BaoViet Holdings (STC:BVH) Beneish M-Score: 0.00 (As of Jul. 06, 2026)


STC:BVH BaoViet Holdings STC:BVH
71 GF Score
Price ₫60,000.00
GF Value ₫44,024.91
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is BaoViet Holdings Beneish M-Score?

BaoViet Holdings STC:BVH 71 Beneish M-Score is 0.00 as of Jul. 06, 2026. GuruFocus rates STC:BVH with a GF Score™ of 71/100 and a GF Value™ of ₫44,024.91 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 400 Insurance companies, BaoViet Holdings ranks worse than 249999.75% 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 BaoViet Holdings's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of BaoViet Holdings was -1.92. The lowest was -36.81. And the median was -2.63.

STC:BVH
71GF Score
BaoViet Holdings STC:BVH
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BaoViet Holdings 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 BaoViet Holdings 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 ₫7,544,732 Mil.
Revenue was 13670125.785 + 14241130.283 + 13375368.543 + 14978096.297 = ₫56,264,721 Mil.
Gross Profit was 13670125.785 + 14241130.283 + 13375368.543 + 14978096.297 = ₫56,264,721 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫307,487,712 Mil.
Property, Plant and Equipment(Net PPE) was ₫1,001,045 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫232,882 Mil.
Selling, General, & Admin. Expense(SGA) was ₫4,378,277 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫754 Mil.
Net Income was 799179.264 + 858520.298 + 770775.309 + 677222.644 = ₫3,105,698 Mil.
Non Operating Income was 56223.905 + 24812.732 + 42135.496 + 50050.336 = ₫173,222 Mil.
Cash Flow from Operations was -2697964.037 + -8092609.288 + 4001958.24 + 8890399.403 = ₫2,101,784 Mil.
 Total Receivables was ₫8,233,629 Mil.
Revenue was 13103949.522 + 13553393.379 + 12839117.836 + 13991100.271 = ₫53,487,561 Mil.
Gross Profit was 13103949.522 + 13553393.379 + 12839117.836 + 13991100.271 = ₫53,487,561 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫255,817,480 Mil.
Property, Plant and Equipment(Net PPE) was ₫1,050,082 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫367,198 Mil.
Selling, General, & Admin. Expense(SGA) was ₫4,012,954 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)
=(7544731.566 / 56264720.908) / (8233628.619 / 53487561.008)
=0.134093 / 0.153935
=

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)
=(53487561.008 / 53487561.008) / (56264720.908 / 56264720.908)
=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 + 1001045.024) / 307487711.605) / (1 - (0 + 1050081.781) / 255817480.254)
=0.996744 / 0.995895
=

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
=56264720.908 / 53487561.008
=

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))
=(367198.198 / (367198.198 + 1050081.781)) / (232882.061 / (232882.061 + 1001045.024))
=0.259087 / 0.188732
=

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)
=(4378276.504 / 56264720.908) / (4012954.236 / 53487561.008)
=0.077816 / 0.075026
=

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)
=((754 + 0) / 307487711.605) / ((0 + 0) / 255817480.254)
=2.0E-6 / 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
=(3105697.515 - 173222.469 - 2101784.318) / 307487711.605
=0.002702

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?
BaoViet Holdings (STC:BVH) has a Beneish M-Score of 0.00 as of Jul. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on BaoViet Holdings and its competitors. According to the industry distribution chart, BaoViet Holdings ranks #999999 out of 400 companies in the Insurance industry.
Is BaoViet Holdings' Beneish M-Score too high?
BaoViet Holdings' current Beneish M-Score is 0.00. Based on the distribution chart, BaoViet Holdings ranks #999999 out of 400 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, BaoViet Holdings has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BaoViet Holdings' Beneish M-Score compare to BRK.A and AIG?
According to the Insurance industry distribution chart, BaoViet Holdings ranks #999999 out of 400 companies for Beneish M-Score. This places BaoViet Holdings 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 BaoViet Holdings and its competitors. BaoViet Holdings'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 BaoViet Holdings stock overvalued right now?
Based on GuruFocus' analysis, BaoViet Holdings (STC:BVH) is currently considered Significantly Overvalued. The stock's GF Value™ is ₫44,024.91, compared to a current price of ₫60,000.00 — trading 36.3% above its estimated fair value. The current Beneish M-Score is 0.00. BaoViet Holdings' overall GF Score™ is 71/100 with 3 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 BaoViet Holdings (STC:BVH), the current Beneish M-Score is 0.00 as of Jul. 06, 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 BaoViet Holdings (STC:BVH) Overvalued in 2026?

Based on GuruFocus' analysis, BaoViet Holdings stock appears to be overvalued. The current stock price of ₫60,000.00 is trading 36.3% above its estimated GF Value™ of ₫44,024.91. GuruFocus considers BaoViet Holdings to be Significantly Overvalued.

Key valuation signals for STC:BVH:

  • Beneish M-Score: 0.00
  • GF Value™: ₫44,024.91 vs. price of ₫60,000.00 (36.3% above fair value)
  • GF Score™: 71/100 with 3 warning signs

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

BaoViet Holdings Business Description

Address 72 Tran Hung Dao Street, Tran Hung Dao Ward, Hoan Kiem District, Ha Noi, VNM
BaoViet Holdings is a Vietnam-based company that provides financial and securities investment services. The firm's services are classified on the basis of five major segments which include Life insurance, Non-life insurance, financial services, Banking services and Real estate operation and other activities. Further, the company has established relations with world-class insurers and reinsurers, including Munich Re, Swiss Re, CCR, Hannover Re, AON, Arthur Gallagher, and Marsh. It is engaged in offering securities brokerage services, underwriting services, custody services, investment advice to investors and trading of securities. The majority of the revenue for the company is generated through interest, dividends and appropriated profits.
71GF Score

Get the complete analysis for STC:BVH

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

₫60,000.00
Price
₫44,024.91
GF Value