Citizen Bank International (XNEP:CZBIL) Beneish M-Score: -2.39 (As of Aug. 14, 2026)

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XNEP:CZBIL Citizen Bank International Ltd XNEP:CZBIL
66 GF Score
Price NPR204.90
GF Value NPR210.67
Valuation Fairly Valued
! 1 Warning Sign
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What is Citizen Bank International Beneish M-Score?

Citizen Bank International XNEP:CZBIL +0.49% 66 Beneish M-Score is -2.39 as of Aug. 14, 2026. GuruFocus rates XNEP:CZBIL with a GF Score™ of 66/100 and a GF Value™ of NPR210.67 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,393 Banks companies, Citizen Bank International ranks worse than 51.62% 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 -2.39 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XNEP:CZBIL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.05   Med: -2.32   Max: -2.06
Current: -2.39

During the past 13 years, the highest Beneish M-Score of Citizen Bank International was -2.06. The lowest was -3.05. And the median was -2.32.

XNEP:CZBIL
66GF Score
Citizen Bank International Ltd XNEP:CZBIL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Citizen Bank International 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 Citizen Bank International 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 * 1.0027+0.892 * 1.1598+0.115 * 0.8409
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.96+4.679 * -0.015022-0.327 * 0.9081
=-2.39

* 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 (Jul25) TTM:Last Year (Jul24) TTM:
Total Receivables was NPR0 Mil.
Revenue was NPR8,319 Mil.
Gross Profit was NPR8,319 Mil.
Total Current Assets was NPR0 Mil.
Total Assets was NPR245,339 Mil.
Property, Plant and Equipment(Net PPE) was NPR4,111 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR403 Mil.
Selling, General, & Admin. Expense(SGA) was NPR934 Mil.
Total Current Liabilities was NPR0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR6,536 Mil.
Net Income was NPR1,345 Mil.
Gross Profit was NPR0 Mil.
Cash Flow from Operations was NPR5,030 Mil.
 Total Receivables was NPR0 Mil.
Revenue was NPR7,173 Mil.
Gross Profit was NPR7,173 Mil.
Total Current Assets was NPR0 Mil.
Total Assets was NPR222,474 Mil.
Property, Plant and Equipment(Net PPE) was NPR4,316 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR350 Mil.
Selling, General, & Admin. Expense(SGA) was NPR839 Mil.
Total Current Liabilities was NPR0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR6,527 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 / 8319.405) / (0 / 7173.384)
=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)
=(7173.384 / 7173.384) / (8319.405 / 8319.405)
=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 + 4111.182) / 245338.763) / (1 - (0 + 4316.396) / 222474.077)
=0.983243 / 0.980598
=1.0027

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
=8319.405 / 7173.384
=1.1598

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))
=(350.11 / (350.11 + 4316.396)) / (402.712 / (402.712 + 4111.182))
=0.075026 / 0.089216
=0.8409

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)
=(933.835 / 8319.405) / (838.759 / 7173.384)
=0.112248 / 0.116927
=0.96

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)
=((6536.492 + 0) / 245338.763) / ((6527.035 + 0) / 222474.077)
=0.026643 / 0.029338
=0.9081

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
=(1344.532 - 0 - 5030.03) / 245338.763
=-0.015022

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.

Citizen Bank International has a M-score of -2.39 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 -2.39 mean?
Citizen Bank International (XNEP:CZBIL) has a Beneish M-Score of -2.39 as of Aug. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Citizen Bank International and its competitors. According to the industry distribution chart, Citizen Bank International ranks #719 out of 1393 companies in the Banks industry, placing it in the top 51.6%.
Is Citizen Bank International's Beneish M-Score too high?
Citizen Bank International's current Beneish M-Score is -2.39. Based on the distribution chart, Citizen Bank International ranks #719 out of 1393 companies in the Banks industry, which is below the industry midpoint. Overall, Citizen Bank International has a GF Score™ of 66/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Citizen Bank International's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Citizen Bank International ranks #719 out of 1393 companies for Beneish M-Score. This places Citizen Bank International 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 Citizen Bank International and its competitors. Citizen Bank International's current Beneish M-Score is -2.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Citizen Bank International stock overvalued right now?
Based on GuruFocus' analysis, Citizen Bank International (XNEP:CZBIL) is currently considered Fairly Valued. The stock's GF Value™ is NPR210.67, compared to a current price of NPR204.90 — trading 2.7% below its estimated fair value. The current Beneish M-Score is -2.39. Citizen Bank International'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 Citizen Bank International (XNEP:CZBIL), the current Beneish M-Score is -2.39 as of Aug. 14, 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 Citizen Bank International (XNEP:CZBIL) Overvalued in 2026?

Based on GuruFocus' analysis, Citizen Bank International stock appears to be undervalued. The current stock price of NPR204.90 is trading 2.7% below its estimated GF Value™ of NPR210.67. GuruFocus considers Citizen Bank International to be Fairly Valued.

Key valuation signals for XNEP:CZBIL:

  • Beneish M-Score: -2.39
  • GF Value™: NPR210.67 vs. price of NPR204.90 (2.7% below fair value)
  • GF Score™: 66/100 with 1 warning sign

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

Citizen Bank International Business Description

Address Narayanhiti Path, P.O.BOX: 19681, Kathmandu, NPL
Citizen Bank International Ltd operates as a commercial bank. The company provides commercial banking services including agency services, trade finance services, e-commerce services, and trading of gold and silver. Its products include Online Products; Deposits; loans; Cards; and remittances. The operating segments of the group are Banking; Treasury; Cards; and Remittance, of which a majority of revenue is derived from Banking which comprises the product and service of loans and deposits, and generates revenue from interest on a loan.
66GF Score

Get the complete analysis for XNEP:CZBIL

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

NPR204.90
Price
NPR210.67
GF Value