Banco Itau Chile (XSGO:ITAUCL) Beneish M-Score: -2.47 (As of Aug. 25, 2026)

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XSGO:ITAUCL Banco Itau Chile XSGO:ITAUCL
53 GF Score
Price CLP20,678.00
GF Value CLP14,968.86
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Banco Itau Chile Beneish M-Score?

Banco Itau Chile XSGO:ITAUCL 53 Beneish M-Score is -2.47 as of Aug. 25, 2026. GuruFocus rates XSGO:ITAUCL with a GF Score™ of 53/100 and a GF Value™ of CLP14,968.86 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,394 Banks companies, Banco Itau Chile ranks better than 63.99% 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 -2.47 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XSGO:ITAUCL' s Beneish M-Score Range Over the Past 10 Years
Min: -3.66   Med: -2.44   Max: -1.23
Current: -2.47

During the past 13 years, the highest Beneish M-Score of Banco Itau Chile was -1.23. The lowest was -3.66. And the median was -2.44.

XSGO:ITAUCL
53GF Score
Banco Itau Chile XSGO:ITAUCL
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Banco Itau Chile 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 Banco Itau Chile 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 * 1.0009+0.892 * 1.0963+0.115 * 0.9314
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9135+4.679 * -0.024198-0.327 * 0.9046
=-2.47

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was CLP0 Mil.
Revenue was 407389 + 394436 + 367018 + 445873 = CLP1,614,716 Mil.
Gross Profit was 407389 + 394436 + 367018 + 445873 = CLP1,614,716 Mil.
Total Current Assets was CLP0 Mil.
Total Assets was CLP48,684,304 Mil.
Property, Plant and Equipment(Net PPE) was CLP175,415 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP109,694 Mil.
Selling, General, & Admin. Expense(SGA) was CLP243,262 Mil.
Total Current Liabilities was CLP0 Mil.
Long-Term Debt & Capital Lease Obligation was CLP11,223,174 Mil.
Net Income was 110398 + 69240 + 108648 + 113214 = CLP401,500 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was 146007 + -217176 + 1230607 + 420137 = CLP1,579,575 Mil.
 Total Receivables was CLP0 Mil.
Revenue was 369159 + 347279 + 476726 + 279681 = CLP1,472,845 Mil.
Gross Profit was 369159 + 347279 + 476726 + 279681 = CLP1,472,845 Mil.
Total Current Assets was CLP0 Mil.
Total Assets was CLP41,369,806 Mil.
Property, Plant and Equipment(Net PPE) was CLP187,023 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP104,443 Mil.
Selling, General, & Admin. Expense(SGA) was CLP242,903 Mil.
Total Current Liabilities was CLP0 Mil.
Long-Term Debt & Capital Lease Obligation was CLP10,543,151 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 / 1614716) / (0 / 1472845)
=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)
=(1472845 / 1472845) / (1614716 / 1614716)
=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 + 175415) / 48684304) / (1 - (0 + 187023) / 41369806)
=0.996397 / 0.995479
=1.0009

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
=1614716 / 1472845
=1.0963

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))
=(104443 / (104443 + 187023)) / (109694 / (109694 + 175415))
=0.358337 / 0.384744
=0.9314

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)
=(243262 / 1614716) / (242903 / 1472845)
=0.150653 / 0.164921
=0.9135

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)
=((11223174 + 0) / 48684304) / ((10543151 + 0) / 41369806)
=0.23053 / 0.254851
=0.9046

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
=(401500 - 0 - 1579575) / 48684304
=-0.024198

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.

Banco Itau Chile has a M-score of -2.47 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 -2.47 mean?
Banco Itau Chile (XSGO:ITAUCL) has a Beneish M-Score of -2.47 as of Aug. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Banco Itau Chile and its competitors. According to the industry distribution chart, Banco Itau Chile ranks #502 out of 1394 companies in the Banks industry, placing it in the top 36%.
Is Banco Itau Chile's Beneish M-Score too high?
Banco Itau Chile's current Beneish M-Score is -2.47. Based on the distribution chart, Banco Itau Chile ranks #502 out of 1394 companies in the Banks industry, which is above the industry midpoint. Overall, Banco Itau Chile has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Banco Itau Chile's Beneish M-Score compare to PNC and USB?
According to the Banks industry distribution chart, Banco Itau Chile ranks #502 out of 1394 companies for Beneish M-Score. This puts Banco Itau Chile in the upper 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 Banco Itau Chile and its competitors. Banco Itau Chile's current Beneish M-Score is -2.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Banco Itau Chile stock overvalued right now?
Based on GuruFocus' analysis, Banco Itau Chile (XSGO:ITAUCL) is currently considered Significantly Overvalued. The stock's GF Value™ is CLP14,968.86, compared to a current price of CLP20,678.00 — trading 38.1% above its estimated fair value. The current Beneish M-Score is -2.47. Banco Itau Chile's overall GF Score™ is 53/100 with 4 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 Banco Itau Chile (XSGO:ITAUCL), the current Beneish M-Score is -2.47 as of Aug. 25, 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 Banco Itau Chile (XSGO:ITAUCL) Overvalued in 2026?

Based on GuruFocus' analysis, Banco Itau Chile stock appears to be overvalued. The current stock price of CLP20,678.00 is trading 38.1% above its estimated GF Value™ of CLP14,968.86. GuruFocus considers Banco Itau Chile to be Significantly Overvalued.

Key valuation signals for XSGO:ITAUCL:

  • Beneish M-Score: -2.47
  • GF Value™: CLP14,968.86 vs. price of CLP20,678.00 (38.1% above fair value)
  • GF Score™: 53/100 with 4 warning signs

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

Banco Itau Chile Business Description

Address 5537 Avenue Presidente Riesco, Las Condes, Santiago, CHL, Casilla 80-D
Banco Itau Chile is a commercial bank from Chile. The bank operates in Colombia, Panama, Peru, the United States, Spain and other regions. CorpBanca offers commercial and retail banking products, mainly to individuals and midsize and large corporations. The product portfolio consists of treasury and financial advisory, securities brokerage, asset management, insurance brokerage, investment banking, payment products, legal services, cash management, international trade, mortgages, and consumer credit. Its operating segments are; Chile, which derives maximum revenue and includes operations of the New York branch, and Colombia, which includes Panama.
53GF Score

Get the complete analysis for XSGO:ITAUCL

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

CLP20,678.00
Price
CLP14,968.86
GF Value