EBKOF (Erste Group Bank AG.) Beneish M-Score: -2.21 (As of Aug. 10, 2026)

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EBKOF Erste Group Bank AG. EBKOF
65 GF Score
Price $142.25
GF Value $84.93
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Erste Group Bank AG. Beneish M-Score?

Erste Group Bank AG. EBKOF 65 Beneish M-Score is -2.21 as of Aug. 10, 2026. GuruFocus rates EBKOF with a GF Score™ of 65/100 and a GF Value™ of $84.93 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,394 Banks companies, Erste Group Bank AG. ranks worse than 79.27% 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 -2.21 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Erste Group Bank AG.'s Beneish M-Score or its related term are showing as below:

EBKOF' s Beneish M-Score Range Over the Past 10 Years
Min: -2.92   Med: -2.39   Max: -2.07
Current: -2.21

During the past 13 years, the highest Beneish M-Score of Erste Group Bank AG. was -2.07. The lowest was -2.92. And the median was -2.39.

EBKOF
65GF Score
Erste Group Bank AG. EBKOF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Erste Group Bank AG. 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 Erste Group Bank AG. 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 * 1.0005+0.892 * 1.2986+0.115 * 0.8385
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9741+4.679 * 0.006044-0.327 * 0.8428
=-2.15

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was $0 Mil.
Revenue was 4604.839 + 4383.815 + 3545.667 + 3419.014 = $15,953 Mil.
Gross Profit was 4604.839 + 4383.815 + 3545.667 + 3419.014 = $15,953 Mil.
Total Current Assets was $0 Mil.
Total Assets was $531,264 Mil.
Property, Plant and Equipment(Net PPE) was $3,762 Mil.
Depreciation, Depletion and Amortization(DDA) was $892 Mil.
Selling, General, & Admin. Expense(SGA) was $2,060 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $68,849 Mil.
Net Income was 1262.673 + 1016.185 + 1105.386 + 1057.512 = $4,442 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was -3019.585 + 3261.272 + 3552.693 + -2563.38 = $1,231 Mil.
 Total Receivables was $0 Mil.
Revenue was 3280.277 + 3016.216 + 2913.089 + 3075.472 = $12,285 Mil.
Gross Profit was 3280.277 + 3016.216 + 2913.089 + 3075.472 = $12,285 Mil.
Total Current Assets was $0 Mil.
Total Assets was $416,461 Mil.
Property, Plant and Equipment(Net PPE) was $3,171 Mil.
Depreciation, Depletion and Amortization(DDA) was $607 Mil.
Selling, General, & Admin. Expense(SGA) was $1,629 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $64,035 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 / 15953.335) / (0 / 12285.054)
=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)
=(12285.054 / 12285.054) / (15953.335 / 15953.335)
=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 + 3761.521) / 531263.825) / (1 - (0 + 3170.704) / 416461.361)
=0.99292 / 0.992387
=1.0005

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
=15953.335 / 12285.054
=1.2986

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))
=(606.897 / (606.897 + 3170.704)) / (891.502 / (891.502 + 3761.521))
=0.160657 / 0.191596
=0.8385

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)
=(2060.145 / 15953.335) / (1628.602 / 12285.054)
=0.129136 / 0.132568
=0.9741

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)
=((68849.078 + 0) / 531263.825) / ((64034.602 + 0) / 416461.361)
=0.129595 / 0.153759
=0.8428

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
=(4441.756 - 0 - 1231) / 531263.825
=0.006044

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.

Erste Group Bank AG. has a M-score of -2.15 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 -2.21 mean?
Erste Group Bank AG. (EBKOF) has a Beneish M-Score of -2.21 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Erste Group Bank AG. and its competitors. According to the industry distribution chart, Erste Group Bank AG. ranks #1105 out of 1394 companies in the Banks industry, placing it in the top 79.3%.
Is Erste Group Bank AG.'s Beneish M-Score too high?
Erste Group Bank AG.'s current Beneish M-Score is -2.21. Based on the distribution chart, Erste Group Bank AG. ranks #1105 out of 1394 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Erste Group Bank AG. has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Erste Group Bank AG.'s Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Erste Group Bank AG. ranks #1105 out of 1394 companies for Beneish M-Score. This places Erste Group Bank AG. in the lower 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 Erste Group Bank AG. and its competitors. Erste Group Bank AG.'s current Beneish M-Score is -2.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Erste Group Bank AG. stock overvalued right now?
Based on GuruFocus' analysis, Erste Group Bank AG. (EBKOF) is currently considered Significantly Overvalued. The stock's GF Value™ is $84.93, compared to a current price of $142.25 — trading 67.5% above its estimated fair value. The current Beneish M-Score is -2.21. Erste Group Bank AG.'s overall GF Score™ is 65/100 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 Erste Group Bank AG. (EBKOF), the current Beneish M-Score is -2.21 as of Aug. 10, 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 Erste Group Bank AG. (EBKOF) Overvalued in 2026?

Based on GuruFocus' analysis, Erste Group Bank AG. stock appears to be overvalued. The current stock price of $142.25 is trading 67.5% above its estimated GF Value™ of $84.93. GuruFocus considers Erste Group Bank AG. to be Significantly Overvalued.

Key valuation signals for EBKOF:

  • Beneish M-Score: -2.21
  • GF Value™: $84.93 vs. price of $142.25 (67.5% above fair value)
  • GF Score™: 65/100 with 6 warning signs

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

Erste Group Bank AG. Business Description

Address Am Belvedere 1, Vienna, AUT, A-1100
Erste Group Bank AG. is an Austria-based financial services provider catering to the needs of individuals, corporates, small businesses, and other enterprises. It offers a complete range of banking and other financial services, such as savings accounts, asset management (including investment funds), consumer credit and mortgage lending, investment banking, securities and derivatives trading, project finance, foreign exchange trading, leasing, factoring, etc. The Group's operating segments are defined according to the core markets in which it operates and include Austria, Central and Eastern Europe, and Other. Maximum revenue is generated from the Central and Eastern Europe segment, which represents its operations in the Czech Republic, Slovakia, Romania, Hungary, Croatia, and Serbia.
65GF Score

Get the complete analysis for EBKOF

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

$142.25
Price
$84.93
GF Value