WTBFB (WTB Financial A) Beneish M-Score: -2.30 (As of Jul. 26, 2026)

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WTBFB WTB Financial A WTBFB
66 GF Score
Price $413.32
GF Value $380.20
Valuation Fairly Valued
! 1 Warning Sign
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What is WTB Financial A Beneish M-Score?

WTB Financial A WTBFB +0.30% 66 Beneish M-Score is -2.30 as of Jul. 26, 2026. GuruFocus rates WTBFB with a GF Score™ of 66/100 and a GF Value™ of $380.20 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,394 Banks companies, WTB Financial A ranks worse than 67.65% 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 -2.3 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

WTBFB' s Beneish M-Score Range Over the Past 10 Years
Min: -44.74   Med: -2.29   Max: -2
Current: -2.3

During the past 10 years, the highest Beneish M-Score of WTB Financial A was -2.00. The lowest was -44.74. And the median was -2.29.

WTBFB
66GF Score
WTB Financial A WTBFB
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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WTB Financial A 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 WTB Financial A 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 * 0.8488+0.528 * 1+0.404 * 0.9991+0.892 * 1.1934+0.115 * 1.0641
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0545+4.679 * -0.001325-0.327 * 0.5367
=-2.30

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $32.9 Mil.
Revenue was $422.4 Mil.
Gross Profit was $422.4 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $10,693.0 Mil.
Property, Plant and Equipment(Net PPE) was $134.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $8.1 Mil.
Selling, General, & Admin. Expense(SGA) was $17.7 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $288.4 Mil.
Net Income was $93.7 Mil.
Gross Profit was $0.0 Mil.
Cash Flow from Operations was $107.9 Mil.
 Total Receivables was $32.5 Mil.
Revenue was $354.0 Mil.
Gross Profit was $354.0 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $10,737.0 Mil.
Property, Plant and Equipment(Net PPE) was $125.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $8.1 Mil.
Selling, General, & Admin. Expense(SGA) was $14.0 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $539.7 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)
=(32.93 / 422.424) / (32.507 / 353.966)
=0.077955 / 0.091837
=0.8488

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)
=(353.966 / 353.966) / (422.424 / 422.424)
=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 + 134.477) / 10692.977) / (1 - (0 + 125.721) / 10736.971)
=0.987424 / 0.988291
=0.9991

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
=422.424 / 353.966
=1.1934

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))
=(8.062 / (8.062 + 125.721)) / (8.073 / (8.073 + 134.477))
=0.060262 / 0.056633
=1.0641

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)
=(17.651 / 422.424) / (14.026 / 353.966)
=0.041785 / 0.039625
=1.0545

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)
=((288.443 + 0) / 10692.977) / ((539.671 + 0) / 10736.971)
=0.026975 / 0.050263
=0.5367

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
=(93.739 - 0 - 107.91) / 10692.977
=-0.001325

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.

WTB Financial A has a M-score of -2.30 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 -2.30 mean?
WTB Financial A (WTBFB) has a Beneish M-Score of -2.30 as of Jul. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on WTB Financial A and its competitors. According to the industry distribution chart, WTB Financial A ranks #943 out of 1394 companies in the Banks industry, placing it in the top 67.6%.
Is WTB Financial A's Beneish M-Score too high?
WTB Financial A's current Beneish M-Score is -2.30. Based on the distribution chart, WTB Financial A ranks #943 out of 1394 companies in the Banks industry, which is below the industry midpoint. Overall, WTB Financial A has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does WTB Financial A's Beneish M-Score compare to MBWM and CPF?
According to the Banks industry distribution chart, WTB Financial A ranks #943 out of 1394 companies for Beneish M-Score. This places WTB Financial A 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 WTB Financial A and its competitors. WTB Financial A's current Beneish M-Score is -2.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WTB Financial A stock overvalued right now?
Based on GuruFocus' analysis, WTB Financial A (WTBFB) is currently considered Fairly Valued. The stock's GF Value™ is $380.20, compared to a current price of $413.32 — trading 8.7% above its estimated fair value. The current Beneish M-Score is -2.30. WTB Financial A's overall GF Score™ is 66/100 with 1 warning sign 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 WTB Financial A (WTBFB), the current Beneish M-Score is -2.30 as of Jul. 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 WTB Financial A (WTBFB) Overvalued in 2026?

Based on GuruFocus' analysis, WTB Financial A stock appears to be overvalued. The current stock price of $413.32 is trading 8.7% above its estimated GF Value™ of $380.20. GuruFocus considers WTB Financial A to be Fairly Valued.

Key valuation signals for WTBFB:

  • Beneish M-Score: -2.30
  • GF Value™: $380.20 vs. price of $413.32 (8.7% above fair value)
  • GF Score™: 66/100 with 1 warning sign

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

WTB Financial A Business Description

Other Exchanges WTBFA:USA
Address 717 West Sprague Avenue, P.O. Box 2127, Spokane, WA, USA, 99210-2127
WTB Financial A operates as a bank holding company of Washington Trust Bank. The company is engaged in the business of financial services in Washington, Idaho and Oregon. It also provides a wide range of banking, fiduciary, asset management, mortgage banking, and other financial services to corporate and individual customers. Its loan segments consist of the following disaggregation of loan types. Commercial and industrial loans are segmented into seven pools, including commercial taxable loans, commercial tax-exempt loans, commercial lines of credit, other commercial loans, commercial credit card loans, small business administration loans, and overdrafts.
66GF Score

Get the complete analysis for WTBFB

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

$413.32
Price
$380.20
GF Value