Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios (BSP:MCCI11) Beneish M-Score: 0.00 (As of Jul. 14, 2026)

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BSP:MCCI11 Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios BSP:MCCI11
45 GF Score
Price R$93.97
GF Value R$118.19
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios Beneish M-Score?

Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios BSP:MCCI11 -1.19% 45 Beneish M-Score is 0.00 as of Jul. 14, 2026. GuruFocus rates BSP:MCCI11 with a GF Score™ of 45/100 and a GF Value™ of R$118.19 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 758 REITs companies, Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios ranks worse than 131925.99% 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 Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios was 0.00. The lowest was 0.00. And the median was 0.00.

BSP:MCCI11
45GF Score
Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios BSP:MCCI11
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios 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 Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios 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 R$0.0 Mil.
Revenue was R$180.9 Mil.
Gross Profit was R$180.9 Mil.
Total Current Assets was R$0.0 Mil.
Total Assets was R$1,601.8 Mil.
Property, Plant and Equipment(Net PPE) was R$0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was R$0.0 Mil.
Selling, General, & Admin. Expense(SGA) was R$0.9 Mil.
Total Current Liabilities was R$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was R$0.0 Mil.
Net Income was R$177.6 Mil.
Gross Profit was R$0.0 Mil.
Cash Flow from Operations was R$-6.0 Mil.
 Total Receivables was R$0.0 Mil.
Revenue was R$123.2 Mil.
Gross Profit was R$123.2 Mil.
Total Current Assets was R$0.0 Mil.
Total Assets was R$1,595.5 Mil.
Property, Plant and Equipment(Net PPE) was R$0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was R$0.0 Mil.
Selling, General, & Admin. Expense(SGA) was R$1.6 Mil.
Total Current Liabilities was R$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was R$0.0 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 / 180.879) / (0 / 123.159)
=0 / 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)
=(123.159 / 123.159) / (180.879 / 180.879)
=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) / 1601.78) / (1 - (0 + 0) / 1595.519)
=1 / 1
=

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
=180.879 / 123.159
=

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)
=(0.887 / 180.879) / (1.566 / 123.159)
=0.004904 / 0.012715
=

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) / 1601.78) / ((0 + 0) / 1595.519)
=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
=(177.614 - 0 - -6.017) / 1601.78
=0.114642

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?
Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios (BSP:MCCI11) 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 Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios and its competitors. According to the industry distribution chart, Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios ranks #999999 out of 758 companies in the REITs industry.
Is Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios' Beneish M-Score too high?
Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios' current Beneish M-Score is 0.00. Based on the distribution chart, Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios ranks #999999 out of 758 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios has a GF Score™ of 45/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios' Beneish M-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios ranks #999999 out of 758 companies for Beneish M-Score. This places Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios 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 Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios and its competitors. Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios'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 Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios stock overvalued right now?
Based on GuruFocus' analysis, Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios (BSP:MCCI11) is currently considered Modestly Undervalued. The stock's GF Value™ is R$118.19, compared to a current price of R$93.97 — trading 20.5% below its estimated fair value. The current Beneish M-Score is 0.00. Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios' overall GF Score™ is 45/100 with 3 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 Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios (BSP:MCCI11), 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.

Is Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios (BSP:MCCI11) Overvalued in 2026?

Based on GuruFocus' analysis, Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios stock appears to be undervalued. The current stock price of R$93.97 is trading 20.5% below its estimated GF Value™ of R$118.19. GuruFocus considers Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios to be Modestly Undervalued.

Key valuation signals for BSP:MCCI11:

  • Beneish M-Score: 0.00
  • GF Value™: R$118.19 vs. price of R$93.97 (20.5% below fair value)
  • GF Score™: 45/100 with 3 warning signs

No single metric tells the full story. See the BSP:MCCI11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios Business Description

Industry Real EstateREITs
Address PRAIA DE BOTAFOGO, 501 - 6th Floor, BOTAFOGO, RIO DE JANEIRO, RN, BRA, 22250040
Fundo DE Investimento Imobiliario Maua Capital Recebiveis Imobiliarios is a closed-end fund. The objective of the Class is to provide Quota Holders with appreciation of their quotas, through the application of at least 67% of their assets in Real Estate Receivables Certificates, provided that have been the subject of a public offering registered with the CVM or whose registration has been waived under current regulations, subject to the conditions set forth in the sub-items below, and, additionally, in the following Assets Mortgage Bonds, Real Estate Credit Notes, Secured Real Estate Notes, and other assets that are or may become permitted by applicable legislation or regulation.
45GF Score

Get the complete analysis for BSP:MCCI11

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

R$93.97
Price
R$118.19
GF Value