BXMX (Nuveen S&P 500 Buy-Writeome Fund) Beneish M-Score: -1.99 (As of Jun. 30, 2026)


BXMX Nuveen S&P 500 Buy-Write Income Fund BXMX
34 GF Score
Price $15.03
GF Value $12.90
! 6 Warning Signs
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What is Nuveen S&P 500 Buy-Writeome Fund Beneish M-Score?

Nuveen S&P 500 Buy-Writeome Fund BXMX 34 Beneish M-Score is -1.99 as of Jun. 30, 2026. GuruFocus rates BXMX with a GF Score™ of 34/100 and a GF Value™ of $12.90. The stock has 6 warning signs investors should review.

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.

Good Sign:

Beneish M-Score -1.99 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Nuveen S&P 500 Buy-Writeome Fund's Beneish M-Score or its related term are showing as below:

BXMX' s Beneish M-Score Range Over the Past 10 Years
Min: -1.99   Med: -1.99   Max: -1.99
Current: -1.99

During the past 9 years, the highest Beneish M-Score of Nuveen S&P 500 Buy-Writeome Fund was -1.99. The lowest was -1.99. And the median was -1.99.

BXMX
34GF Score
Nuveen S&P 500 Buy-Write Income Fund BXMX
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Nuveen S&P 500 Buy-Writeome 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 Nuveen S&P 500 Buy-Writeome 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 * 1.0592+0.528 * 1+0.404 * 1+0.892 * 0.9057+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1759+4.679 * 0.121271-0.327 * 1.0435
=-1.99

* 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was $5.2 Mil.
Revenue was $209.9 Mil.
Gross Profit was $209.9 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $1,723.1 Mil.
Property, Plant and Equipment(Net PPE) was $0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.0 Mil.
Selling, General, & Admin. Expense(SGA) was $0.9 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $24.9 Mil.
Net Income was $209.0 Mil.
Gross Profit was $0.0 Mil.
Cash Flow from Operations was $0.0 Mil.
 Total Receivables was $5.4 Mil.
Revenue was $231.8 Mil.
Gross Profit was $231.8 Mil.
Total Current Assets was $0.0 Mil.
Total Assets was $1,613.0 Mil.
Property, Plant and Equipment(Net PPE) was $0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.0 Mil.
Selling, General, & Admin. Expense(SGA) was $0.9 Mil.
Total Current Liabilities was $0.0 Mil.
Long-Term Debt & Capital Lease Obligation was $22.3 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)
=(5.192 / 209.937) / (5.412 / 231.792)
=0.024731 / 0.023349
=1.0592

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)
=(231.792 / 231.792) / (209.937 / 209.937)
=1 / 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) / 1723.13) / (1 - (0 + 0) / 1612.966)
=1 / 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
=209.937 / 231.792
=0.9057

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))
= /
=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)
=(0.918 / 209.937) / (0.862 / 231.792)
=0.004373 / 0.003719
=1.1759

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)
=((24.905 + 0) / 1723.13) / ((22.34 + 0) / 1612.966)
=0.014453 / 0.01385
=1.0435

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
=(208.965 - 0 - 0) / 1723.13
=0.121271

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.

Nuveen S&P 500 Buy-Writeome Fund has a M-score of -1.99 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.99 mean?
Nuveen S&P 500 Buy-Writeome Fund (BXMX) has a Beneish M-Score of -1.99 as of Jun. 30, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Nuveen S&P 500 Buy-Writeome Fund and its competitors.
Is Nuveen S&P 500 Buy-Writeome Fund's Beneish M-Score too high?
Nuveen S&P 500 Buy-Writeome Fund's current Beneish M-Score is -1.99. Overall, Nuveen S&P 500 Buy-Writeome Fund has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does Nuveen S&P 500 Buy-Writeome Fund's Beneish M-Score compare to CET and GAM?
Nuveen S&P 500 Buy-Writeome Fund's Beneish M-Score of -1.99 can be compared against companies in the Asset Management 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 Nuveen S&P 500 Buy-Writeome Fund and its competitors. Nuveen S&P 500 Buy-Writeome Fund's current Beneish M-Score is -1.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nuveen S&P 500 Buy-Writeome Fund stock overvalued right now?
Nuveen S&P 500 Buy-Writeome Fund (BXMX) has a current Beneish M-Score of -1.99. The stock's GF Value™ is $12.90, compared to a current price of $15.03 — trading 16.5% above its estimated fair value. The current Beneish M-Score is -1.99. Nuveen S&P 500 Buy-Writeome Fund's overall GF Score™ is 34/100 with 6 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 Nuveen S&P 500 Buy-Writeome Fund (BXMX), the current Beneish M-Score is -1.99 as of Jun. 30, 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 Nuveen S&P 500 Buy-Writeome Fund (BXMX) Overvalued in 2026?

Based on GuruFocus' analysis, Nuveen S&P 500 Buy-Writeome Fund stock appears to be overvalued. The current stock price of $15.03 is trading 16.5% above its estimated GF Value™ of $12.90.

Key valuation signals for BXMX:

  • Beneish M-Score: -1.99
  • GF Value™: $12.90 vs. price of $15.03 (16.5% above fair value)
  • GF Score™: 34/100 with 6 warning signs

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

Nuveen S&P 500 Buy-Writeome Fund Business Description

Address 333 West Wacker Drive, Chicago, IL, USA, 60606
Nuveen S&P 500 Buy-Write Income Fund is a diversified closed-ended management investment company based in the United States. Its investment objective is to seek attractive total returns with less volatility. The fund invests its managed assets in a diversified equity portfolio that seeks to substantially replicate price movements of the S&P 500 Index. It also uses an index options of writing index call options in seeking to moderate the volatility of returns relative to an all-equity portfolio. Its revenue is generated mainly from interest and dividend income.
34GF Score

Get the complete analysis for BXMX

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

$15.03
Price
$12.90
GF Value