SBCF (Seacoast Banking of Florida) Beneish M-Score: -2.32 (As of Jun. 25, 2026)


SBCF Seacoast Banking Corp of Florida SBCF
63 GF Score
Price $32.46
GF Value $32.06
Valuation Fairly Valued
! 7 Warning Signs
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What is Seacoast Banking of Florida Beneish M-Score?

Seacoast Banking of Florida SBCF +0.62% 63 Beneish M-Score is -2.32 as of Jun. 25, 2026. GuruFocus rates SBCF with a GF Score™ of 63/100 and a GF Value™ of $32.06 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,396 Banks companies, Seacoast Banking of Florida ranks worse than 64.76% 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 -2.32 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Seacoast Banking of Florida's Beneish M-Score or its related term are showing as below:

SBCF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.56   Med: -2.55   Max: 0.38
Current: -2.32

During the past 13 years, the highest Beneish M-Score of Seacoast Banking of Florida was 0.38. The lowest was -3.56. And the median was -2.55.

SBCF
63GF Score
Seacoast Banking Corp of Florida SBCF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Seacoast Banking of Florida 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 Seacoast Banking of Florida 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 * 0.9994+0.892 * 1.2738+0.115 * 0.7844
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9369+4.679 * -0.00395-0.327 * 1.1546
=-2.32

* 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 $0.0 Mil.
Revenue was 163.856 + 203.258 + 157.286 + 151.385 = $675.8 Mil.
Gross Profit was 163.856 + 203.258 + 157.286 + 151.385 = $675.8 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $21,145.1 Mil.
Property, Plant and Equipment(Net PPE) was $159.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $42.1 Mil.
Selling, General, & Admin. Expense(SGA) was $254.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $887.8 Mil.
Net Income was 31.895 + 34.26 + 36.467 + 42.687 = $145.3 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 71.785 + 54.513 + 30.215 + 72.327 = $228.8 Mil.
 Total Receivables was $0.0 Mil.
Revenue was 140.697 + 132.872 + 130.344 + 126.608 = $530.5 Mil.
Gross Profit was 140.697 + 132.872 + 130.344 + 126.608 = $530.5 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $15,732.5 Mil.
Property, Plant and Equipment(Net PPE) was $108.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $21.2 Mil.
Selling, General, & Admin. Expense(SGA) was $212.8 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $572.1 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 / 675.785) / (0 / 530.521)
=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)
=(530.521 / 530.521) / (675.785 / 675.785)
=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 + 159.368) / 21145.147) / (1 - (0 + 108.478) / 15732.485)
=0.992463 / 0.993105
=0.9994

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
=675.785 / 530.521
=1.2738

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))
=(21.245 / (21.245 + 108.478)) / (42.051 / (42.051 + 159.368))
=0.163772 / 0.208774
=0.7844

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)
=(253.994 / 675.785) / (212.835 / 530.521)
=0.37585 / 0.401181
=0.9369

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)
=((887.836 + 0) / 21145.147) / ((572.132 + 0) / 15732.485)
=0.041988 / 0.036366
=1.1546

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
=(145.309 - 0 - 228.84) / 21145.147
=-0.00395

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.

Seacoast Banking of Florida has a M-score of -2.32 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 -2.32 mean?
Seacoast Banking of Florida (SBCF) has a Beneish M-Score of -2.32 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Seacoast Banking of Florida and its competitors. According to the industry distribution chart, Seacoast Banking of Florida ranks #904 out of 1396 companies in the Banks industry, placing it in the top 64.8%.
Is Seacoast Banking of Florida's Beneish M-Score too high?
Seacoast Banking of Florida's current Beneish M-Score is -2.32. Based on the distribution chart, Seacoast Banking of Florida ranks #904 out of 1396 companies in the Banks industry, which is below the industry midpoint. Overall, Seacoast Banking of Florida has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Seacoast Banking of Florida's Beneish M-Score compare to BANC and NIC?
According to the Banks industry distribution chart, Seacoast Banking of Florida ranks #904 out of 1396 companies for Beneish M-Score. This places Seacoast Banking of Florida 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 Seacoast Banking of Florida and its competitors. Seacoast Banking of Florida's current Beneish M-Score is -2.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Seacoast Banking of Florida stock overvalued right now?
Based on GuruFocus' analysis, Seacoast Banking of Florida (SBCF) is currently considered Fairly Valued. The stock's GF Value™ is $32.06, compared to a current price of $32.46 — trading 1.2% above its estimated fair value. The current Beneish M-Score is -2.32. Seacoast Banking of Florida's overall GF Score™ is 63/100 with 7 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 Seacoast Banking of Florida (SBCF), the current Beneish M-Score is -2.32 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 Seacoast Banking of Florida (SBCF) Overvalued in 2026?

Based on GuruFocus' analysis, Seacoast Banking of Florida stock appears to be overvalued. The current stock price of $32.46 is trading 1.2% above its estimated GF Value™ of $32.06. GuruFocus considers Seacoast Banking of Florida to be Fairly Valued.

Key valuation signals for SBCF:

  • Beneish M-Score: -2.32
  • GF Value™: $32.06 vs. price of $32.46 (1.2% above fair value)
  • GF Score™: 63/100 with 7 warning signs

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

Seacoast Banking of Florida Business Description

Address 815 Colorado Avenue, Stuart, FL, USA, 34994
Seacoast Banking Corp of Florida is a holding company. The company provides integrated financial services, including commercial and consumer banking, wealth management, and mortgage and insurance services, to customers across Florida through branch, mobile, and online banking solutions. It maintains day-to-day operations, particularly in the areas of operations, treasury management systems, information technology, and security. The company has one reportable segment that provides these integrated financial services, with segment revenues driven mainly by interest and fees on loans, interest on cash and cash equivalents, and investment securities, and fees on depository products and services.
63GF Score

Get the complete analysis for SBCF

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

$32.46
Price
$32.06
GF Value