Aims Property Securities Fund (ASX:APW) Beneish M-Score: 0.00 (As of Jul. 29, 2026)

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ASX:APW Aims Property Securities Fund ASX:APW
37 GF Score
Price A$3.96
! 1 Warning Sign
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What is Aims Property Securities Fund Beneish M-Score?

Aims Property Securities Fund ASX:APW 37 Beneish M-Score is 0.00 as of Jul. 29, 2026. GuruFocus rates ASX:APW with a GF Score™ of 37/100. The stock has 1 warning sign investors should review. Among 749 REITs companies, Aims Property Securities Fund ranks worse than 133511.21% 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.

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

During the past 13 years, the highest Beneish M-Score of Aims Property Securities Fund was 0.00. The lowest was 0.00. And the median was 0.00.

Aims Property Securities Fund Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Aims Property Securities Fund'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.

Aims Property Securities Fund Beneish M-Score Chart

Aims Property Securities Fund Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Aims Property Securities Fund 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

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

For the REIT - Diversified subindustry, Aims Property Securities Fund'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.

Aims Property Securities Fund Beneish M-Score vs REITs Industry

For the REITs industry and Real Estate sector, Aims Property Securities Fund's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Aims Property Securities Fund's Beneish M-Score falls into.


ASX:APW
37GF Score
Aims Property Securities Fund ASX:APW
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Aims Property Securities Fund 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 Aims Property Securities Fund 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was A$0.02 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$2.92 Mil.
Total Assets was A$218.64 Mil.
Property, Plant and Equipment(Net PPE) was A$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.95 Mil.
Total Current Liabilities was A$1.05 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$52.58 Mil.
Gross Profit was A$54.56 Mil.
Cash Flow from Operations was A$-0.10 Mil.
 Total Receivables was A$0.39 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$0.00 Mil.
Total Current Assets was A$3.39 Mil.
Total Assets was A$165.18 Mil.
Property, Plant and Equipment(Net PPE) was A$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was A$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was A$1.08 Mil.
Total Current Liabilities was A$0.16 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 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)
=(0.016 / 0) / (0.393 / 0)
= /
=

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)
=(0 / 0) / (0 / 0)
= /
=

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 - (2.917 + 0) / 218.644) / (1 - (3.389 + 0) / 165.181)
=0.986659 / 0.979483
=

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
=0 / 0
=

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))
=(0 / (0 + 0)) / (0 / (0 + 0))
= /
=

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)
=(1.948 / 0) / (1.08 / 0)
= /
=

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)
=((0 + 1.046) / 218.644) / ((0 + 0.164) / 165.181)
=0.004784 / 0.000993
=

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
=(52.581 - 54.559 - -0.095) / 218.644
=-0.008612

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Aims Property Securities Fund (ASX:APW) has a Beneish M-Score of 0.00 as of Jul. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aims Property Securities Fund and its competitors. According to the industry distribution chart, Aims Property Securities Fund ranks #999999 out of 749 companies in the REITs industry.
Is Aims Property Securities Fund's Beneish M-Score too high?
Aims Property Securities Fund's current Beneish M-Score is 0.00. Based on the distribution chart, Aims Property Securities Fund ranks #999999 out of 749 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Aims Property Securities Fund has a GF Score™ of 37/100, reflecting its overall financial health beyond just this single metric.
How does Aims Property Securities Fund's Beneish M-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Aims Property Securities Fund ranks #999999 out of 749 companies for Beneish M-Score. This places Aims Property Securities Fund 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 Aims Property Securities Fund and its competitors. Aims Property Securities Fund's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aims Property Securities Fund stock overvalued right now?
Aims Property Securities Fund (ASX:APW) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Aims Property Securities Fund's overall GF Score™ is 37/100 with 1 warning sign 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 Aims Property Securities Fund (ASX:APW), the current Beneish M-Score is 0.00 as of Jul. 29, 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.

Aims Property Securities Fund Business Description

Industry Real EstateREITs
Address 259 George Street, Level 41, Sydney, NSW, AUS, 2000
Aims Property Securities Fund is an Australia-based diversified real estate securities fund listed on the Australian Securities Exchange (ASX). It invests prominently in listed and unlisted property trusts, listed property-related companies, and mortgage funds across various property sectors and geographic locations. The fund aims to provide investors with regular quarterly income and long-term capital growth potential. It maintains a portfolio managed by multiple fund managers and follows prudent investment principles emphasizing conservative gearing and liquidity. Revenue is generated through income distributions and capital appreciation of its property investments.
37GF Score

Get the complete analysis for ASX:APW

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

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