Simpson Manufacturing Company, Inc.
SSD Basic Materials Lumber & Wood Production
Simpson Manufacturing Company, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.3 billion, up 4.51% from fiscal 2024. In the quarter to June 2026, revenue grew 6.34%, EPS grew 25.0%, free cash flow grew 132.2% and total debt fell 11.0%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten.
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Simpson Manufacturing Company, Inc. (SSD) Beneish M-score
Simpson Manufacturing Company, Inc.'s Beneish M-score for fiscal 2025 is −2.58; 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 | −2.58 | (0.14) |
| FY2024 | −2.43 | 0.16 |
| FY2023 | −2.59 | (0.55) |
| FY2022 | −2.04 | (0.15) |
| FY2021 | −1.88 | 0.57 |
| FY2020 | −2.45 | 0.32 |
| FY2019 | −2.77 | (0.13) |
| FY2018 | −2.64 | (0.19) |
| FY2017 | −2.45 | 0.09 |
| FY2016 | −2.53 | 0.05 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.02 | — | 0.94 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.95 | — | 0.38 | |
| Sales growth index | 1.05 | — | 0.93 | |
| Depreciation index | 1.10 | — | 0.13 | |
| SG&A index | 1.03 | — | −0.18 | |
| Total accruals to total assets | (0.04) | — | −0.17 | |
| Leverage index | 0.90 | — | −0.29 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.58 | ||
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 |
|---|---|
| NWGL Nature Wood Group Limited Sponsored ADR compare | −3.7× |
| WFG West Fraser Timber Co. Ltd. compare | −2.7× |
| UFPI UFP Industries, Inc. compare | −2.7× |
| SSD Simpson Manufacturing Company, Inc. | −2.6× |
| BCC Boise Cascade, L.L.C. compare | −2.5× |
| JCTC Jewett-Cameron Trading Company compare | −2.4× |
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