Vietnam Export Import Commercial Joint Stock Bank (STC:EIB) Beneish M-Score: -3.15 (As of Jun. 26, 2026)


STC:EIB Vietnam Export Import Commercial Joint Stock Bank STC:EIB
61 GF Score
Price ₫20,550.00
GF Value ₫18,577.94
Valuation Modestly Overvalued
! 3 Warning Signs
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What is Vietnam Export Import Commercial Joint Stock Bank Beneish M-Score?

Vietnam Export Import Commercial Joint Stock Bank STC:EIB -0.96% 61 Beneish M-Score is -3.15 as of Jun. 26, 2026. GuruFocus rates STC:EIB with a GF Score™ of 61/100 and a GF Value™ of ₫18,577.94 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 1,397 Banks companies, Vietnam Export Import Commercial Joint Stock Bank ranks better than 94.85% 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 -3.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Vietnam Export Import Commercial Joint Stock Bank's Beneish M-Score or its related term are showing as below:

STC:EIB' s Beneish M-Score Range Over the Past 10 Years
Min: -5.04   Med: -2.46   Max: -1.59
Current: -3.15

During the past 13 years, the highest Beneish M-Score of Vietnam Export Import Commercial Joint Stock Bank was -1.59. The lowest was -5.04. And the median was -2.46.

STC:EIB
61GF Score
Vietnam Export Import Commercial Joint Stock Bank STC:EIB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Vietnam Export Import Commercial Joint Stock Bank 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 Vietnam Export Import Commercial Joint Stock Bank 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 * 1.0003+0.892 * 0.8044+0.115 * 0.897
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.7586+4.679 * -0.030677-0.327 * 1.6344
=-3.15

* 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 Mil.
Revenue was 1538431 + 1909725 + 1728042 + 2014632 = ₫7,190,830 Mil.
Gross Profit was 1538431 + 1909725 + 1728042 + 2014632 = ₫7,190,830 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫269,958,406 Mil.
Property, Plant and Equipment(Net PPE) was ₫1,102,056 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫296,778 Mil.
Selling, General, & Admin. Expense(SGA) was ₫175,098 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫31,396,150 Mil.
Net Income was 269160 + -472482 + 444688 + 506244 = ₫747,610 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was -8534143 + 7695604 + 6242995 + 3624585 = ₫9,029,041 Mil.
 Total Receivables was ₫0 Mil.
Revenue was 1837250 + 3104412 + 2005322 + 1992109 = ₫8,939,093 Mil.
Gross Profit was 1837250 + 3104412 + 2005322 + 1992109 = ₫8,939,093 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫251,132,546 Mil.
Property, Plant and Equipment(Net PPE) was ₫1,095,614 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫257,500 Mil.
Selling, General, & Admin. Expense(SGA) was ₫123,770 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫17,869,714 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 / 7190830) / (0 / 8939093)
=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)
=(8939093 / 8939093) / (7190830 / 7190830)
=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 + 1102056) / 269958406) / (1 - (0 + 1095614) / 251132546)
=0.995918 / 0.995637
=1.0003

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
=7190830 / 8939093
=0.8044

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))
=(257500 / (257500 + 1095614)) / (296778 / (296778 + 1102056))
=0.190302 / 0.212161
=0.897

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)
=(175098 / 7190830) / (123770 / 8939093)
=0.02435 / 0.013846
=1.7586

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)
=((31396150 + 0) / 269958406) / ((17869714 + 0) / 251132546)
=0.1163 / 0.071157
=1.6344

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
=(747610 - 0 - 9029041) / 269958406
=-0.030677

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.

Vietnam Export Import Commercial Joint Stock Bank has a M-score of -3.15 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 -3.15 mean?
Vietnam Export Import Commercial Joint Stock Bank (STC:EIB) has a Beneish M-Score of -3.15 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vietnam Export Import Commercial Joint Stock Bank and its competitors. According to the industry distribution chart, Vietnam Export Import Commercial Joint Stock Bank ranks #72 out of 1397 companies in the Banks industry, placing it in the top 5.2%.
Is Vietnam Export Import Commercial Joint Stock Bank's Beneish M-Score too high?
Vietnam Export Import Commercial Joint Stock Bank's current Beneish M-Score is -3.15. Based on the distribution chart, Vietnam Export Import Commercial Joint Stock Bank ranks #72 out of 1397 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Vietnam Export Import Commercial Joint Stock Bank has a GF Score™ of 61/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Vietnam Export Import Commercial Joint Stock Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Vietnam Export Import Commercial Joint Stock Bank ranks #72 out of 1397 companies for Beneish M-Score. This places Vietnam Export Import Commercial Joint Stock Bank in the top 5% of its industry — outperforming the majority of peers. 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 Vietnam Export Import Commercial Joint Stock Bank and its competitors. Vietnam Export Import Commercial Joint Stock Bank's current Beneish M-Score is -3.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vietnam Export Import Commercial Joint Stock Bank stock overvalued right now?
Based on GuruFocus' analysis, Vietnam Export Import Commercial Joint Stock Bank (STC:EIB) is currently considered Modestly Overvalued. The stock's GF Value™ is ₫18,577.94, compared to a current price of ₫20,550.00 — trading 10.6% above its estimated fair value. The current Beneish M-Score is -3.15. Vietnam Export Import Commercial Joint Stock Bank's overall GF Score™ is 61/100 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 Vietnam Export Import Commercial Joint Stock Bank (STC:EIB), the current Beneish M-Score is -3.15 as of Jun. 26, 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 Vietnam Export Import Commercial Joint Stock Bank (STC:EIB) Overvalued in 2026?

Based on GuruFocus' analysis, Vietnam Export Import Commercial Joint Stock Bank stock appears to be overvalued. The current stock price of ₫20,550.00 is trading 10.6% above its estimated GF Value™ of ₫18,577.94. GuruFocus considers Vietnam Export Import Commercial Joint Stock Bank to be Modestly Overvalued.

Key valuation signals for STC:EIB:

  • Beneish M-Score: -3.15
  • GF Value™: ₫18,577.94 vs. price of ₫20,550.00 (10.6% above fair value)
  • GF Score™: 61/100 with 3 warning signs

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

Vietnam Export Import Commercial Joint Stock Bank Business Description

Address 72 Le Thanh Ton, Ben Nghe Ward, Level 8, Suite No. L8-01-11 + 16, Vincom Center, District 1, Ho Chi Minh, VNM
Vietnam Export Import Commercial Joint Stock Bank is in the business of providing banking services and products to individual customers and organizations. Its products and services are savings and demand deposits, short, medium and long-term loans, foreign currency trading, settlement services, documentary discounting, issuing and settling credit cards, cash services, payroll, collection, overseas remittance payment, guarantee issuance, mobile banking, internet banking and advisory services. The bank operates in Vietnam.
61GF Score

Get the complete analysis for STC:EIB

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

₫20,550.00
Price
₫18,577.94
GF Value