Enpro Inc.
NPO Industrials Specialty Industrial Machinery
Enpro Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 9.02% from fiscal 2024. In the quarter to June 2026, revenue grew 17.6%, EPS grew 1.59%, free cash flow fell 15.5% and total debt rose 23.7%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
Follow NPO
Enpro Inc. (NPO) Beneish M-score
Enpro Inc.'s Beneish M-score for fiscal 2025 is −2.59; 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 | −2.59 | 0.03 |
| FY2024 | −2.62 | 0.37 |
| FY2023 | −2.99 | (0.40) |
| FY2022 | −2.60 | 0.37 |
| FY2021 | −2.97 | (0.67) |
| FY2020 | −2.30 | 0.53 |
| FY2019 | −2.83 | 0.50 |
| FY2018 | −3.33 | (2.79) |
| FY2017 | −0.53 | 2.28 |
| FY2016 | −2.81 | (0.02) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.06 | — | 0.98 | |
| Gross margin index | 0.99 | — | 0.53 | |
| Asset quality index | 1.05 | — | 0.42 | |
| Sales growth index | 1.09 | — | 0.97 | |
| Depreciation index | 1.08 | — | 0.12 | |
| SG&A index | 1.00 | — | −0.17 | |
| Total accruals to total assets | (0.06) | — | −0.28 | |
| Leverage index | 0.96 | — | −0.31 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.59 | ||
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 |
|---|---|
| CSW CSW Industrials, Inc. compare | −3.2× |
| MIDD The Middleby Corporation compare | −2.7× |
| FLS Flowserve Corporation compare | −2.6× |
| NPO Enpro Inc. | −2.6× |
| FELE Franklin Electric Co., Inc. compare | −2.6× |
| GTES Gates Industrial Corporation PLC compare | −2.5× |
| AOS A. O. Smith Corporation compare | −2.5× |
| PNR Pentair plc compare | −2.4× |
| JBTM JBT Marel Corporation compare | −1.3× |
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