HOMB (Home BancShares) Beneish M-Score: -2.38 (As of Aug. 13, 2026)

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HOMB Home BancShares Inc HOMB
76 GF Score
Price $31.20
GF Value $29.78
Valuation Fairly Valued
! 3 Warning Signs
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What is Home BancShares Beneish M-Score?

Home BancShares HOMB +0.26% 76 Beneish M-Score is -2.38 as of Aug. 13, 2026. GuruFocus rates HOMB with a GF Score™ of 76/100 and a GF Value™ of $29.78 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,392 Banks companies, Home BancShares ranks worse than 53.74% 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 -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

HOMB' s Beneish M-Score Range Over the Past 10 Years
Min: -2.76   Med: -2.36   Max: -1.6
Current: -2.38

During the past 13 years, the highest Beneish M-Score of Home BancShares was -1.60. The lowest was -2.76. And the median was -2.36.

HOMB
76GF Score
Home BancShares Inc HOMB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Home BancShares 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 BancShares 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 * 0.9366+0.528 * 1+0.404 * 0.9989+0.892 * 1.0741+0.115 * 1.071
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9779+4.679 * 0.001101-0.327 * 0.761
=-2.38

* 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 $108 Mil.
Revenue was 291.527 + 263.055 + 278.463 + 276.17 = $1,109 Mil.
Gross Profit was 291.527 + 263.055 + 278.463 + 276.17 = $1,109 Mil.
Total Current Assets was $0 Mil.
Total Assets was $24,713 Mil.
Property, Plant and Equipment(Net PPE) was $438 Mil.
Depreciation, Depletion and Amortization(DDA) was $31 Mil.
Selling, General, & Admin. Expense(SGA) was $284 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $730 Mil.
Net Income was 119.327 + 118.209 + 118.225 + 123.604 = $479 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 97.444 + 150.835 + 88.705 + 115.164 = $452 Mil.
 Total Receivables was $108 Mil.
Revenue was 266.604 + 256.909 + 254.76 + 254.426 = $1,033 Mil.
Gross Profit was 266.604 + 256.909 + 254.76 + 254.426 = $1,033 Mil.
Total Current Assets was $0 Mil.
Total Assets was $22,907 Mil.
Property, Plant and Equipment(Net PPE) was $380 Mil.
Depreciation, Depletion and Amortization(DDA) was $29 Mil.
Selling, General, & Admin. Expense(SGA) was $271 Mil.
Total Current Liabilities was $0 Mil.
Long-Term Debt & Capital Lease Obligation was $889 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)
=(108.384 / 1109.215) / (107.732 / 1032.699)
=0.097712 / 0.104321
=0.9366

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)
=(1032.699 / 1032.699) / (1109.215 / 1109.215)
=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 + 437.552) / 24713.248) / (1 - (0 + 379.729) / 22907.022)
=0.982295 / 0.983423
=0.9989

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
=1109.215 / 1032.699
=1.0741

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))
=(28.802 / (28.802 + 379.729)) / (30.832 / (30.832 + 437.552))
=0.070501 / 0.065826
=1.071

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)
=(284.281 / 1109.215) / (270.665 / 1032.699)
=0.25629 / 0.262095
=0.9779

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)
=((729.852 + 0) / 24713.248) / ((888.957 + 0) / 22907.022)
=0.029533 / 0.038807
=0.761

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
=(479.365 - 0 - 452.148) / 24713.248
=0.001101

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 BancShares has a M-score of -2.38 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 -2.38 mean?
Home BancShares (HOMB) has a Beneish M-Score of -2.38 as of Aug. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Home BancShares and its competitors. According to the industry distribution chart, Home BancShares ranks #748 out of 1392 companies in the Banks industry, placing it in the top 53.7%.
Is Home BancShares' Beneish M-Score too high?
Home BancShares' current Beneish M-Score is -2.38. Based on the distribution chart, Home BancShares ranks #748 out of 1392 companies in the Banks industry, which is below the industry midpoint. Overall, Home BancShares has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Home BancShares' Beneish M-Score compare to HWC and AUB?
According to the Banks industry distribution chart, Home BancShares ranks #748 out of 1392 companies for Beneish M-Score. This places Home BancShares 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 BancShares and its competitors. Home BancShares's current Beneish M-Score is -2.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Home BancShares stock overvalued right now?
Based on GuruFocus' analysis, Home BancShares (HOMB) is currently considered Fairly Valued. The stock's GF Value™ is $29.78, compared to a current price of $31.20 — trading 4.8% above its estimated fair value. The current Beneish M-Score is -2.38. Home BancShares' overall GF Score™ is 76/100 with 3 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 BancShares (HOMB), the current Beneish M-Score is -2.38 as of Aug. 13, 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 BancShares (HOMB) Overvalued in 2026?

Based on GuruFocus' analysis, Home BancShares stock appears to be overvalued. The current stock price of $31.20 is trading 4.8% above its estimated GF Value™ of $29.78. GuruFocus considers Home BancShares to be Fairly Valued.

Key valuation signals for HOMB:

  • Beneish M-Score: -2.38
  • GF Value™: $29.78 vs. price of $31.20 (4.8% above fair value)
  • GF Score™: 76/100 with 3 warning signs

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

Home BancShares Business Description

Address 719 Harkrider, Suite 100, Conway, AR, USA, 72032
Home BancShares Inc is a bank holding company that operates through its wholly owned community bank subsidiary, Centennial Bank. The bank provides a broad range of commercial and retail banking, as well as related financial services, to a diverse customer base. Its customer base includes businesses, real estate developers and investors, individuals, and municipalities. The company's loan portfolio, while diversified, is typically between half and two thirds in commercial real estate loans. The company's plan emphasizes growth, both through strategic acquisitions and organically within its existing markets. The company has one reportable segment: The Banking Segment.
76GF Score

Get the complete analysis for HOMB

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

$31.20
Price
$29.78
GF Value