IPFPF (International Personal Finance) Beneish M-Score: -2.26 (As of Jun. 24, 2026)


IPFPF International Personal Finance PLC IPFPF
51 GF Score
Price $2.83
GF Value $1.75
! 8 Warning Signs
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What is International Personal Finance Beneish M-Score?

International Personal Finance IPFPF 51 Beneish M-Score is -2.26 as of Jun. 24, 2026. GuruFocus rates IPFPF with a GF Score™ of 51/100 and a GF Value™ of $1.75. The stock has 8 warning signs investors should review. Among 483 Credit Services companies, International Personal Finance ranks better than 53.83% 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 -2.26 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

IPFPF' s Beneish M-Score Range Over the Past 10 Years
Min: -4.34   Med: -2.37   Max: -2.07
Current: -2.26

During the past 13 years, the highest Beneish M-Score of International Personal Finance was -2.07. The lowest was -4.34. And the median was -2.37.

IPFPF
51GF Score
International Personal Finance PLC IPFPF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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International Personal Finance 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 International Personal Finance 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 * 1.0003+0.892 * 1.0755+0.115 * 1.0941
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9999+4.679 * 0.043894-0.327 * 1.0202
=-2.20

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $0.0 Mil.
Revenue was $891.8 Mil.
Gross Profit was $891.8 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $1,790.2 Mil.
Property, Plant and Equipment(Net PPE) was $49.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $38.6 Mil.
Selling, General, & Admin. Expense(SGA) was $418.9 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $857.2 Mil.
Net Income was $72.6 Mil.
Gross Profit was $0.0 Mil.
Cash Flow from Operations was $-6.0 Mil.
 Total Receivables was $0.0 Mil.
Revenue was $829.2 Mil.
Gross Profit was $829.2 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $1,443.4 Mil.
Property, Plant and Equipment(Net PPE) was $40.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $37.0 Mil.
Selling, General, & Admin. Expense(SGA) was $389.5 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $677.4 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 / 891.834) / (0 / 829.204)
=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)
=(829.204 / 829.204) / (891.834 / 891.834)
=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 + 49.264) / 1790.228) / (1 - (0 + 40.076) / 1443.363)
=0.972482 / 0.972234
=1.0003

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
=891.834 / 829.204
=1.0755

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))
=(37.042 / (37.042 + 40.076)) / (38.554 / (38.554 + 49.264))
=0.480329 / 0.439022
=1.0941

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)
=(418.876 / 891.834) / (389.507 / 829.204)
=0.469679 / 0.469736
=0.9999

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)
=((857.162 + 0) / 1790.228) / ((677.37 + 0) / 1443.363)
=0.4788 / 0.4693
=1.0202

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
=(72.557 - 0 - -6.024) / 1790.228
=0.043894

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.

International Personal Finance has a M-score of -2.20 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 -2.26 mean?
International Personal Finance (IPFPF) has a Beneish M-Score of -2.26 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on International Personal Finance and its competitors. According to the industry distribution chart, International Personal Finance ranks #223 out of 483 companies in the Credit Services industry, placing it in the top 46.2%.
Is International Personal Finance's Beneish M-Score too high?
International Personal Finance's current Beneish M-Score is -2.26. Based on the distribution chart, International Personal Finance ranks #223 out of 483 companies in the Credit Services industry, which is above the industry midpoint. Overall, International Personal Finance has a GF Score™ of 51/100, reflecting its overall financial health beyond just this single metric.
How does International Personal Finance's Beneish M-Score compare to V and MA?
According to the Credit Services industry distribution chart, International Personal Finance ranks #223 out of 483 companies for Beneish M-Score. This puts International Personal Finance in the upper 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 Credit Services company?
A good Beneish M-Score depends on the Credit Services 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 International Personal Finance and its competitors. International Personal Finance's current Beneish M-Score is -2.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Personal Finance stock overvalued right now?
International Personal Finance (IPFPF) has a current Beneish M-Score of -2.26. The stock's GF Value™ is $1.75, compared to a current price of $2.83 — trading 61.7% above its estimated fair value. The current Beneish M-Score is -2.26. International Personal Finance's overall GF Score™ is 51/100 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 International Personal Finance (IPFPF), the current Beneish M-Score is -2.26 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 International Personal Finance (IPFPF) Overvalued in 2026?

Based on GuruFocus' analysis, International Personal Finance stock appears to be overvalued. The current stock price of $2.83 is trading 61.7% above its estimated GF Value™ of $1.75.

Key valuation signals for IPFPF:

  • Beneish M-Score: -2.26
  • GF Value™: $1.75 vs. price of $2.83 (61.7% above fair value)
  • GF Score™: 51/100 with 8 warning signs

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

International Personal Finance Business Description

Other Exchanges IPFl:UKIPF:UK3I8:Germany
Address 26 Whitehall Road, Leeds, West Yorkshire, GBR, LS12 1BE
International Personal Finance PLC provides consumer loans. The company's segment is based on geographical regions: European home credit, Mexico home credit, and Digital. It generates maximum revenue from the European home credit segment. The company home credit business operates as the Provident brand and makes small, unsecured loans to customers with low or unstable incomes and little to no credit history. Its digital business provides loans and revolving credit lines that customers access online.
51GF Score

Get the complete analysis for IPFPF

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

$2.83
Price
$1.75
GF Value