National Citizen Commercial Joint Stock Bank (HSTC:NVB) Beneish M-Score: 0.00 (As of Jul. 13, 2026)

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HSTC:NVB National Citizen Commercial Joint Stock Bank HSTC:NVB
28 GF Score
Price ₫13,100.00
! 4 Warning Signs
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What is National Citizen Commercial Joint Stock Bank Beneish M-Score?

National Citizen Commercial Joint Stock Bank HSTC:NVB 28 Beneish M-Score is 0.00 as of Jul. 13, 2026. GuruFocus rates HSTC:NVB with a GF Score™ of 28/100. The stock has 4 warning signs investors should review. Among 1,399 Banks companies, National Citizen Commercial Joint Stock Bank ranks worse than 71479.56% 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.

The historical rank and industry rank for National Citizen Commercial Joint Stock Bank's Beneish M-Score or its related term are showing as below:

During the past 12 years, the highest Beneish M-Score of National Citizen Commercial Joint Stock Bank was -1.86. The lowest was -3.50. And the median was -2.62.

HSTC:NVB
28GF Score
National Citizen Commercial Joint Stock Bank HSTC:NVB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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National Citizen Commercial Joint Stock Bank 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 National Citizen Commercial Joint Stock Bank 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 Mil.
Revenue was 971457 + 494197 + 892980 + 906645 = ₫3,265,279 Mil.
Gross Profit was 971457 + 494197 + 892980 + 906645 = ₫3,265,279 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫173,503,702 Mil.
Property, Plant and Equipment(Net PPE) was ₫352,801 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫114,244 Mil.
Selling, General, & Admin. Expense(SGA) was ₫350,983 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫4,997,185 Mil.
Net Income was 216045 + -651975 + 189822 + 311464 = ₫65,356 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was -4978022 + -2239027 + 1601940 + 538646 = ₫-5,076,463 Mil.
 Total Receivables was ₫0 Mil.
Revenue was 679935 + -2488080 + 336204 + 443576 = ₫-1,028,365 Mil.
Gross Profit was 679935 + -2488080 + 336204 + 443576 = ₫-1,028,365 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫130,882,914 Mil.
Property, Plant and Equipment(Net PPE) was ₫264,552 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫48,863 Mil.
Selling, General, & Admin. Expense(SGA) was ₫258,439 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫4,970,421 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 / 3265279) / (0 / -1028365)
=0 /
=

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)
=(-1028365 / -1028365) / (3265279 / 3265279)
= / 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 + 352801) / 173503702) / (1 - (0 + 264552) / 130882914)
=0.997967 / 0.997979
=

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
=3265279 / -1028365
=

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))
=(48863 / (48863 + 264552)) / (114244 / (114244 + 352801))
=0.155905 / 0.24461
=

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)
=(350983 / 3265279) / (258439 / -1028365)
=0.107489 /
=

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)
=((4997185 + 0) / 173503702) / ((4970421 + 0) / 130882914)
=0.028802 / 0.037976
=

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
=(65356 - 0 - -5076463) / 173503702
=0.029635

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
National Citizen Commercial Joint Stock Bank (HSTC:NVB) has a Beneish M-Score of 0.00 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on National Citizen Commercial Joint Stock Bank and its competitors. According to the industry distribution chart, National Citizen Commercial Joint Stock Bank ranks #999999 out of 1399 companies in the Banks industry.
Is National Citizen Commercial Joint Stock Bank's Beneish M-Score too high?
National Citizen Commercial Joint Stock Bank's current Beneish M-Score is 0.00. Based on the distribution chart, National Citizen Commercial Joint Stock Bank ranks #999999 out of 1399 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, National Citizen Commercial Joint Stock Bank has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does National Citizen Commercial Joint Stock Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, National Citizen Commercial Joint Stock Bank ranks #999999 out of 1399 companies for Beneish M-Score. This places National Citizen Commercial Joint Stock Bank 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 National Citizen Commercial Joint Stock Bank and its competitors. National Citizen Commercial Joint Stock Bank's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Citizen Commercial Joint Stock Bank stock overvalued right now?
National Citizen Commercial Joint Stock Bank (HSTC:NVB) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. National Citizen Commercial Joint Stock Bank's overall GF Score™ is 28/100 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 National Citizen Commercial Joint Stock Bank (HSTC:NVB), the current Beneish M-Score is 0.00 as of Jul. 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.

National Citizen Commercial Joint Stock Bank Business Description

Address 28C-28D Ba Trieu, Hang Bai Ward, Hoan Kiem District, Hanoi, VNM
National Citizen Commercial Joint Stock Bank is a Vietnam based company engaged in offering various banking services. It offers banking services to both personal and corporate customers. The portfolio of facilities includes transaction account, term deposit, credit facilities, foreign exchange products, international payments services, e-banking service, card products, treasury service and insurance service, among others.
28GF Score

Get the complete analysis for HSTC:NVB

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

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