Asia United Bank (PHS:AUB) Beneish M-Score: -2.47 (As of Jun. 27, 2026)


PHS:AUB Asia United Bank Corp PHS:AUB
66 GF Score
Price ₱44.60
GF Value ₱38.42
Valuation Modestly Overvalued
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What is Asia United Bank Beneish M-Score?

Asia United Bank PHS:AUB +0.56% 66 Beneish M-Score is -2.47 as of Jun. 27, 2026. GuruFocus rates PHS:AUB with a GF Score™ of 66/100 and a GF Value™ of ₱38.42 (Modestly Overvalued). Among 1,397 Banks companies, Asia United Bank ranks better than 64.21% 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 -2.47 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

PHS:AUB' s Beneish M-Score Range Over the Past 10 Years
Min: -3.9   Med: -2.45   Max: -0.88
Current: -2.47

During the past 13 years, the highest Beneish M-Score of Asia United Bank was -0.88. The lowest was -3.90. And the median was -2.45.

PHS:AUB
66GF Score
Asia United Bank Corp PHS:AUB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Asia United Bank 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 Asia United Bank 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 * 1.0002+0.892 * 1.0743+0.115 * 0.975
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0676+4.679 * -0.012418-0.327 * 0.945
=-2.47

* 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 ₱0 Mil.
Revenue was 6193.627 + 5967.176 + 6002.68 + 5594.619 = ₱23,758 Mil.
Gross Profit was 6193.627 + 5967.176 + 6002.68 + 5594.619 = ₱23,758 Mil.
Total Current Assets was ₱0 Mil.
Total Assets was ₱422,523 Mil.
Property, Plant and Equipment(Net PPE) was ₱2,255 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱925 Mil.
Selling, General, & Admin. Expense(SGA) was ₱268 Mil.
Total Current Liabilities was ₱0 Mil.
Long-Term Debt & Capital Lease Obligation was ₱2,539 Mil.
Net Income was 3197.776 + 3344.769 + 3239.889 + 2986.963 = ₱12,769 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₱0 Mil.
Cash Flow from Operations was -6289.934 + -5020.995 + 12520.734 + 16806.644 = ₱18,016 Mil.
 Total Receivables was ₱0 Mil.
Revenue was 5589.26 + 5648.129 + 5660.359 + 5217.237 = ₱22,115 Mil.
Gross Profit was 5589.26 + 5648.129 + 5660.359 + 5217.237 = ₱22,115 Mil.
Total Current Assets was ₱0 Mil.
Total Assets was ₱384,093 Mil.
Property, Plant and Equipment(Net PPE) was ₱2,137 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱847 Mil.
Selling, General, & Admin. Expense(SGA) was ₱234 Mil.
Total Current Liabilities was ₱0 Mil.
Long-Term Debt & Capital Lease Obligation was ₱2,443 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 / 23758.102) / (0 / 22114.985)
=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)
=(22114.985 / 22114.985) / (23758.102 / 23758.102)
=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 + 2254.591) / 422522.56) / (1 - (0 + 2137.306) / 384093.431)
=0.994664 / 0.994435
=1.0002

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
=23758.102 / 22114.985
=1.0743

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))
=(846.679 / (846.679 + 2137.306)) / (925.477 / (925.477 + 2254.591))
=0.283741 / 0.291024
=0.975

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)
=(268.015 / 23758.102) / (233.689 / 22114.985)
=0.011281 / 0.010567
=1.0676

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)
=((2539.305 + 0) / 422522.56) / ((2442.972 + 0) / 384093.431)
=0.00601 / 0.00636
=0.945

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
=(12769.397 - 0 - 18016.449) / 422522.56
=-0.012418

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.

Asia United Bank has a M-score of -2.47 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 -2.47 mean?
Asia United Bank (PHS:AUB) has a Beneish M-Score of -2.47 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Asia United Bank and its competitors. According to the industry distribution chart, Asia United Bank ranks #500 out of 1397 companies in the Banks industry, placing it in the top 35.8%.
Is Asia United Bank's Beneish M-Score too high?
Asia United Bank's current Beneish M-Score is -2.47. Based on the distribution chart, Asia United Bank ranks #500 out of 1397 companies in the Banks industry, which is above the industry midpoint. Overall, Asia United Bank has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Asia United Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Asia United Bank ranks #500 out of 1397 companies for Beneish M-Score. This puts Asia United Bank in the upper 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 Asia United Bank and its competitors. Asia United Bank's current Beneish M-Score is -2.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asia United Bank stock overvalued right now?
Based on GuruFocus' analysis, Asia United Bank (PHS:AUB) is currently considered Modestly Overvalued. The stock's GF Value™ is ₱38.42, compared to a current price of ₱44.60 — trading 16.1% above its estimated fair value. The current Beneish M-Score is -2.47. Asia United Bank's overall GF Score™ is 66/100. 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 Asia United Bank (PHS:AUB), the current Beneish M-Score is -2.47 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 Asia United Bank (PHS:AUB) Overvalued in 2026?

Based on GuruFocus' analysis, Asia United Bank stock appears to be overvalued. The current stock price of ₱44.60 is trading 16.1% above its estimated GF Value™ of ₱38.42. GuruFocus considers Asia United Bank to be Modestly Overvalued.

Key valuation signals for PHS:AUB:

  • Beneish M-Score: -2.47
  • GF Value™: ₱38.42 vs. price of ₱44.60 (16.1% above fair value)
  • GF Score™: 66/100

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

Asia United Bank Business Description

Address No. 17 ADB Avenue, Joy-Nostalg Center, Ortigas Center, Pasig City, PHL, 1600
Asia United Bank Corp is a banking service provider in the Philippines. It offers banking and financial products to corporate and individual customers. It functions through five divisions. Commercial Banking provides lending, trade, and cash management services to corporate and institutional customers. The Consumer Banking segment offers banking services to retail customers. The Treasury segment functions include managing the group's reserve and liquidity position and maintaining its balance sheet by investing in sovereign and corporate debt instruments. The Branch Banking segment, which is the key revenue driver, offers retail deposit products. The Others segment includes the group's income from trust activities, remittances, investment banking, and gains on foreclosed properties.
66GF Score

Get the complete analysis for PHS:AUB

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

₱44.60
Price
₱38.42
GF Value