28
Current: -2.98
During the past 13 years, the highest Beneish M-Score of Saputo was -2.28. The lowest was -2.98. And the median was -2.58.
Saputo Beneish M-Score Related Terms
Saputo Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Saputo'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.
For the Packaged Foods subindustry, Saputo'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.
Saputo Beneish M-Score vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Saputo's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Saputo's Beneish M-Score falls into.
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 Saputo 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 * 0.869
+
0.528 * 0.9291
+
0.404 * 0.9664
+
0.892 * 0.9853
+
0.115 * 0.9292
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0667
+
4.679 * -0.062766
-
0.327 * 1.0007
=
-2.98
* 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.
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.
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))
=
(605 / (605 + 5196))
/
(598 / (598 + 4730))
=
0.104292
/
0.112237
=
0.9292
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
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
=
(672 - 18
-
1508)
/
13606
=
-0.062766
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.
Saputo has a M-score of -2.98 suggests that the company is unlikely to be a manipulator.
Saputo (TSX:SAP) has a Beneish M-Score of -2.98 as of Jul. 16, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Saputo and its competitors. According to the industry distribution chart, Saputo ranks #328 out of 1851 companies in the Consumer Packaged Goods industry, placing it in the top 17.7%.
Is Saputo's Beneish M-Score too high?
Saputo's current Beneish M-Score is -2.98. Based on the distribution chart, Saputo ranks #328 out of 1851 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Saputo has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Saputo's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Saputo ranks #328 out of 1851 companies for Beneish M-Score. This places Saputo in the top 18% of its industry — outperforming the majority of peers. 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Saputo and its competitors. Saputo's current Beneish M-Score is -2.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Saputo stock overvalued right now?
Based on GuruFocus' analysis, Saputo (TSX:SAP) is currently considered Significantly Overvalued. The stock's GF Value™ is C$29.17, compared to a current price of C$41.20 — trading 41.2% above its estimated fair value. The current Beneish M-Score is -2.98. Saputo's overall GF Score™ is 68/100 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 Saputo (TSX:SAP), the current Beneish M-Score is -2.98 as of Jul. 16, 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 Saputo (TSX:SAP) Overvalued in 2026?
Based on GuruFocus' analysis, Saputo stock appears to be overvalued.
The current stock price of C$41.20 is trading 41.2% above its estimated GF Value™ of C$29.17.
GuruFocus considers Saputo to be Significantly Overvalued.
Key valuation signals for TSX:SAP:
Beneish M-Score: -2.98
GF Value™: C$29.17 vs. price of C$41.20 (41.2% above fair value)
No single metric tells the full story. See the TSX:SAP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Saputo Inc produces, markets, and distributes dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products, and dairy ingredients. The Company is a cheese manufacturer and fluid milk and cream processor in Canada, a dairy processor in Australia, a cheese producer and extended shelf-life and cultured dairy products manufacturer in the USA, and a manufacturer of branded cheese and dairy spreads in the UK. Its cheese products are sold under various brand names, including Saputo, Armstrong, Alexis de Portneuf, Bari, Cogruet, DuVillage 1860, Kingsey, and Shepherd Gourmet Dairy. The Company operates through four divisions: Canada Sector, USA Sector, International Sector, and Europe Sector, with the USA Sector generating the maximum revenue.
68GF Score
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