ACKDF (Auckland International Airport) Beneish M-Score: -2.41 (As of Jun. 24, 2026)

What is Auckland International Airport Beneish M-Score?

Auckland International Airport ACKDF -2.60% 82 Beneish M-Score is -2.41 as of Jun. 24, 2026. GuruFocus rates ACKDF with a GF Score™ of 82/100 and a GF Value™ of $5.03 (Fairly Valued). The stock has 5 warning signs investors should review. Among 966 Transportation companies, Auckland International Airport ranks worse than 64.39% 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 -2.41 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ACKDF' s Beneish M-Score Range Over the Past 10 Years
Min: -2.91 Med: -2.38 Max: -1.65
Current: -2.41

During the past 13 years, the highest Beneish M-Score of Auckland International Airport was -1.65. The lowest was -2.91. And the median was -2.38.

Auckland International Airport Beneish M-Score Related Terms

Auckland International Airport Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Auckland International Airport'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.

Auckland International Airport Beneish M-Score Chart

Auckland International Airport Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Beneish M-Score

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-2.91

-2.35

-1.65

-2.27

-2.41

Auckland International Airport Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial															0.00	-2.27	0.00	-2.41	0.00

ACKDF vs JOBY: Beneish M-Score Comparison

For the Airports & Air Services subindustry, Auckland International Airport'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.

Auckland International Airport Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Auckland International Airport's Beneish M-Score distribution charts can be found below:

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

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82GF Score

Auckland International Airport Ltd ACKDF

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Auckland International Airport 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 Auckland International Airport 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 * 1.0145

0.528 * 1

0.404 * 0.9522

0.892 * 1.0919

0.115 * 0.9388

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.99

4.679 * -0.015637

0.327 * 0.8156

-2.42

This Year (Jun25) TTM:

Last Year (Jun24) TTM:

Total Receivables was $47.2 Mil.
Revenue was $560.8 Mil.
Gross Profit was $560.8 Mil.
Total Current Assets was $397.3 Mil.
Total Assets was $8,486.8 Mil.
Property, Plant and Equipment(Net PPE) was $5,903.9 Mil.
Depreciation, Depletion and Amortization(DDA) was $121.1 Mil.
Selling, General, & Admin. Expense(SGA) was $58.0 Mil.
Total Current Liabilities was $383.9 Mil.
Long-Term Debt & Capital Lease Obligation was $1,271.5 Mil.
Net Income was $253.9 Mil.
Gross Profit was $100.4 Mil.
Cash Flow from Operations was $286.2 Mil.

Total Receivables was $42.6 Mil.
Revenue was $513.6 Mil.
Gross Profit was $513.6 Mil.
Total Current Assets was $186.1 Mil.
Total Assets was $7,622.0 Mil.
Property, Plant and Equipment(Net PPE) was $5,374.5 Mil.
Depreciation, Depletion and Amortization(DDA) was $103.4 Mil.
Selling, General, & Admin. Expense(SGA) was $53.7 Mil.
Total Current Liabilities was $347.4 Mil.
Long-Term Debt & Capital Lease Obligation was $1,475.3 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)
	=	(47.194 / 560.833)	/	(42.603 / 513.628)
	=	0.08415	/	0.082945
	=	1.0145

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)
	=	(513.628 / 513.628)	/	(560.833 / 560.833)
	=	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 - (397.345 + 5903.862) / 8486.783)	/	(1 - (186.126 + 5374.463) / 7621.977)
	=	0.257527	/	0.270453
	=	0.9522

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
	=	560.833	/	513.628
	=	1.0919

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))
	=	(103.376 / (103.376 + 5374.463))	/	(121.123 / (121.123 + 5903.862))
	=	0.018872	/	0.020103
	=	0.9388

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)
	=	(57.996 / 560.833)	/	(53.653 / 513.628)
	=	0.10341	/	0.104459
	=	0.99

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)
	=	((1271.454 + 383.887) / 8486.783)	/	((1475.322 + 347.391) / 7621.977)
	=	0.195049	/	0.239139
	=	0.8156

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
	=	(253.893 - 100.362	-	286.24)	/	8486.783
	=	-0.015637

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.

Auckland International Airport has a M-score of -2.42 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 -2.41 mean?

Auckland International Airport (ACKDF) has a Beneish M-Score of -2.41 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Auckland International Airport and its competitors. According to the industry distribution chart, Auckland International Airport ranks #622 out of 966 companies in the Transportation industry, placing it in the top 64.4%.

Is Auckland International Airport's Beneish M-Score too high?

Auckland International Airport's current Beneish M-Score is -2.41. Based on the distribution chart, Auckland International Airport ranks #622 out of 966 companies in the Transportation industry, which is below the industry midpoint. Overall, Auckland International Airport has a GF Score™ of 82/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Auckland International Airport's Beneish M-Score compare to JOBY?

According to the Transportation industry distribution chart, Auckland International Airport ranks #622 out of 966 companies for Beneish M-Score. This places Auckland International Airport 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 Transportation company?

A good Beneish M-Score depends on the Transportation 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 Auckland International Airport and its competitors. Auckland International Airport's current Beneish M-Score is -2.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Auckland International Airport stock overvalued right now?

Based on GuruFocus' analysis, Auckland International Airport (ACKDF) is currently considered Fairly Valued. The stock's GF Value™ is $5.03, compared to a current price of $4.88 — trading 3.1% below its estimated fair value. The current Beneish M-Score is -2.41. Auckland International Airport's overall GF Score™ is 82/100 with 5 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 Auckland International Airport (ACKDF), the current Beneish M-Score is -2.41 as of Jun. 24, 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 Auckland International Airport (ACKDF) Overvalued in 2026?

Based on GuruFocus' analysis, Auckland International Airport stock appears to be undervalued. The current stock price of $4.88 is trading 3.1% below its estimated GF Value™ of $5.03. GuruFocus considers Auckland International Airport to be Fairly Valued.

Key valuation signals for ACKDF:

Beneish M-Score: -2.41
GF Value™: $5.03 vs. price of $4.88 (3.1% below fair value)
GF Score™: 82/100 with 5 warning signs

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

Auckland International Airport Business Description

Industry Industrials Transportation

Comparable Companies NZSE:MFT NZSE:POT NZSE:FRW NZSE:AIR NZSE:NPH NZSE:SPN NZSE:MOV XMAD:AENA BKK:AOT MEX:GAPB XPAR:ADP JOBY BOM:532754 XSWX:FHZN SHSE:600009 MEX:ASURB XTER:FRA OCSE:KBHL HSTC:ACV MEX:OMAB

Other Exchanges AUKNY:USA AIA:New Zealand BZTA:Germany AIA:Australia

Address 4 Leonard Isitt Drive, Auckland Airport Business District, Manukau, NTL, NZL, 2022

Website https://www.aucklandairport.co.nz

Auckland Airport is New Zealand's largest airport, handling about 75% of the country's international arrivals and departures. It owns over 1,500 hectares of land, and hosts unregulated ancillary commercial services, including retail and duty-free, car parking, hotels, warehouses, and offices. Substantial development opportunities are set to materially expand capacity over the next decade. The airport also has a 25% stake in the small, but fast-growing Queenstown airport on New Zealand's South Island.

82GF Score

Get the complete analysis for ACKDF

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

$4.88

Price

$5.03

GF Value

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