GBLI (Global Indemnity Group LLC) Beneish M-Score: -2.16 (As of Sep. 09, 2026)

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GBLI Global Indemnity Group LLC GBLI
59 GF Score
Price $29.50
GF Value $29.14
Valuation Fairly Valued
! 1 Warning Sign
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What is Global Indemnity Group LLC Beneish M-Score?

Global Indemnity Group LLC GBLI +3.44% 59 Beneish M-Score is -2.16 as of Sep. 09, 2026. GuruFocus rates GBLI with a GF Score™ of 59/100 and a GF Value™ of $29.14 (Fairly Valued). The stock has 1 warning sign investors should review. Among 403 Insurance companies, Global Indemnity Group LLC ranks worse than 75.93% 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 -2.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Global Indemnity Group LLC's Beneish M-Score or its related term are showing as below:

GBLI' s Beneish M-Score Range Over the Past 10 Years
Min: -2.9   Med: -2.45   Max: -2.1
Current: -2.16

During the past 13 years, the highest Beneish M-Score of Global Indemnity Group LLC was -2.10. The lowest was -2.90. And the median was -2.45.

GBLI
59GF Score
Global Indemnity Group LLC GBLI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Global Indemnity Group LLC 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 Global Indemnity Group LLC 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 * 1.0628+0.528 * 1+0.404 * 1.0007+0.892 * 1.0383+0.115 * 0.9122
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * 0.037858-0.327 * 0.8253
=-2.16

* 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 $154.7 Mil.
Revenue was 116.102 + 109.177 + 116.729 + 114.198 = $456.2 Mil.
Gross Profit was 116.102 + 109.177 + 116.729 + 114.198 = $456.2 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $1,723.5 Mil.
Property, Plant and Equipment(Net PPE) was $7.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $6.0 Mil.
Selling, General, & Admin. Expense(SGA) was $0.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $7.7 Mil.
Net Income was 11.082 + 4.246 + 6.455 + 12.523 = $34.3 Mil.
Non Operating Income was 0.854 + 0.847 + 0.762 + 0.611 = $3.1 Mil.
Cash Flow from Operations was -15.819 + -17.864 + -6.028 + 5.695 = $-34.0 Mil.
 Total Receivables was $140.1 Mil.
Revenue was 110.52 + 108.651 + 108.448 + 111.761 = $439.4 Mil.
Gross Profit was 110.52 + 108.651 + 108.448 + 111.761 = $439.4 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $1,720.6 Mil.
Property, Plant and Equipment(Net PPE) was $8.8 Mil.
Depreciation, Depletion and Amortization(DDA) was $5.9 Mil.
Selling, General, & Admin. Expense(SGA) was $0.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $9.3 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)
=(154.653 / 456.206) / (140.149 / 439.38)
=0.338998 / 0.31897
=1.0628

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)
=(439.38 / 439.38) / (456.206 / 456.206)
=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 + 7.546) / 1723.493) / (1 - (0 + 8.779) / 1720.585)
=0.995622 / 0.994898
=1.0007

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
=456.206 / 439.38
=1.0383

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))
=(5.939 / (5.939 + 8.779)) / (5.986 / (5.986 + 7.546))
=0.403519 / 0.442359
=0.9122

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 / 456.206) / (0 / 439.38)
=0 / 0
=1

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)
=((7.727 + 0) / 1723.493) / ((9.346 + 0) / 1720.585)
=0.004483 / 0.005432
=0.8253

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
=(34.306 - 3.074 - -34.016) / 1723.493
=0.037858

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.

Global Indemnity Group LLC has a M-score of -2.16 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 -2.16 mean?
Global Indemnity Group LLC (GBLI) has a Beneish M-Score of -2.16 as of Sep. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Global Indemnity Group LLC and its competitors. According to the industry distribution chart, Global Indemnity Group LLC ranks #306 out of 403 companies in the Insurance industry, placing it in the top 75.9%.
Is Global Indemnity Group LLC's Beneish M-Score too high?
Global Indemnity Group LLC's current Beneish M-Score is -2.16. Based on the distribution chart, Global Indemnity Group LLC ranks #306 out of 403 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, Global Indemnity Group LLC has a GF Score™ of 59/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Global Indemnity Group LLC's Beneish M-Score compare to ACIC and AII?
According to the Insurance industry distribution chart, Global Indemnity Group LLC ranks #306 out of 403 companies for Beneish M-Score. This places Global Indemnity Group LLC 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 Global Indemnity Group LLC and its competitors. Global Indemnity Group LLC's current Beneish M-Score is -2.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Global Indemnity Group LLC stock overvalued right now?
Based on GuruFocus' analysis, Global Indemnity Group LLC (GBLI) is currently considered Fairly Valued. The stock's GF Value™ is $29.14, compared to a current price of $29.50 — trading 1.2% above its estimated fair value. The current Beneish M-Score is -2.16. Global Indemnity Group LLC's overall GF Score™ is 59/100 with 1 warning sign 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 Global Indemnity Group LLC (GBLI), the current Beneish M-Score is -2.16 as of Sep. 09, 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 Global Indemnity Group LLC (GBLI) Overvalued in 2026?

Based on GuruFocus' analysis, Global Indemnity Group LLC stock appears to be overvalued. The current stock price of $29.50 is trading 1.2% above its estimated GF Value™ of $29.14. GuruFocus considers Global Indemnity Group LLC to be Fairly Valued.

Key valuation signals for GBLI:

  • Beneish M-Score: -2.16
  • GF Value™: $29.14 vs. price of $29.50 (1.2% above fair value)
  • GF Score™: 59/100 with 1 warning sign

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

Global Indemnity Group LLC Business Description

Address 112 S. French Street, Suite 105, Wilmington, DE, USA, 19801
Global Indemnity Group LLC is a United States-based holding company with a diversified portfolio of property and casualty insurance-related entities. Along with its subsidiaries, the company operates in the following reportable segments: Agency and Insurance Services, Belmont Insurance Companies - Core (Belmont Core), and Belmont Insurance Companies - Non-Core (Belmont Non-Core). Maximum revenue is generated from the Belmont Core segment, which offers direct insurance and assumed reinsurance products in the E&S (Excess and Surplus) marketplace. The Agency and Insurance Services segment is focused on sourcing, underwriting, and servicing primary and assumed reinsurance business; and specialized insurance service businesses providing technology, AI-enabled marketplace, and claims services.
59GF Score

Get the complete analysis for GBLI

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

$29.50
Price
$29.14
GF Value