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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 -2.52 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Ameriprise Financial's Beneish M-Score or its related term are showing as below:
STU:A4S'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.7 Med: -2.49 Max: -1.47
Current: -2.52
During the past 13 years, the highest Beneish M-Score of Ameriprise Financial was -1.47. The lowest was -2.70. And the median was -2.49.
Ameriprise Financial Beneish M-Score Related Terms
Ameriprise Financial Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Ameriprise Financial's Beneish M-Score can be seen below:
* 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.
STU:A4S vs STT, RJF, NTRS: Beneish M-Score Comparison
For the Asset Management subindustry, Ameriprise Financial's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Ameriprise Financial Beneish M-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Ameriprise Financial's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ameriprise Financial's Beneish M-Score falls into.
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 Ameriprise Financial 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 * 1.1001
+
0.528 * 1.0246
+
0.404 * 0.9912
+
0.892 * 1.0138
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.9334
+
4.679 * -0.021616
-
0.327 * 1.0419
=
-2.47
* 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.
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.
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))
=
(-114.033 / (-114.033 + 0))
/
(-44.3 / (-44.3 + 0))
=
1
/
1
=
1
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
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
=
(3385.78 - 0
-
7126.828)
/
173070.06
=
-0.021616
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.
Ameriprise Financial has a M-score of -2.47 suggests that the company is unlikely to be a manipulator.
Ameriprise Financial (STU:A4S) has a Beneish M-Score of -2.52 as of Sep. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Ameriprise Financial and its competitors. According to the industry distribution chart, Ameriprise Financial ranks #344 out of 946 companies in the Asset Management industry, placing it in the top 36.4%.
Is Ameriprise Financial's Beneish M-Score too high?
Ameriprise Financial's current Beneish M-Score is -2.52. Based on the distribution chart, Ameriprise Financial ranks #344 out of 946 companies in the Asset Management industry, which is above the industry midpoint. Overall, Ameriprise Financial has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Ameriprise Financial's Beneish M-Score compare to STT and RJF?
According to the Asset Management industry distribution chart, Ameriprise Financial ranks #344 out of 946 companies for Beneish M-Score. This puts Ameriprise Financial 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 Ameriprise Financial and its competitors. Ameriprise Financial's current Beneish M-Score is -2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ameriprise Financial stock overvalued right now?
Based on GuruFocus' analysis, Ameriprise Financial (STU:A4S) is currently considered Fairly Valued. The stock's GF Value™ is €498.98, compared to a current price of €472.80 — trading 5.2% below its estimated fair value. The current Beneish M-Score is -2.52. Ameriprise Financial's overall GF Score™ is 90/100 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 Ameriprise Financial (STU:A4S), the current Beneish M-Score is -2.52 as of Sep. 21, 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 Ameriprise Financial (STU:A4S) Overvalued in 2026?
Based on GuruFocus' analysis, Ameriprise Financial stock appears to be undervalued.
The current stock price of €472.80 is trading 5.2% below its estimated GF Value™ of €498.98.
GuruFocus considers Ameriprise Financial to be Fairly Valued.
Key valuation signals for STU:A4S:
Beneish M-Score: -2.52
GF Value™: €498.98 vs. price of €472.80 (5.2% below fair value)
No single metric tells the full story. See the STU:A4S stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ameriprise Financial has evolved into a diversified financial services provider that generates roughly 65% of its operating profit from advice and wealth management. With nearly $1.2 trillion in segment assets under management and advisory at year-end 2025, and with roughly 10,600 affiliated and employee advisors, Ameriprise is one of the larger US-based wealth managers. It also boasts a reasonably large asset management franchise in Columbia Threadneedle, which boasted $678 billion in assets under management at year-end 2025. The firm's third segment is its retirement and protection services business, which sells insurance products to the firm's advisory clients. After eliminations, Ameriprise had $1.69 trillion in assets under management and advisory across segments at year-end 2025.
90GF Score
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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