Banco BBVA Peru (LIM:BBVAC1) Beneish M-Score: -2.33 (As of Jul. 06, 2026)


LIM:BBVAC1 Banco BBVA Peru LIM:BBVAC1
46 GF Score
Price S/.1.96
GF Value S/.1.31
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Banco BBVA Peru Beneish M-Score?

Banco BBVA Peru LIM:BBVAC1 +0.46% 46 Beneish M-Score is -2.33 as of Jul. 06, 2026. GuruFocus rates LIM:BBVAC1 with a GF Score™ of 46/100 and a GF Value™ of S/.1.31 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,398 Banks companies, Banco BBVA Peru ranks worse than 62.88% 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 -2.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

LIM:BBVAC1' s Beneish M-Score Range Over the Past 10 Years
Min: -3.14   Med: -2.36   Max: -1.8
Current: -2.33

During the past 13 years, the highest Beneish M-Score of Banco BBVA Peru was -1.80. The lowest was -3.14. And the median was -2.36.

LIM:BBVAC1
46GF Score
Banco BBVA Peru LIM:BBVAC1
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Banco BBVA Peru 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 Banco BBVA Peru 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 * 1.0002+0.892 * 1.0415+0.115 * 0.9867
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0633+4.679 * 0.031727-0.327 * 1.0656
=-2.33

* 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 S/.0 Mil.
Revenue was 2116.303 + 2128.3 + 2021.214 + 2031.864 = S/.8,298 Mil.
Gross Profit was 2116.303 + 2128.3 + 2021.214 + 2031.864 = S/.8,298 Mil.
Total Current Assets was S/.0 Mil.
Total Assets was S/.112,336 Mil.
Property, Plant and Equipment(Net PPE) was S/.1,189 Mil.
Depreciation, Depletion and Amortization(DDA) was S/.270 Mil.
Selling, General, & Admin. Expense(SGA) was S/.1,565 Mil.
Total Current Liabilities was S/.0 Mil.
Long-Term Debt & Capital Lease Obligation was S/.7,877 Mil.
Net Income was 560.075 + 723.632 + 572.507 + 534.697 = S/.2,391 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = S/.0 Mil.
Cash Flow from Operations was 1815.86 + 1748.601 + -2492.561 + -2245.109 = S/.-1,173 Mil.
 Total Receivables was S/.0 Mil.
Revenue was 1966.801 + 2048.338 + 2022.42 + 1929.327 = S/.7,967 Mil.
Gross Profit was 1966.801 + 2048.338 + 2022.42 + 1929.327 = S/.7,967 Mil.
Total Current Assets was S/.0 Mil.
Total Assets was S/.111,189 Mil.
Property, Plant and Equipment(Net PPE) was S/.1,202 Mil.
Depreciation, Depletion and Amortization(DDA) was S/.269 Mil.
Selling, General, & Admin. Expense(SGA) was S/.1,413 Mil.
Total Current Liabilities was S/.0 Mil.
Long-Term Debt & Capital Lease Obligation was S/.7,317 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 / 8297.681) / (0 / 7966.886)
=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)
=(7966.886 / 7966.886) / (8297.681 / 8297.681)
=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 + 1189.268) / 112336.347) / (1 - (0 + 1202.054) / 111188.992)
=0.989413 / 0.989189
=1.0002

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
=8297.681 / 7966.886
=1.0415

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))
=(268.716 / (268.716 + 1202.054)) / (270.252 / (270.252 + 1189.268))
=0.182704 / 0.185165
=0.9867

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)
=(1564.986 / 8297.681) / (1413.135 / 7966.886)
=0.188605 / 0.177376
=1.0633

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)
=((7876.991 + 0) / 112336.347) / ((7316.617 + 0) / 111188.992)
=0.07012 / 0.065803
=1.0656

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
=(2390.911 - 0 - -1173.209) / 112336.347
=0.031727

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.

Banco BBVA Peru has a M-score of -2.33 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 -2.33 mean?
Banco BBVA Peru (LIM:BBVAC1) has a Beneish M-Score of -2.33 as of Jul. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Banco BBVA Peru and its competitors. According to the industry distribution chart, Banco BBVA Peru ranks #879 out of 1398 companies in the Banks industry, placing it in the top 62.9%.
Is Banco BBVA Peru's Beneish M-Score too high?
Banco BBVA Peru's current Beneish M-Score is -2.33. Based on the distribution chart, Banco BBVA Peru ranks #879 out of 1398 companies in the Banks industry, which is below the industry midpoint. Overall, Banco BBVA Peru has a GF Score™ of 46/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Banco BBVA Peru's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Banco BBVA Peru ranks #879 out of 1398 companies for Beneish M-Score. This places Banco BBVA Peru 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 Banco BBVA Peru and its competitors. Banco BBVA Peru's current Beneish M-Score is -2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Banco BBVA Peru stock overvalued right now?
Based on GuruFocus' analysis, Banco BBVA Peru (LIM:BBVAC1) is currently considered Significantly Overvalued. The stock's GF Value™ is S/.1.31, compared to a current price of S/.1.96 — trading 49.8% above its estimated fair value. The current Beneish M-Score is -2.33. Banco BBVA Peru's overall GF Score™ is 46/100 with 6 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 Banco BBVA Peru (LIM:BBVAC1), the current Beneish M-Score is -2.33 as of Jul. 06, 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 Banco BBVA Peru (LIM:BBVAC1) Overvalued in 2026?

Based on GuruFocus' analysis, Banco BBVA Peru stock appears to be overvalued. The current stock price of S/.1.96 is trading 49.8% above its estimated GF Value™ of S/.1.31. GuruFocus considers Banco BBVA Peru to be Significantly Overvalued.

Key valuation signals for LIM:BBVAC1:

  • Beneish M-Score: -2.33
  • GF Value™: S/.1.31 vs. price of S/.1.96 (49.8% above fair value)
  • GF Score™: 46/100 with 6 warning signs

No single metric tells the full story. See the LIM:BBVAC1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Banco BBVA Peru Business Description

Address Avenue Republica de Panama North 3055, San Isidro, Lima, PER
Banco BBVA Peru is a Peru based company engages in providing banking products and services. Its products and services include saving and current accounts, fixed-term deposits, consumer and commercial loans, mortgages, as well as debit and credit cards, among others. The Bank offers its services both to individual and business customers. The company operates in Wholesale Loans, Small and Micro-Business Loans, Consumer Loans, and Mortgage Loans segments.
46GF Score

Get the complete analysis for LIM:BBVAC1

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

S/.1.96
Price
S/.1.31
GF Value