PRK (Park National) Beneish M-Score: -2.02 (As of Jun. 24, 2026)


PRK Park National Corp PRK
70 GF Score
Price $180.83
GF Value $173.98
Valuation Fairly Valued
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What is Park National Beneish M-Score?

Park National PRK +0.90% 70 Beneish M-Score is -2.02 as of Jun. 24, 2026. GuruFocus rates PRK with a GF Score™ of 70/100 and a GF Value™ of $173.98 (Fairly Valued). Among 1,396 Banks companies, Park National ranks worse than 90.54% 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 -2.02 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

PRK' s Beneish M-Score Range Over the Past 10 Years
Min: -2.75   Med: -2.38   Max: -1.28
Current: -2.02

During the past 13 years, the highest Beneish M-Score of Park National was -1.28. The lowest was -2.75. And the median was -2.38.

PRK
70GF Score
Park National Corp PRK
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Park National 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 Park National 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 * 1.0357+0.528 * 1+0.404 * 0.9998+0.892 * 1.1099+0.115 * 1.3848
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.969+4.679 * -0.000916-0.327 * 0.1243
=-2.02

* 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 $73.1 Mil.
Revenue was 159.508 + 144.301 + 141.591 + 141.177 = $586.6 Mil.
Gross Profit was 159.508 + 144.301 + 141.591 + 141.177 = $586.6 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $12,984.0 Mil.
Property, Plant and Equipment(Net PPE) was $110.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $11.1 Mil.
Selling, General, & Admin. Expense(SGA) was $216.5 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $33.9 Mil.
Net Income was 41.687 + 42.639 + 47.158 + 48.119 = $179.6 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 30.866 + 58.216 + 52.572 + 49.847 = $191.5 Mil.
 Total Receivables was $63.6 Mil.
Revenue was 130.123 + 134.111 + 137.644 + 126.631 = $528.5 Mil.
Gross Profit was 130.123 + 134.111 + 137.644 + 126.631 = $528.5 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $9,886.6 Mil.
Property, Plant and Equipment(Net PPE) was $82.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $12.0 Mil.
Selling, General, & Admin. Expense(SGA) was $201.3 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $207.4 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)
=(73.094 / 586.577) / (63.589 / 528.509)
=0.124611 / 0.120318
=1.0357

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)
=(528.509 / 528.509) / (586.577 / 586.577)
=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 + 110.568) / 12983.967) / (1 - (0 + 82.661) / 9886.612)
=0.991484 / 0.991639
=0.9998

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
=586.577 / 528.509
=1.1099

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))
=(11.986 / (11.986 + 82.661)) / (11.129 / (11.129 + 110.568))
=0.126639 / 0.091448
=1.3848

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)
=(216.479 / 586.577) / (201.282 / 528.509)
=0.369055 / 0.380849
=0.969

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)
=((33.877 + 0) / 12983.967) / ((207.44 + 0) / 9886.612)
=0.002609 / 0.020982
=0.1243

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
=(179.603 - 0 - 191.501) / 12983.967
=-0.000916

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.

Park National has a M-score of -2.02 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 -2.02 mean?
Park National (PRK) has a Beneish M-Score of -2.02 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Park National and its competitors. According to the industry distribution chart, Park National ranks #1264 out of 1396 companies in the Banks industry, placing it in the top 90.5%.
Is Park National's Beneish M-Score too high?
Park National's current Beneish M-Score is -2.02. Based on the distribution chart, Park National ranks #1264 out of 1396 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Park National has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Park National's Beneish M-Score compare to TOWN and SFNC?
According to the Banks industry distribution chart, Park National ranks #1264 out of 1396 companies for Beneish M-Score. This places Park National 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 Park National and its competitors. Park National's current Beneish M-Score is -2.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Park National stock overvalued right now?
Based on GuruFocus' analysis, Park National (PRK) is currently considered Fairly Valued. The stock's GF Value™ is $173.98, compared to a current price of $180.83 — trading 3.9% above its estimated fair value. The current Beneish M-Score is -2.02. Park National's overall GF Score™ is 70/100. 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 Park National (PRK), the current Beneish M-Score is -2.02 as of Jun. 24, 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 Park National (PRK) Overvalued in 2026?

Based on GuruFocus' analysis, Park National stock appears to be overvalued. The current stock price of $180.83 is trading 3.9% above its estimated GF Value™ of $173.98. GuruFocus considers Park National to be Fairly Valued.

Key valuation signals for PRK:

  • Beneish M-Score: -2.02
  • GF Value™: $173.98 vs. price of $180.83 (3.9% above fair value)
  • GF Score™: 70/100

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

Park National Business Description

Address 50 North Third Street, P.O. Box 3500, Newark, OH, USA, 43058-3500
Park National Corp is a diversified financial services company based in Newark, Ohio, consisting of 11 community banking divisions with more than 100 offices in Ohio and Kentucky. The company provides the following principal services: the acceptance of deposits for demand, savings and time accounts; commercial, industrial, consumer and real estate lending, including installment loans, credit cards (which are largely offered through a third party), home equity lines of credit and commercial leasing; trust and wealth management services; cash management; safe deposit operations; electronic funds transfers; and a variety of additional banking-related services.
70GF Score

Get the complete analysis for PRK

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

$180.83
Price
$173.98
GF Value