Grupo Cibest (BOG:PFCIBEST) Beneish M-Score: -2.46 (As of Jun. 25, 2026)


BOG:PFCIBEST Grupo Cibest SA BOG:PFCIBEST
72 GF Score
Price COP66,800.00
GF Value COP53,894.81
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Grupo Cibest Beneish M-Score?

Grupo Cibest BOG:PFCIBEST -3.61% 72 Beneish M-Score is -2.46 as of Jun. 25, 2026. GuruFocus rates BOG:PFCIBEST with a GF Score™ of 72/100 and a GF Value™ of COP53,894.81 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,396 Banks companies, Grupo Cibest ranks better than 62.32% 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 Grupo Cibest's Beneish M-Score or its related term are showing as below:

BOG:PFCIBEST' s Beneish M-Score Range Over the Past 10 Years
Min: -2.74   Med: -2.32   Max: 13.54
Current: -2.46

During the past 13 years, the highest Beneish M-Score of Grupo Cibest was 13.54. The lowest was -2.74. And the median was -2.32.

BOG:PFCIBEST
72GF Score
Grupo Cibest SA BOG:PFCIBEST
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Grupo Cibest 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 Cibest 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 * 0.9792+0.528 * 1+0.404 * 1.0033+0.892 * 1.0726+0.115 * 0.8933
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0324+4.679 * -0.023147-0.327 * 0.6855
=-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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was COP27,649,656 Mil.
Revenue was 7392413 + 6051935 + 7343890 + 7136437 = COP27,924,675 Mil.
Gross Profit was 7392413 + 6051935 + 7343890 + 7136437 = COP27,924,675 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP389,144,477 Mil.
Property, Plant and Equipment(Net PPE) was COP6,676,582 Mil.
Depreciation, Depletion and Amortization(DDA) was COP1,041,885 Mil.
Selling, General, & Admin. Expense(SGA) was COP10,672,749 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP18,047,209 Mil.
Net Income was 1457111 + -1852436 + 2144103 + 1791303 = COP3,540,081 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = COP0 Mil.
Cash Flow from Operations was 721371 + 6916505 + -1348890 + 6258479 = COP12,547,465 Mil.
 Total Receivables was COP26,327,305 Mil.
Revenue was 6663973 + 5374023 + 6988185 + 7008832 = COP26,035,013 Mil.
Gross Profit was 6663973 + 5374023 + 6988185 + 7008832 = COP26,035,013 Mil.
Total Current Assets was COP0 Mil.
Total Assets was COP364,125,311 Mil.
Property, Plant and Equipment(Net PPE) was COP7,433,880 Mil.
Depreciation, Depletion and Amortization(DDA) was COP1,019,312 Mil.
Selling, General, & Admin. Expense(SGA) was COP9,638,263 Mil.
Total Current Liabilities was COP0 Mil.
Long-Term Debt & Capital Lease Obligation was COP24,635,540 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)
=(27649656 / 27924675) / (26327305 / 26035013)
=0.990151 / 1.011227
=0.9792

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)
=(26035013 / 26035013) / (27924675 / 27924675)
=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 + 6676582) / 389144477) / (1 - (0 + 7433880) / 364125311)
=0.982843 / 0.979584
=1.0033

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
=27924675 / 26035013
=1.0726

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))
=(1019312 / (1019312 + 7433880)) / (1041885 / (1041885 + 6676582))
=0.120583 / 0.134986
=0.8933

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)
=(10672749 / 27924675) / (9638263 / 26035013)
=0.382198 / 0.370204
=1.0324

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)
=((18047209 + 0) / 389144477) / ((24635540 + 0) / 364125311)
=0.046377 / 0.067657
=0.6855

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
=(3540081 - 0 - 12547465) / 389144477
=-0.023147

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 Cibest 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?
Grupo Cibest (BOG:PFCIBEST) has a Beneish M-Score of -2.46 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Grupo Cibest and its competitors. According to the industry distribution chart, Grupo Cibest ranks #526 out of 1396 companies in the Banks industry, placing it in the top 37.7%.
Is Grupo Cibest's Beneish M-Score too high?
Grupo Cibest's current Beneish M-Score is -2.46. Based on the distribution chart, Grupo Cibest ranks #526 out of 1396 companies in the Banks industry, which is above the industry midpoint. Overall, Grupo Cibest has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Grupo Cibest's Beneish M-Score compare to PNC?
According to the Banks industry distribution chart, Grupo Cibest ranks #526 out of 1396 companies for Beneish M-Score. This puts Grupo Cibest 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 Grupo Cibest and its competitors. Grupo Cibest'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 Grupo Cibest stock overvalued right now?
Based on GuruFocus' analysis, Grupo Cibest (BOG:PFCIBEST) is currently considered Modestly Overvalued. The stock's GF Value™ is COP53,894.81, compared to a current price of COP66,800.00 — trading 23.9% above its estimated fair value. The current Beneish M-Score is -2.46. Grupo Cibest's overall GF Score™ is 72/100 with 6 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 Cibest (BOG:PFCIBEST), the current Beneish M-Score is -2.46 as of Jun. 25, 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 Cibest (BOG:PFCIBEST) Overvalued in 2026?

Based on GuruFocus' analysis, Grupo Cibest stock appears to be overvalued. The current stock price of COP66,800.00 is trading 23.9% above its estimated GF Value™ of COP53,894.81. GuruFocus considers Grupo Cibest to be Modestly Overvalued.

Key valuation signals for BOG:PFCIBEST:

  • Beneish M-Score: -2.46
  • GF Value™: COP53,894.81 vs. price of COP66,800.00 (23.9% above fair value)
  • GF Score™: 72/100 with 6 warning signs

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

Grupo Cibest Business Description

Address Avenida Los Industriales, Carrera 48 No. 26-85, Medellin, COL
Grupo Cibest SA is a full service financial group offering a broad range of financial products and services to a diversified individual and corporate clients through subsidiaries. Its network also includes offshore banking subsidiaries in Panama and Puerto Rico, as well as other adjacent businesses. Its products and services include Savings and Investment, Financing, Factoring, Financial and Operating Leases, Capital Markets, Trading, Cash Management, Foreign Currency and Trade Finance, Bancassurance and Insurance, Investment Banking, Trust and Fiduciary Services, Mortgage Lending Business, among others. Its segments include Banking Colombia, Banking El Salvador, Banking Guatemala, International Banking, Leases, All Other and Banking Panama.
72GF Score

Get the complete analysis for BOG:PFCIBEST

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

COP66,800.00
Price
COP53,894.81
GF Value