Esval (XSGO:ESVAL-A) Beneish M-Score: -2.57 (As of Jul. 05, 2026)

What is Esval Beneish M-Score?

Esval XSGO:ESVAL-A Beneish M-Score is -2.57 as of Jul. 05, 2026. The stock has 2 warning signs investors should review. Among 488 Utilities - Regulated companies, Esval ranks worse than 52.25% on this metric.

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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XSGO:ESVAL-A' s Beneish M-Score Range Over the Past 10 Years
Min: -5.85 Med: -2.72 Max: -2.3
Current: -2.57

During the past 13 years, the highest Beneish M-Score of Esval was -2.30. The lowest was -5.85. And the median was -2.72.

Esval Beneish M-Score Related Terms

Esval Beneish M-Score Historical Data

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The historical data trend for Esval's Beneish M-Score can be seen below:

* 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.

Esval Beneish M-Score Chart

Esval Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.63

-2.61

-2.87

-2.63

-2.76

Esval Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-2.82	-2.80	-2.70	-2.76	-2.57

XSGO:ESVAL-A vs AWK, WTRG, AWR: Beneish M-Score Comparison

For the Utilities - Regulated Water subindustry, Esval's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Esval Beneish M-Score vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Esval's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Esval's Beneish M-Score falls into.

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Esval 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 Esval for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.1798

0.528 * 0.9852

0.404 * 0.9644

0.892 * 1.0741

0.115 * 0.9679

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9601

4.679 * -0.064783

0.327 * 0.9916

-2.57

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was CLP107,892 Mil.
Revenue was 90076.602 + 81499.77 + 73810.638 + 68543.063 = CLP313,930 Mil.
Gross Profit was 72270.558 + 64798.351 + 58601.247 + 51046.661 = CLP246,717 Mil.
Total Current Assets was CLP171,299 Mil.
Total Assets was CLP1,466,922 Mil.
Property, Plant and Equipment(Net PPE) was CLP940,014 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP63,206 Mil.
Selling, General, & Admin. Expense(SGA) was CLP5,979 Mil.
Total Current Liabilities was CLP108,369 Mil.
Long-Term Debt & Capital Lease Obligation was CLP774,488 Mil.
Net Income was 17775.164 + 17617.585 + 7174.883 + 1068.712 = CLP43,636 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was 47843.425 + 35471.908 + 22599.554 + 32753.698 = CLP138,669 Mil.

Total Receivables was CLP85,144 Mil.
Revenue was 84397.273 + 74903.291 + 65986.595 + 66985.137 = CLP292,272 Mil.
Gross Profit was 66378.336 + 57405.954 + 50165.197 + 52347.371 = CLP226,297 Mil.
Total Current Assets was CLP129,516 Mil.
Total Assets was CLP1,385,861 Mil.
Property, Plant and Equipment(Net PPE) was CLP908,000 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP58,967 Mil.
Selling, General, & Admin. Expense(SGA) was CLP5,798 Mil.
Total Current Liabilities was CLP124,486 Mil.
Long-Term Debt & Capital Lease Obligation was CLP716,642 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)
	=	(107892.05 / 313930.073)	/	(85143.622 / 292272.296)
	=	0.343682	/	0.291316
	=	1.1798

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)
	=	(226296.858 / 292272.296)	/	(246716.817 / 313930.073)
	=	0.774267	/	0.785897
	=	0.9852

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 - (171298.92 + 940013.716) / 1466922.081)	/	(1 - (129515.907 + 907999.565) / 1385861.032)
	=	0.242419	/	0.251357
	=	0.9644

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
	=	313930.073	/	292272.296
	=	1.0741

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))
	=	(58967.292 / (58967.292 + 907999.565))	/	(63206.264 / (63206.264 + 940013.716))
	=	0.060982	/	0.063003
	=	0.9679

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)
	=	(5978.878 / 313930.073)	/	(5797.614 / 292272.296)
	=	0.019045	/	0.019836
	=	0.9601

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)
	=	((774488.048 + 108368.66) / 1466922.081)	/	((716641.58 + 124486.43) / 1385861.032)
	=	0.601843	/	0.606935
	=	0.9916

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
	=	(43636.344 - 0	-	138668.585)	/	1466922.081
	=	-0.064783

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.

Esval has a M-score of -2.57 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 -2.57 mean?

Esval (XSGO:ESVAL-A) has a Beneish M-Score of -2.57 as of Jul. 05, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Esval and its competitors. According to the industry distribution chart, Esval ranks #255 out of 488 companies in the Utilities - Regulated industry, placing it in the top 52.3%.

Is Esval's Beneish M-Score too high?

Esval's current Beneish M-Score is -2.57. Based on the distribution chart, Esval ranks #255 out of 488 companies in the Utilities - Regulated industry, which is below the industry midpoint.

How does Esval's Beneish M-Score compare to AWK and WTRG?

According to the Utilities - Regulated industry distribution chart, Esval ranks #255 out of 488 companies for Beneish M-Score. This places Esval 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 an Utilities - Regulated company?

A good Beneish M-Score depends on the Utilities - Regulated 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 Esval and its competitors. Esval's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Esval stock overvalued right now?

Esval (XSGO:ESVAL-A) has a current Beneish M-Score of -2.57. The current Beneish M-Score is -2.57. 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 Esval (XSGO:ESVAL-A), the current Beneish M-Score is -2.57 as of Jul. 05, 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.

Esval Business Description

Industry Utilities Utilities - Regulated

Comparable Companies XSGO:IAM XSGO:AGUAS-A AWK BSP:SBSP3 LSE:UU.LSE:SVT WTRG HKSE:00270 DFM:EMPOWER BSP:CSMG3 SHSE:600323 AWR LSE:PNN CWT HKSE:00371 SZSE:000598 SHSE:601158 HTO PHS:MYNLD SZSE:000685

Other Exchanges ESVAL-C:Chile

Address Cochrane No. 751, Valparaiso, CHL, 2361810

Website http://www.esval.cl

Esval SA is a Chile-based company engaged in producing and distributing drinking water. It also collects, treats, and disposes of wastewater, and provides other related services. The other services offered by the company include shutoff and replacement, fixed charges for taps, postal delivery, sales of drinking water in cisterns, treatment of excess sewage, etc. It manages operations through two operating segments, the Coquimbo Region segment and the Valparaso Region segment. The company derives its maximum revenue from the sale of drinking water.