Utz Brands, Inc.
UTZ Consumer Defensive Packaged Foods
Utz Brands, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 2.10% from fiscal 2024. In the quarter to June 2026, revenue grew 1.39%, EPS fell 191.7%, free cash flow grew 93.4% and total debt fell 3.61%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.
Follow UTZ
Utz Brands, Inc. (UTZ) Beneish M-score
Utz Brands, Inc.'s Beneish M-score for fiscal 2025 is −2.86; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
Embed this chart
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.86 | (0.14) |
| FY2024 | −2.71 | (0.24) |
| FY2023 | −2.48 | 0.07 |
| FY2022 | −2.54 | (0.10) |
| FY2021 | −2.44 | (0.19) |
| FY2020 | −2.25 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.82 | — | 0.76 | |
| Gross margin index | 1.05 | — | 0.56 | |
| Asset quality index | 0.96 | — | 0.39 | |
| Sales growth index | 1.02 | — | 0.91 | |
| Depreciation index | 0.98 | — | 0.11 | |
| SG&A index | 1.10 | — | −0.19 | |
| Total accruals to total assets | (0.04) | — | −0.20 | |
| Leverage index | 1.07 | — | −0.35 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.86 | ||
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 |
|---|---|
| UTZ Utz Brands, Inc. | −2.9× |
| JJSF J & J Snack Foods Corp. compare | −2.8× |
| CENTA Central Garden & Pet Company compare | −2.7× |
| CENT Central Garden & Pet Company compare | −2.7× |
| MZTI The Marzetti Company compare | −2.6× |
| NOMD Nomad Foods Limited compare | −2.5× |
| POST Post Holdings, Inc. compare | −2.5× |
| HLF Herbalife Ltd compare | −2.3× |
| FRPT Freshpet, Inc. compare | −1.9× |
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