Clime Investment Management (ASX:CIW) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


ASX:CIW Clime Investment Management Ltd ASX:CIW
36 GF Score
Price A$0.30
GF Value A$0.35
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Clime Investment Management Beneish M-Score?

Clime Investment Management ASX:CIW 36 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates ASX:CIW with a GF Score™ of 36/100 and a GF Value™ of A$0.35 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 955 Asset Management companies, Clime Investment Management ranks worse than 104711.94% 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.

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

During the past 13 years, the highest Beneish M-Score of Clime Investment Management was -1.21. The lowest was -3.40. And the median was -2.64.

ASX:CIW
36GF Score
Clime Investment Management Ltd ASX:CIW
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Clime Investment Management 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 Clime Investment Management 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$4.18 Mil.
Revenue was A$13.60 Mil.
Gross Profit was A$13.60 Mil.
Total Current Assets was A$0.00 Mil.
Total Assets was A$25.06 Mil.
Property, Plant and Equipment(Net PPE) was A$0.12 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.21 Mil.
Selling, General, & Admin. Expense(SGA) was A$11.29 Mil.
Total Current Liabilities was A$0.00 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$0.51 Mil.
Gross Profit was A$0.00 Mil.
Cash Flow from Operations was A$-0.21 Mil.
 Total Receivables was A$2.73 Mil.
Revenue was A$11.19 Mil.
Gross Profit was A$11.19 Mil.
Total Current Assets was A$0.00 Mil.
Total Assets was A$27.66 Mil.
Property, Plant and Equipment(Net PPE) was A$0.53 Mil.
Depreciation, Depletion and Amortization(DDA) was A$1.36 Mil.
Selling, General, & Admin. Expense(SGA) was A$13.51 Mil.
Total Current Liabilities was A$0.00 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)
=(4.183 / 13.6) / (2.727 / 11.185)
=0.307574 / 0.243809
=

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)
=(11.185 / 11.185) / (13.6 / 13.6)
=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 + 0.117) / 25.059) / (1 - (0 + 0.528) / 27.663)
=0.995331 / 0.980913
=

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
=13.6 / 11.185
=

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))
=(1.358 / (1.358 + 0.528)) / (1.209 / (1.209 + 0.117))
=0.720042 / 0.911765
=

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)
=(11.293 / 13.6) / (13.513 / 11.185)
=0.830368 / 1.208136
=

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 + 0) / 25.059) / ((0 + 0) / 27.663)
=0 / 0
=

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
=(0.511 - 0 - -0.207) / 25.059
=0.028652

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?
Clime Investment Management (ASX:CIW) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Clime Investment Management and its competitors. According to the industry distribution chart, Clime Investment Management ranks #999999 out of 955 companies in the Asset Management industry.
Is Clime Investment Management's Beneish M-Score too high?
Clime Investment Management's current Beneish M-Score is 0.00. Based on the distribution chart, Clime Investment Management ranks #999999 out of 955 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Clime Investment Management has a GF Score™ of 36/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Clime Investment Management's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Clime Investment Management ranks #999999 out of 955 companies for Beneish M-Score. This places Clime Investment Management 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 Clime Investment Management and its competitors. Clime Investment Management'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 Clime Investment Management stock overvalued right now?
Based on GuruFocus' analysis, Clime Investment Management (ASX:CIW) is currently considered Modestly Undervalued. The stock's GF Value™ is A$0.35, compared to a current price of A$0.30 — trading 14.3% below its estimated fair value. The current Beneish M-Score is 0.00. Clime Investment Management's overall GF Score™ is 36/100 with 2 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 Clime Investment Management (ASX:CIW), the current Beneish M-Score is 0.00 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 Clime Investment Management (ASX:CIW) Overvalued in 2026?

Based on GuruFocus' analysis, Clime Investment Management stock appears to be undervalued. The current stock price of A$0.30 is trading 14.3% below its estimated GF Value™ of A$0.35. GuruFocus considers Clime Investment Management to be Modestly Undervalued.

Key valuation signals for ASX:CIW:

  • Beneish M-Score: 0.00
  • GF Value™: A$0.35 vs. price of A$0.30 (14.3% below fair value)
  • GF Score™: 36/100 with 2 warning signs

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

Clime Investment Management Business Description

Address 20 Hunter Street, Level 12, Sydney, NSW, AUS, 2000
Clime Investment Management Ltd is engaged in providing integrated wealth solutions to clients by operating under the Australian Securities and Investments Commission (ASIC) granted Australian Financial Services Licenses (AFSLs). The Group engages in various activities such as; providing private wealth advisory services; providing licensee services to financial advisers; offering online equity research and valuation tools to investors; and acting as investment manager for various funds. The company's reportable segments are; Fund Management; Advice; and Corporate Centre. A majority of its revenue is generated from the Investment Management segment. Geographically, the company operates only in Australia.
36GF 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$0.30
Price
A$0.35
GF Value