First Western Financial, Inc.
MYFW Financial Banks Regional
First Western Financial, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $186.4 million, up 3.34% from fiscal 2024. In the quarter to June 2026, revenue grew 10.1%, EPS grew 126.9%, free cash flow grew 216.5% and total debt fell 60.9%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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First Western Financial, Inc. (MYFW) Beneish M-score
First Western Financial, Inc.'s Beneish M-score for fiscal 2025 cannot be worked out: not meaningful for banks, insurers and REITs.
Beneish M-score, annual
Annual newest first
| Period | Beneish M-score | Change (points) |
|---|
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | — | — | n/a | — |
| Gross margin index | 0.93 | — | 0.49 | |
| Asset quality index | 1.10 | — | 0.44 | |
| Sales growth index | 1.03 | — | 0.92 | |
| Depreciation index | 0.87 | — | 0.10 | |
| SG&A index | 1.02 | — | −0.18 | |
| Total accruals to total assets | 0.00 | — | 0.02 | |
| Leverage index | 1.01 | — | −0.33 | |
| Beneish M-score | n/a — not meaningful for banks, insurers and REITs | — | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| OVLY Oak Valley Bancorp (CA) compare | — |
| ATLO Ames National Corporation compare | — |
| BPRN Princeton Bancorp, Inc. compare | — |
| ISBA Isabella Bank Corporation compare | — |
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| MYFW First Western Financial, Inc. | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI