AUB Group (ASX:AUB) Beneish M-Score: -2.67 (As of Jun. 24, 2026)

What is AUB Group Beneish M-Score?

AUB Group ASX:AUB +0.07% 85 Beneish M-Score is -2.67 as of Jun. 24, 2026. GuruFocus rates ASX:AUB with a GF Score™ of 85/100 and a GF Value™ of A$49.04 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 399 Insurance companies, AUB Group ranks better than 69.42% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.67 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for AUB Group's Beneish M-Score or its related term are showing as below:

ASX:AUB' s Beneish M-Score Range Over the Past 10 Years
Min: -3.26 Med: -2.67 Max: -1.61
Current: -2.67

During the past 13 years, the highest Beneish M-Score of AUB Group was -1.61. The lowest was -3.26. And the median was -2.67.

AUB Group Beneish M-Score Related Terms

AUB Group Beneish M-Score Historical Data

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The historical data trend for AUB Group's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

AUB Group Beneish M-Score Chart

AUB Group Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Beneish M-Score

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-2.92

-1.96

-1.61

-2.67

AUB Group Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.67	0.00	-2.67	0.00

ASX:AUB vs MRSH, AON, AJG: Beneish M-Score Comparison

For the Insurance Brokers subindustry, AUB Group's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

AUB Group Beneish M-Score vs Insurance Industry

For the Insurance industry and Financial Services sector, AUB Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where AUB Group's Beneish M-Score falls into.

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85GF Score

AUB Group Ltd ASX:AUB

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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AUB Group Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of AUB Group for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.025

0.528 * 1

0.404 * 1.0769

0.892 * 1.1031

0.115 * 1.0013

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0117

4.679 * -0.072616

0.327 * 0.9971

-2.67

This Year (Jun25) TTM:

Last Year (Jun24) TTM:

Total Receivables was A$273 Mil.
Revenue was A$1,034 Mil.
Gross Profit was A$1,034 Mil.
Total Current Assets was A$1,675 Mil.
Total Assets was A$4,733 Mil.
Property, Plant and Equipment(Net PPE) was A$90 Mil.
Depreciation, Depletion and Amortization(DDA) was A$96 Mil.
Selling, General, & Admin. Expense(SGA) was A$597 Mil.
Total Current Liabilities was A$1,485 Mil.
Long-Term Debt & Capital Lease Obligation was A$932 Mil.
Net Income was A$180 Mil.
Gross Profit was A$137 Mil.
Cash Flow from Operations was A$387 Mil.

Total Receivables was A$242 Mil.
Revenue was A$937 Mil.
Gross Profit was A$937 Mil.
Total Current Assets was A$1,607 Mil.
Total Assets was A$4,049 Mil.
Property, Plant and Equipment(Net PPE) was A$84 Mil.
Depreciation, Depletion and Amortization(DDA) was A$90 Mil.
Selling, General, & Admin. Expense(SGA) was A$535 Mil.
Total Current Liabilities was A$1,369 Mil.
Long-Term Debt & Capital Lease Obligation was A$704 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(273.053 / 1034.061)	/	(241.502 / 937.436)
	=	0.264059	/	0.25762
	=	1.025

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(937.436 / 937.436)	/	(1034.061 / 1034.061)
	=	1	/	1
	=	1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (1675.284 + 90.415) / 4733.357)	/	(1 - (1607.385 + 84.349) / 4049.25)
	=	0.626967	/	0.582211
	=	1.0769

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	1034.061	/	937.436
	=	1.1031

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(89.851 / (89.851 + 84.349))	/	(96.05 / (96.05 + 90.415))
	=	0.515792	/	0.51511
	=	1.0013

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(597.24 / 1034.061)	/	(535.158 / 937.436)
	=	0.577567	/	0.570874
	=	1.0117

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((931.952 + 1484.638) / 4733.357)	/	((704.418 + 1368.916) / 4049.25)
	=	0.510545	/	0.512029
	=	0.9971

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(180.055 - 137.239	-	386.532)	/	4733.357
	=	-0.072616

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

AUB Group has a M-score of -2.67 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -2.67 mean?

AUB Group (ASX:AUB) has a Beneish M-Score of -2.67 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AUB Group and its competitors. According to the industry distribution chart, AUB Group ranks #122 out of 399 companies in the Insurance industry, placing it in the top 30.6%.

Is AUB Group's Beneish M-Score too high?

AUB Group's current Beneish M-Score is -2.67. Based on the distribution chart, AUB Group ranks #122 out of 399 companies in the Insurance industry, which is above the industry midpoint. Overall, AUB Group has a GF Score™ of 85/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does AUB Group's Beneish M-Score compare to MRSH and AON?

According to the Insurance industry distribution chart, AUB Group ranks #122 out of 399 companies for Beneish M-Score. This puts AUB Group in the upper half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for an Insurance company?

A good Beneish M-Score depends on the Insurance industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on AUB Group and its competitors. AUB Group's current Beneish M-Score is -2.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is AUB Group stock overvalued right now?

Based on GuruFocus' analysis, AUB Group (ASX:AUB) is currently considered Possible Value Trap. The stock's GF Value™ is A$49.04, compared to a current price of A$28.06 — trading 42.8% below its estimated fair value. The current Beneish M-Score is -2.67. AUB Group's overall GF Score™ is 85/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For AUB Group (ASX:AUB), the current Beneish M-Score is -2.67 as of Jun. 24, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is AUB Group (ASX:AUB) Overvalued in 2026?

Based on GuruFocus' analysis, AUB Group stock appears to be undervalued. The current stock price of A$28.06 is trading 42.8% below its estimated GF Value™ of A$49.04. GuruFocus considers AUB Group to be Possible Value Trap.

Key valuation signals for ASX:AUB:

Beneish M-Score: -2.67
GF Value™: A$49.04 vs. price of A$28.06 (42.8% below fair value)
GF Score™: 85/100 with 5 warning signs

No single metric tells the full story. See the ASX:AUB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

AUB Group Business Description

Industry Financial Services Insurance

Comparable Companies ASX:SDF MRSH AON AJG WTW BRO ERIE BOM:543390 NP ARX CRVL SAU:8313 BWIN XSGO:BANVIDA LIFE GSHD CRD.A LSE:SBRE ATH:EVR TSE:7388

Other Exchanges A5H:Germany

Address 141 Walker Street, Level 14, North Sydney, Sydney, NSW, AUS, 2060

Website https://www.aubgroup.com.au

AUB Group is the second-largest general insurance broker network in Australia and New Zealand. It has an ownership in brokerage businesses that collectively write over AUD 5 billion in premiums. It also owns equity stakes in 35 underwriting agencies. AUB derives revenue from commissions (from insurers, ultimately paid for by AUB's customers), based on gross written premium from agencies it owns, and a share of profits from associates and joint ventures. GWP is split among personal (3%), small to medium enterprises (70%), and corporates (27%).

85GF Score

Get the complete analysis for ASX:AUB

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$28.06

Price

A$49.04

GF Value

View ASX:AUB Analysis

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