Military Commercial Joint Stock Bank (STC:MBB) Beneish M-Score: -2.51 (As of Jun. 27, 2026)


STC:MBB Military Commercial Joint Stock Bank STC:MBB
82 GF Score
Price ₫24,750.00
GF Value ₫24,698.04
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Military Commercial Joint Stock Bank Beneish M-Score?

Military Commercial Joint Stock Bank STC:MBB +0.20% 82 Beneish M-Score is -2.51 as of Jun. 27, 2026. GuruFocus rates STC:MBB with a GF Score™ of 82/100 and a GF Value™ of ₫24,698.04 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,397 Banks companies, Military Commercial Joint Stock Bank ranks better than 71.37% 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 -2.51 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

STC:MBB' s Beneish M-Score Range Over the Past 10 Years
Min: -2.78   Med: -2.35   Max: -1.79
Current: -2.51

During the past 13 years, the highest Beneish M-Score of Military Commercial Joint Stock Bank was -1.79. The lowest was -2.78. And the median was -2.35.

STC:MBB
82GF Score
Military Commercial Joint Stock Bank STC:MBB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Military 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 Military 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 * 1.0008+0.892 * 1.1971+0.115 * 1.3035
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9752+4.679 * -0.043901-0.327 * 1.1177
=-2.51

* 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 16694508 + 19527946 + 15596694 + 17245678 = ₫69,064,826 Mil.
Gross Profit was 16694508 + 19527946 + 15596694 + 17245678 = ₫69,064,826 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫1,611,222,764 Mil.
Property, Plant and Equipment(Net PPE) was ₫5,012,087 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫1,176,330 Mil.
Selling, General, & Admin. Expense(SGA) was ₫4,790,042 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫284,786,502 Mil.
Net Income was 7515513 + 8762570 + 5571024 + 5877605 = ₫27,726,712 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was -64971848 + 125435814 + 10405047 + 27591549 = ₫98,460,562 Mil.
 Total Receivables was ₫0 Mil.
Revenue was 14294579 + 16563511 + 12703765 + 14129248 = ₫57,691,103 Mil.
Gross Profit was 14294579 + 16563511 + 12703765 + 14129248 = ₫57,691,103 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫1,156,917,195 Mil.
Property, Plant and Equipment(Net PPE) was ₫4,521,983 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫1,489,470 Mil.
Selling, General, & Admin. Expense(SGA) was ₫4,102,796 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫182,960,329 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 / 69064826) / (0 / 57691103)
=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)
=(57691103 / 57691103) / (69064826 / 69064826)
=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 + 5012087) / 1611222764) / (1 - (0 + 4521983) / 1156917195)
=0.996889 / 0.996091
=1.0008

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
=69064826 / 57691103
=1.1971

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))
=(1489470 / (1489470 + 4521983)) / (1176330 / (1176330 + 5012087))
=0.247772 / 0.190086
=1.3035

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)
=(4790042 / 69064826) / (4102796 / 57691103)
=0.069356 / 0.071117
=0.9752

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)
=((284786502 + 0) / 1611222764) / ((182960329 + 0) / 1156917195)
=0.176752 / 0.158145
=1.1177

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
=(27726712 - 0 - 98460562) / 1611222764
=-0.043901

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.

Military Commercial Joint Stock Bank has a M-score of -2.51 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 -2.51 mean?
Military Commercial Joint Stock Bank (STC:MBB) has a Beneish M-Score of -2.51 as of Jun. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Military Commercial Joint Stock Bank and its competitors. According to the industry distribution chart, Military Commercial Joint Stock Bank ranks #400 out of 1397 companies in the Banks industry, placing it in the top 28.6%.
Is Military Commercial Joint Stock Bank's Beneish M-Score too high?
Military Commercial Joint Stock Bank's current Beneish M-Score is -2.51. Based on the distribution chart, Military Commercial Joint Stock Bank ranks #400 out of 1397 companies in the Banks industry, which is above the industry midpoint. Overall, Military Commercial Joint Stock Bank has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Military Commercial Joint Stock Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Military Commercial Joint Stock Bank ranks #400 out of 1397 companies for Beneish M-Score. This puts Military Commercial Joint Stock Bank in the upper 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 Military Commercial Joint Stock Bank and its competitors. Military Commercial Joint Stock Bank's current Beneish M-Score is -2.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Military Commercial Joint Stock Bank stock overvalued right now?
Based on GuruFocus' analysis, Military Commercial Joint Stock Bank (STC:MBB) is currently considered Fairly Valued. The stock's GF Value™ is ₫24,698.04, compared to a current price of ₫24,750.00 — trading 0.2% above its estimated fair value. The current Beneish M-Score is -2.51. Military Commercial Joint Stock Bank's overall GF Score™ is 82/100 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 Military Commercial Joint Stock Bank (STC:MBB), the current Beneish M-Score is -2.51 as of Jun. 27, 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 Military Commercial Joint Stock Bank (STC:MBB) Overvalued in 2026?

Based on GuruFocus' analysis, Military Commercial Joint Stock Bank stock appears to be overvalued. The current stock price of ₫24,750.00 is trading 0.2% above its estimated GF Value™ of ₫24,698.04. GuruFocus considers Military Commercial Joint Stock Bank to be Fairly Valued.

Key valuation signals for STC:MBB:

  • Beneish M-Score: -2.51
  • GF Value™: ₫24,698.04 vs. price of ₫24,750.00 (0.2% above fair value)
  • GF Score™: 82/100 with 3 warning signs

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

Military Commercial Joint Stock Bank Business Description

Address No. 18 Le Van Luong Street, 25th Floor, MB Building, Trung Hoa Ward, Cau Giay District, Hanoi, VNM
Military Commercial Joint Stock Bank provides personal and corporate banking services in Vietnam. The company is engaged in mobilizing and receiving short. medium and long-term deposit funds from organizations and individuals; lending on a short, medium and long-term; conducting settlement and cash services and other banking services as approved by the SBV; making capital contributions. Its operating segment includes Banking and Finance; Securities - Fund Management; Insurance and Debt collection - Asset management. The company generates maximum revenue from Banking and Finance segment.
82GF Score

Get the complete analysis for STC:MBB

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

₫24,750.00
Price
₫24,698.04
GF Value