Vietnam Prosperity JSC Bank (STC:VPB) Beneish M-Score: -2.48 (As of Jun. 24, 2026)


STC:VPB Vietnam Prosperity JSC Bank STC:VPB
76 GF Score
Price ₫26,550.00
GF Value ₫27,547.55
Valuation Fairly Valued
! 2 Warning Signs
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What is Vietnam Prosperity JSC Bank Beneish M-Score?

Vietnam Prosperity JSC Bank STC:VPB 76 Beneish M-Score is -2.48 as of Jun. 24, 2026. GuruFocus rates STC:VPB with a GF Score™ of 76/100 and a GF Value™ of ₫27,547.55 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,396 Banks companies, Vietnam Prosperity JSC Bank ranks better than 66.12% 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 -2.48 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Vietnam Prosperity JSC Bank's Beneish M-Score or its related term are showing as below:

STC:VPB' s Beneish M-Score Range Over the Past 10 Years
Min: -2.82   Med: -2.32   Max: -1.8
Current: -2.48

During the past 9 years, the highest Beneish M-Score of Vietnam Prosperity JSC Bank was -1.80. The lowest was -2.82. And the median was -2.32.

STC:VPB
76GF Score
Vietnam Prosperity JSC Bank STC:VPB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Vietnam Prosperity JSC 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 Prosperity JSC 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 * 1.2066+0.115 * 1.0149
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2135+4.679 * -0.015914-0.327 * 1.2408
=-2.48

* 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 19956098 + 23584420 + 21206570 + 17210043 = ₫81,957,131 Mil.
Gross Profit was 19956098 + 23584420 + 21206570 + 17210043 = ₫81,957,131 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫1,372,010,032 Mil.
Property, Plant and Equipment(Net PPE) was ₫1,522,116 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫556,901 Mil.
Selling, General, & Admin. Expense(SGA) was ₫1,848,206 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫300,745,152 Mil.
Net Income was 6198661 + 7957142 + 7275479 + 4862400 = ₫26,293,682 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was 12145698 + 17134993 + 4043752 + 14803070 = ₫48,127,513 Mil.
 Total Receivables was ₫0 Mil.
Revenue was 15737885 + 18962012 + 16175330 + 17047900 = ₫67,923,127 Mil.
Gross Profit was 15737885 + 18962012 + 16175330 + 17047900 = ₫67,923,127 Mil.
Total Current Assets was ₫0 Mil.
Total Assets was ₫994,036,651 Mil.
Property, Plant and Equipment(Net PPE) was ₫1,413,525 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫527,743 Mil.
Selling, General, & Admin. Expense(SGA) was ₫1,262,300 Mil.
Total Current Liabilities was ₫0 Mil.
Long-Term Debt & Capital Lease Obligation was ₫175,610,983 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 / 81957131) / (0 / 67923127)
=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)
=(67923127 / 67923127) / (81957131 / 81957131)
=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 + 1522116) / 1372010032) / (1 - (0 + 1413525) / 994036651)
=0.998891 / 0.998578
=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
=81957131 / 67923127
=1.2066

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))
=(527743 / (527743 + 1413525)) / (556901 / (556901 + 1522116))
=0.271855 / 0.267867
=1.0149

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)
=(1848206 / 81957131) / (1262300 / 67923127)
=0.022551 / 0.018584
=1.2135

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)
=((300745152 + 0) / 1372010032) / ((175610983 + 0) / 994036651)
=0.2192 / 0.176664
=1.2408

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
=(26293682 - 0 - 48127513) / 1372010032
=-0.015914

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 Prosperity JSC Bank has a M-score of -2.48 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 -2.48 mean?
Vietnam Prosperity JSC Bank (STC:VPB) has a Beneish M-Score of -2.48 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Vietnam Prosperity JSC Bank and its competitors. According to the industry distribution chart, Vietnam Prosperity JSC Bank ranks #473 out of 1396 companies in the Banks industry, placing it in the top 33.9%.
Is Vietnam Prosperity JSC Bank's Beneish M-Score too high?
Vietnam Prosperity JSC Bank's current Beneish M-Score is -2.48. Based on the distribution chart, Vietnam Prosperity JSC Bank ranks #473 out of 1396 companies in the Banks industry, which is above the industry midpoint. Overall, Vietnam Prosperity JSC Bank has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Vietnam Prosperity JSC Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Vietnam Prosperity JSC Bank ranks #473 out of 1396 companies for Beneish M-Score. This puts Vietnam Prosperity JSC 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 Vietnam Prosperity JSC Bank and its competitors. Vietnam Prosperity JSC Bank's current Beneish M-Score is -2.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vietnam Prosperity JSC Bank stock overvalued right now?
Based on GuruFocus' analysis, Vietnam Prosperity JSC Bank (STC:VPB) is currently considered Fairly Valued. The stock's GF Value™ is ₫27,547.55, compared to a current price of ₫26,550.00 — trading 3.6% below its estimated fair value. The current Beneish M-Score is -2.48. Vietnam Prosperity JSC Bank's overall GF Score™ is 76/100 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 Vietnam Prosperity JSC Bank (STC:VPB), the current Beneish M-Score is -2.48 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 Vietnam Prosperity JSC Bank (STC:VPB) Overvalued in 2026?

Based on GuruFocus' analysis, Vietnam Prosperity JSC Bank stock appears to be undervalued. The current stock price of ₫26,550.00 is trading 3.6% below its estimated GF Value™ of ₫27,547.55. GuruFocus considers Vietnam Prosperity JSC Bank to be Fairly Valued.

Key valuation signals for STC:VPB:

  • Beneish M-Score: -2.48
  • GF Value™: ₫27,547.55 vs. price of ₫26,550.00 (3.6% below fair value)
  • GF Score™: 76/100 with 2 warning signs

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

Vietnam Prosperity JSC Bank Business Description

Address No. 89 Lang Ha Street, Lang Ha Ward, Dong Da District, Hanoi, VNM
Vietnam Prosperity JSC Bank is engaged in offering banking services in Vietnam. The firm offers personal services, cards, e-banking services, insurance, and other financial services for household and small and medium enterprises. Its segment includes Banking; Finance company and Asset and liabilities management. The company generates maximum revenue from the Banking segment.
76GF Score

Get the complete analysis for STC:VPB

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

₫26,550.00
Price
₫27,547.55
GF Value