Casa De Bolsa FinamexB De CV (MEX:FINAMEXO) Beneish M-Score: -2.05 (As of Jul. 02, 2026)


MEX:FINAMEXO Casa De Bolsa Finamex SAB De CV MEX:FINAMEXO
64 GF Score
Price MXN40.75
GF Value MXN49.45
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Casa De Bolsa FinamexB De CV Beneish M-Score?

Casa De Bolsa FinamexB De CV MEX:FINAMEXO 64 Beneish M-Score is -2.05 as of Jul. 02, 2026. GuruFocus rates MEX:FINAMEXO with a GF Score™ of 64/100 and a GF Value™ of MXN49.45 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 705 Capital Markets companies, Casa De Bolsa FinamexB De CV ranks worse than 54.61% 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 -2.05 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Casa De Bolsa FinamexB De CV's Beneish M-Score or its related term are showing as below:

MEX:FINAMEXO' s Beneish M-Score Range Over the Past 10 Years
Min: -3.26   Med: -2.16   Max: 2.4
Current: -2.05

During the past 13 years, the highest Beneish M-Score of Casa De Bolsa FinamexB De CV was 2.40. The lowest was -3.26. And the median was -2.16.

MEX:FINAMEXO
64GF Score
Casa De Bolsa Finamex SAB De CV MEX:FINAMEXO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Casa De Bolsa FinamexB De CV 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 Casa De Bolsa FinamexB De CV 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 * 1.0001+0.892 * 1.523+0.115 * -0.1646
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9722+4.679 * 0.006361-0.327 * 0.805
=-2.05

* 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 MXN0 Mil.
Revenue was 588.224 + 476.957 + 540.519 + 245.05 = MXN1,851 Mil.
Gross Profit was 588.224 + 476.957 + 540.519 + 245.05 = MXN1,851 Mil.
Total Current Assets was MXN0 Mil.
Total Assets was MXN154,829 Mil.
Property, Plant and Equipment(Net PPE) was MXN100 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN-32 Mil.
Selling, General, & Admin. Expense(SGA) was MXN1,254 Mil.
Total Current Liabilities was MXN0 Mil.
Long-Term Debt & Capital Lease Obligation was MXN45 Mil.
Net Income was 152.605 + 114.322 + 178.212 + 23.537 = MXN469 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = MXN0 Mil.
Cash Flow from Operations was 94.09 + -1008.111 + 650.066 + -252.221 = MXN-516 Mil.
 Total Receivables was MXN0 Mil.
Revenue was 431.618 + 413.66 + 194.766 + 175.118 = MXN1,215 Mil.
Gross Profit was 431.618 + 413.66 + 194.766 + 175.118 = MXN1,215 Mil.
Total Current Assets was MXN0 Mil.
Total Assets was MXN143,660 Mil.
Property, Plant and Equipment(Net PPE) was MXN106 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN9 Mil.
Selling, General, & Admin. Expense(SGA) was MXN847 Mil.
Total Current Liabilities was MXN0 Mil.
Long-Term Debt & Capital Lease Obligation was MXN52 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 / 1850.75) / (0 / 1215.162)
=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)
=(1215.162 / 1215.162) / (1850.75 / 1850.75)
=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 + 100.108) / 154828.673) / (1 - (0 + 105.535) / 143659.504)
=0.999353 / 0.999265
=1.0001

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
=1850.75 / 1215.162
=1.523

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))
=(8.927 / (8.927 + 105.535)) / (-32.182 / (-32.182 + 100.108))
=0.077991 / -0.47378
=-0.1646

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)
=(1254.214 / 1850.75) / (847.039 / 1215.162)
=0.677679 / 0.697058
=0.9722

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)
=((44.763 + 0) / 154828.673) / ((51.616 + 0) / 143659.504)
=0.000289 / 0.000359
=0.805

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
=(468.676 - 0 - -516.176) / 154828.673
=0.006361

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.

Casa De Bolsa FinamexB De CV has a M-score of -2.05 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 -2.05 mean?
Casa De Bolsa FinamexB De CV (MEX:FINAMEXO) has a Beneish M-Score of -2.05 as of Jul. 02, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Casa De Bolsa FinamexB De CV and its competitors. According to the industry distribution chart, Casa De Bolsa FinamexB De CV ranks #385 out of 705 companies in the Capital Markets industry, placing it in the top 54.6%.
Is Casa De Bolsa FinamexB De CV's Beneish M-Score too high?
Casa De Bolsa FinamexB De CV's current Beneish M-Score is -2.05. Based on the distribution chart, Casa De Bolsa FinamexB De CV ranks #385 out of 705 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Casa De Bolsa FinamexB De CV has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Casa De Bolsa FinamexB De CV's Beneish M-Score compare to MS and GS?
According to the Capital Markets industry distribution chart, Casa De Bolsa FinamexB De CV ranks #385 out of 705 companies for Beneish M-Score. This places Casa De Bolsa FinamexB De CV 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 Capital Markets company?
A good Beneish M-Score depends on the Capital Markets 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 Casa De Bolsa FinamexB De CV and its competitors. Casa De Bolsa FinamexB De CV's current Beneish M-Score is -2.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Casa De Bolsa FinamexB De CV stock overvalued right now?
Based on GuruFocus' analysis, Casa De Bolsa FinamexB De CV (MEX:FINAMEXO) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN49.45, compared to a current price of MXN40.75 — trading 17.6% below its estimated fair value. The current Beneish M-Score is -2.05. Casa De Bolsa FinamexB De CV's overall GF Score™ is 64/100 with 3 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 Casa De Bolsa FinamexB De CV (MEX:FINAMEXO), the current Beneish M-Score is -2.05 as of Jul. 02, 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 Casa De Bolsa FinamexB De CV (MEX:FINAMEXO) Overvalued in 2026?

Based on GuruFocus' analysis, Casa De Bolsa FinamexB De CV stock appears to be undervalued. The current stock price of MXN40.75 is trading 17.6% below its estimated GF Value™ of MXN49.45. GuruFocus considers Casa De Bolsa FinamexB De CV to be Modestly Undervalued.

Key valuation signals for MEX:FINAMEXO:

  • Beneish M-Score: -2.05
  • GF Value™: MXN49.45 vs. price of MXN40.75 (17.6% below fair value)
  • GF Score™: 64/100 with 3 warning signs

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

Casa De Bolsa FinamexB De CV Business Description

Address Floor 27-28, Colonia Juarez, Paseo de la Reforma No. 342, New York Life Tower, Mexico, MEX, 06600
Casa De Bolsa Finamex SAB De CV is a Mexican brokerage company engaged in providing multi-asset market access. The company offers its products and services to individual, corporate and professional investors on money, derivatives and equity markets and Foreign Exchange.
64GF Score

Get the complete analysis for MEX:FINAMEXO

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

MXN40.75
Price
MXN49.45
GF Value