Ollie's Bargain Outlet Holdings, Inc.
OLLI Consumer Defensive Discount Stores
Ollie's Bargain Outlet Holdings, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $2.6 billion, up 16.6% from fiscal 2025. In the quarter to July 2026, revenue grew 9.09%, EPS grew 42.0%, free cash flow grew 19.4% and total debt rose 55.9%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Ollie's Bargain Outlet Holdings, Inc. (OLLI) Beneish M-score
Ollie's Bargain Outlet Holdings, Inc.'s Beneish M-score for fiscal 2026 is −2.07; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −2.07 | 0.39 |
| FY2025 | −2.46 | 0.29 |
| FY2024 | −2.75 | (0.93) |
| FY2023 | −1.82 | (0.79) |
| FY2022 | −1.03 | 2.41 |
| FY2021 | −3.44 | (4.39) |
| FY2020 | 0.95 | 3.70 |
| FY2019 | −2.75 | (3.04) |
| FY2018 | 0.29 | 2.29 |
| FY2017 | −1.99 | 0.74 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.39 | — | 1.28 | |
| Gross margin index | 0.99 | — | 0.52 | |
| Asset quality index | 1.13 | — | 0.46 | |
| Sales growth index | 1.17 | — | 1.04 | |
| Depreciation index | 0.92 | — | 0.11 | |
| SG&A index | 0.99 | — | −0.17 | |
| Total accruals to total assets | (0.02) | — | −0.09 | |
| Leverage index | 1.14 | — | −0.37 | |
| Beneish M-score | Elevated | −2.07 | ||
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 |
|---|---|
| DG Dollar General Corporation compare | −3.6× |
| TBBB BBB Foods Inc. compare | −3.3× |
| BJ BJ's Wholesale Club Holdings, Inc. compare | −2.9× |
| PSMT PriceSmart, Inc. compare | −2.8× |
| WMT Walmart Inc. compare | −2.7× |
| COST Costco Wholesale Corporation compare | −2.7× |
| OLLI Ollie's Bargain Outlet Holdings, Inc. | −2.1× |
| DLTR Dollar Tree, Inc. compare | — |
| TGT Target Corporation compare | — |
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