FBKIF (First International Bank of Israel) Beneish M-Score: -2.58 (As of Jun. 26, 2026)


FBKIF First International Bank of Israel Ltd FBKIF
67 GF Score
Price $50.00
GF Value $41.90
! 3 Warning Signs
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What is First International Bank of Israel Beneish M-Score?

First International Bank of Israel FBKIF +33.33% 67 Beneish M-Score is -2.58 as of Jun. 26, 2026. GuruFocus rates FBKIF with a GF Score™ of 67/100 and a GF Value™ of $41.90. The stock has 3 warning signs investors should review. Among 1,397 Banks companies, First International Bank of Israel ranks better than 79.03% 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 -2.58 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for First International Bank of Israel's Beneish M-Score or its related term are showing as below:

FBKIF' s Beneish M-Score Range Over the Past 10 Years
Min: -2.58   Med: -2.41   Max: -2.12
Current: -2.58

During the past 13 years, the highest Beneish M-Score of First International Bank of Israel was -2.12. The lowest was -2.58. And the median was -2.41.

FBKIF
67GF Score
First International Bank of Israel Ltd FBKIF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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First International Bank of Israel 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 First International Bank of Israel 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 * 1.0122+0.115 * 1.0773
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2446+4.679 * 0.005507-0.327 * 1.3178
=-2.58

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $0 Mil.
Revenue was $2,240 Mil.
Gross Profit was $2,240 Mil.
Total Current Assets was $0 Mil.
Total Assets was $93,745 Mil.
Property, Plant and Equipment(Net PPE) was $394 Mil.
Depreciation, Depletion and Amortization(DDA) was $71 Mil.
Selling, General, & Admin. Expense(SGA) was $54 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $2,394 Mil.
Net Income was $763 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $246 Mil.
 Total Receivables was $0 Mil.
Revenue was $2,213 Mil.
Gross Profit was $2,213 Mil.
Total Current Assets was $0 Mil.
Total Assets was $83,869 Mil.
Property, Plant and Equipment(Net PPE) was $395 Mil.
Depreciation, Depletion and Amortization(DDA) was $78 Mil.
Selling, General, & Admin. Expense(SGA) was $43 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $1,625 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 / 2240.098) / (0 / 2213.105)
=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)
=(2213.105 / 2213.105) / (2240.098 / 2240.098)
=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 + 394.438) / 93745.002) / (1 - (0 + 395.45) / 83868.867)
=0.995792 / 0.995285
=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
=2240.098 / 2213.105
=1.0122

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))
=(77.605 / (77.605 + 395.45)) / (70.857 / (70.857 + 394.438))
=0.164051 / 0.152284
=1.0773

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)
=(53.986 / 2240.098) / (42.852 / 2213.105)
=0.0241 / 0.019363
=1.2446

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)
=((2393.959 + 0) / 93745.002) / ((1625.328 + 0) / 83868.867)
=0.025537 / 0.019379
=1.3178

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
=(762.558 - 0 - 246.313) / 93745.002
=0.005507

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.

First International Bank of Israel has a M-score of -2.58 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 -2.58 mean?
First International Bank of Israel (FBKIF) has a Beneish M-Score of -2.58 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on First International Bank of Israel and its competitors. According to the industry distribution chart, First International Bank of Israel ranks #293 out of 1397 companies in the Banks industry, placing it in the top 21%.
Is First International Bank of Israel's Beneish M-Score too high?
First International Bank of Israel's current Beneish M-Score is -2.58. Based on the distribution chart, First International Bank of Israel ranks #293 out of 1397 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, First International Bank of Israel has a GF Score™ of 67/100, reflecting its overall financial health beyond just this single metric.
How does First International Bank of Israel's Beneish M-Score compare to PNC?
According to the Banks industry distribution chart, First International Bank of Israel ranks #293 out of 1397 companies for Beneish M-Score. This places First International Bank of Israel in the top 21% 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 First International Bank of Israel and its competitors. First International Bank of Israel's current Beneish M-Score is -2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First International Bank of Israel stock overvalued right now?
First International Bank of Israel (FBKIF) has a current Beneish M-Score of -2.58. The stock's GF Value™ is $41.90, compared to a current price of $50.00 — trading 19.3% above its estimated fair value. The current Beneish M-Score is -2.58. First International Bank of Israel's overall GF Score™ is 67/100 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 First International Bank of Israel (FBKIF), the current Beneish M-Score is -2.58 as of Jun. 26, 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 First International Bank of Israel (FBKIF) Overvalued in 2026?

Based on GuruFocus' analysis, First International Bank of Israel stock appears to be overvalued. The current stock price of $50.00 is trading 19.3% above its estimated GF Value™ of $41.90.

Key valuation signals for FBKIF:

  • Beneish M-Score: -2.58
  • GF Value™: $41.90 vs. price of $50.00 (19.3% above fair value)
  • GF Score™: 67/100 with 3 warning signs

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

First International Bank of Israel Business Description

Other Exchanges FIBI:Israel
Address 42, Rothschild Boulevard, Tel Aviv, ISR, 6688310
First International Bank of Israel Ltd is an Israel-based bank that primarily operates through six segments. The Corporate Banking segment focuses on providing financial services to large corporations in Israel. The Private Banking segment provides banking services to high-net-worth Israeli and foreign resident customers. The Commercial Banking segment serves middle-sized business clients. The Household segment provides relatively low cash volume services to private customers. The Small Business segment primarily serves small businesses. The Financial Management segment carries out asset and liability management activities and others. The company generates almost all of its interest and noninterest income from the Israeli domestic market.
67GF Score

Get the complete analysis for FBKIF

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

$50.00
Price
$41.90
GF Value