American International Group (BUE:AIG) Beneish M-Score: -2.50 (As of Jun. 27, 2026)


BUE:AIG American International Group Inc BUE:AIG
46 GF Score
Price ARS23,180.00
GF Value ARS28,854.61
Valuation Modestly Undervalued
! 2 Warning Signs
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What is American International Group Beneish M-Score?

American International Group BUE:AIG +0.22% 46 Beneish M-Score is -2.50 as of Jun. 27, 2026. GuruFocus rates BUE:AIG with a GF Score™ of 46/100 and a GF Value™ of ARS28,854.61 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 397 Insurance companies, American International Group ranks better than 52.14% 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 -2.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for American International Group's Beneish M-Score or its related term are showing as below:

BUE:AIG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.14   Med: -2.47   Max: -0.86
Current: -2.5

During the past 13 years, the highest Beneish M-Score of American International Group was -0.86. The lowest was -3.14. And the median was -2.47.

BUE:AIG
46GF Score
American International Group Inc BUE:AIG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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American International Group 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 American International Group 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 * 0.976+0.528 * 1+0.404 * 1+0.892 * 1.3382+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9774+4.679 * -0.001853-0.327 * 1.0481
=-2.22

* 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 ARS16,267,183 Mil.
Revenue was 9250789.519 + 9517413.296 + 8693995.399 + 8359309.007 = ARS35,821,507 Mil.
Gross Profit was 9250789.519 + 9517413.296 + 8693995.399 + 8359309.007 = ARS35,821,507 Mil.
Total Current Assets was ARS0 Mil.
Total Assets was ARS225,876,707 Mil.
Property, Plant and Equipment(Net PPE) was ARS0 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS4,633,998 Mil.
Selling, General, & Admin. Expense(SGA) was ARS6,877,464 Mil.
Total Current Liabilities was ARS0 Mil.
Long-Term Debt & Capital Lease Obligation was ARS12,802,332 Mil.
Net Income was 1066861.004 + 1066844.406 + 704808.437 + 1358194.788 = ARS4,196,709 Mil.
Non Operating Income was 1398.245 + -2902.978 + -5432.05 + 7123.399 = ARS187 Mil.
Cash Flow from Operations was 216727.989 + 923146.996 + 1823810.656 + 1651441.39 = ARS4,615,127 Mil.
 Total Receivables was ARS12,455,576 Mil.
Revenue was 7221334.213 + 7244730.072 + 6420627.218 + 5882539.416 = ARS26,769,231 Mil.
Gross Profit was 7221334.213 + 7244730.072 + 6420627.218 + 5882539.416 = ARS26,769,231 Mil.
Total Current Assets was ARS0 Mil.
Total Assets was ARS172,553,003 Mil.
Property, Plant and Equipment(Net PPE) was ARS0 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS3,542,666 Mil.
Selling, General, & Admin. Expense(SGA) was ARS5,258,109 Mil.
Total Current Liabilities was ARS0 Mil.
Long-Term Debt & Capital Lease Obligation was ARS9,331,021 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)
=(16267183.383 / 35821507.221) / (12455575.576 / 26769230.919)
=0.454118 / 0.465294
=0.976

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)
=(26769230.919 / 26769230.919) / (35821507.221 / 35821507.221)
=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 + 0) / 225876706.663) / (1 - (0 + 0) / 172553002.824)
=1 / 1
=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
=35821507.221 / 26769230.919
=1.3382

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))
=(3542665.95 / (3542665.95 + 0)) / (4633998.174 / (4633998.174 + 0))
=1 / 1
=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

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)
=(6877463.954 / 35821507.221) / (5258109.121 / 26769230.919)
=0.191993 / 0.196424
=0.9774

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)
=((12802332.049 + 0) / 225876706.663) / ((9331021.312 + 0) / 172553002.824)
=0.056678 / 0.054076
=1.0481

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
=(4196708.635 - 186.616 - 4615127.031) / 225876706.663
=-0.001853

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.

American International Group has a M-score of -2.22 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 -2.50 mean?
American International Group (BUE:AIG) has a Beneish M-Score of -2.50 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on American International Group and its competitors. According to the industry distribution chart, American International Group ranks #190 out of 397 companies in the Insurance industry, placing it in the top 47.9%.
Is American International Group's Beneish M-Score too high?
American International Group's current Beneish M-Score is -2.50. Based on the distribution chart, American International Group ranks #190 out of 397 companies in the Insurance industry, which is above the industry midpoint. Overall, American International Group has a GF Score™ of 46/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does American International Group's Beneish M-Score compare to HIG and ACGL?
According to the Insurance industry distribution chart, American International Group ranks #190 out of 397 companies for Beneish M-Score. This puts American International Group 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 American International Group and its competitors. American International Group's current Beneish M-Score is -2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is American International Group stock overvalued right now?
Based on GuruFocus' analysis, American International Group (BUE:AIG) is currently considered Modestly Undervalued. The stock's GF Value™ is ARS28,854.61, compared to a current price of ARS23,180.00 — trading 19.7% below its estimated fair value. The current Beneish M-Score is -2.50. American International Group's overall GF Score™ is 46/100 with 2 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 American International Group (BUE:AIG), the current Beneish M-Score is -2.50 as of Jun. 27, 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 American International Group (BUE:AIG) Overvalued in 2026?

Based on GuruFocus' analysis, American International Group stock appears to be undervalued. The current stock price of ARS23,180.00 is trading 19.7% below its estimated GF Value™ of ARS28,854.61. GuruFocus considers American International Group to be Modestly Undervalued.

Key valuation signals for BUE:AIG:

  • Beneish M-Score: -2.50
  • GF Value™: ARS28,854.61 vs. price of ARS23,180.00 (19.7% below fair value)
  • GF Score™: 46/100 with 2 warning signs

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

American International Group Business Description

Address 1271 Avenue of the Americas, New York, NY, USA, 10020
American International Group is one of the largest insurance and financial services firms in the world and has a global footprint. It operates through a wide range of subsidiaries that provide property, casualty, and life insurance. The company recently spun off its life insurance operations (Corebridge), but still retains a minority stake.
46GF Score

Get the complete analysis for BUE:AIG

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

ARS23,180.00
Price
ARS28,854.61
GF Value