MSC Industrial Direct Company, Inc.
MSM Industrials Industrial Distribution
MSC Industrial Direct Company, Inc.’s revenue for fiscal 2025 (year ended August 2025) was $3.8 billion, down 1.35% from fiscal 2024. In the quarter to May 2026, revenue grew 7.82%, EPS grew 41.2%, free cash flow fell 23.9% and total debt fell 2.74%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.
Follow MSM
MSC Industrial Direct Company, Inc. (MSM) Beneish M-score
MSC Industrial Direct Company, Inc.'s Beneish M-score for fiscal 2025 is −2.75; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.75 | 0.08 |
| FY2024 | −2.83 | 0.49 |
| FY2023 | −3.32 | (1.19) |
| FY2022 | −2.12 | 0.33 |
| FY2021 | −2.45 | 0.47 |
| FY2020 | −2.92 | (0.42) |
| FY2019 | −2.50 | (0.12) |
| FY2018 | −2.38 | (0.10) |
| FY2017 | −2.28 | 0.70 |
| FY2016 | −2.98 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.04 | — | 0.96 | |
| Gross margin index | 1.01 | — | 0.53 | |
| Asset quality index | 0.97 | — | 0.39 | |
| Sales growth index | 0.99 | — | 0.88 | |
| Depreciation index | 0.89 | — | 0.10 | |
| SG&A index | 1.06 | — | −0.18 | |
| Total accruals to total assets | (0.06) | — | −0.26 | |
| Leverage index | 1.02 | — | −0.33 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.75 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| MSM MSC Industrial Direct Company, Inc. | −2.7× |
| SITE SiteOne Landscape Supply, Inc. compare | −2.7× |
| XMTR Xometry, Inc. compare | −2.7× |
| CNM Core & Main, Inc. compare | −2.6× |
| WSO.B Watsco, Inc. compare | −2.5× |
| WSO Watsco, Inc. compare | −2.5× |
| AIT Applied Industrial Technologies, Inc. compare | −2.4× |
| POOL Pool Corporation compare | −2.4× |
| QXO QXO, Inc. compare | 248× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI