SIEB (Siebert Financial) Beneish M-Score: -2.08 (As of Jun. 24, 2026)

What is Siebert Financial Beneish M-Score?

Siebert Financial SIEB +4.28% 59 Beneish M-Score is -2.08 as of Jun. 24, 2026. GuruFocus rates SIEB with a GF Score™ of 59/100 and a GF Value™ of $2.67 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 702 Capital Markets companies, Siebert Financial ranks worse than 53.13% on this metric.

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 -2.08 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SIEB' s Beneish M-Score Range Over the Past 10 Years
Min: -7.09 Med: -2.14 Max: 13.1
Current: -2.08

During the past 13 years, the highest Beneish M-Score of Siebert Financial was 13.10. The lowest was -7.09. And the median was -2.14.

Siebert Financial Beneish M-Score Related Terms

Siebert Financial Beneish M-Score Historical Data

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The historical data trend for Siebert Financial's Beneish M-Score can be seen below:

* 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.

Siebert Financial Beneish M-Score Chart

Siebert Financial Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.23

-2.66

-2.17

-1.92

-2.52

Siebert Financial Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.23	-2.12	-2.57	-2.52	-2.08

SIEB vs BTCS, NCTY, AUC: Beneish M-Score Comparison

For the Capital Markets subindustry, Siebert Financial's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Siebert Financial Beneish M-Score vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Siebert Financial's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Siebert Financial's Beneish M-Score falls into.

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59GF Score

Siebert Financial Corp SIEB

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Siebert Financial 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 Siebert Financial for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.1946

0.528 * 2.0381

0.404 * 1.0861

0.892 * 0.9452

0.115 * 0.6124

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.4346

4.679 * -0.039068

0.327 * 1.0292

-2.08

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was $99.42 Mil.
Revenue was 23.47 + 21.861 + 25.439 + 13.922 = $84.69 Mil.
Gross Profit was 6.701 + 4.452 + 8.436 + 0.086 = $19.68 Mil.
Total Current Assets was $564.48 Mil.
Total Assets was $597.14 Mil.
Property, Plant and Equipment(Net PPE) was $12.19 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.67 Mil.
Selling, General, & Admin. Expense(SGA) was $23.17 Mil.
Total Current Liabilities was $500.41 Mil.
Long-Term Debt & Capital Lease Obligation was $5.25 Mil.
Net Income was -1.972 + -0.446 + 1.622 + -4.719 = $-5.52 Mil.
Non Operating Income was -0.784 + 0 + 0 + 0 = $-0.78 Mil.
Cash Flow from Operations was -26.105 + 0.402 + 43.67 + 0.631 = $18.60 Mil.

Total Receivables was $88.05 Mil.
Revenue was 28.919 + 19.159 + 21.827 + 19.696 = $89.60 Mil.
Gross Profit was 16.543 + 7.133 + 9.596 + 9.151 = $42.42 Mil.
Total Current Assets was $504.89 Mil.
Total Assets was $534.19 Mil.
Property, Plant and Equipment(Net PPE) was $12.44 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.54 Mil.
Selling, General, & Admin. Expense(SGA) was $17.09 Mil.
Total Current Liabilities was $433.98 Mil.
Long-Term Debt & Capital Lease Obligation was $5.53 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)
	=	(99.422 / 84.692)	/	(88.053 / 89.601)
	=	1.173924	/	0.982723
	=	1.1946

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)
	=	(42.423 / 89.601)	/	(19.675 / 84.692)
	=	0.473466	/	0.232312
	=	2.0381

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 - (564.484 + 12.191) / 597.142)	/	(1 - (504.889 + 12.44) / 534.187)
	=	0.034275	/	0.031558
	=	1.0861

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
	=	84.692	/	89.601
	=	0.9452

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))
	=	(1.54 / (1.54 + 12.44))	/	(2.674 / (2.674 + 12.191))
	=	0.110157	/	0.179886
	=	0.6124

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)
	=	(23.168 / 84.692)	/	(17.086 / 89.601)
	=	0.273556	/	0.19069
	=	1.4346

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)
	=	((5.25 + 500.412) / 597.142)	/	((5.532 + 433.978) / 534.187)
	=	0.846804	/	0.822764
	=	1.0292

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
	=	(-5.515 - -0.784	-	18.598)	/	597.142
	=	-0.039068

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.

Siebert Financial has a M-score of -2.08 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 -2.08 mean?

Siebert Financial (SIEB) has a Beneish M-Score of -2.08 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Siebert Financial and its competitors. According to the industry distribution chart, Siebert Financial ranks #373 out of 702 companies in the Capital Markets industry, placing it in the top 53.1%.

Is Siebert Financial's Beneish M-Score too high?

Siebert Financial's current Beneish M-Score is -2.08. Based on the distribution chart, Siebert Financial ranks #373 out of 702 companies in the Capital Markets industry, which is below the industry midpoint. Overall, Siebert Financial has a GF Score™ of 59/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Siebert Financial's Beneish M-Score compare to BTCS and NCTY?

According to the Capital Markets industry distribution chart, Siebert Financial ranks #373 out of 702 companies for Beneish M-Score. This places Siebert Financial 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 Capital Markets company?

A good Beneish M-Score depends on the Capital Markets 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 Siebert Financial and its competitors. Siebert Financial's current Beneish M-Score is -2.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Siebert Financial stock overvalued right now?

Based on GuruFocus' analysis, Siebert Financial (SIEB) is currently considered Modestly Undervalued. The stock's GF Value™ is $2.67, compared to a current price of $1.95 — trading 27% below its estimated fair value. The current Beneish M-Score is -2.08. Siebert Financial's overall GF Score™ is 59/100 with 2 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 Siebert Financial (SIEB), the current Beneish M-Score is -2.08 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 Siebert Financial (SIEB) Overvalued in 2026?

Based on GuruFocus' analysis, Siebert Financial stock appears to be undervalued. The current stock price of $1.95 is trading 27% below its estimated GF Value™ of $2.67. GuruFocus considers Siebert Financial to be Modestly Undervalued.

Key valuation signals for SIEB:

Beneish M-Score: -2.08
GF Value™: $2.67 vs. price of $1.95 (27% below fair value)
GF Score™: 59/100 with 2 warning signs

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

Siebert Financial Business Description

Industry Financial Services Capital Markets

Comparable Companies BTCS NCTY AUC DOMH AURE SRL BMHL FLD PLUT CURN MS GS SCHW HOOD ASX:MQG SHSE:600030 BSP:BPAC3 SZSE:300059 IBKR SHSE:601211

Other Exchanges STF:Germany

Address 653 Collins Avenue, Miami Beach, FL, USA, 33139

Website https://www.siebert.com

Siebert Financial Corp is a diversified financial services firm engaged in providing brokerage and financial advisory services. The coperates through two segments: Financial Services and Media, Sports and Entertainment. The Financial Services segment mainly operates as a securities broker-dealer and provides brokerage, custody, and clearing services for retail accounts, as well as insurance and advisory services, principal and proprietary trading, market making, securities lending, and investment banking and capital markets services. The Media, Sports and Entertainment segment is engaged in the production and distribution of music and media content, as well as talent management and sports representation. It generates the majority of its revenue from the Financial Services segment.

59GF Score

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

$1.95

Price

$2.67

GF Value

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