Bancontander Chile (STU:BSA) Beneish M-Score: 5545.44 (As of Jun. 26, 2026)


STU:BSA Banco Santander Chile STU:BSA
72 GF Score
Price €28.00
GF Value €26.37
Valuation Fairly Valued
! 8 Warning Signs
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What is Bancontander Chile Beneish M-Score?

Bancontander Chile STU:BSA +1.45% 72 Beneish M-Score is 5545.44 as of Jun. 26, 2026. GuruFocus rates STU:BSA with a GF Score™ of 72/100 and a GF Value™ of €26.37 (Fairly Valued). The stock has 8 warning signs investors should review. Among 1,397 Banks companies, Bancontander Chile ranks worse than 100% 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.

Warning Sign:

Beneish M-Score 5545.44 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Bancontander Chile's Beneish M-Score or its related term are showing as below:

STU:BSA' s Beneish M-Score Range Over the Past 10 Years
Min: -3.33   Med: -2.46   Max: 5545.44
Current: 5545.44

During the past 13 years, the highest Beneish M-Score of Bancontander Chile was 5545.44. The lowest was -3.33. And the median was -2.46.

STU:BSA
72GF Score
Banco Santander Chile STU:BSA
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bancontander Chile 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 Bancontander Chile 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 * 6158.3462+0.528 * 1+0.404 * 1.0006+0.892 * 0.9779+0.115 * 0.9758
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8569+4.679 * 0.012156-0.327 * 1.1092
=5,662.30

* 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 €476 Mil.
Revenue was 693.9 + 1167.215 + 435.411 + 677.214 = €2,974 Mil.
Gross Profit was 693.9 + 1167.215 + 435.411 + 677.214 = €2,974 Mil.
Total Current Assets was €0 Mil.
Total Assets was €66,241 Mil.
Property, Plant and Equipment(Net PPE) was €263 Mil.
Depreciation, Depletion and Amortization(DDA) was €124 Mil.
Selling, General, & Admin. Expense(SGA) was €699 Mil.
Total Current Liabilities was €0 Mil.
Long-Term Debt & Capital Lease Obligation was €12,970 Mil.
Net Income was 258.899 + 209.103 + 219.733 + 252.09 = €940 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was 92.207 + -341.655 + 285.207 + 98.835 = €135 Mil.
 Total Receivables was €0 Mil.
Revenue was 722.351 + 1161.147 + 505.625 + 651.694 = €3,041 Mil.
Gross Profit was 722.351 + 1161.147 + 505.625 + 651.694 = €3,041 Mil.
Total Current Assets was €0 Mil.
Total Assets was €66,532 Mil.
Property, Plant and Equipment(Net PPE) was €303 Mil.
Depreciation, Depletion and Amortization(DDA) was €138 Mil.
Selling, General, & Admin. Expense(SGA) was €834 Mil.
Total Current Liabilities was €0 Mil.
Long-Term Debt & Capital Lease Obligation was €11,745 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)
=(476.147 / 2973.74) / (0.078 / 3040.817)
=0.160117 / 2.6E-5
=6158.3462

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)
=(3040.817 / 3040.817) / (2973.74 / 2973.74)
=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 + 263.1) / 66240.665) / (1 - (0 + 303.045) / 66532.37)
=0.996028 / 0.995445
=1.0006

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
=2973.74 / 3040.817
=0.9779

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))
=(138.101 / (138.101 + 303.045)) / (124.278 / (124.278 + 263.1))
=0.313051 / 0.320818
=0.9758

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)
=(699.026 / 2973.74) / (834.126 / 3040.817)
=0.235066 / 0.27431
=0.8569

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)
=((12970.093 + 0) / 66240.665) / ((11744.911 + 0) / 66532.37)
=0.195803 / 0.176529
=1.1092

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
=(939.825 - 0 - 134.594) / 66240.665
=0.012156

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.

Bancontander Chile has a M-score of 5,662.30 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 5545.44 mean?
Bancontander Chile (STU:BSA) has a Beneish M-Score of 5545.44 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bancontander Chile and its competitors. According to the industry distribution chart, Bancontander Chile ranks #1397 out of 1397 companies in the Banks industry.
Is Bancontander Chile's Beneish M-Score too high?
Bancontander Chile's current Beneish M-Score is 5545.44. Based on the distribution chart, Bancontander Chile ranks #1397 out of 1397 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Bancontander Chile has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Bancontander Chile's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Bancontander Chile ranks #1397 out of 1397 companies for Beneish M-Score. This places Bancontander Chile 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 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 Bancontander Chile and its competitors. Bancontander Chile's current Beneish M-Score is 5545.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bancontander Chile stock overvalued right now?
Based on GuruFocus' analysis, Bancontander Chile (STU:BSA) is currently considered Fairly Valued. The stock's GF Value™ is €26.37, compared to a current price of €28.00 — trading 6.2% above its estimated fair value. The current Beneish M-Score is 5545.44. Bancontander Chile's overall GF Score™ is 72/100 with 8 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 Bancontander Chile (STU:BSA), the current Beneish M-Score is 5545.44 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 Bancontander Chile (STU:BSA) Overvalued in 2026?

Based on GuruFocus' analysis, Bancontander Chile stock appears to be overvalued. The current stock price of €28.00 is trading 6.2% above its estimated GF Value™ of €26.37. GuruFocus considers Bancontander Chile to be Fairly Valued.

Key valuation signals for STU:BSA:

  • Beneish M-Score: 5545.44
  • GF Value™: €26.37 vs. price of €28.00 (6.2% above fair value)
  • GF Score™: 72/100 with 8 warning signs

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

Bancontander Chile Business Description

Address Bandera 140, 20th Floor, Santiago, CHL
Founded in 1978, Banco Santander Chile is part of Santander Group and majority-controlled by Santander Spain. It is the largest bank in Chile by loans and the second largest by deposits. The bank generates most of its net interest income (roughly 65% of total revenue) from its mortgages, unsecured consumer credit lines, and commercial loans. Banco Santander's commercial loan business is more focused on small- to medium-size companies, with firms generating more than CLP 10,000 million in revenue only making up around 5% of outstanding loans. Outside of lending, Banco Santander is the largest card issuer in the country with around 25% of the market and benefits from a long-term strategic partnership with the largest airline in the country, LATAM.
72GF Score

Get the complete analysis for STU:BSA

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

€28.00
Price
€26.37
GF Value