Camden Property Trust (BSP:C2PT34) Beneish M-Score : -3.04 (As of Apr. 18, 2025)

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What is Camden Property Trust Beneish M-Score?

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 -3.04 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

BSP:C2PT34' s Beneish M-Score Range Over the Past 10 Years
Min: -3.04 Med: -2.8 Max: -2.44
Current: -3.04

During the past 13 years, the highest Beneish M-Score of Camden Property Trust was -2.44. The lowest was -3.04. And the median was -2.80.

Camden Property Trust Beneish M-Score Historical Data

The historical data trend for Camden Property Trust'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.

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Camden Property Trust Beneish M-Score Chart

Camden Property Trust Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.87

-2.80

-2.91

-2.87

-3.04

Camden Property Trust Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-2.87	-2.91	-2.96	-3.05	-3.04

Competitive Comparison of Camden Property Trust's Beneish M-Score

For the REIT - Residential subindustry, Camden Property Trust'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.

Camden Property Trust's Beneish M-Score Distribution in the REITs Industry

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

* The bar in red indicates where Camden Property Trust's Beneish M-Score falls into.

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Camden Property Trust 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 Camden Property Trust 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 * 0.8492

0.528 * 1.015

0.404 * 1.026

0.892 * 1.1075

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1594

4.679 * -0.062578

0.327 * 0.9956

-2.82

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was R$55 Mil.
Revenue was 2356.932 + 2144.413 + 2085.229 + 1907.966 = R$8,495 Mil.
Gross Profit was 1454.326 + 1292.7 + 1281.569 + 1169.053 = R$5,198 Mil.
Total Current Assets was R$251 Mil.
Total Assets was R$54,007 Mil.
Property, Plant and Equipment(Net PPE) was R$0 Mil.
Depreciation, Depletion and Amortization(DDA) was R$3,202 Mil.
Selling, General, & Admin. Expense(SGA) was R$399 Mil.
Total Current Liabilities was R$2,485 Mil.
Long-Term Debt & Capital Lease Obligation was R$21,266 Mil.
Net Income was 248.256 + -23.281 + 231.155 + 417.75 = R$874 Mil.
Non Operating Income was 0 + -226.983 + 0 + 213.559 = R$-13 Mil.
Cash Flow from Operations was 929.536 + 1448.467 + 1212.244 + 676.705 = R$4,267 Mil.

Total Receivables was R$58 Mil.
Revenue was 1899.099 + 1929.935 + 1871.096 + 1969.7 = R$7,670 Mil.
Gross Profit was 1184.982 + 1196.835 + 1158.729 + 1222.833 = R$4,763 Mil.
Total Current Assets was R$1,372 Mil.
Total Assets was R$45,978 Mil.
Property, Plant and Equipment(Net PPE) was R$0 Mil.
Depreciation, Depletion and Amortization(DDA) was R$2,859 Mil.
Selling, General, & Admin. Expense(SGA) was R$311 Mil.
Total Current Liabilities was R$2,105 Mil.
Long-Term Debt & Capital Lease Obligation was R$18,205 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)
	=	(54.854 / 8494.54)	/	(58.332 / 7669.83)
	=	0.006458	/	0.007605
	=	0.8492

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)
	=	(4763.379 / 7669.83)	/	(5197.648 / 8494.54)
	=	0.621054	/	0.611881
	=	1.015

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 - (251.361 + 0) / 54006.931)	/	(1 - (1371.709 + 0) / 45978.435)
	=	0.995346	/	0.970166
	=	1.026

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
	=	8494.54	/	7669.83
	=	1.1075

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))
	=	(2859.476 / (2859.476 + 0))	/	(3202.077 / (3202.077 + 0))
	=	1	/	1
	=	1

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)
	=	(399.191 / 8494.54)	/	(310.881 / 7669.83)
	=	0.046994	/	0.040533
	=	1.1594

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)
	=	((21265.591 + 2484.675) / 54006.931)	/	((18204.893 + 2104.675) / 45978.435)
	=	0.439763	/	0.441719
	=	0.9956

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
	=	(873.88 - -13.424	-	4266.952)	/	54006.931
	=	-0.062578

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.

Camden Property Trust has a M-score of -2.82 suggests that the company is unlikely to be a manipulator.

Camden Property Trust Beneish M-Score Related Terms

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Camden Property Trust Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Camden Property Trust (BSP:C2PT34) » Definitions » Beneish M-Score

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CPT:USA CAL:Germany CAL:Germany

Address

11 Greenway Plaza, Suite 2400, Houston, TX, USA, 77046

Website

https://www.camdenliving.com

Camden Property Trust is a real estate investment trust engaged in the ownership, management, development, reposition, redevelopment, acquisition, and construction of multifamily apartment communities. It owned interests in, operated, or developing nearly 177 multifamily properties comprised of nearly 59,996 apartment homes across the United States.

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