Banco Bilbao Vizcaya Argentaria Colombia (BOG:BBVACOL) Beneish M-Score: -2.48 (As of Jun. 26, 2026)


BOG:BBVACOL Banco Bilbao Vizcaya Argentaria Colombia SA BOG:BBVACOL
26 GF Score
Price COP210.00
GF Value COP206.83
Valuation Fairly Valued
! 4 Warning Signs
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What is Banco Bilbao Vizcaya Argentaria Colombia Beneish M-Score?

Banco Bilbao Vizcaya Argentaria Colombia BOG:BBVACOL 26 Beneish M-Score is -2.48 as of Jun. 26, 2026. GuruFocus rates BOG:BBVACOL with a GF Score™ of 26/100 and a GF Value™ of COP206.83 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,397 Banks companies, Banco Bilbao Vizcaya Argentaria Colombia ranks better than 66.21% on this metric.

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -2.48 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Banco Bilbao Vizcaya Argentaria Colombia's Beneish M-Score or its related term are showing as below:

BOG:BBVACOL' s Beneish M-Score Range Over the Past 10 Years
Min: -8.55   Med: -2.38   Max: -1.08
Current: -2.48

During the past 13 years, the highest Beneish M-Score of Banco Bilbao Vizcaya Argentaria Colombia was -1.08. The lowest was -8.55. And the median was -2.38.

BOG:BBVACOL
26GF Score
Banco Bilbao Vizcaya Argentaria Colombia SA BOG:BBVACOL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Banco Bilbao Vizcaya Argentaria Colombia 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 Banco Bilbao Vizcaya Argentaria Colombia for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1+0.528 * 1+0.404 * 1.0011+0.892 * 1.0844+0.115 * 0.8681
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2418+4.679 * -0.023593-0.327 * 0.7078
=-2.48

* 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.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was COP0 Mil.
Revenue was 1570676 + 1338353 + 1348069 + 1436824 = COP5,693,922 Mil.
Gross Profit was 1570676 + 1338353 + 1348069 + 1436824 = COP5,693,922 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP112,349,585 Mil.
Property, Plant and Equipment(Net PPE) was COP683,825 Mil.
Depreciation, Depletion and Amortization(DDA) was COP173,621 Mil.
Selling, General, & Admin. Expense(SGA) was COP3,246 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP6,571,149 Mil.
Net Income was 201285 + 212004 + 96972 + 113951 = COP624,212 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = COP0 Mil.
Cash Flow from Operations was 877571 + 1789056 + -1878609 + 2486848 = COP3,274,866 Mil.
 Total Receivables was COP0 Mil.
Revenue was 1301142 + 1148508 + 1472552 + 1328335 = COP5,250,537 Mil.
Gross Profit was 1301142 + 1148508 + 1472552 + 1328335 = COP5,250,537 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP103,121,942 Mil.
Property, Plant and Equipment(Net PPE) was COP743,477 Mil.
Depreciation, Depletion and Amortization(DDA) was COP158,554 Mil.
Selling, General, & Admin. Expense(SGA) was COP2,409 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP8,521,813 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)
=(0 / 5693922) / (0 / 5250537)
=0 / 0
=1

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)
=(5250537 / 5250537) / (5693922 / 5693922)
=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 - (0 + 683825) / 112349585) / (1 - (0 + 743477) / 103121942)
=0.993913 / 0.99279
=1.0011

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
=5693922 / 5250537
=1.0844

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))
=(158554 / (158554 + 743477)) / (173621 / (173621 + 683825))
=0.175774 / 0.202486
=0.8681

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)
=(3246 / 5693922) / (2409 / 5250537)
=0.00057 / 0.000459
=1.2418

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)
=((6571149 + 0) / 112349585) / ((8521813 + 0) / 103121942)
=0.058488 / 0.082638
=0.7078

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
=(624212 - 0 - 3274866) / 112349585
=-0.023593

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.

Banco Bilbao Vizcaya Argentaria Colombia has a M-score of -2.48 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 -2.48 mean?
Banco Bilbao Vizcaya Argentaria Colombia (BOG:BBVACOL) has a Beneish M-Score of -2.48 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Banco Bilbao Vizcaya Argentaria Colombia and its competitors. According to the industry distribution chart, Banco Bilbao Vizcaya Argentaria Colombia ranks #472 out of 1397 companies in the Banks industry, placing it in the top 33.8%.
Is Banco Bilbao Vizcaya Argentaria Colombia's Beneish M-Score too high?
Banco Bilbao Vizcaya Argentaria Colombia's current Beneish M-Score is -2.48. Based on the distribution chart, Banco Bilbao Vizcaya Argentaria Colombia ranks #472 out of 1397 companies in the Banks industry, which is above the industry midpoint. Overall, Banco Bilbao Vizcaya Argentaria Colombia has a GF Score™ of 26/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Banco Bilbao Vizcaya Argentaria Colombia's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Banco Bilbao Vizcaya Argentaria Colombia ranks #472 out of 1397 companies for Beneish M-Score. This puts Banco Bilbao Vizcaya Argentaria Colombia 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 a Banks company?
A good Beneish M-Score depends on the Banks 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 Banco Bilbao Vizcaya Argentaria Colombia and its competitors. Banco Bilbao Vizcaya Argentaria Colombia's current Beneish M-Score is -2.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Banco Bilbao Vizcaya Argentaria Colombia stock overvalued right now?
Based on GuruFocus' analysis, Banco Bilbao Vizcaya Argentaria Colombia (BOG:BBVACOL) is currently considered Fairly Valued. The stock's GF Value™ is COP206.83, compared to a current price of COP210.00 — trading 1.5% above its estimated fair value. The current Beneish M-Score is -2.48. Banco Bilbao Vizcaya Argentaria Colombia's overall GF Score™ is 26/100 with 4 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 Banco Bilbao Vizcaya Argentaria Colombia (BOG:BBVACOL), the current Beneish M-Score is -2.48 as of Jun. 26, 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 Banco Bilbao Vizcaya Argentaria Colombia (BOG:BBVACOL) Overvalued in 2026?

Based on GuruFocus' analysis, Banco Bilbao Vizcaya Argentaria Colombia stock appears to be overvalued. The current stock price of COP210.00 is trading 1.5% above its estimated GF Value™ of COP206.83. GuruFocus considers Banco Bilbao Vizcaya Argentaria Colombia to be Fairly Valued.

Key valuation signals for BOG:BBVACOL:

  • Beneish M-Score: -2.48
  • GF Value™: COP206.83 vs. price of COP210.00 (1.5% above fair value)
  • GF Score™: 26/100 with 4 warning signs

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

Banco Bilbao Vizcaya Argentaria Colombia Business Description

Address Carrera 9 No. 72-21, Bogota, COL, 28046
Banco Bilbao Vizcaya Argentaria Colombia SA operates as a private banking institution. The company's main activities include providing loans to both public and private sector companies as well as individuals. It is also involved in international banking, privatizations, financial projects, and other general banking activities, as well as offering leasing services. The operating business segments are Commercial Banking, Enterprise and Institutional Banking, Corporate and Investment Banking, Asset and Liability Management, and Other Segments. The company operates in cities and towns throughout Colombia and it generates revenue through interest and service fees.
26GF Score

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

COP210.00
Price
COP206.83
GF Value