Grupo de Inversiones Suramericana (BOG:GRUPOSURA) Beneish M-Score: -2.52 (As of Jun. 26, 2026)


BOG:GRUPOSURA Grupo de Inversiones Suramericana SA BOG:GRUPOSURA
86 GF Score
Price COP53,400.00
GF Value COP64,078.99
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Grupo de Inversiones Suramericana Beneish M-Score?

Grupo de Inversiones Suramericana BOG:GRUPOSURA -1.11% 86 Beneish M-Score is -2.52 as of Jun. 26, 2026. GuruFocus rates BOG:GRUPOSURA with a GF Score™ of 86/100 and a GF Value™ of COP64,078.99 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 397 Insurance companies, Grupo de Inversiones Suramericana ranks better than 53.65% 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 -2.52 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Grupo de Inversiones Suramericana's Beneish M-Score or its related term are showing as below:

BOG:GRUPOSURA' s Beneish M-Score Range Over the Past 10 Years
Min: -3.31   Med: -2.44   Max: -1.77
Current: -2.52

During the past 13 years, the highest Beneish M-Score of Grupo de Inversiones Suramericana was -1.77. The lowest was -3.31. And the median was -2.44.

BOG:GRUPOSURA
86GF Score
Grupo de Inversiones Suramericana SA BOG:GRUPOSURA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Grupo de Inversiones Suramericana 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 Grupo de Inversiones Suramericana 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 * 1.4357+0.528 * 1+0.404 * 1+0.892 * 1.0156+0.115 * 0.9517
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1079+4.679 * -0.009343-0.327 * 2.1803
=-2.52

* 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 COP4,978,792 Mil.
Revenue was 7129153 + 4432323 + 8166818 + 7844718 = COP27,573,012 Mil.
Gross Profit was 7129153 + 4432323 + 8166818 + 7844718 = COP27,573,012 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP94,453,584 Mil.
Property, Plant and Equipment(Net PPE) was COP1,847,724 Mil.
Depreciation, Depletion and Amortization(DDA) was COP572,391 Mil.
Selling, General, & Admin. Expense(SGA) was COP2,700,573 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP11,586,872 Mil.
Net Income was 508574 + -617331 + 1237687 + 701805 = COP1,830,735 Mil.
Non Operating Income was 61833 + -2483568 + 866206 + 814433 = COP-741,096 Mil.
Cash Flow from Operations was 608229 + 637071 + 1351554 + 857439 = COP3,454,293 Mil.
 Total Receivables was COP3,414,624 Mil.
Revenue was 6439484 + 4134423 + 7713750 + 8862908 = COP27,150,565 Mil.
Gross Profit was 6439484 + 4134423 + 7713750 + 8862908 = COP27,150,565 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP95,353,080 Mil.
Property, Plant and Equipment(Net PPE) was COP1,868,513 Mil.
Depreciation, Depletion and Amortization(DDA) was COP542,785 Mil.
Selling, General, & Admin. Expense(SGA) was COP2,400,131 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP5,364,932 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)
=(4978792 / 27573012) / (3414624 / 27150565)
=0.180568 / 0.125766
=1.4357

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)
=(27150565 / 27150565) / (27573012 / 27573012)
=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 + 1847724) / 94453584) / (1 - (0 + 1868513) / 95353080)
=0.980438 / 0.980404
=1

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
=27573012 / 27150565
=1.0156

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))
=(542785 / (542785 + 1868513)) / (572391 / (572391 + 1847724))
=0.225101 / 0.236514
=0.9517

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)
=(2700573 / 27573012) / (2400131 / 27150565)
=0.097943 / 0.088401
=1.1079

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)
=((11586872 + 0) / 94453584) / ((5364932 + 0) / 95353080)
=0.122673 / 0.056264
=2.1803

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
=(1830735 - -741096 - 3454293) / 94453584
=-0.009343

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.

Grupo de Inversiones Suramericana has a M-score of -2.52 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 -2.52 mean?
Grupo de Inversiones Suramericana (BOG:GRUPOSURA) has a Beneish M-Score of -2.52 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Grupo de Inversiones Suramericana and its competitors. According to the industry distribution chart, Grupo de Inversiones Suramericana ranks #184 out of 397 companies in the Insurance industry, placing it in the top 46.3%.
Is Grupo de Inversiones Suramericana's Beneish M-Score too high?
Grupo de Inversiones Suramericana's current Beneish M-Score is -2.52. Based on the distribution chart, Grupo de Inversiones Suramericana ranks #184 out of 397 companies in the Insurance industry, which is above the industry midpoint. Overall, Grupo de Inversiones Suramericana has a GF Score™ of 86/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Grupo de Inversiones Suramericana's Beneish M-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Grupo de Inversiones Suramericana ranks #184 out of 397 companies for Beneish M-Score. This puts Grupo de Inversiones Suramericana 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 Grupo de Inversiones Suramericana and its competitors. Grupo de Inversiones Suramericana's current Beneish M-Score is -2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grupo de Inversiones Suramericana stock overvalued right now?
Based on GuruFocus' analysis, Grupo de Inversiones Suramericana (BOG:GRUPOSURA) is currently considered Modestly Undervalued. The stock's GF Value™ is COP64,078.99, compared to a current price of COP53,400.00 — trading 16.7% below its estimated fair value. The current Beneish M-Score is -2.52. Grupo de Inversiones Suramericana's overall GF Score™ is 86/100 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 Grupo de Inversiones Suramericana (BOG:GRUPOSURA), the current Beneish M-Score is -2.52 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 Grupo de Inversiones Suramericana (BOG:GRUPOSURA) Overvalued in 2026?

Based on GuruFocus' analysis, Grupo de Inversiones Suramericana stock appears to be undervalued. The current stock price of COP53,400.00 is trading 16.7% below its estimated GF Value™ of COP64,078.99. GuruFocus considers Grupo de Inversiones Suramericana to be Modestly Undervalued.

Key valuation signals for BOG:GRUPOSURA:

  • Beneish M-Score: -2.52
  • GF Value™: COP64,078.99 vs. price of COP53,400.00 (16.7% below fair value)
  • GF Score™: 86/100 with 4 warning signs

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

Grupo de Inversiones Suramericana Business Description

Address Carrera 43A, No. 5A - 113, Ed. One Plaza, North Tower, El Poblado, Medellin, COL, 05001000
Grupo de Inversiones Suramericana SA is a Latin American investment holding company with holdings in Colombian entities. It also holds stakes in companies throughout the Americas, including Chile, Mexico, Peru, Colombia, and Uruguay. The group's investment portfolio is mostly concentrated in the financial, pension, insurance, social security, and complementary services industries. The company also holds smaller stakes in processed food, cement, and energy companies. It targets companies that emphasize innovation and offer complementary services across its portfolio holdings.
86GF Score

Get the complete analysis for BOG:GRUPOSURA

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

COP53,400.00
Price
COP64,078.99
GF Value