Qualitas Real Estateome Fund (ASX:QRI) Beneish M-Score: 0.00 (As of Jul. 14, 2026)

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ASX:QRI Qualitas Real Estate Income Fund ASX:QRI
30 GF Score
Price A$1.55
! 5 Warning Signs
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What is Qualitas Real Estateome Fund Beneish M-Score?

Qualitas Real Estateome Fund ASX:QRI 30 Beneish M-Score is 0.00 as of Jul. 14, 2026. GuruFocus rates ASX:QRI with a GF Score™ of 30/100. The stock has 5 warning signs investors should review. Among 953 Asset Management companies, Qualitas Real Estateome Fund ranks worse than 104931.69% 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 Qualitas Real Estateome Fund's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of Qualitas Real Estateome Fund was 0.00. The lowest was 0.00. And the median was 0.00.

Qualitas Real Estateome Fund Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Qualitas Real Estateome 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.

Qualitas Real Estateome Fund Beneish M-Score Chart

Qualitas Real Estateome Fund Annual Data
Trend Jun18 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Beneish M-Score
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

Qualitas Real Estateome Fund Semi-Annual Data
Jun18 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 0.00 0.00 0.00 0.00 0.00

ASX:QRI vs BLK, BX, KKR: Beneish M-Score Comparison

For the Asset Management subindustry, Qualitas Real Estateome 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.

Qualitas Real Estateome Fund Beneish M-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Qualitas Real Estateome Fund's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Qualitas Real Estateome Fund's Beneish M-Score falls into.


ASX:QRI
30GF Score
Qualitas Real Estate Income Fund ASX:QRI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Qualitas Real Estateome 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 Qualitas Real Estateome 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$8.03 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$-12.34 Mil.
Total Current Assets was A$17.43 Mil.
Total Assets was A$983.24 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$0.00 Mil.
Total Current Liabilities was A$8.71 Mil.
Long-Term Debt & Capital Lease Obligation was A$0.00 Mil.
Net Income was A$66.87 Mil.
Gross Profit was A$79.11 Mil.
Cash Flow from Operations was A$-231.72 Mil.
 Total Receivables was A$6.52 Mil.
Revenue was A$0.00 Mil.
Gross Profit was A$-9.88 Mil.
Total Current Assets was A$19.18 Mil.
Total Assets was A$684.06 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$0.00 Mil.
Total Current Liabilities was A$7.38 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)
=(8.033 / 0) / (6.523 / 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)
=(-9.877 / 0) / (-12.34 / 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 - (17.43 + 0) / 983.244) / (1 - (19.179 + 0) / 684.062)
=0.982273 / 0.971963
=

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)
=(0 / 0) / (0 / 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 + 8.713) / 983.244) / ((0 + 7.378) / 684.062)
=0.008861 / 0.010786
=

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
=(66.868 - 79.114 - -231.717) / 983.244
=0.223211

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?
Qualitas Real Estateome Fund (ASX:QRI) has a Beneish M-Score of 0.00 as of Jul. 14, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Qualitas Real Estateome Fund and its competitors. According to the industry distribution chart, Qualitas Real Estateome Fund ranks #999999 out of 953 companies in the Asset Management industry.
Is Qualitas Real Estateome Fund's Beneish M-Score too high?
Qualitas Real Estateome Fund's current Beneish M-Score is 0.00. Based on the distribution chart, Qualitas Real Estateome Fund ranks #999999 out of 953 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Qualitas Real Estateome Fund has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Qualitas Real Estateome Fund's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Qualitas Real Estateome Fund ranks #999999 out of 953 companies for Beneish M-Score. This places Qualitas Real Estateome 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 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 Qualitas Real Estateome Fund and its competitors. Qualitas Real Estateome 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 Qualitas Real Estateome Fund stock overvalued right now?
Qualitas Real Estateome Fund (ASX:QRI) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Qualitas Real Estateome Fund's overall GF Score™ is 30/100 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 Qualitas Real Estateome Fund (ASX:QRI), the current Beneish M-Score is 0.00 as of Jul. 14, 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.

Qualitas Real Estateome Fund Business Description

Address 123 Pitt Street, Level 18, Angel Place, Sydney, NSW, AUS, 2000
Qualitas Real Estate Income Fund is a real estate investment management firm that seeks to invest the Trust's capital in a portfolio of investments that provide unitholders with exposure to real estate loans secured by first and second mortgages, predominantly located in Australia.
30GF Score

Get the complete analysis for ASX:QRI

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

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