Celsia EspBOG:CELSIA +3.86%60 Beneish M-Score is -2.70 as of Jul. 12, 2026. GuruFocus rates BOG:CELSIA with a GF Score™ of 60/100 and a GF Value™ of COP3,203.16 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 393 Utilities - Independent Power Producers companies, Celsia Esp ranks better than 61.07% 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 -2.7 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Celsia Esp's Beneish M-Score or its related term are showing as below:
BOG:CELSIA'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.52 Med: -2.4 Max: -1.41
Current: -2.7
During the past 13 years, the highest Beneish M-Score of Celsia Esp was -1.41. The lowest was -3.52. And the median was -2.40.
Celsia Esp Beneish M-Score Related Terms
Celsia Esp Beneish M-Score Historical Data
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The historical data trend for Celsia Esp'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.
For the Utilities - Renewable subindustry, Celsia Esp'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.
Celsia Esp Beneish M-Score vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Celsia Esp's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Celsia Esp's Beneish M-Score falls into.
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 Celsia Esp 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 * 0.7165
+
0.528 * 0.8064
+
0.404 * 1.3879
+
0.892 * 0.7579
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.4715
+
4.679 * 0.012323
-
0.327 * 0.3122
=
-2.70
* 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.
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.
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))
=
(0 / (0 + 10569639.287))
/
(0 / (0 + 10479098.367))
=
0
/
0
=
1
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
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
=
(175099.444 - 0
-
0)
/
14209432.42
=
0.012323
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.
Celsia Esp has a M-score of -2.70 suggests that the company is unlikely to be a manipulator.
Celsia Esp (BOG:CELSIA) has a Beneish M-Score of -2.70 as of Jul. 12, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Celsia Esp and its competitors. According to the industry distribution chart, Celsia Esp ranks #153 out of 393 companies in the Utilities - Independent Power Producers industry, placing it in the top 38.9%.
Is Celsia Esp's Beneish M-Score too high?
Celsia Esp's current Beneish M-Score is -2.70. Based on the distribution chart, Celsia Esp ranks #153 out of 393 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Celsia Esp has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Celsia Esp's Beneish M-Score compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Celsia Esp ranks #153 out of 393 companies for Beneish M-Score. This puts Celsia Esp 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 Utilities - Independent Power Producers company?
A good Beneish M-Score depends on the Utilities - Independent Power Producers 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 Celsia Esp and its competitors. Celsia Esp's current Beneish M-Score is -2.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Celsia Esp stock overvalued right now?
Based on GuruFocus' analysis, Celsia Esp (BOG:CELSIA) is currently considered Significantly Overvalued. The stock's GF Value™ is COP3,203.16, compared to a current price of COP5,380.00 — trading 68% above its estimated fair value. The current Beneish M-Score is -2.70. Celsia Esp's overall GF Score™ is 60/100 with 11 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 Celsia Esp (BOG:CELSIA), the current Beneish M-Score is -2.70 as of Jul. 12, 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 Celsia Esp (BOG:CELSIA) Overvalued in 2026?
Based on GuruFocus' analysis, Celsia Esp stock appears to be overvalued.
The current stock price of COP5,380.00 is trading 68% above its estimated GF Value™ of COP3,203.16.
GuruFocus considers Celsia Esp to be Significantly Overvalued.
Key valuation signals for BOG:CELSIA:
Beneish M-Score: -2.70
GF Value™: COP3,203.16 vs. price of COP5,380.00 (68% above fair value)
No single metric tells the full story. See the BOG:CELSIA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Celsia SA Esp is a Latin American public utility company. Celsia is involved in the generation and sale of electrical energy and natural gas in Colombia, Panama, and Costa Rica. Through its principal subsidiary, Celsia Colombia S.A. E.S.P, the company owns and operates a portfolio of thermal, hydroelectric, and wind power plants. The company has two geographical operating segments namely Colombia and Central America. It generates maximum revenue from the Colombia segment. The company projects include Porvenir II and ReverdeC.
60GF Score
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