Peapack Gladstone Financial (FRA:45V) Beneish M-Score: -2.21 (As of Aug. 20, 2026)

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FRA:45V Peapack Gladstone Financial Corp FRA:45V
74 GF Score
Price €39.60
GF Value €33.42
Valuation Modestly Overvalued
! 4 Warning Signs
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What is Peapack Gladstone Financial Beneish M-Score?

Peapack Gladstone Financial FRA:45V -0.50% 74 Beneish M-Score is -2.21 as of Aug. 20, 2026. GuruFocus rates FRA:45V with a GF Score™ of 74/100 and a GF Value™ of €33.42 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,393 Banks companies, Peapack Gladstone Financial ranks worse than 79.9% 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 Peapack Gladstone Financial's Beneish M-Score or its related term are showing as below:

FRA:45V' s Beneish M-Score Range Over the Past 10 Years
Min: -3.17   Med: -2.35   Max: 1.81
Current: -2.21

During the past 13 years, the highest Beneish M-Score of Peapack Gladstone Financial was 1.81. The lowest was -3.17. And the median was -2.35.

FRA:45V
74GF Score
Peapack Gladstone Financial Corp FRA:45V
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Peapack Gladstone Financial 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 Peapack Gladstone Financial 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 * 0.8625+0.528 * 1+0.404 * 1.0005+0.892 * 1.1905+0.115 * 0.9418
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8951+4.679 * -0.007359-0.327 * 0.271
=-2.22

* 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 €29.6 Mil.
Revenue was 73.065 + 69.855 + 65.043 + 58.889 = €266.9 Mil.
Gross Profit was 73.065 + 69.855 + 65.043 + 58.889 = €266.9 Mil.
Total Current Assets was €0.0 Mil.
Total Assets was €6,918.2 Mil.
Property, Plant and Equipment(Net PPE) was €69.2 Mil.
Depreciation, Depletion and Amortization(DDA) was €4.8 Mil.
Selling, General, & Admin. Expense(SGA) was €137.6 Mil.
Total Current Liabilities was €0.0 Mil.
Long-Term Debt & Capital Lease Obligation was €37.0 Mil.
Net Income was 13.864 + 12.242 + 10.384 + 8.206 = €44.7 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0.0 Mil.
Cash Flow from Operations was 44.462 + 21.275 + -0.96 + 30.83 = €95.6 Mil.
 Total Receivables was €28.8 Mil.
Revenue was 58.705 + 58.167 + 57.757 + 49.531 = €224.2 Mil.
Gross Profit was 58.705 + 58.167 + 57.757 + 49.531 = €224.2 Mil.
Total Current Assets was €0.0 Mil.
Total Assets was €6,243.0 Mil.
Property, Plant and Equipment(Net PPE) was €65.7 Mil.
Depreciation, Depletion and Amortization(DDA) was €4.3 Mil.
Selling, General, & Admin. Expense(SGA) was €129.1 Mil.
Total Current Liabilities was €0.0 Mil.
Long-Term Debt & Capital Lease Obligation was €123.1 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)
=(29.564 / 266.852) / (28.792 / 224.16)
=0.110788 / 0.128444
=0.8625

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)
=(224.16 / 224.16) / (266.852 / 266.852)
=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 + 69.181) / 6918.214) / (1 - (0 + 65.745) / 6242.983)
=0.99 / 0.989469
=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
=266.852 / 224.16
=1.1905

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))
=(4.271 / (4.271 + 65.745)) / (4.791 / (4.791 + 69.181))
=0.061 / 0.064768
=0.9418

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)
=(137.618 / 266.852) / (129.144 / 224.16)
=0.515709 / 0.576124
=0.8951

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)
=((36.973 + 0) / 6918.214) / ((123.12 + 0) / 6242.983)
=0.005344 / 0.019721
=0.271

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
=(44.696 - 0 - 95.607) / 6918.214
=-0.007359

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.

Peapack Gladstone Financial has a M-score of -2.22 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?
Peapack Gladstone Financial (FRA:45V) has a Beneish M-Score of -2.21 as of Aug. 20, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Peapack Gladstone Financial and its competitors. According to the industry distribution chart, Peapack Gladstone Financial ranks #1113 out of 1393 companies in the Banks industry, placing it in the top 79.9%.
Is Peapack Gladstone Financial's Beneish M-Score too high?
Peapack Gladstone Financial's current Beneish M-Score is -2.21. Based on the distribution chart, Peapack Gladstone Financial ranks #1113 out of 1393 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Peapack Gladstone Financial has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Peapack Gladstone Financial's Beneish M-Score compare to ALRS and HTB?
According to the Banks industry distribution chart, Peapack Gladstone Financial ranks #1113 out of 1393 companies for Beneish M-Score. This places Peapack Gladstone Financial 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 Peapack Gladstone Financial and its competitors. Peapack Gladstone Financial'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 Peapack Gladstone Financial stock overvalued right now?
Based on GuruFocus' analysis, Peapack Gladstone Financial (FRA:45V) is currently considered Modestly Overvalued. The stock's GF Value™ is €33.42, compared to a current price of €39.60 — trading 18.5% above its estimated fair value. The current Beneish M-Score is -2.21. Peapack Gladstone Financial's overall GF Score™ is 74/100 with 4 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 Peapack Gladstone Financial (FRA:45V), the current Beneish M-Score is -2.21 as of Aug. 20, 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 Peapack Gladstone Financial (FRA:45V) Overvalued in 2026?

Based on GuruFocus' analysis, Peapack Gladstone Financial stock appears to be overvalued. The current stock price of €39.60 is trading 18.5% above its estimated GF Value™ of €33.42. GuruFocus considers Peapack Gladstone Financial to be Modestly Overvalued.

Key valuation signals for FRA:45V:

  • Beneish M-Score: -2.21
  • GF Value™: €33.42 vs. price of €39.60 (18.5% above fair value)
  • GF Score™: 74/100 with 4 warning signs

No single metric tells the full story. See the FRA:45V stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Peapack Gladstone Financial Business Description

Other Exchanges PGC:USA
Address 500 Hills Drive, Suite 300, Bedminster, NJ, USA, 07921
Peapack Gladstone Financial Corp is a bank holding company. Through its subsidiaries, the company offers various wealth management, investment banking, and commercial and personal banking solutions to its clients. The company has two reportable segments: Banking, which generates the maximum revenue, and Wealth Management. The Banking segment includes commercial, commercial real estate, multifamily, residential, and consumer lending activities; treasury management services; escrow management; deposit generation; operation of ATMs; telephone and internet banking services; credit card services, etc. The Wealth Management segment offers investment management services for individuals and institutions; personal trust services; and other financial planning and advisory services.
74GF Score

Get the complete analysis for FRA:45V

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

€39.60
Price
€33.42
GF Value