Fundo Invest Imobiliario Rio Bravo Rendaorativa (BSP:RCRB11) Beneish M-Score: 0.00 (As of Jun. 25, 2026)


BSP:RCRB11 Fundo Invest Imobiliario Rio Bravo Renda Corporativa BSP:RCRB11
49 GF Score
Price R$136.88
GF Value R$76.76
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Fundo Invest Imobiliario Rio Bravo Rendaorativa Beneish M-Score?

Fundo Invest Imobiliario Rio Bravo Rendaorativa BSP:RCRB11 -0.12% 49 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates BSP:RCRB11 with a GF Score™ of 49/100 and a GF Value™ of R$76.76 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 765 REITs companies, Fundo Invest Imobiliario Rio Bravo Rendaorativa ranks worse than 130718.82% 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 Invest Imobiliario Rio Bravo Rendaorativa's Beneish M-Score or its related term are showing as below:

During the past 8 years, the highest Beneish M-Score of Fundo Invest Imobiliario Rio Bravo Rendaorativa was 0.00. The lowest was 0.00. And the median was 0.00.

BSP:RCRB11
49GF Score
Fundo Invest Imobiliario Rio Bravo Renda Corporativa BSP:RCRB11
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Fundo Invest Imobiliario Rio Bravo Rendaorativa 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 Invest Imobiliario Rio Bravo Rendaorativa 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 (Dec24) TTM:Last Year (Dec23) TTM:
Total Receivables was R$0.00 Mil.
Revenue was R$62.67 Mil.
Gross Profit was R$62.67 Mil.
Total Current Assets was R$0.00 Mil.
Total Assets was R$851.40 Mil.
Property, Plant and Equipment(Net PPE) was R$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was R$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was R$1.28 Mil.
Total Current Liabilities was R$0.00 Mil.
Long-Term Debt & Capital Lease Obligation was R$0.00 Mil.
Net Income was R$26.90 Mil.
Gross Profit was R$0.00 Mil.
Cash Flow from Operations was R$40.68 Mil.
 Total Receivables was R$0.00 Mil.
Revenue was R$57.08 Mil.
Gross Profit was R$57.08 Mil.
Total Current Assets was R$0.00 Mil.
Total Assets was R$869.78 Mil.
Property, Plant and Equipment(Net PPE) was R$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was R$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was R$1.05 Mil.
Total Current Liabilities was R$0.00 Mil.
Long-Term Debt & Capital Lease Obligation was R$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 / 62.674) / (0 / 57.083)
=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)
=(57.083 / 57.083) / (62.674 / 62.674)
=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) / 851.403) / (1 - (0 + 0) / 869.781)
=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
=62.674 / 57.083
=

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)
=(1.283 / 62.674) / (1.047 / 57.083)
=0.020471 / 0.018342
=

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) / 851.403) / ((0 + 0) / 869.781)
=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
=(26.898 - 0 - 40.684) / 851.403
=-0.016192

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 Invest Imobiliario Rio Bravo Rendaorativa (BSP:RCRB11) 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 Fundo Invest Imobiliario Rio Bravo Rendaorativa and its competitors. According to the industry distribution chart, Fundo Invest Imobiliario Rio Bravo Rendaorativa ranks #999999 out of 765 companies in the REITs industry.
Is Fundo Invest Imobiliario Rio Bravo Rendaorativa's Beneish M-Score too high?
Fundo Invest Imobiliario Rio Bravo Rendaorativa's current Beneish M-Score is 0.00. Based on the distribution chart, Fundo Invest Imobiliario Rio Bravo Rendaorativa ranks #999999 out of 765 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Fundo Invest Imobiliario Rio Bravo Rendaorativa has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fundo Invest Imobiliario Rio Bravo Rendaorativa's Beneish M-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Fundo Invest Imobiliario Rio Bravo Rendaorativa ranks #999999 out of 765 companies for Beneish M-Score. This places Fundo Invest Imobiliario Rio Bravo Rendaorativa 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 Invest Imobiliario Rio Bravo Rendaorativa and its competitors. Fundo Invest Imobiliario Rio Bravo Rendaorativa'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 Invest Imobiliario Rio Bravo Rendaorativa stock overvalued right now?
Based on GuruFocus' analysis, Fundo Invest Imobiliario Rio Bravo Rendaorativa (BSP:RCRB11) is currently considered Significantly Overvalued. The stock's GF Value™ is R$76.76, compared to a current price of R$136.88 — trading 78.3% above its estimated fair value. The current Beneish M-Score is 0.00. Fundo Invest Imobiliario Rio Bravo Rendaorativa's overall GF Score™ is 49/100 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 Fundo Invest Imobiliario Rio Bravo Rendaorativa (BSP:RCRB11), 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 Fundo Invest Imobiliario Rio Bravo Rendaorativa (BSP:RCRB11) Overvalued in 2026?

Based on GuruFocus' analysis, Fundo Invest Imobiliario Rio Bravo Rendaorativa stock appears to be overvalued. The current stock price of R$136.88 is trading 78.3% above its estimated GF Value™ of R$76.76. GuruFocus considers Fundo Invest Imobiliario Rio Bravo Rendaorativa to be Significantly Overvalued.

Key valuation signals for BSP:RCRB11:

  • Beneish M-Score: 0.00
  • GF Value™: R$76.76 vs. price of R$136.88 (78.3% above fair value)
  • GF Score™: 49/100 with 5 warning signs

No single metric tells the full story. See the BSP:RCRB11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Fundo Invest Imobiliario Rio Bravo Rendaorativa Business Description

Industry Real EstateREITs
Address Avenida Chedid Jafet 222, Bloco B - 3rd Floor, CJ 32, Vila Olimpia, Sao Paulo, SP, BRA, 4551065
Fundo Invest Imobiliario Rio Bravo Renda Corporativa is a closed-end fund. The fund's objective is to make long-term real estate investments through the acquisition, leasing, and eventual sale of performing commercial properties, notably corporate office spaces and commercial units in the main national urban centers, and parking spaces related to the properties it owns, according to rules defined in its regulations.
49GF Score

Get the complete analysis for BSP:RCRB11

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

R$136.88
Price
R$76.76
GF Value