MSVB (Mid-Southern Bancorp) Beneish M-Score: 0.00 (As of Jul. 31, 2026)

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MSVB Mid-Southern Bancorp Inc MSVB
12 GF Score
Price $17.69
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What is Mid-Southern Bancorp Beneish M-Score?

Mid-Southern Bancorp MSVB +1.09% 12 Beneish M-Score is 0.00 as of Jul. 31, 2026. GuruFocus rates MSVB with a GF Score™ of 12/100.

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.

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

During the past 11 years, the highest Beneish M-Score of Mid-Southern Bancorp was 0.00. The lowest was 0.00. And the median was 0.00.

MSVB
12GF Score
Mid-Southern Bancorp Inc MSVB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Mid-Southern Bancorp 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 Mid-Southern Bancorp 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 * 0.9699+0.528 * 1+0.404 * 0.9999+0.892 * 1.043+0.115 * 0.8943
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9636+4.679 * -0.004056-0.327 * 1.0854
=-2.52

* 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 (Jun23) TTM:Last Year (Jun22) TTM:
Total Receivables was $1.22 Mil.
Revenue was 2.225 + 2.104 + 2.253 + 2.295 = $8.88 Mil.
Gross Profit was 2.225 + 2.104 + 2.253 + 2.295 = $8.88 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $266.27 Mil.
Property, Plant and Equipment(Net PPE) was $2.13 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.20 Mil.
Selling, General, & Admin. Expense(SGA) was $4.37 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $28.20 Mil.
Net Income was 0.4 + 0.34 + 0.376 + 0.512 = $1.63 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 0.675 + 0.795 + 0.421 + 0.817 = $2.71 Mil.
 Total Receivables was $1.20 Mil.
Revenue was 2.344 + 2.018 + 2.109 + 2.04 = $8.51 Mil.
Gross Profit was 2.344 + 2.018 + 2.109 + 2.04 = $8.51 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $266.45 Mil.
Property, Plant and Equipment(Net PPE) was $2.11 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.17 Mil.
Selling, General, & Admin. Expense(SGA) was $4.35 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $26.00 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)
=(1.215 / 8.877) / (1.201 / 8.511)
=0.136871 / 0.141112
=0.9699

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)
=(8.511 / 8.511) / (8.877 / 8.877)
=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 + 2.128) / 266.266) / (1 - (0 + 2.11) / 266.454)
=0.992008 / 0.992081
=0.9999

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
=8.877 / 8.511
=1.043

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))
=(0.173 / (0.173 + 2.11)) / (0.197 / (0.197 + 2.128))
=0.075777 / 0.084731
=0.8943

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)
=(4.374 / 8.877) / (4.352 / 8.511)
=0.492734 / 0.511338
=0.9636

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)
=((28.2 + 0) / 266.266) / ((26 + 0) / 266.454)
=0.105909 / 0.097578
=1.0854

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
=(1.628 - 0 - 2.708) / 266.266
=-0.004056

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.

Mid-Southern Bancorp has a M-score of -2.52 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 0.00 mean?
Mid-Southern Bancorp (MSVB) has a Beneish M-Score of 0.00 as of Jul. 31, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mid-Southern Bancorp and its competitors.
Is Mid-Southern Bancorp's Beneish M-Score too high?
Mid-Southern Bancorp's current Beneish M-Score is 0.00. Overall, Mid-Southern Bancorp has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Mid-Southern Bancorp's Beneish M-Score compare to SHFS and CFOK?
Mid-Southern Bancorp's Beneish M-Score of 0.00 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 Mid-Southern Bancorp and its competitors. Mid-Southern Bancorp's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mid-Southern Bancorp stock overvalued right now?
Mid-Southern Bancorp (MSVB) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Mid-Southern Bancorp's overall GF Score™ is 12/100. 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 Mid-Southern Bancorp (MSVB), the current Beneish M-Score is 0.00 as of Jul. 31, 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.

Mid-Southern Bancorp Business Description

Address 300 North Water Street, Salem, IN, USA, 47167
Mid-Southern Bancorp Inc is a United States-based savings and loan holding company of Mid-Southern Savings Bank. It is engaged in providing a variety of banking services to individuals and business customers. The bank offers personal banking and business banking services. Its services portfolio comprises checking, savings, card services, and loan products. The company also offers online and mobile banking facilities. It derives revenue from interest on loans and, to a lesser extent, interest on investment securities and mortgage-backed securities.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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