NSIA Banque Cote d Ivoire (XBRV:NSBC) Beneish M-Score: 0.00 (As of Sep. 21, 2026)

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XBRV:NSBC NSIA Banque Cote d Ivoire XBRV:NSBC
16 GF Score
Price XOF24,505.00
! 1 Warning Sign
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What is NSIA Banque Cote d Ivoire Beneish M-Score?

NSIA Banque Cote d Ivoire XBRV:NSBC +0.02% 16 Beneish M-Score is 0.00 as of Sep. 21, 2026. GuruFocus rates XBRV:NSBC with a GF Score™ of 16/100. The stock has 1 warning sign investors should review. Among 1,387 Banks companies, NSIA Banque Cote d Ivoire ranks worse than 72097.98% 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.

The historical rank and industry rank for NSIA Banque Cote d Ivoire's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of NSIA Banque Cote d Ivoire was 0.00. The lowest was 0.00. And the median was 0.00.

XBRV:NSBC
16GF Score
NSIA Banque Cote d Ivoire XBRV:NSBC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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NSIA Banque Cote d Ivoire 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 NSIA Banque Cote d Ivoire 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was XOF8,949 Mil.
Revenue was XOF101,725 Mil.
Gross Profit was XOF Mil.
Total Current Assets was XOF Mil.
Total Assets was XOF2,514,388 Mil.
Property, Plant and Equipment(Net PPE) was XOF107,287 Mil.
Depreciation, Depletion and Amortization(DDA) was XOF8,474 Mil.
Selling, General, & Admin. Expense(SGA) was XOF Mil.
Total Current Liabilities was XOF Mil.
Long-Term Debt & Capital Lease Obligation was XOF534,250 Mil.
Net Income was XOF38,112 Mil.
Gross Profit was XOF Mil.
Cash Flow from Operations was XOF Mil.
 Total Receivables was XOF3,126 Mil.
Revenue was XOF95,998 Mil.
Gross Profit was XOF Mil.
Total Current Assets was XOF Mil.
Total Assets was XOF2,037,064 Mil.
Property, Plant and Equipment(Net PPE) was XOF80,403 Mil.
Depreciation, Depletion and Amortization(DDA) was XOF7,269 Mil.
Selling, General, & Admin. Expense(SGA) was XOF Mil.
Total Current Liabilities was XOF Mil.
Long-Term Debt & Capital Lease Obligation was XOF387,146 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)
=(8949 / 101725) / (3126 / 95998)
=0.087972 / 0.032563
=

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)
=(0 / 95998) / (0 / 101725)
=0 / 0
=

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 + 107287) / 2514388) / (1 - (0 + 80403) / 2037064)
=0.957331 / 0.96053
=

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
=101725 / 95998
=

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))
=(7269 / (7269 + 80403)) / (8474 / (8474 + 107287))
=0.082911 / 0.073203
=

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)
=(0 / 101725) / (0 / 95998)
=0 / 0
=

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)
=((534250 + 0) / 2514388) / ((387146 + 0) / 2037064)
=0.212477 / 0.190051
=

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
=(38112 - 0 - 0) / 2514388
=0.015158

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
NSIA Banque Cote d Ivoire (XBRV:NSBC) has a Beneish M-Score of 0.00 as of Sep. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on NSIA Banque Cote d Ivoire and its competitors. According to the industry distribution chart, NSIA Banque Cote d Ivoire ranks #999999 out of 1387 companies in the Banks industry.
Is NSIA Banque Cote d Ivoire's Beneish M-Score too high?
NSIA Banque Cote d Ivoire's current Beneish M-Score is 0.00. Based on the distribution chart, NSIA Banque Cote d Ivoire ranks #999999 out of 1387 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, NSIA Banque Cote d Ivoire has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does NSIA Banque Cote d Ivoire's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, NSIA Banque Cote d Ivoire ranks #999999 out of 1387 companies for Beneish M-Score. This places NSIA Banque Cote d Ivoire 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 NSIA Banque Cote d Ivoire and its competitors. NSIA Banque Cote d Ivoire's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NSIA Banque Cote d Ivoire stock overvalued right now?
NSIA Banque Cote d Ivoire (XBRV:NSBC) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. NSIA Banque Cote d Ivoire's overall GF Score™ is 16/100 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 NSIA Banque Cote d Ivoire (XBRV:NSBC), the current Beneish M-Score is 0.00 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.

NSIA Banque Cote d Ivoire Business Description

Address 8-10 Avenue Joseph Anoma, Abidjan, CIV, 01 BP 1274
NSIA Banque Cote d Ivoire operates as a bank, providing services including young account, e-banking, insurance, savings credit, loans, deposits, investment products, and other services.
16GF Score

Get the complete analysis for XBRV:NSBC

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

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