Abacus Group (ASX:ABG) Beneish M-Score: -2.18 (As of Jun. 25, 2026)

What is Abacus Group Beneish M-Score?

Abacus Group ASX:ABG 67 Beneish M-Score is -2.18 as of Jun. 25, 2026. GuruFocus rates ASX:ABG with a GF Score™ of 67/100 and a GF Value™ of A$1.33 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 765 REITs companies, Abacus Group ranks worse than 72.94% 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 -2.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ASX:ABG' s Beneish M-Score Range Over the Past 10 Years
Min: -2.89 Med: -2.27 Max: 5.56
Current: -2.18

During the past 13 years, the highest Beneish M-Score of Abacus Group was 5.56. The lowest was -2.89. And the median was -2.27.

Abacus Group Beneish M-Score Related Terms

Abacus Group Beneish M-Score Historical Data

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The historical data trend for Abacus Group'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.

Abacus Group Beneish M-Score Chart

Abacus Group Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

Beneish M-Score

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-2.72

-2.35

-1.99

-2.46

-2.18

Abacus Group 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	-2.46	0.00	-2.18	0.00

ASX:ABG vs VICI, WPC, BNL: Beneish M-Score Comparison

For the REIT - Diversified subindustry, Abacus Group'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.

Abacus Group Beneish M-Score vs REITs Industry

For the REITs industry and Real Estate sector, Abacus Group's Beneish M-Score distribution charts can be found below:

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

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67GF Score

Abacus Group ASX:ABG

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

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Abacus Group 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 Abacus Group 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 * 1.3958

0.528 * 0.9854

0.404 * 0.965

0.892 * 1.0571

0.115 * 0.9692

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9696

4.679 * -0.018139

0.327 * 1.0177

-2.18

This Year (Jun25) TTM:

Last Year (Jun24) TTM:

Total Receivables was A$42.1 Mil.
Revenue was A$152.6 Mil.
Gross Profit was A$108.1 Mil.
Total Current Assets was A$267.2 Mil.
Total Assets was A$2,588.4 Mil.
Property, Plant and Equipment(Net PPE) was A$0.2 Mil.
Depreciation, Depletion and Amortization(DDA) was A$4.5 Mil.
Selling, General, & Admin. Expense(SGA) was A$35.5 Mil.
Total Current Liabilities was A$68.4 Mil.
Long-Term Debt & Capital Lease Obligation was A$942.1 Mil.
Net Income was A$26.9 Mil.
Gross Profit was A$8.4 Mil.
Cash Flow from Operations was A$65.4 Mil.

Total Receivables was A$28.5 Mil.
Revenue was A$144.4 Mil.
Gross Profit was A$100.8 Mil.
Total Current Assets was A$185.6 Mil.
Total Assets was A$2,626.3 Mil.
Property, Plant and Equipment(Net PPE) was A$0.3 Mil.
Depreciation, Depletion and Amortization(DDA) was A$4.1 Mil.
Selling, General, & Admin. Expense(SGA) was A$34.7 Mil.
Total Current Liabilities was A$68.1 Mil.
Long-Term Debt & Capital Lease Obligation was A$939.3 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)
	=	(42.057 / 152.621)	/	(28.502 / 144.373)
	=	0.275565	/	0.197419
	=	1.3958

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)
	=	(100.785 / 144.373)	/	(108.124 / 152.621)
	=	0.698088	/	0.708448
	=	0.9854

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 - (267.236 + 0.168) / 2588.389)	/	(1 - (185.624 + 0.288) / 2626.336)
	=	0.896691	/	0.929212
	=	0.965

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
	=	152.621	/	144.373
	=	1.0571

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))
	=	(4.091 / (4.091 + 0.288))	/	(4.491 / (4.491 + 0.168))
	=	0.934232	/	0.963941
	=	0.9692

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)
	=	(35.532 / 152.621)	/	(34.665 / 144.373)
	=	0.232812	/	0.240107
	=	0.9696

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)
	=	((942.099 + 68.359) / 2588.389)	/	((939.327 + 68.145) / 2626.336)
	=	0.390381	/	0.383604
	=	1.0177

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
	=	(26.91 - 8.443	-	65.417)	/	2588.389
	=	-0.018139

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.

Abacus Group has a M-score of -2.18 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 -2.18 mean?

Abacus Group (ASX:ABG) has a Beneish M-Score of -2.18 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Abacus Group and its competitors. According to the industry distribution chart, Abacus Group ranks #558 out of 765 companies in the REITs industry, placing it in the top 72.9%.

Is Abacus Group's Beneish M-Score too high?

Abacus Group's current Beneish M-Score is -2.18. Based on the distribution chart, Abacus Group ranks #558 out of 765 companies in the REITs industry, which is below the industry midpoint. Overall, Abacus Group has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Abacus Group's Beneish M-Score compare to VICI and WPC?

According to the REITs industry distribution chart, Abacus Group ranks #558 out of 765 companies for Beneish M-Score. This places Abacus Group 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 REITs company?

A good Beneish M-Score depends on the REITs 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 Abacus Group and its competitors. Abacus Group's current Beneish M-Score is -2.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Abacus Group stock overvalued right now?

Based on GuruFocus' analysis, Abacus Group (ASX:ABG) is currently considered Modestly Undervalued. The stock's GF Value™ is A$1.33, compared to a current price of A$1.02 — trading 23.3% below its estimated fair value. The current Beneish M-Score is -2.18. Abacus Group's overall GF Score™ is 67/100 with 8 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 Abacus Group (ASX:ABG), the current Beneish M-Score is -2.18 as of Jun. 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 Abacus Group (ASX:ABG) Overvalued in 2026?

Based on GuruFocus' analysis, Abacus Group stock appears to be undervalued. The current stock price of A$1.02 is trading 23.3% below its estimated GF Value™ of A$1.33. GuruFocus considers Abacus Group to be Modestly Undervalued.

Key valuation signals for ASX:ABG:

Beneish M-Score: -2.18
GF Value™: A$1.33 vs. price of A$1.02 (23.3% below fair value)
GF Score™: 67/100 with 8 warning signs

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

Abacus Group Business Description

Industry Real Estate REITs

Comparable Companies ASX:HMC ASX:CNI ASX:APW ASX:TOT ASX:CLW ASX:GMG VICI WPC BSP:HSRE11 ASX:SGP XPAR:COV ASX:CHC ASX:GPT MEX:FUNO11 LSE:LAND LSE:BLND ASX:MGR TSE:8972 XKLS:5235SS BNL

Address 77 Castlereagh Street, Level 13, Sydney, NSW, AUS, 2000

Website https://www.abacusproperty.com.au

Abacus Group is the owner and manager of real estate assets in Australia. The property portfolio mainly comprises modern office towers in city centers and suburban locations, with several small retail assets. Rents collected from these property holdings are the major income source for Abacus. The group also has considerable exposure to the self-storage sector through the publicly listed Storage King. Abacus has been the external manager of the self-storage REIT and owns a 20% stake in it since Storage King was spun out of Abacus and floated on the stock exchange in 2023. Following an agreement in May 2026, Storage King will internalize management from fiscal 2027.

67GF Score

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

A$1.02

Price

A$1.33

GF Value

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