Range Resources Corporation
RRC Energy Oil & Gas E&P
Range Resources Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.1 billion, up 28.9% from fiscal 2024. In the quarter to June 2026, revenue fell 2.65%, EPS fell 16.2%, free cash flow fell 72.9% and total debt fell 28.4%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Range Resources Corporation (RRC) Beneish M-score
Range Resources Corporation's Beneish M-score for fiscal 2025 is −2.39; 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) |
|---|---|---|
| FY2025 | −2.39 | 0.42 |
| FY2024 | −2.81 | 0.14 |
| FY2023 | −2.95 | (0.29) |
| FY2022 | −2.67 | (0.76) |
| FY2021 | −1.90 | 1.09 |
| FY2020 | −2.99 | 1.03 |
| FY2019 | −4.02 | (0.09) |
| FY2018 | −3.94 | (2.11) |
| FY2017 | −1.83 | (5.47) |
| FY2016 | 3.65 | 7.62 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.92 | — | 0.85 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 1.29 | — | 0.52 | |
| Sales growth index | 1.29 | — | 1.15 | |
| Depreciation index | 1.01 | — | 0.12 | |
| SG&A index | 0.81 | — | −0.14 | |
| Total accruals to total assets | (0.07) | — | −0.32 | |
| Leverage index | 0.78 | — | −0.25 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.39 | ||
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 |
|---|---|
| CHRD Chord Energy Corporation compare | −3.7× |
| APA APA Corporation compare | −3.6× |
| MGY Magnolia Oil & Gas Corp compare | −3.4× |
| MTDR Matador Resources Company compare | −3.3× |
| SM SM Energy Company compare | −3.0× |
| AR Antero Resources Corporation compare | −2.9× |
| MUR Murphy Oil Corporation compare | −2.7× |
| RRC Range Resources Corporation | −2.4× |
| VIST Vista Energy, S.A.B. de C.V. - Sponsored ADR compare | −2.1× |
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