URBN (Urban Outfitters) Beneish M-Score: -2.40 (As of Jun. 25, 2026)


URBN Urban Outfitters Inc URBN
87 GF Score
Price $72.32
GF Value $59.64
Valuation Modestly Overvalued
! 1 Warning Sign
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What is Urban Outfitters Beneish M-Score?

Urban Outfitters URBN +1.87% 87 Beneish M-Score is -2.40 as of Jun. 25, 2026. GuruFocus rates URBN with a GF Score™ of 87/100 and a GF Value™ of $59.64 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 1,087 Retail - Cyclical companies, Urban Outfitters ranks worse than 63.57% 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

URBN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.3   Med: -2.63   Max: -1.52
Current: -2.4

During the past 13 years, the highest Beneish M-Score of Urban Outfitters was -1.52. The lowest was -3.30. And the median was -2.63.


Urban Outfitters Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Urban Outfitters'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.

Urban Outfitters Beneish M-Score Chart

Urban Outfitters Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.60 -2.35 -2.44 -2.46 -2.32

Urban Outfitters Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 -2.44 -2.45 -2.59 -2.32 -2.40

URBN vs BOOT, GAP, VSCO: Beneish M-Score Comparison

For the Apparel Retail subindustry, Urban Outfitters'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.


Urban Outfitters Beneish M-Score vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Urban Outfitters's Beneish M-Score distribution charts can be found below:

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


URBN
87GF Score
Urban Outfitters Inc URBN
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Urban Outfitters 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 Urban Outfitters 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 * 1.1174+0.528 * 0.9831+0.404 * 0.7647+0.892 * 1.1123+0.115 * 0.9945
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0049+4.679 * -0.007634-0.327 * 0.9752
=-2.40

* 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 (Apr26) TTM:Last Year (Apr25) TTM:
Total Receivables was $116 Mil.
Revenue was 1481.345 + 1801.77 + 1529.35 + 1504.755 = $6,317 Mil.
Gross Profit was 542.566 + 599.201 + 563.327 + 566.161 = $2,271 Mil.
Total Current Assets was $1,537 Mil.
Total Assets was $4,765 Mil.
Property, Plant and Equipment(Net PPE) was $2,658 Mil.
Depreciation, Depletion and Amortization(DDA) was $135 Mil.
Selling, General, & Admin. Expense(SGA) was $1,654 Mil.
Total Current Liabilities was $1,041 Mil.
Long-Term Debt & Capital Lease Obligation was $980 Mil.
Net Income was 115.705 + 96.267 + 116.44 + 143.865 = $472 Mil.
Non Operating Income was 6.185 + -72.189 + 8.126 + 8.886 = $-49 Mil.
Cash Flow from Operations was 15.484 + 263.005 + 61.139 + 218.014 = $558 Mil.
Total Receivables was $93 Mil.
Revenue was 1329.501 + 1636.12 + 1361.855 + 1351.959 = $5,679 Mil.
Gross Profit was 489.064 + 527.681 + 497.319 + 493.285 = $2,007 Mil.
Total Current Assets was $1,439 Mil.
Total Assets was $4,457 Mil.
Property, Plant and Equipment(Net PPE) was $2,320 Mil.
Depreciation, Depletion and Amortization(DDA) was $117 Mil.
Selling, General, & Admin. Expense(SGA) was $1,480 Mil.
Total Current Liabilities was $1,029 Mil.
Long-Term Debt & Capital Lease Obligation was $909 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)
=(115.903 / 6317.22) / (93.248 / 5679.435)
=0.018347 / 0.016419
=1.1174

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)
=(2007.349 / 5679.435) / (2271.255 / 6317.22)
=0.353442 / 0.359534
=0.9831

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 - (1536.648 + 2657.832) / 4764.768) / (1 - (1439.059 + 2320.388) / 4457.076)
=0.119689 / 0.156522
=0.7647

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
=6317.22 / 5679.435
=1.1123

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))
=(117.218 / (117.218 + 2320.388)) / (135.044 / (135.044 + 2657.832))
=0.048087 / 0.048353
=0.9945

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)
=(1654.167 / 6317.22) / (1479.982 / 5679.435)
=0.26185 / 0.260586
=1.0049

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)
=((979.6 + 1041.004) / 4764.768) / ((909.168 + 1029.058) / 4457.076)
=0.424072 / 0.434865
=0.9752

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
=(472.277 - -48.992 - 557.642) / 4764.768
=-0.007634

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.

Urban Outfitters has a M-score of -2.40 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 -2.40 mean?
Urban Outfitters (URBN) has a Beneish M-Score of -2.40 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Urban Outfitters and its competitors. According to the industry distribution chart, Urban Outfitters ranks #691 out of 1087 companies in the Retail - Cyclical industry, placing it in the top 63.6%.
Is Urban Outfitters' Beneish M-Score too high?
Urban Outfitters' current Beneish M-Score is -2.40. Based on the distribution chart, Urban Outfitters ranks #691 out of 1087 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Urban Outfitters has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Urban Outfitters' Beneish M-Score compare to BOOT and GAP?
According to the Retail - Cyclical industry distribution chart, Urban Outfitters ranks #691 out of 1087 companies for Beneish M-Score. This places Urban Outfitters 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 Retail - Cyclical company?
A good Beneish M-Score depends on the Retail - Cyclical 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 Urban Outfitters and its competitors. Urban Outfitters's current Beneish M-Score is -2.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Urban Outfitters stock overvalued right now?
Based on GuruFocus' analysis, Urban Outfitters (URBN) is currently considered Modestly Overvalued. The stock's GF Value™ is $59.64, compared to a current price of $72.32 — trading 21.3% above its estimated fair value. The current Beneish M-Score is -2.40. Urban Outfitters' overall GF Score™ is 87/100 with 1 warning sign 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 Urban Outfitters (URBN), the current Beneish M-Score is -2.40 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 Urban Outfitters (URBN) Overvalued in 2026?

Based on GuruFocus' analysis, Urban Outfitters stock appears to be overvalued. The current stock price of $72.32 is trading 21.3% above its estimated GF Value™ of $59.64. GuruFocus considers Urban Outfitters to be Modestly Overvalued.

Key valuation signals for URBN:

  • Beneish M-Score: -2.40
  • GF Value™: $59.64 vs. price of $72.32 (21.3% above fair value)
  • GF Score™: 87/100 with 1 warning sign

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


Urban Outfitters Business Description

Other Exchanges URBN:MexicoURBN:Argentina
Address 5000 South Broad Street, Philadelphia, PA, USA, 19112-1495
Founded in 1970, Philadelphia-based Urban Outfitters is a multibrand apparel and home goods retailer that operates nearly 800 stores and e-commerce in the US, which accounts for about 87% of sales, as well as in other regions. Its retail nameplates are Urban Outfitters (22% of fiscal 2026 sales), Free People/Movement (26%), and Anthropologie (42%). Retail accounted for 86% of fiscal 2026 revenue, but Urban Outfitters also sells products through a wholesale operation, owns some restaurants, and operates a fast-growing clothing rental and resale business called Nuuly (9% of sales). Urban Outfitters primarily markets to young adults and offers products across apparel (66% of sales), home goods (16% of sales), accessories (13% of sales), and more.
87GF Score

Get the complete analysis for URBN

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

$72.32
Price
$59.64
GF Value