Sensient Technologies Corporation
SXT Basic Materials Specialty Chemicals
Sensient Technologies Corporation’s revenue for fiscal 2025 (year ended December 2025) was $1.6 billion, up 3.52% from fiscal 2024. In the quarter to June 2026, revenue grew 11.6%, EPS grew 36.0%, free cash flow fell 64.3% and total debt rose 3.73%, each against the same quarter a year earlier. Dividend growth for twenty-five consecutive years, revenue growth for five; insiders bought in the last twelve months.
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Sensient Technologies Corporation (SXT) Beneish M-score
Sensient Technologies Corporation's Beneish M-score for fiscal 2025 is −2.43; 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 | −2.43 | 0.09 |
| FY2024 | −2.52 | 0.19 |
| FY2023 | −2.70 | (0.59) |
| FY2022 | −2.11 | 0.36 |
| FY2021 | −2.47 | 0.14 |
| FY2020 | −2.61 | 0.24 |
| FY2019 | −2.85 | (0.85) |
| FY2018 | −2.00 | 0.35 |
| FY2017 | −2.35 | 0.48 |
| FY2016 | −2.83 | (0.27) |
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 | 0.97 | — | 0.51 | |
| Asset quality index | 0.99 | — | 0.40 | |
| Sales growth index | 1.04 | — | 0.92 | |
| Depreciation index | 1.07 | — | 0.12 | |
| SG&A index | 1.02 | — | −0.17 | |
| Total accruals to total assets | 0.00 | — | 0.01 | |
| Leverage index | 0.99 | — | −0.32 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.43 | ||
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 |
|---|---|
| PRM Perimeter Solutions, SA compare | −3.2× |
| CLMT Calumet, Inc. compare | −3.0× |
| CBT Cabot Corporation compare | −2.9× |
| EMN Eastman Chemical Company compare | −2.7× |
| AXTA Axalta Coating Systems Ltd. compare | −2.6× |
| NEU NewMarket Corporation compare | −2.5× |
| BCPC Balchem Corporation compare | −2.5× |
| WLK Westlake Corporation compare | −2.4× |
| SXT Sensient Technologies Corporation | −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