PBFS (Pioneer Bancorp) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


PBFS Pioneer Bancorp Inc PBFS
72 GF Score
Price $17.24
GF Value $14.45
Valuation Modestly Overvalued
! 4 Warning Signs
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What is Pioneer Bancorp Beneish M-Score?

Pioneer Bancorp PBFS +0.06% 72 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates PBFS with a GF Score™ of 72/100 and a GF Value™ of $14.45 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,396 Banks companies, Pioneer Bancorp ranks worse than 71633.17% 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.

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

During the past 9 years, the highest Beneish M-Score of Pioneer Bancorp was 0.00. The lowest was 0.00. And the median was 0.00.

PBFS
72GF Score
Pioneer Bancorp Inc PBFS
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Pioneer 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 Pioneer 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 $9.51 Mil.
Revenue was 24.607 + 25.048 + 24.018 + 24.414 = $98.09 Mil.
Gross Profit was 24.607 + 25.048 + 24.018 + 24.414 = $98.09 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $2,221.00 Mil.
Property, Plant and Equipment(Net PPE) was $36.09 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.92 Mil.
Selling, General, & Admin. Expense(SGA) was $37.28 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was 5.29 + 3.743 + 4.33 + 6.451 = $19.81 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -0.161 + 5.675 + 3.905 + 5.063 = $14.48 Mil.
 Total Receivables was $8.38 Mil.
Revenue was 22.808 + 22.264 + 22.015 + 20.886 = $87.97 Mil.
Gross Profit was 22.808 + 22.264 + 22.015 + 20.886 = $87.97 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $2,068.99 Mil.
Property, Plant and Equipment(Net PPE) was $35.81 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.48 Mil.
Selling, General, & Admin. Expense(SGA) was $34.54 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
=(9.506 / 98.087) / (8.379 / 87.973)
=0.096914 / 0.095245
=

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)
=(87.973 / 87.973) / (98.087 / 98.087)
=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 + 36.092) / 2221.002) / (1 - (0 + 35.81) / 2068.985)
=0.98375 / 0.982692
=

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
=98.087 / 87.973
=

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))
=(2.477 / (2.477 + 35.81)) / (1.924 / (1.924 + 36.092))
=0.064696 / 0.05061
=

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)
=(37.281 / 98.087) / (34.541 / 87.973)
=0.380081 / 0.392632
=

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)
=((0 + 0) / 2221.002) / ((0 + 0) / 2068.985)
=0 / 0
=

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
=(19.814 - 0 - 14.482) / 2221.002
=0.002401

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Pioneer Bancorp (PBFS) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Pioneer Bancorp and its competitors. According to the industry distribution chart, Pioneer Bancorp ranks #999999 out of 1396 companies in the Banks industry.
Is Pioneer Bancorp's Beneish M-Score too high?
Pioneer Bancorp's current Beneish M-Score is 0.00. Based on the distribution chart, Pioneer Bancorp ranks #999999 out of 1396 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Pioneer Bancorp has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pioneer Bancorp's Beneish M-Score compare to PLBC and PKBK?
According to the Banks industry distribution chart, Pioneer Bancorp ranks #999999 out of 1396 companies for Beneish M-Score. This places Pioneer Bancorp 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 Pioneer Bancorp and its competitors. Pioneer 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 Pioneer Bancorp stock overvalued right now?
Based on GuruFocus' analysis, Pioneer Bancorp (PBFS) is currently considered Modestly Overvalued. The stock's GF Value™ is $14.45, compared to a current price of $17.24 — trading 19.3% above its estimated fair value. The current Beneish M-Score is 0.00. Pioneer Bancorp's overall GF Score™ is 72/100 with 4 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 Pioneer Bancorp (PBFS), the current Beneish M-Score is 0.00 as of Jun. 25, 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 Pioneer Bancorp (PBFS) Overvalued in 2026?

Based on GuruFocus' analysis, Pioneer Bancorp stock appears to be overvalued. The current stock price of $17.24 is trading 19.3% above its estimated GF Value™ of $14.45. GuruFocus considers Pioneer Bancorp to be Modestly Overvalued.

Key valuation signals for PBFS:

  • Beneish M-Score: 0.00
  • GF Value™: $14.45 vs. price of $17.24 (19.3% above fair value)
  • GF Score™: 72/100 with 4 warning signs

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

Pioneer Bancorp Business Description

Address 652 Albany Shaker Road, Albany, NY, USA, 12211
Pioneer Bancorp Inc is involved in providing banking services. These services include Personal services such as Checking, Savings, eBanking Cards, and Business services such as Business Deposit and operating Accounts, Business eBanking, and Business loans. Some of the other services of the company include Government Banking, Wealth Management, Benefits Consulting and Insurance.
72GF Score

Get the complete analysis for PBFS

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

$17.24
Price
$14.45
GF Value