Everest Bank (XNEP:EBL) Beneish M-Score: -2.21 (As of Jul. 03, 2026)


XNEP:EBL Everest Bank Ltd XNEP:EBL
68 GF Score
Price NPR704.00
GF Value NPR718.27
Valuation Fairly Valued
! 3 Warning Signs
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What is Everest Bank Beneish M-Score?

Everest Bank XNEP:EBL +1.44% 68 Beneish M-Score is -2.21 as of Jul. 03, 2026. GuruFocus rates XNEP:EBL with a GF Score™ of 68/100 and a GF Value™ of NPR718.27 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,397 Banks companies, Everest Bank ranks worse than 79.24% 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 -2.21 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XNEP:EBL' s Beneish M-Score Range Over the Past 10 Years
Min: -2.92   Med: -2.35   Max: -1.88
Current: -2.21

During the past 13 years, the highest Beneish M-Score of Everest Bank was -1.88. The lowest was -2.92. And the median was -2.35.

XNEP:EBL
68GF Score
Everest Bank Ltd XNEP:EBL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Everest Bank 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 Everest Bank 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 * 1.0017+0.892 * 1.1888+0.115 * 1.0858
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8426+4.679 * 0.015698-0.327 * 1.0368
=-2.21

* 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 NPR11,169 Mil.
Gross Profit was NPR11,169 Mil.
Total Current Assets was NPR0 Mil.
Total Assets was NPR363,639 Mil.
Property, Plant and Equipment(Net PPE) was NPR4,178 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR326 Mil.
Selling, General, & Admin. Expense(SGA) was NPR644 Mil.
Total Current Liabilities was NPR0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR8,876 Mil.
Net Income was NPR4,840 Mil.
Gross Profit was NPR0 Mil.
Cash Flow from Operations was NPR-869 Mil.
 Total Receivables was NPR0 Mil.
Revenue was NPR9,395 Mil.
Gross Profit was NPR9,395 Mil.
Total Current Assets was NPR0 Mil.
Total Assets was NPR295,705 Mil.
Property, Plant and Equipment(Net PPE) was NPR3,891 Mil.
Depreciation, Depletion and Amortization(DDA) was NPR332 Mil.
Selling, General, & Admin. Expense(SGA) was NPR643 Mil.
Total Current Liabilities was NPR0 Mil.
Long-Term Debt & Capital Lease Obligation was NPR6,961 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 / 11169.046) / (0 / 9394.873)
=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)
=(9394.873 / 9394.873) / (11169.046 / 11169.046)
=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 + 4177.562) / 363639.245) / (1 - (0 + 3891.475) / 295705.412)
=0.988512 / 0.98684
=1.0017

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
=11169.046 / 9394.873
=1.1888

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))
=(332.375 / (332.375 + 3891.475)) / (326.421 / (326.421 + 4177.562))
=0.07869 / 0.072474
=1.0858

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)
=(644.019 / 11169.046) / (642.945 / 9394.873)
=0.057661 / 0.068436
=0.8426

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)
=((8875.519 + 0) / 363639.245) / ((6961.263 + 0) / 295705.412)
=0.024407 / 0.023541
=1.0368

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
=(4839.903 - 0 - -868.541) / 363639.245
=0.015698

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.

Everest Bank has a M-score of -2.21 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 -2.21 mean?
Everest Bank (XNEP:EBL) has a Beneish M-Score of -2.21 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Everest Bank and its competitors. According to the industry distribution chart, Everest Bank ranks #1107 out of 1397 companies in the Banks industry, placing it in the top 79.2%.
Is Everest Bank's Beneish M-Score too high?
Everest Bank's current Beneish M-Score is -2.21. Based on the distribution chart, Everest Bank ranks #1107 out of 1397 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Everest Bank has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Everest Bank's Beneish M-Score compare to competitors?
According to the Banks industry distribution chart, Everest Bank ranks #1107 out of 1397 companies for Beneish M-Score. This places Everest Bank 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 Everest Bank and its competitors. Everest Bank's current Beneish M-Score is -2.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Everest Bank stock overvalued right now?
Based on GuruFocus' analysis, Everest Bank (XNEP:EBL) is currently considered Fairly Valued. The stock's GF Value™ is NPR718.27, compared to a current price of NPR704.00 — trading 2% below its estimated fair value. The current Beneish M-Score is -2.21. Everest Bank's overall GF Score™ is 68/100 with 3 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 Everest Bank (XNEP:EBL), the current Beneish M-Score is -2.21 as of Jul. 03, 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 Everest Bank (XNEP:EBL) Overvalued in 2026?

Based on GuruFocus' analysis, Everest Bank stock appears to be undervalued. The current stock price of NPR704.00 is trading 2% below its estimated GF Value™ of NPR718.27. GuruFocus considers Everest Bank to be Fairly Valued.

Key valuation signals for XNEP:EBL:

  • Beneish M-Score: -2.21
  • GF Value™: NPR718.27 vs. price of NPR704.00 (2% below fair value)
  • GF Score™: 68/100 with 3 warning signs

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

Everest Bank Business Description

Other Exchanges EBLCP.PFD:Nepal
Address EBL House, Lazimpat, P.O.Box 13384, Kathmandu, NPL
Everest Bank Ltd provides commercial banking services and is partnered with the Punjab National Bank of India. The bank offers services through the Any Branch Banking System. Its e-services include M-Banking, Virtual Credit Card, QR Code Payment Service, QR Payment Soundbox, E-Paicho, Foneloan Digital Lending Service, e-Statement, Electronic Cheque Deposit Machine, Missed Call Alerts, and Corporate Pay. The bank's services also include current accounts, savings accounts, fixed deposit accounts, recurring deposit accounts, retirement plan accounts, call accounts, retail and corporate loans, inward and outward remittances, and other related services.
68GF Score

Get the complete analysis for XNEP:EBL

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

NPR704.00
Price
NPR718.27
GF Value