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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 -3.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Vermilion Energy's Beneish M-Score or its related term are showing as below:
TSX:VET'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.99 Med: -2.99 Max: -1.76
Current: -3.02
During the past 13 years, the highest Beneish M-Score of Vermilion Energy was -1.76. The lowest was -3.99. And the median was -2.99.
Vermilion Energy Beneish M-Score Related Terms
Vermilion Energy Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Vermilion Energy'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.
TSX:VET vs COP, EOG, FANG: Beneish M-Score Comparison
For the Oil & Gas E&P subindustry, Vermilion Energy'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.
Vermilion Energy Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Vermilion Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Vermilion Energy'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 Vermilion Energy 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 * 0.7658
+
0.528 * 1.0541
+
0.404 * 1.546
+
0.892 * 1.135
+
0.115 * 0.9212
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.8332
+
4.679 * -0.153491
-
0.327 * 0.9971
=
-3.02
* 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))
=
(681.194 / (681.194 + 6425.868))
/
(566.999 / (566.999 + 4882.369))
=
0.095847
/
0.104049
=
0.9212
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
=
(-814.092 - -626.027
-
663.277)
/
5546.526
=
-0.153491
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.
Vermilion Energy has a M-score of -3.02 suggests that the company is unlikely to be a manipulator.
Vermilion Energy (TSX:VET) has a Beneish M-Score of -3.02 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vermilion Energy and its competitors. According to the industry distribution chart, Vermilion Energy ranks #231 out of 823 companies in the Oil & Gas industry, placing it in the top 28.1%.
Is Vermilion Energy's Beneish M-Score too high?
Vermilion Energy's current Beneish M-Score is -3.02. Based on the distribution chart, Vermilion Energy ranks #231 out of 823 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Vermilion Energy has a GF Score™ of 59/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Vermilion Energy's Beneish M-Score compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Vermilion Energy ranks #231 out of 823 companies for Beneish M-Score. This puts Vermilion Energy 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 Oil & Gas company?
A good Beneish M-Score depends on the Oil & Gas 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 Vermilion Energy and its competitors. Vermilion Energy's current Beneish M-Score is -3.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vermilion Energy stock overvalued right now?
Based on GuruFocus' analysis, Vermilion Energy (TSX:VET) is currently considered Fairly Valued. The stock's GF Value™ is C$13.91, compared to a current price of C$13.80 — trading 0.8% below its estimated fair value. The current Beneish M-Score is -3.02. Vermilion Energy's overall GF Score™ is 59/100 with 6 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 Vermilion Energy (TSX:VET), the current Beneish M-Score is -3.02 as of Jul. 13, 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 Vermilion Energy (TSX:VET) Overvalued in 2026?
Based on GuruFocus' analysis, Vermilion Energy stock appears to be undervalued.
The current stock price of C$13.80 is trading 0.8% below its estimated GF Value™ of C$13.91.
GuruFocus considers Vermilion Energy to be Fairly Valued.
Key valuation signals for TSX:VET:
Beneish M-Score: -3.02
GF Value™: C$13.91 vs. price of C$13.80 (0.8% below fair value)
No single metric tells the full story. See the TSX:VET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vermilion Energy Inc is an international oil and gas-producing company. The company engages in full-cycle exploration and production programs that focus on the acquisition, exploration, and development of liquids-rich natural gas in Canada and conventional natural gas in Europe while optimizing low-decline oil assets. Its operating segments are: Canada, France, Netherlands, Germany, Ireland, Australia, and CEE, each representing the oil and gas exploration operations at its assets located in these regions. The company mainly derives revenue from the production and sale of petroleum and natural gas. The majority of its revenue is generated from Canada, where the company's operations are mainly focused on the Deep Basin trend in the West Pembina region of Alberta and on the Mica property.
59GF Score
Get the complete analysis for TSX:VET
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