WEBC (Webco Industries) Beneish M-Score: 0.00 (As of Jun. 25, 2026)

What is Webco Industries Beneish M-Score?

Webco Industries WEBC -0.48% 12 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates WEBC with a GF Score™ of 12/100.

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.

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

During the past 13 years, the highest Beneish M-Score of Webco Industries was 0.00. The lowest was 0.00. And the median was 0.00.

Webco Industries Beneish M-Score Related Terms

Webco Industries Beneish M-Score Historical Data

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The historical data trend for Webco 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.

Webco Industries Beneish M-Score Chart

Webco Industries Annual Data

Trend

Jul05

Jul06

Jul12

Jul13

Jul14

Jul15

Jul16

Jul17

Jul18

Jul23

Beneish M-Score

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-2.71

-3.28

-1.34

-1.99

-2.10

Webco Industries Semi-Annual Data
	Jul95	Jul96	Jul97	Jul98	Jul99	Jul00	Jul01	Jul02	Jul03	Jul04	Jul05	Jul06	Jul12	Jul13	Jul14	Jul15	Jul16	Jul17	Jul18	Jul23
Beneish M-Score	Get a 7-Day Free Trial															-2.71	-3.28	-1.34	-1.99	-2.10

WEBC vs ACNT, FRD, LUD: Beneish M-Score Comparison

For the Steel subindustry, Webco 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.

Webco Industries Beneish M-Score vs Steel Industry

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

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

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Webco Industries Inc WEBC

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Webco 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 Webco 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 * 0.6522

0.528 * 1.0686

0.404 * 2.8407

0.892 * 1.3727

0.115 * 1.4326

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8804

4.679 * -0.11626

0.327 * 0.8185

-2.10

This Year (Jul23) TTM:

Last Year (Jul18) TTM:

Total Receivables was $68.5 Mil.
Revenue was $686.9 Mil.
Gross Profit was $89.4 Mil.
Total Current Assets was $301.1 Mil.
Total Assets was $483.7 Mil.
Property, Plant and Equipment(Net PPE) was $169.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $13.7 Mil.
Selling, General, & Admin. Expense(SGA) was $50.5 Mil.
Total Current Liabilities was $142.1 Mil.
Long-Term Debt & Capital Lease Obligation was $39.1 Mil.
Net Income was $26.6 Mil.
Gross Profit was $0.0 Mil.
Cash Flow from Operations was $82.9 Mil.

Total Receivables was $76.5 Mil.
Revenue was $500.4 Mil.
Gross Profit was $69.6 Mil.
Total Current Assets was $261.7 Mil.
Total Assets was $369.5 Mil.
Property, Plant and Equipment(Net PPE) was $104.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $12.5 Mil.
Selling, General, & Admin. Expense(SGA) was $41.8 Mil.
Total Current Liabilities was $157.1 Mil.
Long-Term Debt & Capital Lease Obligation was $12.0 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)
	=	(68.478 / 686.916)	/	(76.483 / 500.403)
	=	0.099689	/	0.152843
	=	0.6522

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)
	=	(69.574 / 500.403)	/	(89.372 / 686.916)
	=	0.139036	/	0.130106
	=	1.0686

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 - (301.148 + 169.122) / 483.676)	/	(1 - (261.672 + 104.211) / 369.488)
	=	0.027717	/	0.009757
	=	2.8407

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
	=	686.916	/	500.403
	=	1.3727

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))
	=	(12.535 / (12.535 + 104.211))	/	(13.702 / (13.702 + 169.122))
	=	0.10737	/	0.074946
	=	1.4326

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)
	=	(50.465 / 686.916)	/	(41.757 / 500.403)
	=	0.073466	/	0.083447
	=	0.8804

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)
	=	((39.144 + 142.055) / 483.676)	/	((12 + 157.116) / 369.488)
	=	0.374629	/	0.457704
	=	0.8185

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
	=	(26.644 - 0	-	82.876)	/	483.676
	=	-0.11626

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.

Webco Industries has a M-score of -2.10 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 0.00 mean?

Webco Industries (WEBC) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Webco Industries and its competitors.

Is Webco Industries' Beneish M-Score too high?

Webco Industries' current Beneish M-Score is 0.00. Overall, Webco Industries has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.

How does Webco Industries' Beneish M-Score compare to ACNT and FRD?

Webco Industries' Beneish M-Score of 0.00 can be compared against companies in the Steel 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 Steel company?

A good Beneish M-Score depends on the Steel 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 Webco Industries and its competitors. Webco Industries's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Webco Industries stock overvalued right now?

Webco Industries (WEBC) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Webco Industries' overall GF Score™ is 12/100. 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 Webco Industries (WEBC), the current Beneish M-Score is 0.00 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.

Webco Industries Business Description

Industry Basic Materials Steel

Comparable Companies ACNT FRD LUD KBSX HLP INHD HUDI ZKIN ZEUS MSB BOM:500228 NUE XAMS:MT TSE:5401 NSE:TATASTEEL SHSE:600019 STLD RS XKRX:005490 SHSE:600010

Address 9101 West 21st Street, P.O. Box 100, Sand Springs, OK, USA, 74063

Website https://www.webcotube.com

Webco Industries Inc is a specialty manufacturer and seller of high-quality carbon and stainless steel tubing products that are designed to industry and customer specifications. The company's products includes Welded tubing; Cold drawn- Welded and Cold drawn- Seamless. Its value-added services include bending, custom mill length, end formed/swaged, finning, heat treating, packaging, precision cutting, product availability and responsiveness.

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