TCBX (Third Coast Bancshares) Beneish M-Score: -2.16 (As of Jun. 30, 2026)


TCBX Third Coast Bancshares Inc TCBX
56 GF Score
Price $40.40
GF Value $37.26
Valuation Fairly Valued
! 4 Warning Signs
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What is Third Coast Bancshares Beneish M-Score?

Third Coast Bancshares TCBX +0.22% 56 Beneish M-Score is -2.16 as of Jun. 30, 2026. GuruFocus rates TCBX with a GF Score™ of 56/100 and a GF Value™ of $37.26 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,399 Banks companies, Third Coast Bancshares ranks worse than 83.42% 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 -2.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

TCBX' s Beneish M-Score Range Over the Past 10 Years
Min: -17.88   Med: -2.31   Max: -2.16
Current: -2.16

During the past 7 years, the highest Beneish M-Score of Third Coast Bancshares was -2.16. The lowest was -17.88. And the median was -2.31.

TCBX
56GF Score
Third Coast Bancshares Inc TCBX
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Third Coast Bancshares 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 Third Coast Bancshares 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 * 0.9413+0.528 * 1+0.404 * 1.0004+0.892 * 1.2463+0.115 * 1.1765
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0045+4.679 * 0.010241-0.327 * 0.7326
=-2.16

* 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 $31.4 Mil.
Revenue was 57.141 + 56.061 + 54.455 + 51.585 = $219.2 Mil.
Gross Profit was 57.141 + 56.061 + 54.455 + 51.585 = $219.2 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $6,582.1 Mil.
Property, Plant and Equipment(Net PPE) was $58.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $5.1 Mil.
Selling, General, & Admin. Expense(SGA) was $86.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $99.7 Mil.
Net Income was 16.368 + 17.898 + 18.057 + 16.747 = $69.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was -38.7 + 5.738 + 20.745 + 13.879 = $1.7 Mil.
 Total Receivables was $26.8 Mil.
Revenue was 45.635 + 46.122 + 42.673 + 41.484 = $175.9 Mil.
Gross Profit was 45.635 + 46.122 + 42.673 + 41.484 = $175.9 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $4,897.0 Mil.
Property, Plant and Equipment(Net PPE) was $45.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $4.7 Mil.
Selling, General, & Admin. Expense(SGA) was $68.7 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $101.2 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)
=(31.385 / 219.242) / (26.752 / 175.914)
=0.143152 / 0.152074
=0.9413

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)
=(175.914 / 175.914) / (219.242 / 219.242)
=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 + 58.173) / 6582.073) / (1 - (0 + 45.039) / 4896.989)
=0.991162 / 0.990803
=1.0004

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
=219.242 / 175.914
=1.2463

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))
=(4.742 / (4.742 + 45.039)) / (5.125 / (5.125 + 58.173))
=0.095257 / 0.080966
=1.1765

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)
=(86.03 / 219.242) / (68.716 / 175.914)
=0.392397 / 0.390623
=1.0045

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)
=((99.692 + 0) / 6582.073) / ((101.235 + 0) / 4896.989)
=0.015146 / 0.020673
=0.7326

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
=(69.07 - 0 - 1.662) / 6582.073
=0.010241

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.

Third Coast Bancshares has a M-score of -2.16 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 -2.16 mean?
Third Coast Bancshares (TCBX) has a Beneish M-Score of -2.16 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Third Coast Bancshares and its competitors. According to the industry distribution chart, Third Coast Bancshares ranks #1167 out of 1399 companies in the Banks industry, placing it in the top 83.4%.
Is Third Coast Bancshares' Beneish M-Score too high?
Third Coast Bancshares' current Beneish M-Score is -2.16. Based on the distribution chart, Third Coast Bancshares ranks #1167 out of 1399 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Third Coast Bancshares has a GF Score™ of 56/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Third Coast Bancshares' Beneish M-Score compare to AROW and HIFS?
According to the Banks industry distribution chart, Third Coast Bancshares ranks #1167 out of 1399 companies for Beneish M-Score. This places Third Coast Bancshares 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 Third Coast Bancshares and its competitors. Third Coast Bancshares's current Beneish M-Score is -2.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Third Coast Bancshares stock overvalued right now?
Based on GuruFocus' analysis, Third Coast Bancshares (TCBX) is currently considered Fairly Valued. The stock's GF Value™ is $37.26, compared to a current price of $40.40 — trading 8.4% above its estimated fair value. The current Beneish M-Score is -2.16. Third Coast Bancshares' overall GF Score™ is 56/100 with 4 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 Third Coast Bancshares (TCBX), the current Beneish M-Score is -2.16 as of Jun. 30, 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 Third Coast Bancshares (TCBX) Overvalued in 2026?

Based on GuruFocus' analysis, Third Coast Bancshares stock appears to be overvalued. The current stock price of $40.40 is trading 8.4% above its estimated GF Value™ of $37.26. GuruFocus considers Third Coast Bancshares to be Fairly Valued.

Key valuation signals for TCBX:

  • Beneish M-Score: -2.16
  • GF Value™: $37.26 vs. price of $40.40 (8.4% above fair value)
  • GF Score™: 56/100 with 4 warning signs

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

Third Coast Bancshares Business Description

Other Exchanges GL0:Germany
Address 20202 Highway 59 North, Suite 190, Humble, TX, USA, 77338
Third Coast Bancshares Inc is a bank holding company. It focuses on providing commercial banking solutions to small and medium-sized businesses and professionals with operations in its markets. The bank operates twenty branches in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets, one branch in Ballinger, Texas, and one branch in Detroit, Texas. The company operates through one segment, community banking, It generates the majority of its revenue from interest on loans, customer service, and loan fees.
56GF Score

Get the complete analysis for TCBX

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

$40.40
Price
$37.26
GF Value