HLFN (Home Loan Financial) Beneish M-Score: -2.27 (As of Jun. 24, 2026)


HLFN Home Loan Financial Corp HLFN
68 GF Score
Price $43.43
GF Value $41.32
Valuation Fairly Valued
! 5 Warning Signs
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What is Home Loan Financial Beneish M-Score?

Home Loan Financial HLFN 68 Beneish M-Score is -2.27 as of Jun. 24, 2026. GuruFocus rates HLFN with a GF Score™ of 68/100 and a GF Value™ of $41.32 (Fairly Valued). The stock has 5 warning signs investors should review. Among 1,396 Banks companies, Home Loan Financial ranks worse than 72.06% 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 -2.27 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Home Loan Financial's Beneish M-Score or its related term are showing as below:

HLFN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.88   Med: -2.27   Max: -2.04
Current: -2.27

During the past 13 years, the highest Beneish M-Score of Home Loan Financial was -2.04. The lowest was -3.88. And the median was -2.27.

HLFN
68GF Score
Home Loan Financial Corp HLFN
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Home Loan 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 Home Loan 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 * 0.9696+0.528 * 1+0.404 * 1.0013+0.892 * 1.168+0.115 * 0.963
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0857+4.679 * -0.002946-0.327 * 0.6416
=-2.27

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was $1.87 Mil.
Revenue was $17.57 Mil.
Gross Profit was $17.57 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $361.17 Mil.
Property, Plant and Equipment(Net PPE) was $3.14 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.21 Mil.
Selling, General, & Admin. Expense(SGA) was $0.35 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $30.00 Mil.
Net Income was $7.22 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $8.28 Mil.
 Total Receivables was $1.65 Mil.
Revenue was $15.04 Mil.
Gross Profit was $15.04 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $330.61 Mil.
Property, Plant and Equipment(Net PPE) was $3.32 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.22 Mil.
Selling, General, & Admin. Expense(SGA) was $0.28 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $42.81 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)
=(1.872 / 17.569) / (1.653 / 15.042)
=0.106551 / 0.109892
=0.9696

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)
=(15.042 / 15.042) / (17.569 / 17.569)
=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 + 3.142) / 361.17) / (1 - (0 + 3.317) / 330.606)
=0.9913 / 0.989967
=1.0013

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
=17.569 / 15.042
=1.168

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))
=(0.217 / (0.217 + 3.317)) / (0.214 / (0.214 + 3.142))
=0.061404 / 0.063766
=0.963

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)
=(0.35 / 17.569) / (0.276 / 15.042)
=0.019921 / 0.018349
=1.0857

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)
=((30.004 + 0) / 361.17) / ((42.805 + 0) / 330.606)
=0.083074 / 0.129474
=0.6416

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
=(7.217 - 0 - 8.281) / 361.17
=-0.002946

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.

Home Loan Financial has a M-score of -2.27 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 -2.27 mean?
Home Loan Financial (HLFN) has a Beneish M-Score of -2.27 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Home Loan Financial and its competitors. According to the industry distribution chart, Home Loan Financial ranks #1006 out of 1396 companies in the Banks industry, placing it in the top 72.1%.
Is Home Loan Financial's Beneish M-Score too high?
Home Loan Financial's current Beneish M-Score is -2.27. Based on the distribution chart, Home Loan Financial ranks #1006 out of 1396 companies in the Banks industry, which is below the industry midpoint. Overall, Home Loan Financial has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Home Loan Financial's Beneish M-Score compare to CBWA and ASRV?
According to the Banks industry distribution chart, Home Loan Financial ranks #1006 out of 1396 companies for Beneish M-Score. This places Home Loan 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 Home Loan Financial and its competitors. Home Loan Financial's current Beneish M-Score is -2.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Home Loan Financial stock overvalued right now?
Based on GuruFocus' analysis, Home Loan Financial (HLFN) is currently considered Fairly Valued. The stock's GF Value™ is $41.32, compared to a current price of $43.43 — trading 5.1% above its estimated fair value. The current Beneish M-Score is -2.27. Home Loan Financial's overall GF Score™ is 68/100 with 5 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 Home Loan Financial (HLFN), the current Beneish M-Score is -2.27 as of Jun. 24, 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 Home Loan Financial (HLFN) Overvalued in 2026?

Based on GuruFocus' analysis, Home Loan Financial stock appears to be overvalued. The current stock price of $43.43 is trading 5.1% above its estimated GF Value™ of $41.32. GuruFocus considers Home Loan Financial to be Fairly Valued.

Key valuation signals for HLFN:

  • Beneish M-Score: -2.27
  • GF Value™: $41.32 vs. price of $43.43 (5.1% above fair value)
  • GF Score™: 68/100 with 5 warning signs

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

Home Loan Financial Business Description

Address 413 Main Street, Coshocton, OH, USA, 43812-1547
Home Loan Financial Corp is an Ohio corporation providing insurance and investment services. its main business is originating permanent first-mortgage loans on one- to four-family residential real estate in Coshocton County, Ohio, with limited lending for residential construction, multifamily and nonresidential real estate, commercial loans, and consumer credits. It invests in interest-bearing deposits, U.S. Treasury and agency securities, mortgage-backed securities and other investments. Key deposit products are checking, savings and term certificates, and key lending products are residential and nonresidential mortgage, residential construction and land, commercial and consumer loans. Revenues are generated from financial products and services in its branch areas.
68GF Score

Get the complete analysis for HLFN

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

$43.43
Price
$41.32
GF Value