FLG (Flagstar Bank NA) Beneish M-Score: -3.40 (As of Jun. 25, 2026)


FLG Flagstar Bank NA FLG
60 GF Score
Price $15.18
GF Value $8.64
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Flagstar Bank NA Beneish M-Score?

Flagstar Bank NA FLG +0.63% 60 Beneish M-Score is -3.40 as of Jun. 25, 2026. GuruFocus rates FLG with a GF Score™ of 60/100 and a GF Value™ of $8.64 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,396 Banks companies, Flagstar Bank NA ranks better than 96.85% 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 -3.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

FLG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.64   Med: -2.19   Max: -1.44
Current: -3.4

During the past 13 years, the highest Beneish M-Score of Flagstar Bank NA was -1.44. The lowest was -3.64. And the median was -2.19.

FLG
60GF Score
Flagstar Bank NA FLG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Flagstar Bank NA 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 Flagstar Bank NA 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+0.528 * 1+0.404 * 0.9995+0.892 * 0.8922+0.115 * 1.1457
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7892+4.679 * -0.003983-0.327 * 0.8064
=-3.40

* 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 $0 Mil.
Revenue was 498 + 557 + 519 + 496 = $2,070 Mil.
Gross Profit was 498 + 557 + 519 + 496 = $2,070 Mil.
Total Current Assets was $0 Mil.
Total Assets was $87,129 Mil.
Property, Plant and Equipment(Net PPE) was $474 Mil.
Depreciation, Depletion and Amortization(DDA) was $144 Mil.
Selling, General, & Admin. Expense(SGA) was $1,333 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $7,685 Mil.
Net Income was 21 + 29 + -36 + -70 = $-56 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was -118 + -189 + 243 + 355 = $291 Mil.
 Total Receivables was $2,057 Mil.
Revenue was 490 + 536 + 623 + 671 = $2,320 Mil.
Gross Profit was 490 + 536 + 623 + 671 = $2,320 Mil.
Total Current Assets was $0 Mil.
Total Assets was $97,628 Mil.
Property, Plant and Equipment(Net PPE) was $486 Mil.
Depreciation, Depletion and Amortization(DDA) was $177 Mil.
Selling, General, & Admin. Expense(SGA) was $1,893 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $10,678 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 / 2070) / (2057 / 2320)
=0 / 0.886638
=0

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)
=(2320 / 2320) / (2070 / 2070)
=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 + 474) / 87129) / (1 - (0 + 486) / 97628)
=0.99456 / 0.995022
=0.9995

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
=2070 / 2320
=0.8922

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))
=(177 / (177 + 486)) / (144 / (144 + 474))
=0.266968 / 0.23301
=1.1457

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)
=(1333 / 2070) / (1893 / 2320)
=0.643961 / 0.815948
=0.7892

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)
=((7685 + 0) / 87129) / ((10678 + 0) / 97628)
=0.088203 / 0.109374
=0.8064

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
=(-56 - 0 - 291) / 87129
=-0.003983

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.

Flagstar Bank NA has a M-score of -3.40 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 -3.40 mean?
Flagstar Bank NA (FLG) has a Beneish M-Score of -3.40 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Flagstar Bank NA and its competitors. According to the industry distribution chart, Flagstar Bank NA ranks #44 out of 1396 companies in the Banks industry, placing it in the top 3.2%.
Is Flagstar Bank NA's Beneish M-Score too high?
Flagstar Bank NA's current Beneish M-Score is -3.40. Based on the distribution chart, Flagstar Bank NA ranks #44 out of 1396 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Flagstar Bank NA has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Flagstar Bank NA's Beneish M-Score compare to UBSI and ABCB?
According to the Banks industry distribution chart, Flagstar Bank NA ranks #44 out of 1396 companies for Beneish M-Score. This places Flagstar Bank NA in the top 3% 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 Flagstar Bank NA and its competitors. Flagstar Bank NA's current Beneish M-Score is -3.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Flagstar Bank NA stock overvalued right now?
Based on GuruFocus' analysis, Flagstar Bank NA (FLG) is currently considered Significantly Overvalued. The stock's GF Value™ is $8.64, compared to a current price of $15.18 — trading 75.6% above its estimated fair value. The current Beneish M-Score is -3.40. Flagstar Bank NA's overall GF Score™ is 60/100 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 Flagstar Bank NA (FLG), the current Beneish M-Score is -3.40 as of Jun. 25, 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 Flagstar Bank NA (FLG) Overvalued in 2026?

Based on GuruFocus' analysis, Flagstar Bank NA stock appears to be overvalued. The current stock price of $15.18 is trading 75.6% above its estimated GF Value™ of $8.64. GuruFocus considers Flagstar Bank NA to be Significantly Overvalued.

Key valuation signals for FLG:

  • Beneish M-Score: -3.40
  • GF Value™: $8.64 vs. price of $15.18 (75.6% above fair value)
  • GF Score™: 60/100 with 6 warning signs

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

Flagstar Bank NA Business Description

Other Exchanges FLGpA.PFD:USAQC10:Germany
Address 102 Duffy Avenue, Hicksville, Hicksville, NY, USA, 11801
Flagstar Bank NA operates as a regional bank in the United-States. The group operates approximately 340 locations across ten states, with footholds in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a notable presence in fast-growing markets in Florida and the West Coast. In addition, the Bank has private banking teams located in several cities in the metropolitan New York City region and on the West Coast, which serve the needs of high-net-worth individuals and their businesses. It offers a variety of banking products and services, including consumer and commercial banking, mortgage lending, and wealth management through its subsidiaries. It serves individuals, small businesses, and corporations.
60GF Score

Get the complete analysis for FLG

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

$15.18
Price
$8.64
GF Value