SFNC (Simmons First National) Beneish M-Score: -0.17 (As of Jun. 25, 2026)


SFNC Simmons First National Corp SFNC
51 GF Score
Price $22.70
GF Value $8.68
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Simmons First National Beneish M-Score?

Simmons First National SFNC 51 Beneish M-Score is -0.17 as of Jun. 25, 2026. GuruFocus rates SFNC with a GF Score™ of 51/100 and a GF Value™ of $8.68 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,396 Banks companies, Simmons First National ranks worse than 98.21% 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.

Warning Sign:

Beneish M-Score -0.17 higher than -1.78, which implies that the company might have manipulated its financial results.

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

SFNC' s Beneish M-Score Range Over the Past 10 Years
Min: -2.67   Med: -2.32   Max: 4.55
Current: -0.17

During the past 13 years, the highest Beneish M-Score of Simmons First National was 4.55. The lowest was -2.67. And the median was -2.32.

SFNC
51GF Score
Simmons First National Corp SFNC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Simmons First 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 Simmons First 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 * 5.3545+0.528 * 1+0.404 * 0.9988+0.892 * 0.1616+0.115 * 1.0938
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 6.3357+4.679 * -0.033144-0.327 * 0.6612
=-0.17

* 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 $101.6 Mil.
Revenue was 238.258 + 249.117 + -572.743 + 210.987 = $125.6 Mil.
Gross Profit was 238.258 + 249.117 + -572.743 + 210.987 = $125.6 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $24,692.8 Mil.
Property, Plant and Equipment(Net PPE) was $557.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $40.0 Mil.
Selling, General, & Admin. Expense(SGA) was $344.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $762.5 Mil.
Net Income was 68.544 + 78.078 + -562.792 + 54.773 = $-361.4 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 40.308 + 115.664 + 223.4 + 77.643 = $457.0 Mil.
 Total Receivables was $117.4 Mil.
Revenue was 206.548 + 205.358 + 171.641 + 193.989 = $777.5 Mil.
Gross Profit was 206.548 + 205.358 + 171.641 + 193.989 = $777.5 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $26,793.0 Mil.
Property, Plant and Equipment(Net PPE) was $573.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $45.3 Mil.
Selling, General, & Admin. Expense(SGA) was $336.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $1,251.2 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)
=(101.557 / 125.619) / (117.398 / 777.536)
=0.808453 / 0.150987
=5.3545

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)
=(777.536 / 777.536) / (125.619 / 125.619)
=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 + 557.873) / 24692.783) / (1 - (0 + 573.616) / 26792.991)
=0.977407 / 0.978591
=0.9988

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
=125.619 / 777.536
=0.1616

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))
=(45.344 / (45.344 + 573.616)) / (40.047 / (40.047 + 557.873))
=0.073258 / 0.066977
=1.0938

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)
=(343.966 / 125.619) / (336.036 / 777.536)
=2.738169 / 0.432181
=6.3357

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)
=((762.456 + 0) / 24692.783) / ((1251.194 + 0) / 26792.991)
=0.030878 / 0.046699
=0.6612

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
=(-361.397 - 0 - 457.015) / 24692.783
=-0.033144

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.

Simmons First National has a M-score of -0.17 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 -0.17 mean?
Simmons First National (SFNC) has a Beneish M-Score of -0.17 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Simmons First National and its competitors. According to the industry distribution chart, Simmons First National ranks #1371 out of 1396 companies in the Banks industry, placing it in the top 98.2%.
Is Simmons First National's Beneish M-Score too high?
Simmons First National's current Beneish M-Score is -0.17. Based on the distribution chart, Simmons First National ranks #1371 out of 1396 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Simmons First National has a GF Score™ of 51/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Simmons First National's Beneish M-Score compare to TOWN and PRK?
According to the Banks industry distribution chart, Simmons First National ranks #1371 out of 1396 companies for Beneish M-Score. This places Simmons First 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 Simmons First National and its competitors. Simmons First National's current Beneish M-Score is -0.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Simmons First National stock overvalued right now?
Based on GuruFocus' analysis, Simmons First National (SFNC) is currently considered Significantly Overvalued. The stock's GF Value™ is $8.68, compared to a current price of $22.70 — trading 161.5% above its estimated fair value. The current Beneish M-Score is -0.17. Simmons First National's overall GF Score™ is 51/100 with 6 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 Simmons First National (SFNC), the current Beneish M-Score is -0.17 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 Simmons First National (SFNC) Overvalued in 2026?

Based on GuruFocus' analysis, Simmons First National stock appears to be overvalued. The current stock price of $22.70 is trading 161.5% above its estimated GF Value™ of $8.68. GuruFocus considers Simmons First National to be Significantly Overvalued.

Key valuation signals for SFNC:

  • Beneish M-Score: -0.17
  • GF Value™: $8.68 vs. price of $22.70 (161.5% above fair value)
  • GF Score™: 51/100 with 6 warning signs

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

Simmons First National Business Description

Address 501 Main Street, Pine Bluff, AR, USA, 71601
Simmons First National Corp is a financial holding company. The company through its subsidiaries is engaged in providing banking services including consumer, real estate and commercial loans, checking, savings and time deposits. Its loan portfolio comprises construction, single-family residential and commercial loans; non-real estate loans, nonaccrual and past due loans; and credit card loans, student loans and other consumer loans. It also offers various products and services such as trust services, investments, agricultural finance lending, equipment lending, insurance, consumer finance and small business administration lending. The business activity of the firm is functioned through the region of the United States.
51GF Score

Get the complete analysis for SFNC

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

$22.70
Price
$8.68
GF Value