Rustic Bakery (XTAE:RSTC) Beneish M-Score: 0.00 (As of Jul. 29, 2026)

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XTAE:RSTC Rustic Bakery Ltd XTAE:RSTC
16 GF Score
Price ₪22.90
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What is Rustic Bakery Beneish M-Score?

Rustic Bakery XTAE:RSTC +1.37% 16 Beneish M-Score is 0.00 as of Jul. 29, 2026. GuruFocus rates XTAE:RSTC with a GF Score™ of 16/100. Among 1,853 Consumer Packaged Goods companies, Rustic Bakery ranks worse than 53966.49% 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.

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

During the past 3 years, the highest Beneish M-Score of Rustic Bakery was 0.00. The lowest was 0.00. And the median was 0.00.

Rustic Bakery Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Rustic Bakery'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.

Rustic Bakery Beneish M-Score Chart

Rustic Bakery Annual Data
Trend Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00

Rustic Bakery Semi-Annual Data
Dec23 Dec24 Dec25
Beneish M-Score 0.00 0.00 0.00

XTAE:RSTC vs KHC, GIS: Beneish M-Score Comparison

For the Packaged Foods subindustry, Rustic Bakery'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.

Rustic Bakery Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Rustic Bakery's Beneish M-Score distribution charts can be found below:

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


XTAE:RSTC
16GF Score
Rustic Bakery Ltd XTAE:RSTC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Rustic Bakery 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 Rustic Bakery 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 * 0.8651+0.528 * 0.8786+0.404 * 0.9199+0.892 * 1.0945+0.115 * 0.9024
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8507+4.679 * -0.098751-0.327 * 0.7073
=-2.97

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was ₪91.3 Mil.
Revenue was ₪399.2 Mil.
Gross Profit was ₪167.2 Mil.
Total Current Assets was ₪111.2 Mil.
Total Assets was ₪240.8 Mil.
Property, Plant and Equipment(Net PPE) was ₪115.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪19.4 Mil.
Selling, General, & Admin. Expense(SGA) was ₪7.7 Mil.
Total Current Liabilities was ₪99.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₪1.4 Mil.
Net Income was ₪44.9 Mil.
Gross Profit was ₪0.0 Mil.
Cash Flow from Operations was ₪68.7 Mil.
 Total Receivables was ₪96.5 Mil.
Revenue was ₪364.8 Mil.
Gross Profit was ₪134.2 Mil.
Total Current Assets was ₪114.4 Mil.
Total Assets was ₪234.3 Mil.
Property, Plant and Equipment(Net PPE) was ₪105.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪15.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₪8.3 Mil.
Total Current Liabilities was ₪137.3 Mil.
Long-Term Debt & Capital Lease Obligation was ₪2.0 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)
=(91.329 / 399.236) / (96.451 / 364.756)
=0.228759 / 0.264426
=0.8651

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)
=(134.205 / 364.756) / (167.191 / 399.236)
=0.367931 / 0.418777
=0.8786

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 - (111.18 + 115.498) / 240.797) / (1 - (114.412 + 104.985) / 234.333)
=0.058634 / 0.063738
=0.9199

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
=399.236 / 364.756
=1.0945

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))
=(15.623 / (15.623 + 104.985)) / (19.357 / (19.357 + 115.498))
=0.129535 / 0.143539
=0.9024

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)
=(7.722 / 399.236) / (8.293 / 364.756)
=0.019342 / 0.022736
=0.8507

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)
=((1.383 + 99.88) / 240.797) / ((1.973 + 137.348) / 234.333)
=0.420533 / 0.594543
=0.7073

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
=(44.883 - 0 - 68.662) / 240.797
=-0.098751

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.

Rustic Bakery has a M-score of -2.97 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?
Rustic Bakery (XTAE:RSTC) has a Beneish M-Score of 0.00 as of Jul. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Rustic Bakery and its competitors. According to the industry distribution chart, Rustic Bakery ranks #999999 out of 1853 companies in the Consumer Packaged Goods industry.
Is Rustic Bakery's Beneish M-Score too high?
Rustic Bakery's current Beneish M-Score is 0.00. Based on the distribution chart, Rustic Bakery ranks #999999 out of 1853 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Rustic Bakery has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does Rustic Bakery's Beneish M-Score compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Rustic Bakery ranks #999999 out of 1853 companies for Beneish M-Score. This places Rustic Bakery 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 Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods 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 Rustic Bakery and its competitors. Rustic Bakery'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 Rustic Bakery stock overvalued right now?
Rustic Bakery (XTAE:RSTC) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Rustic Bakery's overall GF Score™ is 16/100. 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 Rustic Bakery (XTAE:RSTC), the current Beneish M-Score is 0.00 as of Jul. 29, 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.

Rustic Bakery Business Description

Address 2 Pashosh Street, P.O.Box 2072, Industrial Zone Ramla, Ramla, ISR, 7212001
Rustic Bakery Ltd is engaged in the production, development, and marketing of frozen and baked-frozen bakery products. The company's product portfolio includes English Cakes, Cookie Boxes, Baguettes, Bagels and Pretzels, Donuts and Muffins, Challa, Breads, Sourdough Breads, Bread Rolls, Savory Pastries, Sweet Pastries, Filo Pastries, Premium Products, Cakes, Cookies, Italian Breads, and Pitta Bread.
16GF Score

Get the complete analysis for XTAE:RSTC

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

₪22.90
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