Woodside Energy Group Ltd
WDS Energy Oil & Gas E&P
Woodside Energy Group Ltd’s revenue for fiscal 2025 (year ended December 2025) was $13.0 billion, down 1.48% from fiscal 2024.
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Woodside Energy Group Ltd (WDS) Beneish M-score
Woodside Energy Group Ltd's Beneish M-score for fiscal 2025 is −2.99; 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 | −2.99 | (0.91) |
| FY2024 | −2.08 | 0.58 |
| FY2023 | −2.66 | (2.21) |
| FY2022 | −0.44 | 2.17 |
| FY2021 | −2.61 | 0.17 |
| FY2020 | −2.78 | 0.24 |
| FY2019 | −3.02 | (0.49) |
| FY2018 | −2.53 | 0.27 |
| FY2017 | −2.80 | 0.17 |
| FY2016 | −2.98 | (0.60) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.71 | — | 0.65 | |
| Gross margin index | 1.23 | — | 0.65 | |
| Asset quality index | 0.94 | — | 0.38 | |
| Sales growth index | 0.99 | — | 0.88 | |
| Depreciation index | 0.99 | — | 0.11 | |
| SG&A index SG&A not reported — index set to 1 | 1.00 | — | Set to 1 | −0.17 |
| Total accruals to total assets | (0.07) | — | −0.31 | |
| Leverage index | 1.03 | — | −0.34 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.99 | ||
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 |
|---|---|
| DVN Devon Energy Corporation compare | −3.1× |
| FANG Diamondback Energy, Inc. compare | −3.1× |
| EOG EOG Resources, Inc. compare | −3.0× |
| WDS Woodside Energy Group Ltd | −3.0× |
| OXY Occidental Petroleum Corporation compare | −3.0× |
| PR Permian Resources Corporation compare | −2.6× |
| EQT EQT Corporation compare | −2.6× |
| TPL Texas Pacific Land Corporation compare | −2.3× |
| EXE Expand Energy Corporation 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