UFPI (UFP Industries) Beneish M-Score: -2.84 (As of Jun. 25, 2026)

What is UFP Industries Beneish M-Score?

UFP Industries UFPI +6.88% 75 Beneish M-Score is -2.84 as of Jun. 25, 2026. GuruFocus rates UFPI with a GF Score™ of 75/100 and a GF Value™ of $103.40 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 273 Forest Products companies, UFP Industries ranks better than 78.39% 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 -2.84 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

UFPI' s Beneish M-Score Range Over the Past 10 Years
Min: -3.22 Med: -2.62 Max: -1.35
Current: -2.84

During the past 13 years, the highest Beneish M-Score of UFP Industries was -1.35. The lowest was -3.22. And the median was -2.62.

UFP Industries Beneish M-Score Related Terms

UFP Industries Beneish M-Score Historical Data

* Premium members only.

The historical data trend for UFP Industries'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.

UFP Industries Beneish M-Score Chart

UFP Industries Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-1.92

-2.70

-3.09

-2.77

-2.71

UFP Industries 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															-2.59	-2.60	-2.71	-2.71	-2.84

UFPI vs BCC, SSD, JCTC: Beneish M-Score Comparison

For the Lumber & Wood Production subindustry, UFP Industries'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.

UFP Industries Beneish M-Score vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, UFP Industries's Beneish M-Score distribution charts can be found below:

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

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75GF Score

UFP Industries Inc UFPI

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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UFP Industries 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 UFP Industries for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9974

0.528 * 1.0645

0.404 * 1.0171

0.892 * 0.936

0.115 * 1.0025

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0214

4.679 * -0.06993

0.327 * 1.0238

-2.84

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $667 Mil.
Revenue was 1461.267 + 1329.823 + 1559.627 + 1835.374 = $6,186 Mil.
Gross Profit was 235.889 + 216.539 + 262.681 + 312.734 = $1,028 Mil.
Total Current Assets was $2,270 Mil.
Total Assets was $4,032 Mil.
Property, Plant and Equipment(Net PPE) was $1,123 Mil.
Depreciation, Depletion and Amortization(DDA) was $163 Mil.
Selling, General, & Admin. Expense(SGA) was $688 Mil.
Total Current Liabilities was $489 Mil.
Long-Term Debt & Capital Lease Obligation was $329 Mil.
Net Income was 50.774 + 39.959 + 75.346 + 100.734 = $267 Mil.
Non Operating Income was 1.128 + 2.721 + -2.18 + -3.835 = $-2 Mil.
Cash Flow from Operations was -103.619 + 146.615 + 285.984 + 221.945 = $551 Mil.

Total Receivables was $715 Mil.
Revenue was 1595.519 + 1462.001 + 1649.383 + 1901.959 = $6,609 Mil.
Gross Profit was 268.196 + 239.509 + 298.412 + 362.743 = $1,169 Mil.
Total Current Assets was $2,464 Mil.
Total Assets was $4,150 Mil.
Property, Plant and Equipment(Net PPE) was $1,039 Mil.
Depreciation, Depletion and Amortization(DDA) was $151 Mil.
Selling, General, & Admin. Expense(SGA) was $719 Mil.
Total Current Liabilities was $497 Mil.
Long-Term Debt & Capital Lease Obligation was $326 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)
	=	(667.34 / 6186.091)	/	(714.809 / 6608.862)
	=	0.107877	/	0.108159
	=	0.9974

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)
	=	(1168.86 / 6608.862)	/	(1027.843 / 6186.091)
	=	0.176863	/	0.166154
	=	1.0645

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 - (2269.74 + 1123.376) / 4031.814)	/	(1 - (2464.391 + 1039.482) / 4150.286)
	=	0.158415	/	0.155751
	=	1.0171

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
	=	6186.091	/	6608.862
	=	0.936

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))
	=	(151.019 / (151.019 + 1039.482))	/	(162.748 / (162.748 + 1123.376))
	=	0.126853	/	0.126541
	=	1.0025

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)
	=	(687.637 / 6186.091)	/	(719.241 / 6608.862)
	=	0.111159	/	0.10883
	=	1.0214

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)
	=	((329.28 + 488.922) / 4031.814)	/	((326.154 + 496.526) / 4150.286)
	=	0.202936	/	0.198222
	=	1.0238

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
	=	(266.813 - -2.166	-	550.925)	/	4031.814
	=	-0.06993

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.

UFP Industries has a M-score of -2.84 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 -2.84 mean?

UFP Industries (UFPI) has a Beneish M-Score of -2.84 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on UFP Industries and its competitors. According to the industry distribution chart, UFP Industries ranks #59 out of 273 companies in the Forest Products industry, placing it in the top 21.6%.

Is UFP Industries' Beneish M-Score too high?

UFP Industries' current Beneish M-Score is -2.84. Based on the distribution chart, UFP Industries ranks #59 out of 273 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers. Overall, UFP Industries has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does UFP Industries' Beneish M-Score compare to BCC and SSD?

According to the Forest Products industry distribution chart, UFP Industries ranks #59 out of 273 companies for Beneish M-Score. This places UFP Industries in the top 22% 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 Forest Products company?

A good Beneish M-Score depends on the Forest 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 UFP Industries and its competitors. UFP Industries's current Beneish M-Score is -2.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is UFP Industries stock overvalued right now?

Based on GuruFocus' analysis, UFP Industries (UFPI) is currently considered Modestly Undervalued. The stock's GF Value™ is $103.40, compared to a current price of $89.84 — trading 13.1% below its estimated fair value. The current Beneish M-Score is -2.84. UFP Industries' overall GF Score™ is 75/100 with 3 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 UFP Industries (UFPI), the current Beneish M-Score is -2.84 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 UFP Industries (UFPI) Overvalued in 2026?

Based on GuruFocus' analysis, UFP Industries stock appears to be undervalued. The current stock price of $89.84 is trading 13.1% below its estimated GF Value™ of $103.40. GuruFocus considers UFP Industries to be Modestly Undervalued.

Key valuation signals for UFPI:

Beneish M-Score: -2.84
GF Value™: $103.40 vs. price of $89.84 (13.1% below fair value)
GF Score™: 75/100 with 3 warning signs

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

UFP Industries Business Description

Industry Basic Materials Forest Products

Comparable Companies BCC SSD JCTC TSX:WFG TSX:SJ SZSE:000592 BOM:532548 SZSE:002043 TSX:CFP XLIS:COR BSP:DXCO3 SHSE:600076 TSX:IFP SZSE:000910 SHSE:600265 SHSE:601996 XTER:ST5 ISX:SINI TPE:6655 BOM:526797

Other Exchanges UF3:Germany

Address 2801 East Beltline, N.E, Grand Rapids, MI, USA, 49525

Website https://www.ufpi.com

UFP Industries Inc is a supplier of lumber to the manufactured housing industry. Today UFP Industries is a multibillion-dollar holding company with subsidiaries around the globe that serve three markets: retail, packaging and construction. Its business segments consist of UFP Retail Solutions, UFP Packaging, UFP Construction, All other and Corporate. It describes itself as an innovation company, a logistics company, a design company, an engineering and value-added product and solutions company.

75GF Score

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

$89.84

Price

$103.40

GF Value

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