MBOF (Marine Bancorp FLA) Beneish M-Score: -2.22 (As of Aug. 13, 2026)

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MBOF Marine Bancorp FLA Inc MBOF
31 GF Score
Price $43.75
GF Value $18.47
! 7 Warning Signs
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What is Marine Bancorp FLA Beneish M-Score?

Marine Bancorp FLA MBOF 31 Beneish M-Score is -2.22 as of Aug. 13, 2026. GuruFocus rates MBOF with a GF Score™ of 31/100 and a GF Value™ of $18.47. The stock has 7 warning signs investors should review.

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 -2.22 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MBOF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.76   Med: -2.39   Max: -2.03
Current: -2.22

During the past 6 years, the highest Beneish M-Score of Marine Bancorp FLA was -2.03. The lowest was -3.76. And the median was -2.39.

MBOF
31GF Score
Marine Bancorp FLA Inc MBOF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Marine Bancorp FLA 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 Marine Bancorp FLA 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 * 1.0859+0.528 * 1+0.404 * 0.9971+0.892 * 0.8919+0.115 * 1.2502
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9376+4.679 * -0.00607-0.327 * 0.1928
=-2.22

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was $2.61 Mil.
Revenue was $17.99 Mil.
Gross Profit was $17.99 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $646.25 Mil.
Property, Plant and Equipment(Net PPE) was $9.29 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.64 Mil.
Selling, General, & Admin. Expense(SGA) was $0.68 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $6.31 Mil.
Net Income was $2.83 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $6.76 Mil.
 Total Receivables was $2.70 Mil.
Revenue was $20.17 Mil.
Gross Profit was $20.17 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $654.45 Mil.
Property, Plant and Equipment(Net PPE) was $7.53 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.66 Mil.
Selling, General, & Admin. Expense(SGA) was $0.82 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $33.15 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)
=(2.614 / 17.991) / (2.699 / 20.172)
=0.145295 / 0.133799
=1.0859

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)
=(20.172 / 20.172) / (17.991 / 17.991)
=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 + 9.292) / 646.245) / (1 - (0 + 7.533) / 654.449)
=0.985622 / 0.98849
=0.9971

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
=17.991 / 20.172
=0.8919

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))
=(0.659 / (0.659 + 7.533)) / (0.639 / (0.639 + 9.292))
=0.080444 / 0.064344
=1.2502

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)
=(0.684 / 17.991) / (0.818 / 20.172)
=0.038019 / 0.040551
=0.9376

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)
=((6.313 + 0) / 646.245) / ((33.152 + 0) / 654.449)
=0.009769 / 0.050656
=0.1928

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
=(2.832 - 0 - 6.755) / 646.245
=-0.00607

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.

Marine Bancorp FLA has a M-score of -2.22 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 -2.22 mean?
Marine Bancorp FLA (MBOF) has a Beneish M-Score of -2.22 as of Aug. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Marine Bancorp FLA and its competitors.
Is Marine Bancorp FLA's Beneish M-Score too high?
Marine Bancorp FLA's current Beneish M-Score is -2.22. Overall, Marine Bancorp FLA has a GF Score™ of 31/100, reflecting its overall financial health beyond just this single metric.
How does Marine Bancorp FLA's Beneish M-Score compare to FBSI and KLIB?
Marine Bancorp FLA's Beneish M-Score of -2.22 can be compared against companies in the Banks 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 Marine Bancorp FLA and its competitors. Marine Bancorp FLA's current Beneish M-Score is -2.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marine Bancorp FLA stock overvalued right now?
Marine Bancorp FLA (MBOF) has a current Beneish M-Score of -2.22. The stock's GF Value™ is $18.47, compared to a current price of $43.75 — trading 136.9% above its estimated fair value. The current Beneish M-Score is -2.22. Marine Bancorp FLA's overall GF Score™ is 31/100 with 7 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 Marine Bancorp FLA (MBOF), the current Beneish M-Score is -2.22 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 Marine Bancorp FLA (MBOF) Overvalued in 2026?

Based on GuruFocus' analysis, Marine Bancorp FLA stock appears to be overvalued. The current stock price of $43.75 is trading 136.9% above its estimated GF Value™ of $18.47.

Key valuation signals for MBOF:

  • Beneish M-Score: -2.22
  • GF Value™: $18.47 vs. price of $43.75 (136.9% above fair value)
  • GF Score™: 31/100 with 7 warning signs

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

Marine Bancorp FLA Business Description

Address 571 Beachland Boulevard, Vero Beach, FL, USA, 32963
Marine Bancorp FLA Inc, through its subsidiary, is engaged in providing banking and related services. The Bank offers a variety of community banking services to individuals and corporate customers. The company offers Checking, Loans, Debit cards, Credit cards, Commercial Loans, Merchant Services, Business savings and money markets, Mobile Banking and related services. The loan portfolio segment includes Commercial real estate, Residential real estate, Construction and land development, Commercial and Consumer.
31GF Score

Get the complete analysis for MBOF

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

$43.75
Price
$18.47
GF Value