CB Texim Bank AD (LTS:0QRP) Beneish M-Score: -3.33 (As of Jun. 27, 2026)


LTS:0QRP CB Texim Bank AD LTS:0QRP
58 GF Score
Price лв2.76
GF Value лв5.18
! 2 Warning Signs
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What is CB Texim Bank AD Beneish M-Score?

CB Texim Bank AD LTS:0QRP 58 Beneish M-Score is -3.33 as of Jun. 27, 2026. GuruFocus rates LTS:0QRP with a GF Score™ of 58/100 and a GF Value™ of лв5.18. The stock has 2 warning signs investors should review. Among 1,397 Banks companies, CB Texim Bank AD ranks better than 96.56% 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.

Good Sign:

Beneish M-Score -3.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for CB Texim Bank AD's Beneish M-Score or its related term are showing as below:

LTS:0QRP' s Beneish M-Score Range Over the Past 10 Years
Min: -3.33   Med: -2.5   Max: -1.82
Current: -3.33

During the past 13 years, the highest Beneish M-Score of CB Texim Bank AD was -1.82. The lowest was -3.33. And the median was -2.50.

LTS:0QRP
58GF Score
CB Texim Bank AD LTS:0QRP
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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CB Texim Bank AD 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 CB Texim Bank AD 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 * 1.0047+0.892 * 1.0671+0.115 * 1.1257
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9458+4.679 * -0.216128-0.327 * 0.7594
=-3.33

* 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 лв0.00 Mil.
Revenue was лв29.80 Mil.
Gross Profit was лв29.80 Mil.
Total Current Assets was лв0.00 Mil.
Total Assets was лв952.05 Mil.
Property, Plant and Equipment(Net PPE) was лв29.29 Mil.
Depreciation, Depletion and Amortization(DDA) was лв3.93 Mil.
Selling, General, & Admin. Expense(SGA) was лв5.24 Mil.
Total Current Liabilities was лв0.00 Mil.
Long-Term Debt & Capital Lease Obligation was лв5.05 Mil.
Net Income was лв2.63 Mil.
Gross Profit was лв0.00 Mil.
Cash Flow from Operations was лв208.40 Mil.
 Total Receivables was лв0.00 Mil.
Revenue was лв27.93 Mil.
Gross Profit was лв27.93 Mil.
Total Current Assets was лв0.00 Mil.
Total Assets was лв690.01 Mil.
Property, Plant and Equipment(Net PPE) was лв24.37 Mil.
Depreciation, Depletion and Amortization(DDA) was лв3.74 Mil.
Selling, General, & Admin. Expense(SGA) was лв5.20 Mil.
Total Current Liabilities was лв0.00 Mil.
Long-Term Debt & Capital Lease Obligation was лв4.82 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 / 29.802) / (0 / 27.928)
=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)
=(27.928 / 27.928) / (29.802 / 29.802)
=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 + 29.285) / 952.054) / (1 - (0 + 24.365) / 690.013)
=0.96924 / 0.964689
=1.0047

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
=29.802 / 27.928
=1.0671

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))
=(3.744 / (3.744 + 24.365)) / (3.93 / (3.93 + 29.285))
=0.133196 / 0.11832
=1.1257

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)
=(5.243 / 29.802) / (5.195 / 27.928)
=0.175928 / 0.186014
=0.9458

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)
=((5.045 + 0) / 952.054) / ((4.815 + 0) / 690.013)
=0.005299 / 0.006978
=0.7594

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
=(2.631 - 0 - 208.397) / 952.054
=-0.216128

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.

CB Texim Bank AD has a M-score of -3.33 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 -3.33 mean?
CB Texim Bank AD (LTS:0QRP) has a Beneish M-Score of -3.33 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CB Texim Bank AD and its competitors. According to the industry distribution chart, CB Texim Bank AD ranks #48 out of 1397 companies in the Banks industry, placing it in the top 3.4%.
Is CB Texim Bank AD's Beneish M-Score too high?
CB Texim Bank AD's current Beneish M-Score is -3.33. Based on the distribution chart, CB Texim Bank AD ranks #48 out of 1397 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, CB Texim Bank AD has a GF Score™ of 58/100, reflecting its overall financial health beyond just this single metric.
How does CB Texim Bank AD's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, CB Texim Bank AD ranks #48 out of 1397 companies for Beneish M-Score. This places CB Texim Bank AD in the top 3% of its industry — outperforming the majority of peers. 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 CB Texim Bank AD and its competitors. CB Texim Bank AD's current Beneish M-Score is -3.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CB Texim Bank AD stock overvalued right now?
CB Texim Bank AD (LTS:0QRP) has a current Beneish M-Score of -3.33. The stock's GF Value™ is лв5.18, compared to a current price of лв2.76 — trading 46.7% below its estimated fair value. The current Beneish M-Score is -3.33. CB Texim Bank AD's overall GF Score™ is 58/100 with 2 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 CB Texim Bank AD (LTS:0QRP), the current Beneish M-Score is -3.33 as of Jun. 27, 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 CB Texim Bank AD (LTS:0QRP) Overvalued in 2026?

Based on GuruFocus' analysis, CB Texim Bank AD stock appears to be undervalued. The current stock price of лв2.76 is trading 46.7% below its estimated GF Value™ of лв5.18.

Key valuation signals for LTS:0QRP:

  • Beneish M-Score: -3.33
  • GF Value™: лв5.18 vs. price of лв2.76 (46.7% below fair value)
  • GF Score™: 58/100 with 2 warning signs

No single metric tells the full story. See the LTS:0QRP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

CB Texim Bank AD Business Description

Other Exchanges TXIM:Bulgaria
Address Todor Alexandrov, boulevard 117, Sofia, BGR, 1303
CB Texim Bank AD operates in the banking sector. The company performs general banking functions in Bulgaria.
58GF Score

Get the complete analysis for LTS:0QRP

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

лв2.76
Price
лв5.18
GF Value