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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 -2.68 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Occidental Petroleum's Beneish M-Score or its related term are showing as below:
XSWX:OXY'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.46 Med: -2.69 Max: 13.12
Current: -2.68
During the past 13 years, the highest Beneish M-Score of Occidental Petroleum was 13.12. The lowest was -3.46. And the median was -2.69.
Occidental Petroleum Beneish M-Score Related Terms
Occidental Petroleum Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Occidental Petroleum'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.
XSWX:OXY vs FANG, DVN, EOG: Beneish M-Score Comparison
For the Oil & Gas E&P subindustry, Occidental Petroleum'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.
Occidental Petroleum Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Occidental Petroleum's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Occidental Petroleum'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 Occidental Petroleum 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 * 0.9673
+
0.528 * 0.8893
+
0.404 * 1.028
+
0.892 * 1.0005
+
0.115 * 0.9206
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9306
+
4.679 * -0.048408
-
0.327 * 0.7218
=
-2.69
* 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))
=
(6096.406 / (6096.406 + 56487.312))
/
(5999.585 / (5999.585 + 50698.8))
=
0.097412
/
0.105816
=
0.9206
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
=
(5755.082 - 121.82
-
8742.495)
/
64230.149
=
-0.048408
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.
Occidental Petroleum has a M-score of -2.69 suggests that the company is unlikely to be a manipulator.
Occidental Petroleum (XSWX:OXY) has a Beneish M-Score of -2.68 as of Aug. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Occidental Petroleum and its competitors. According to the industry distribution chart, Occidental Petroleum ranks #392 out of 830 companies in the Oil & Gas industry, placing it in the top 47.2%.
Is Occidental Petroleum's Beneish M-Score too high?
Occidental Petroleum's current Beneish M-Score is -2.68. Based on the distribution chart, Occidental Petroleum ranks #392 out of 830 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Occidental Petroleum has a GF Score™ of 40/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Occidental Petroleum's Beneish M-Score compare to FANG and DVN?
According to the Oil & Gas industry distribution chart, Occidental Petroleum ranks #392 out of 830 companies for Beneish M-Score. This puts Occidental Petroleum 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 Occidental Petroleum and its competitors. Occidental Petroleum's current Beneish M-Score is -2.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Occidental Petroleum stock overvalued right now?
Based on GuruFocus' analysis, Occidental Petroleum (XSWX:OXY) is currently considered Modestly Overvalued. The stock's GF Value™ is CHF40.29, compared to a current price of CHF48.41 — trading 20.1% above its estimated fair value. The current Beneish M-Score is -2.68. Occidental Petroleum's overall GF Score™ is 40/100 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 Occidental Petroleum (XSWX:OXY), the current Beneish M-Score is -2.68 as of Aug. 20, 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 Occidental Petroleum (XSWX:OXY) Overvalued in 2026?
Based on GuruFocus' analysis, Occidental Petroleum stock appears to be overvalued.
The current stock price of CHF48.41 is trading 20.1% above its estimated GF Value™ of CHF40.29.
GuruFocus considers Occidental Petroleum to be Modestly Overvalued.
Key valuation signals for XSWX:OXY:
Beneish M-Score: -2.68
GF Value™: CHF40.29 vs. price of CHF48.41 (20.1% above fair value)
No single metric tells the full story. See the XSWX:OXY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East. At the end of 2025, the company reported net proved reserves of 4.6 billion barrels of oil equivalent. Net production averaged 1.4 million barrels of oil equivalent per day in 2025 at a ratio of roughly 74% oil and natural gas liquids and 26% natural gas.
40GF Score
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