Banco de Occidente (BOG:OCCIDENTE) Beneish M-Score: -2.46 (As of Jun. 26, 2026)


BOG:OCCIDENTE Banco de Occidente SA BOG:OCCIDENTE
53 GF Score
Price COP19,800.00
GF Value COP19,382.60
Valuation Fairly Valued
! 3 Warning Signs
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What is Banco de Occidente Beneish M-Score?

Banco de Occidente BOG:OCCIDENTE +1.54% 53 Beneish M-Score is -2.46 as of Jun. 26, 2026. GuruFocus rates BOG:OCCIDENTE with a GF Score™ of 53/100 and a GF Value™ of COP19,382.60 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,397 Banks companies, Banco de Occidente ranks better than 62.35% 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 -2.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BOG:OCCIDENTE' s Beneish M-Score Range Over the Past 10 Years
Min: -1805.7   Med: -2.4   Max: -1
Current: -2.46

During the past 13 years, the highest Beneish M-Score of Banco de Occidente was -1.00. The lowest was -1805.70. And the median was -2.40.

BOG:OCCIDENTE
53GF Score
Banco de Occidente SA BOG:OCCIDENTE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Banco de Occidente 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 de Occidente 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 * 1.0009+0.892 * 1.067+0.115 * 0.8886
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1398+4.679 * -0.010531-0.327 * 0.8689
=-2.46

* 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was COP0 Mil.
Revenue was 1020673 + 1019028 + 1013242 + 979208 = COP4,032,151 Mil.
Gross Profit was 1020673 + 1019028 + 1013242 + 979208 = COP4,032,151 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP84,570,680 Mil.
Property, Plant and Equipment(Net PPE) was COP431,013 Mil.
Depreciation, Depletion and Amortization(DDA) was COP230,181 Mil.
Selling, General, & Admin. Expense(SGA) was COP252,272 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP7,289,339 Mil.
Net Income was 152483 + 148486 + 145620 + 77799 = COP524,388 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = COP0 Mil.
Cash Flow from Operations was 1678274 + -3468897 + 2407885 + 797698 = COP1,414,960 Mil.
 Total Receivables was COP0 Mil.
Revenue was 982035 + 972710 + 947492 + 876636 = COP3,778,873 Mil.
Gross Profit was 982035 + 972710 + 947492 + 876636 = COP3,778,873 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP75,243,230 Mil.
Property, Plant and Equipment(Net PPE) was COP454,338 Mil.
Depreciation, Depletion and Amortization(DDA) was COP203,498 Mil.
Selling, General, & Admin. Expense(SGA) was COP207,419 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP7,463,806 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 / 4032151) / (0 / 3778873)
=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)
=(3778873 / 3778873) / (4032151 / 4032151)
=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 + 431013) / 84570680) / (1 - (0 + 454338) / 75243230)
=0.994904 / 0.993962
=1.0009

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
=4032151 / 3778873
=1.067

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))
=(203498 / (203498 + 454338)) / (230181 / (230181 + 431013))
=0.309345 / 0.348129
=0.8886

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)
=(252272 / 4032151) / (207419 / 3778873)
=0.062565 / 0.054889
=1.1398

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)
=((7289339 + 0) / 84570680) / ((7463806 + 0) / 75243230)
=0.086192 / 0.099196
=0.8689

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
=(524388 - 0 - 1414960) / 84570680
=-0.010531

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 de Occidente has a M-score of -2.46 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 -2.46 mean?
Banco de Occidente (BOG:OCCIDENTE) has a Beneish M-Score of -2.46 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Banco de Occidente and its competitors. According to the industry distribution chart, Banco de Occidente ranks #526 out of 1397 companies in the Banks industry, placing it in the top 37.7%.
Is Banco de Occidente's Beneish M-Score too high?
Banco de Occidente's current Beneish M-Score is -2.46. Based on the distribution chart, Banco de Occidente ranks #526 out of 1397 companies in the Banks industry, which is above the industry midpoint. Overall, Banco de Occidente has a GF Score™ of 53/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Banco de Occidente's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Banco de Occidente ranks #526 out of 1397 companies for Beneish M-Score. This puts Banco de Occidente 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 de Occidente and its competitors. Banco de Occidente's current Beneish M-Score is -2.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Banco de Occidente stock overvalued right now?
Based on GuruFocus' analysis, Banco de Occidente (BOG:OCCIDENTE) is currently considered Fairly Valued. The stock's GF Value™ is COP19,382.60, compared to a current price of COP19,800.00 — trading 2.2% above its estimated fair value. The current Beneish M-Score is -2.46. Banco de Occidente's overall GF Score™ is 53/100 with 3 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 de Occidente (BOG:OCCIDENTE), the current Beneish M-Score is -2.46 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 de Occidente (BOG:OCCIDENTE) Overvalued in 2026?

Based on GuruFocus' analysis, Banco de Occidente stock appears to be overvalued. The current stock price of COP19,800.00 is trading 2.2% above its estimated GF Value™ of COP19,382.60. GuruFocus considers Banco de Occidente to be Fairly Valued.

Key valuation signals for BOG:OCCIDENTE:

  • Beneish M-Score: -2.46
  • GF Value™: COP19,382.60 vs. price of COP19,800.00 (2.2% above fair value)
  • GF Score™: 53/100 with 3 warning signs

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

Banco de Occidente Business Description

Address CALLE 107 A No. 54, 95 Apartment, Bogota, COL, 401
Banco de Occidente SA is a Colombia based banking firm. The company offers personal banking services, including current and savings accounts; debit and credit cards; revolving credit, and credit warrant, as well as business banking products and services.
53GF Score

Get the complete analysis for BOG:OCCIDENTE

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

COP19,800.00
Price
COP19,382.60
GF Value