BRD-Groupe Societe Generale (FRA:76B) Beneish M-Score: -2.56 (As of Jun. 29, 2026)


FRA:76B BRD-Groupe Societe Generale SA FRA:76B
53 GF Score
Price €6.44
GF Value €4.01
Valuation Significantly Overvalued
! 8 Warning Signs
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What is BRD-Groupe Societe Generale Beneish M-Score?

BRD-Groupe Societe Generale FRA:76B +5.92% 53 Beneish M-Score is -2.56 as of Jun. 29, 2026. GuruFocus rates FRA:76B with a GF Score™ of 53/100 and a GF Value™ of €4.01 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 1,399 Banks companies, BRD-Groupe Societe Generale ranks better than 77.27% 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 -2.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for BRD-Groupe Societe Generale's Beneish M-Score or its related term are showing as below:

FRA:76B' s Beneish M-Score Range Over the Past 10 Years
Min: -3.3   Med: -2.42   Max: -2.01
Current: -2.56

During the past 13 years, the highest Beneish M-Score of BRD-Groupe Societe Generale was -2.01. The lowest was -3.30. And the median was -2.42.

FRA:76B
53GF Score
BRD-Groupe Societe Generale SA FRA:76B
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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BRD-Groupe Societe Generale 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 BRD-Groupe Societe Generale 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 * 1.0016+0.892 * 1.0477+0.115 * 0.8704
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.872+4.679 * -0.032826-0.327 * 0.9289
=-2.56

* 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 €0.0 Mil.
Revenue was 198.109 + 205.734 + 208.451 + 201.832 = €814.1 Mil.
Gross Profit was 198.109 + 205.734 + 208.451 + 201.832 = €814.1 Mil.
Total Current Assets was €0.0 Mil.
Total Assets was €19,014.2 Mil.
Property, Plant and Equipment(Net PPE) was €201.2 Mil.
Depreciation, Depletion and Amortization(DDA) was €57.0 Mil.
Selling, General, & Admin. Expense(SGA) was €57.5 Mil.
Total Current Liabilities was €0.0 Mil.
Long-Term Debt & Capital Lease Obligation was €1,784.6 Mil.
Net Income was 69.794 + 73.402 + 74.376 + 78.319 = €295.9 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0.0 Mil.
Cash Flow from Operations was 633.632 + -544.597 + -91.105 + 922.118 = €920.0 Mil.
 Total Receivables was €0.0 Mil.
Revenue was 204.018 + 193.348 + 194.221 + 185.493 = €777.1 Mil.
Gross Profit was 204.018 + 193.348 + 194.221 + 185.493 = €777.1 Mil.
Total Current Assets was €0.0 Mil.
Total Assets was €16,677.4 Mil.
Property, Plant and Equipment(Net PPE) was €202.4 Mil.
Depreciation, Depletion and Amortization(DDA) was €48.2 Mil.
Selling, General, & Admin. Expense(SGA) was €62.9 Mil.
Total Current Liabilities was €0.0 Mil.
Long-Term Debt & Capital Lease Obligation was €1,685.1 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)
=(0 / 814.126) / (0 / 777.08)
=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)
=(777.08 / 777.08) / (814.126 / 814.126)
=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 + 201.199) / 19014.207) / (1 - (0 + 202.418) / 16677.378)
=0.989418 / 0.987863
=1.0016

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
=814.126 / 777.08
=1.0477

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))
=(48.175 / (48.175 + 202.418)) / (57.038 / (57.038 + 201.199))
=0.192244 / 0.220875
=0.8704

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)
=(57.457 / 814.126) / (62.894 / 777.08)
=0.070575 / 0.080936
=0.872

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)
=((1784.589 + 0) / 19014.207) / ((1685.063 + 0) / 16677.378)
=0.093856 / 0.101039
=0.9289

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
=(295.891 - 0 - 920.048) / 19014.207
=-0.032826

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.

BRD-Groupe Societe Generale has a M-score of -2.56 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 -2.56 mean?
BRD-Groupe Societe Generale (FRA:76B) has a Beneish M-Score of -2.56 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BRD-Groupe Societe Generale and its competitors. According to the industry distribution chart, BRD-Groupe Societe Generale ranks #318 out of 1399 companies in the Banks industry, placing it in the top 22.7%.
Is BRD-Groupe Societe Generale's Beneish M-Score too high?
BRD-Groupe Societe Generale's current Beneish M-Score is -2.56. Based on the distribution chart, BRD-Groupe Societe Generale ranks #318 out of 1399 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, BRD-Groupe Societe Generale has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BRD-Groupe Societe Generale's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, BRD-Groupe Societe Generale ranks #318 out of 1399 companies for Beneish M-Score. This places BRD-Groupe Societe Generale in the top 23% 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 BRD-Groupe Societe Generale and its competitors. BRD-Groupe Societe Generale's current Beneish M-Score is -2.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BRD-Groupe Societe Generale stock overvalued right now?
Based on GuruFocus' analysis, BRD-Groupe Societe Generale (FRA:76B) is currently considered Significantly Overvalued. The stock's GF Value™ is €4.01, compared to a current price of €6.44 — trading 60.6% above its estimated fair value. The current Beneish M-Score is -2.56. BRD-Groupe Societe Generale's overall GF Score™ is 53/100 with 8 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 BRD-Groupe Societe Generale (FRA:76B), the current Beneish M-Score is -2.56 as of Jun. 29, 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 BRD-Groupe Societe Generale (FRA:76B) Overvalued in 2026?

Based on GuruFocus' analysis, BRD-Groupe Societe Generale stock appears to be overvalued. The current stock price of €6.44 is trading 60.6% above its estimated GF Value™ of €4.01. GuruFocus considers BRD-Groupe Societe Generale to be Significantly Overvalued.

Key valuation signals for FRA:76B:

  • Beneish M-Score: -2.56
  • GF Value™: €4.01 vs. price of €6.44 (60.6% above fair value)
  • GF Score™: 53/100 with 8 warning signs

No single metric tells the full story. See the FRA:76B stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

BRD-Groupe Societe Generale Business Description

Other Exchanges BRD:Romania
Address 1-7 Ion Mihalache Boulevard, Sector 1, BRD Tower, Bucharest, ROU, 011171
BRD-Groupe Societe Generale SA provides banking products and services to individuals and enterprises. The company's operation format is broken down into two segments: Retail segment which consists of Individuals and Small business and Non-retail segments which include Small and medium enterprises and large corporate. It offers products including saving and deposits, consumer and housing loans, overdrafts, credit card facilities, funds transfer and payment facilities. Majority of the income for the group is derived from Interest, Fee and commission income and Net trading income.
53GF Score

Get the complete analysis for FRA:76B

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

€6.44
Price
€4.01
GF Value