BIDV Insurance (STC:BIC) Beneish M-Score: 0.00 (As of Jun. 30, 2026)


STC:BIC BIDV Insurance Corp STC:BIC
83 GF Score
Price ₫23,600.00
GF Value ₫23,563.38
Valuation Fairly Valued
! 4 Warning Signs
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What is BIDV Insurance Beneish M-Score?

BIDV Insurance STC:BIC +1.72% 83 Beneish M-Score is 0.00 as of Jun. 30, 2026. GuruFocus rates STC:BIC with a GF Score™ of 83/100 and a GF Value™ of ₫23,563.38 (Fairly Valued). The stock has 4 warning signs investors should review. Among 402 Insurance companies, BIDV Insurance ranks worse than 248755.97% 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.

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

During the past 13 years, the highest Beneish M-Score of BIDV Insurance was -1.96. The lowest was -2.17. And the median was -2.07.

STC:BIC
83GF Score
BIDV Insurance Corp STC:BIC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BIDV Insurance 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 BIDV Insurance 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 ₫555,175 Mil.
Revenue was 1137298.091 + 1096571.315 + 1035612.243 + 1120979.678 = ₫4,390,461 Mil.
Gross Profit was 1137298.091 + 1096571.315 + 1035612.243 + 1120979.678 = ₫4,390,461 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫10,087,653 Mil.
Property, Plant and Equipment(Net PPE) was ₫50,201 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫11,725 Mil.
Selling, General, & Admin. Expense(SGA) was ₫662,977 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫0 Mil.
Net Income was 87245.176 + 122927.778 + 91033.604 + 172341.775 = ₫473,548 Mil.
Non Operating Income was 30331.685 + 19114.592 + 7886.401 + 3827.138 = ₫61,160 Mil.
Cash Flow from Operations was 183049.51 + -101621.791 + 204844.589 + 176798.431 = ₫463,071 Mil.
 Total Receivables was ₫568,237 Mil.
Revenue was 1116725.001 + 1172048.276 + 983764.3 + 1124794.72 = ₫4,397,332 Mil.
Gross Profit was 1116725.001 + 1172048.276 + 983764.3 + 1124794.72 = ₫4,397,332 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫8,859,610 Mil.
Property, Plant and Equipment(Net PPE) was ₫41,091 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫10,131 Mil.
Selling, General, & Admin. Expense(SGA) was ₫711,754 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫0 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)
=(555174.823 / 4390461.327) / (568236.719 / 4397332.297)
=0.12645 / 0.129223
=

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)
=(4397332.297 / 4397332.297) / (4390461.327 / 4390461.327)
=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 + 50201.235) / 10087653.212) / (1 - (0 + 41090.723) / 8859610.383)
=0.995023 / 0.995362
=

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
=4390461.327 / 4397332.297
=

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))
=(10131.419 / (10131.419 + 41090.723)) / (11724.996 / (11724.996 + 50201.235))
=0.197794 / 0.189338
=

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)
=(662976.836 / 4390461.327) / (711754.302 / 4397332.297)
=0.151004 / 0.16186
=

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)
=((0 + 0) / 10087653.212) / ((0 + 0) / 8859610.383)
=0 / 0
=

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
=(473548.333 - 61159.816 - 463070.739) / 10087653.212
=-0.005024

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
BIDV Insurance (STC:BIC) has a Beneish M-Score of 0.00 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BIDV Insurance and its competitors. According to the industry distribution chart, BIDV Insurance ranks #999999 out of 402 companies in the Insurance industry.
Is BIDV Insurance's Beneish M-Score too high?
BIDV Insurance's current Beneish M-Score is 0.00. Based on the distribution chart, BIDV Insurance ranks #999999 out of 402 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, BIDV Insurance has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does BIDV Insurance's Beneish M-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, BIDV Insurance ranks #999999 out of 402 companies for Beneish M-Score. This places BIDV Insurance 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 an Insurance company?
A good Beneish M-Score depends on the Insurance 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 BIDV Insurance and its competitors. BIDV Insurance's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BIDV Insurance stock overvalued right now?
Based on GuruFocus' analysis, BIDV Insurance (STC:BIC) is currently considered Fairly Valued. The stock's GF Value™ is ₫23,563.38, compared to a current price of ₫23,600.00 — trading 0.2% above its estimated fair value. The current Beneish M-Score is 0.00. BIDV Insurance's overall GF Score™ is 83/100 with 4 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 BIDV Insurance (STC:BIC), the current Beneish M-Score is 0.00 as of Jun. 30, 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 BIDV Insurance (STC:BIC) Overvalued in 2026?

Based on GuruFocus' analysis, BIDV Insurance stock appears to be overvalued. The current stock price of ₫23,600.00 is trading 0.2% above its estimated GF Value™ of ₫23,563.38. GuruFocus considers BIDV Insurance to be Fairly Valued.

Key valuation signals for STC:BIC:

  • Beneish M-Score: 0.00
  • GF Value™: ₫23,563.38 vs. price of ₫23,600.00 (0.2% above fair value)
  • GF Score™: 83/100 with 4 warning signs

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

BIDV Insurance Business Description

Address Cau Giay Street, 11th Floor, Building No. 263, Cau Giay Ward, Hanoi, VNM
BIDV Insurance Corp is an insurance company. The company operates a network of agencies throughout Vietnam offering non-life, reinsurance, casualty insurance, and financial investments.
83GF Score

Get the complete analysis for STC:BIC

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

₫23,600.00
Price
₫23,563.38
GF Value