EFSG (Enterprise Financial Services Group) Beneish M-Score: -2.61 (As of Aug. 03, 2026)

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EFSG Enterprise Financial Services Group Inc EFSG
41 GF Score
Price $32.00
GF Value $21.69
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Enterprise Financial Services Group Beneish M-Score?

Enterprise Financial Services Group EFSG 41 Beneish M-Score is -2.61 as of Aug. 03, 2026. GuruFocus rates EFSG with a GF Score™ of 41/100 and a GF Value™ of $21.69 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,391 Banks companies, Enterprise Financial Services Group ranks better than 80.88% 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 -2.61 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

EFSG' s Beneish M-Score Range Over the Past 10 Years
Min: -2.93   Med: -2.39   Max: -1.71
Current: -2.61

During the past 9 years, the highest Beneish M-Score of Enterprise Financial Services Group was -1.71. The lowest was -2.93. And the median was -2.39.

EFSG
41GF Score
Enterprise Financial Services Group Inc EFSG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Enterprise Financial Services 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 Enterprise Financial Services 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 * 0.5568+0.528 * 1+0.404 * 1.0033+0.892 * 1.1863+0.115 * 0.9094
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7081+4.679 * 0.001845-0.327 * 0.817
=-2.61

* 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 (Sep25) TTM:Last Year (Sep24) TTM:
Total Receivables was $1.80 Mil.
Revenue was $19.91 Mil.
Gross Profit was $19.91 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $503.59 Mil.
Property, Plant and Equipment(Net PPE) was $10.75 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.92 Mil.
Selling, General, & Admin. Expense(SGA) was $0.21 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $58.37 Mil.
Net Income was $3.46 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $2.54 Mil.
 Total Receivables was $2.72 Mil.
Revenue was $16.78 Mil.
Gross Profit was $16.78 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $446.68 Mil.
Property, Plant and Equipment(Net PPE) was $10.96 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.85 Mil.
Selling, General, & Admin. Expense(SGA) was $0.25 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $63.37 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)
=(1.796 / 19.909) / (2.719 / 16.783)
=0.09021 / 0.162009
=0.5568

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)
=(16.783 / 16.783) / (19.909 / 19.909)
=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 + 10.745) / 503.593) / (1 - (0 + 10.96) / 446.677)
=0.978663 / 0.975463
=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
=19.909 / 16.783
=1.1863

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))
=(0.845 / (0.845 + 10.96)) / (0.918 / (0.918 + 10.745))
=0.07158 / 0.07871
=0.9094

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)
=(0.21 / 19.909) / (0.25 / 16.783)
=0.010548 / 0.014896
=0.7081

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)
=((58.367 + 0) / 503.593) / ((63.367 + 0) / 446.677)
=0.115901 / 0.141863
=0.817

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
=(3.464 - 0 - 2.535) / 503.593
=0.001845

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.

Enterprise Financial Services Group has a M-score of -2.61 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 -2.61 mean?
Enterprise Financial Services Group (EFSG) has a Beneish M-Score of -2.61 as of Aug. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Enterprise Financial Services Group and its competitors. According to the industry distribution chart, Enterprise Financial Services Group ranks #266 out of 1391 companies in the Banks industry, placing it in the top 19.1%.
Is Enterprise Financial Services Group's Beneish M-Score too high?
Enterprise Financial Services Group's current Beneish M-Score is -2.61. Based on the distribution chart, Enterprise Financial Services Group ranks #266 out of 1391 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Enterprise Financial Services Group has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Enterprise Financial Services Group's Beneish M-Score compare to BHDB and HCKG?
According to the Banks industry distribution chart, Enterprise Financial Services Group ranks #266 out of 1391 companies for Beneish M-Score. This places Enterprise Financial Services Group in the top 19% 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 Enterprise Financial Services Group and its competitors. Enterprise Financial Services Group's current Beneish M-Score is -2.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Enterprise Financial Services Group stock overvalued right now?
Based on GuruFocus' analysis, Enterprise Financial Services Group (EFSG) is currently considered Significantly Overvalued. The stock's GF Value™ is $21.69, compared to a current price of $32.00 — trading 47.5% above its estimated fair value. The current Beneish M-Score is -2.61. Enterprise Financial Services Group's overall GF Score™ is 41/100 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 Enterprise Financial Services Group (EFSG), the current Beneish M-Score is -2.61 as of Aug. 03, 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 Enterprise Financial Services Group (EFSG) Overvalued in 2026?

Based on GuruFocus' analysis, Enterprise Financial Services Group stock appears to be overvalued. The current stock price of $32.00 is trading 47.5% above its estimated GF Value™ of $21.69. GuruFocus considers Enterprise Financial Services Group to be Significantly Overvalued.

Key valuation signals for EFSG:

  • Beneish M-Score: -2.61
  • GF Value™: $21.69 vs. price of $32.00 (47.5% above fair value)
  • GF Score™: 41/100 with 6 warning signs

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

Enterprise Financial Services Group Business Description

Address 4091 Mount Royal Boulevard, Allison Park, PA, USA, 15101-2917
Enterprise Financial Services Group Inc is a bank holding company. The company, through its holding, provides banking products and services including personal banking, business banking, business financing, insurance and commercial loans. The primary source of revenue is from providing commercial loans to business customers located within Allegheny and its bi-contiguous counties.
41GF Score

Get the complete analysis for EFSG

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

$32.00
Price
$21.69
GF Value