Oxford Industries, Inc.
OXM Consumer Cyclical Apparel Manufacturing
Oxford Industries, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $1.5 billion, down 2.56% from fiscal 2025. In the quarter to July 2026, revenue fell 2.17%, EPS grew 192.9%, free cash flow grew 54.1% and total debt fell 9.99%, each against the same quarter a year earlier. Dividend growth for five consecutive years; insiders bought in the last twelve months.
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Oxford Industries, Inc. (OXM) Beneish M-score
Oxford Industries, Inc.'s Beneish M-score for fiscal 2026 is −3.23; 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 | −3.23 | (0.52) |
| FY2025 | −2.71 | 0.29 |
| FY2024 | −3.00 | (1.11) |
| FY2023 | −1.89 | 0.68 |
| FY2022 | −2.57 | 1.11 |
| FY2021 | −3.68 | (0.65) |
| FY2020 | −3.03 | (0.40) |
| FY2019 | −2.63 | (0.01) |
| FY2018 | −2.62 | 0.25 |
| FY2017 | −2.88 | (0.02) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.96 | — | 0.89 | |
| Gross margin index | 1.04 | — | 0.55 | |
| Asset quality index | 0.94 | — | 0.38 | |
| Sales growth index | 0.97 | — | 0.87 | |
| Depreciation index | 0.71 | — | 0.08 | |
| SG&A index | 1.07 | — | −0.18 | |
| Total accruals to total assets | (0.11) | — | −0.53 | |
| Leverage index | 1.35 | — | −0.44 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.23 | ||
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 |
|---|---|
| OXM Oxford Industries, Inc. | −3.2× |
| GIII G-III Apparel Group, LTD. compare | −3.0× |
| UAA Under Armour, Inc. compare | −3.0× |
| UA Under Armour, Inc. compare | −3.0× |
| JXG Aquaron Acquisition Corp. compare | −2.7× |
| SGC Superior Group of Companies, Inc. compare | −2.6× |
| LAKE Lakeland Industries, Inc. compare | −2.5× |
| VNCE Vince Holding Corp. compare | −2.3× |
| JRSH Jerash Holdings (US), Inc. compare | −1.7× |
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