Grupo Aval Acciones y Valores (BOG:PFAVAL) Beneish M-Score: -2.57 (As of Jun. 24, 2026)


BOG:PFAVAL Grupo Aval Acciones y Valores SA BOG:PFAVAL
4 GF Score
Price COP907.00
GF Value COP568.42
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Grupo Aval Acciones y Valores Beneish M-Score?

Grupo Aval Acciones y Valores BOG:PFAVAL +0.55% 4 Beneish M-Score is -2.57 as of Jun. 24, 2026. GuruFocus rates BOG:PFAVAL with a GF Score™ of 4/100 and a GF Value™ of COP568.42 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,396 Banks companies, Grupo Aval Acciones y Valores ranks better than 78.08% 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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Grupo Aval Acciones y Valores's Beneish M-Score or its related term are showing as below:

BOG:PFAVAL' s Beneish M-Score Range Over the Past 10 Years
Min: -4.75   Med: -2.36   Max: -1.79
Current: -2.57

During the past 13 years, the highest Beneish M-Score of Grupo Aval Acciones y Valores was -1.79. The lowest was -4.75. And the median was -2.36.

BOG:PFAVAL
4GF Score
Grupo Aval Acciones y Valores SA BOG:PFAVAL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Grupo Aval Acciones y Valores 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 Aval Acciones y Valores 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 * 0.7772+0.528 * 1+0.404 * 0.994+0.892 * 1.1304+0.115 * 1.2167
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9464+4.679 * -0.01623-0.327 * 0.867
=-2.57

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was COP27,330,317 Mil.
Revenue was COP17,371,282 Mil.
Gross Profit was COP17,371,282 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP348,936,677 Mil.
Property, Plant and Equipment(Net PPE) was COP8,725,321 Mil.
Depreciation, Depletion and Amortization(DDA) was COP1,365,747 Mil.
Selling, General, & Admin. Expense(SGA) was COP4,317,862 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP64,402,859 Mil.
Net Income was COP1,721,872 Mil.
Gross Profit was COP0 Mil.
Cash Flow from Operations was COP7,384,970 Mil.
 Total Receivables was COP31,108,304 Mil.
Revenue was COP15,367,361 Mil.
Gross Profit was COP15,367,361 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP327,859,383 Mil.
Property, Plant and Equipment(Net PPE) was COP6,270,506 Mil.
Depreciation, Depletion and Amortization(DDA) was COP1,236,180 Mil.
Selling, General, & Admin. Expense(SGA) was COP4,036,010 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP69,795,729 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)
=(27330317 / 17371282) / (31108304 / 15367361)
=1.573305 / 2.02431
=0.7772

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)
=(15367361 / 15367361) / (17371282 / 17371282)
=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 + 8725321) / 348936677) / (1 - (0 + 6270506) / 327859383)
=0.974995 / 0.980874
=0.994

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
=17371282 / 15367361
=1.1304

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))
=(1236180 / (1236180 + 6270506)) / (1365747 / (1365747 + 8725321))
=0.164677 / 0.135342
=1.2167

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)
=(4317862 / 17371282) / (4036010 / 15367361)
=0.248563 / 0.262635
=0.9464

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)
=((64402859 + 0) / 348936677) / ((69795729 + 0) / 327859383)
=0.184569 / 0.212883
=0.867

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
=(1721872 - 0 - 7384970) / 348936677
=-0.01623

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 Aval Acciones y Valores has a M-score of -2.57 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 -2.57 mean?
Grupo Aval Acciones y Valores (BOG:PFAVAL) has a Beneish M-Score of -2.57 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Grupo Aval Acciones y Valores and its competitors. According to the industry distribution chart, Grupo Aval Acciones y Valores ranks #306 out of 1396 companies in the Banks industry, placing it in the top 21.9%.
Is Grupo Aval Acciones y Valores' Beneish M-Score too high?
Grupo Aval Acciones y Valores' current Beneish M-Score is -2.57. Based on the distribution chart, Grupo Aval Acciones y Valores ranks #306 out of 1396 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Grupo Aval Acciones y Valores has a GF Score™ of 4/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Grupo Aval Acciones y Valores' Beneish M-Score compare to PNC?
According to the Banks industry distribution chart, Grupo Aval Acciones y Valores ranks #306 out of 1396 companies for Beneish M-Score. This places Grupo Aval Acciones y Valores in the top 22% of its industry — outperforming the majority of peers. 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 Grupo Aval Acciones y Valores and its competitors. Grupo Aval Acciones y Valores's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grupo Aval Acciones y Valores stock overvalued right now?
Based on GuruFocus' analysis, Grupo Aval Acciones y Valores (BOG:PFAVAL) is currently considered Significantly Overvalued. The stock's GF Value™ is COP568.42, compared to a current price of COP907.00 — trading 59.6% above its estimated fair value. The current Beneish M-Score is -2.57. Grupo Aval Acciones y Valores' overall GF Score™ is 4/100 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 Grupo Aval Acciones y Valores (BOG:PFAVAL), the current Beneish M-Score is -2.57 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 Grupo Aval Acciones y Valores (BOG:PFAVAL) Overvalued in 2026?

Based on GuruFocus' analysis, Grupo Aval Acciones y Valores stock appears to be overvalued. The current stock price of COP907.00 is trading 59.6% above its estimated GF Value™ of COP568.42. GuruFocus considers Grupo Aval Acciones y Valores to be Significantly Overvalued.

Key valuation signals for BOG:PFAVAL:

  • Beneish M-Score: -2.57
  • GF Value™: COP568.42 vs. price of COP907.00 (59.6% above fair value)
  • GF Score™: 4/100 with 5 warning signs

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

Grupo Aval Acciones y Valores Business Description

Address Carrera 13 No. 26A - 47, Bogota D.C., COL, 110311
Grupo Aval Acciones y Valores SA is a Colombian financial services company. Its segments include: Banking Services segment comprises Banking Services, fund management and trust businesses, storage companies and entities that manage low-value payment systems. Merchant Banking segment comprises Financial Sector (trust and brokerage), Gas and Energy Sector (includes natural gas and energy transportation and distribution businesses), Infrastructure Sector (includes road infrastructure projects, construction services, and operation and maintenance), Hotel Sector (includes hospitality services), Agribusiness Sector (includes palm oil, rubber and rice businesses). Pension and Severance Fund Management segment comprise administrator of pension and severance funds; and Holding segment.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

COP907.00
Price
COP568.42
GF Value