Weatherford International PLC
WFRD Energy Oil & Gas Equipment & Services
Weatherford International PLC’s revenue for fiscal 2025 (year ended December 2025) was $4.9 billion, down 10.8% from fiscal 2024. In the quarter to June 2026, revenue fell 8.22%, EPS fell 70.6%, free cash flow grew 77.5% and total debt fell 6.98%, each against the same quarter a year earlier. Dividend growth for three consecutive years.
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Weatherford International PLC (WFRD) Beneish M-score
Weatherford International PLC's Beneish M-score for fiscal 2025 is −2.55; 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 | −2.55 | 0.12 |
| FY2024 | −2.67 | (0.02) |
| FY2023 | −2.65 | 0.04 |
| FY2022 | −2.69 | 0.48 |
| FY2021 | −3.18 | 1.77 |
| FY2020 | −4.94 | (5.77) |
| FY2019 | 0.83 | 5.68 |
| FY2018 | −4.85 | (0.85) |
| FY2017 | −4.00 | (0.53) |
| FY2016 | −3.47 | (0.01) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.10 | — | 1.01 | |
| Gross margin index | 1.11 | — | 0.59 | |
| Asset quality index | 1.00 | — | 0.40 | |
| Sales growth index | 0.89 | — | 0.80 | |
| Depreciation index | 1.27 | — | 0.15 | |
| SG&A index | 0.94 | — | −0.16 | |
| Total accruals to total assets | (0.04) | — | −0.20 | |
| Leverage index | 0.90 | — | −0.29 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.55 | ||
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 |
|---|---|
| KGS Kodiak Gas Services, Inc. compare | −3.2× |
| NOV NOV Inc. compare | −3.0× |
| WHD Cactus, Inc. compare | −2.8× |
| WFRD Weatherford International PLC | −2.6× |
| TDW Tidewater Inc. compare | −2.4× |
| AROC Archrock, Inc. compare | −2.4× |
| OII Oceaneering International, Inc. compare | −2.3× |
| SEI Solaris Energy Infrastructure, Inc. compare | −2.3× |
| LB LandBridge Company LLC compare | −1.5× |
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