stockrowZumiez Inc.
ZUMZ Consumer Cyclical Apparel Retail
Zumiez Inc.’s revenue for fiscal 2026 (year ended January 2026) was $929.1 million, up 4.48% from fiscal 2025.
- Revenue
- −2.48%
- EPS
- −183.3%
- Free cash flow
- −124.8%
Quarter to July 2026, against a year earlier
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Zumiez Inc. (ZUMZ) Beneish M-score
Zumiez Inc.'s Beneish M-score for fiscal 2026 is −2.74; 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) |
|---|---|---|
| FY2026 | −2.74 | 0.03 |
| FY2025 | −2.77 | 0.69 |
| FY2024 | −3.46 | (1.77) |
| FY2023 | −1.69 | 1.02 |
| FY2022 | −2.71 | 0.17 |
| FY2021 | −2.88 | (0.80) |
| FY2020 | −2.08 | 0.56 |
| FY2019 | −2.64 | (0.01) |
| FY2018 | −2.63 | 0.10 |
| FY2017 | −2.73 | (0.09) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 1.04 | — | 0.96 | |
| Gross margin index | 0.95 | — | 0.50 | |
| Asset quality index | 1.00 | — | 0.40 | |
| Sales growth index | 1.04 | — | 0.93 | |
| Depreciation index | 0.96 | — | 0.11 | |
| SG&A index | 1.00 | — | −0.17 | |
| Total accruals to total assets | (0.06) | — | −0.29 | |
| Leverage index | 1.06 | — | −0.35 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.74 | ||
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 |
|---|---|
| DLTH Duluth Holdings Inc. compare | −3.3× |
| CTRN Citi Trends, Inc. compare | −3.2× |
| GCO Genesco Inc. compare | −3.0× |
| LE Lands' End, Inc. compare | −2.9× |
| JILL J.Jill, Inc. compare | −2.7× |
| ZUMZ Zumiez Inc. | −2.7× |
| TLYS Tilly's, Inc. compare | −2.4× |
| SFIX Stitch Fix, Inc. compare | — |
| CURV Torrid Holdings Inc. compare | — |
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