Bank Polska Kasa Opieki (WAR:PEO) Beneish M-Score: -2.75 (As of Aug. 10, 2026)

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WAR:PEO Bank Polska Kasa Opieki SA WAR:PEO
67 GF Score
Price zł252.90
GF Value zł178.36
Valuation Significantly Overvalued
! 9 Warning Signs
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What is Bank Polska Kasa Opieki Beneish M-Score?

Bank Polska Kasa Opieki WAR:PEO -1.56% 67 Beneish M-Score is -2.75 as of Aug. 10, 2026. GuruFocus rates WAR:PEO with a GF Score™ of 67/100 and a GF Value™ of zł178.36 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 1,394 Banks companies, Bank Polska Kasa Opieki ranks better than 88.24% 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 -2.75 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Bank Polska Kasa Opieki's Beneish M-Score or its related term are showing as below:

WAR:PEO' s Beneish M-Score Range Over the Past 10 Years
Min: -3.16   Med: -2.53   Max: -2.3
Current: -2.75

During the past 13 years, the highest Beneish M-Score of Bank Polska Kasa Opieki was -2.30. The lowest was -3.16. And the median was -2.53.

WAR:PEO
67GF Score
Bank Polska Kasa Opieki SA WAR:PEO
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Bank Polska Kasa Opieki 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 Bank Polska Kasa Opieki 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 * 0.9998+0.892 * 1.0132+0.115 * 1.0611
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.4133+4.679 * -0.036537-0.327 * 1.1524
=-2.75

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was zł0 Mil.
Revenue was 4460 + 4170 + 4437 + 4324 = zł17,391 Mil.
Gross Profit was 4460 + 4170 + 4437 + 4324 = zł17,391 Mil.
Total Current Assets was zł0 Mil.
Total Assets was zł367,789 Mil.
Property, Plant and Equipment(Net PPE) was zł2,299 Mil.
Depreciation, Depletion and Amortization(DDA) was zł763 Mil.
Selling, General, & Admin. Expense(SGA) was zł1,863 Mil.
Total Current Liabilities was zł0 Mil.
Long-Term Debt & Capital Lease Obligation was zł31,589 Mil.
Net Income was 1516 + 1232 + 1824 + 1905 = zł6,477 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = zł0 Mil.
Cash Flow from Operations was 16113 + 504 + 8675 + -5377 = zł19,915 Mil.
 Total Receivables was zł0 Mil.
Revenue was 4393 + 4259 + 4421 + 4091 = zł17,164 Mil.
Gross Profit was 4393 + 4259 + 4421 + 4091 = zł17,164 Mil.
Total Current Assets was zł0 Mil.
Total Assets was zł339,634 Mil.
Property, Plant and Equipment(Net PPE) was zł2,053 Mil.
Depreciation, Depletion and Amortization(DDA) was zł738 Mil.
Selling, General, & Admin. Expense(SGA) was zł1,301 Mil.
Total Current Liabilities was zł0 Mil.
Long-Term Debt & Capital Lease Obligation was zł25,313 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 / 17391) / (0 / 17164)
=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)
=(17164 / 17164) / (17391 / 17391)
=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 + 2299) / 367789) / (1 - (0 + 2053) / 339634)
=0.993749 / 0.993955
=0.9998

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
=17391 / 17164
=1.0132

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))
=(738 / (738 + 2053)) / (763 / (763 + 2299))
=0.264421 / 0.249184
=1.0611

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)
=(1863 / 17391) / (1301 / 17164)
=0.107124 / 0.075798
=1.4133

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)
=((31589 + 0) / 367789) / ((25313 + 0) / 339634)
=0.085889 / 0.07453
=1.1524

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
=(6477 - 0 - 19915) / 367789
=-0.036537

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.

Bank Polska Kasa Opieki has a M-score of -2.75 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 -2.75 mean?
Bank Polska Kasa Opieki (WAR:PEO) has a Beneish M-Score of -2.75 as of Aug. 10, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Bank Polska Kasa Opieki and its competitors. According to the industry distribution chart, Bank Polska Kasa Opieki ranks #164 out of 1394 companies in the Banks industry, placing it in the top 11.8%.
Is Bank Polska Kasa Opieki's Beneish M-Score too high?
Bank Polska Kasa Opieki's current Beneish M-Score is -2.75. Based on the distribution chart, Bank Polska Kasa Opieki ranks #164 out of 1394 companies in the Banks industry, which is in the top quartile — a strong position relative to peers. Overall, Bank Polska Kasa Opieki has a GF Score™ of 67/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bank Polska Kasa Opieki's Beneish M-Score compare to PNC?
According to the Banks industry distribution chart, Bank Polska Kasa Opieki ranks #164 out of 1394 companies for Beneish M-Score. This places Bank Polska Kasa Opieki in the top 12% of its industry — outperforming the majority of peers. 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 Bank Polska Kasa Opieki and its competitors. Bank Polska Kasa Opieki's current Beneish M-Score is -2.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bank Polska Kasa Opieki stock overvalued right now?
Based on GuruFocus' analysis, Bank Polska Kasa Opieki (WAR:PEO) is currently considered Significantly Overvalued. The stock's GF Value™ is zł178.36, compared to a current price of zł252.90 — trading 41.8% above its estimated fair value. The current Beneish M-Score is -2.75. Bank Polska Kasa Opieki's overall GF Score™ is 67/100 with 9 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 Bank Polska Kasa Opieki (WAR:PEO), the current Beneish M-Score is -2.75 as of Aug. 10, 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 Bank Polska Kasa Opieki (WAR:PEO) Overvalued in 2026?

Based on GuruFocus' analysis, Bank Polska Kasa Opieki stock appears to be overvalued. The current stock price of zł252.90 is trading 41.8% above its estimated GF Value™ of zł178.36. GuruFocus considers Bank Polska Kasa Opieki to be Significantly Overvalued.

Key valuation signals for WAR:PEO:

  • Beneish M-Score: -2.75
  • GF Value™: zł178.36 vs. price of zł252.90 (41.8% above fair value)
  • GF Score™: 67/100 with 9 warning signs

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

Bank Polska Kasa Opieki Business Description

Other Exchanges BKPKF:USA0DP0:UKBP1:Germany
Address Zubra Street 1, Warsaw, POL, 01-066
Bank Polska Kasa Opieki SA is a commercial banking group that provides a wide variety of retail and investment services in Poland. The group's four segments include retail banking and private banking, corporate and investment banking, enterprise banking and assets and liabilities management. Of these segments, retail and private banking is the greatest contributor to both net interest income and fee and commission income, followed by corporate and investment banking. The majority of the bank's revenue is net interest income, almost entirely derived from loans and receivables from customers.
67GF Score

Get the complete analysis for WAR:PEO

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

zł252.90
Price
zł178.36
GF Value