Visa (BUE:V) Beneish M-Score: -2.60 (As of Jul. 13, 2026)

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Visa Inc BUE:V

98 GF Score

Price ARS30,300.00

GF Value ARS36,370.77

Valuation Modestly Undervalued

3 Warning Signs

View Full Analysis

What is Visa Beneish M-Score?

Visa BUE:V -0.33% 98 Beneish M-Score is -2.60 as of Jul. 13, 2026. GuruFocus rates BUE:V with a GF Score™ of 98/100 and a GF Value™ of ARS36,370.77 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 485 Credit Services companies, Visa ranks better than 74.43% on this metric.

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 -2.6 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BUE:V' s Beneish M-Score Range Over the Past 10 Years
Min: -2.86 Med: -2.5 Max: -0.49
Current: -2.6

During the past 13 years, the highest Beneish M-Score of Visa was -0.49. The lowest was -2.86. And the median was -2.50.

Visa Beneish M-Score Related Terms

Visa Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Visa's Beneish M-Score can be seen below:

* 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.

Visa Beneish M-Score Chart

Visa Annual Data

Trend

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Sep25

Beneish M-Score

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-2.42

-2.61

-2.53

-2.06

-2.55

Visa Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.43	-2.12	-2.55	-2.55	-2.60

BUE:V vs MA, AXP, COF: Beneish M-Score Comparison

For the Credit Services subindustry, Visa's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Visa Beneish M-Score vs Credit Services Industry

For the Credit Services industry and Financial Services sector, Visa's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Visa's Beneish M-Score falls into.

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98GF Score

Visa Inc BUE:V

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

View Full Analysis

Visa 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 Visa for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.663

0.528 * 0.9848

0.404 * 1.025

0.892 * 1.5744

0.115 * 0.9908

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.063

4.679 * 0.014841

0.327 * 1.0659

-2.24

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ARS7,747,676 Mil.
Revenue was 15702292.367 + 15822681.46 + 14563325.001 + 12076536.176 = ARS58,164,835 Mil.
Gross Profit was 12764579.432 + 12924057.951 + 11873102.432 + 9734125.06 = ARS47,295,865 Mil.
Total Current Assets was ARS44,219,501 Mil.
Total Assets was ARS132,901,798 Mil.
Property, Plant and Equipment(Net PPE) was ARS6,680,815 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS1,744,286 Mil.
Selling, General, & Admin. Expense(SGA) was ARS6,531,282 Mil.
Total Current Liabilities was ARS40,655,374 Mil.
Long-Term Debt & Capital Lease Obligation was ARS31,344,460 Mil.
Net Income was 8418833.69 + 8495565.048 + 6912283.127 + 6259093.464 = ARS30,085,775 Mil.
Non Operating Income was -295029.714 + -762031.719 + -839251.665 + -498637.947 = ARS-2,394,951 Mil.
Cash Flow from Operations was 4205921.232 + 9841095.34 + 8471281.365 + 7990079.479 = ARS30,508,377 Mil.

Total Receivables was ARS7,422,815 Mil.
Revenue was 10227558.377 + 9605100.096 + 9140958.098 + 7969949.886 = ARS36,943,566 Mil.
Gross Profit was 8222342.898 + 7564900.076 + 7413899.674 + 6382228.409 = ARS29,583,371 Mil.
Total Current Assets was ARS35,108,860 Mil.
Total Assets was ARS98,984,728 Mil.
Property, Plant and Equipment(Net PPE) was ARS4,288,667 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS1,106,810 Mil.
Selling, General, & Admin. Expense(SGA) was ARS3,902,483 Mil.
Total Current Liabilities was ARS32,387,268 Mil.
Long-Term Debt & Capital Lease Obligation was ARS17,924,345 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)
	=	(7747676.047 / 58164835.004)	/	(7422815.195 / 36943566.457)
	=	0.133202	/	0.200923
	=	0.663

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)
	=	(29583371.057 / 36943566.457)	/	(47295864.875 / 58164835.004)
	=	0.800772	/	0.813135
	=	0.9848

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 - (44219500.989 + 6680815.043) / 132901797.612)	/	(1 - (35108860.494 + 4288666.599) / 98984727.742)
	=	0.617008	/	0.601984
	=	1.025

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
	=	58164835.004	/	36943566.457
	=	1.5744

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))
	=	(1106810.255 / (1106810.255 + 4288666.599))	/	(1744285.87 / (1744285.87 + 6680815.043))
	=	0.205137	/	0.207034
	=	0.9908

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)
	=	(6531282.481 / 58164835.004)	/	(3902483.388 / 36943566.457)
	=	0.112289	/	0.105634
	=	1.063

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)
	=	((31344460.195 + 40655374.253) / 132901797.612)	/	((17924345.064 + 32387268.193) / 98984727.742)
	=	0.541752	/	0.508277
	=	1.0659

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
	=	(30085775.329 - -2394951.045	-	30508377.416)	/	132901797.612
	=	0.014841

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.

Visa has a M-score of -2.24 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 -2.60 mean?

Visa (BUE:V) has a Beneish M-Score of -2.60 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Visa and its competitors. According to the industry distribution chart, Visa ranks #124 out of 485 companies in the Credit Services industry, placing it in the top 25.6%.

Is Visa's Beneish M-Score too high?

Visa's current Beneish M-Score is -2.60. Based on the distribution chart, Visa ranks #124 out of 485 companies in the Credit Services industry, which is above the industry midpoint. Overall, Visa has a GF Score™ of 98/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Visa's Beneish M-Score compare to MA and AXP?

According to the Credit Services industry distribution chart, Visa ranks #124 out of 485 companies for Beneish M-Score. This puts Visa 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 Credit Services company?

A good Beneish M-Score depends on the Credit Services 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 Visa and its competitors. Visa's current Beneish M-Score is -2.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Visa stock overvalued right now?

Based on GuruFocus' analysis, Visa (BUE:V) is currently considered Modestly Undervalued. The stock's GF Value™ is ARS36,370.77, compared to a current price of ARS30,300.00 — trading 16.7% below its estimated fair value. The current Beneish M-Score is -2.60. Visa's overall GF Score™ is 98/100 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 Visa (BUE:V), the current Beneish M-Score is -2.60 as of Jul. 13, 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 Visa (BUE:V) Overvalued in 2026?

Based on GuruFocus' analysis, Visa stock appears to be undervalued. The current stock price of ARS30,300.00 is trading 16.7% below its estimated GF Value™ of ARS36,370.77. GuruFocus considers Visa to be Modestly Undervalued.

Key valuation signals for BUE:V:

Beneish M-Score: -2.60
GF Value™: ARS36,370.77 vs. price of ARS30,300.00 (16.7% below fair value)
GF Score™: 98/100 with 3 warning signs

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

Visa Business Description

Industry Financial Services Credit Services

Comparable Companies MA AXP COF PYPL AFRM SYF SOFI ALLY FCFS KLAR BOM:500034 NSE:SHRIRAMFIN NSE:CHOLAFIN NSE:TATACAP BOM:532810 BOM:533398 BOM:543257 TSE:8593 BOM:532955 BOM:533519

Other Exchanges V:USA VISA:Poland V:Peru V:Mexico 1V:Italy 3V64d:UK 0QZ0:UK 3V64:Germany V:Chile ZV:Canada VISA:Canada VISA34:Brazil VISA:Austria

Address P.O. Box 8999, San Francisco, CA, USA, 94128-8999

Website https://www.visa.com

Visa is the largest payment processor in the world. In fiscal 2025, it processed almost $17 trillion in total volume. Visa operates in over 200 countries and processes transactions in over 160 currencies. Its systems are capable of processing over 65,000 transactions per second.

98GF Score

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

ARS30,300.00

Price

ARS36,370.77

GF Value

View BUE:V Analysis

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