CEV (Eaton Vance CA Muniome Trust) Beneish M-Score: 10.92 (As of Jul. 06, 2026)


CEV Eaton Vance CA Muni Income Trust CEV
30 GF Score
Price $10.55
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What is Eaton Vance CA Muniome Trust Beneish M-Score?

Eaton Vance CA Muniome Trust CEV -0.28% 30 Beneish M-Score is 10.92 as of Jul. 06, 2026. GuruFocus rates CEV with a GF Score™ of 30/100. The stock has 5 warning signs investors should review. Among 953 Asset Management companies, Eaton Vance CA Muniome Trust ranks worse than 95.8% 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.

Warning Sign:

Beneish M-Score 10.92 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Eaton Vance CA Muniome Trust's Beneish M-Score or its related term are showing as below:

CEV' s Beneish M-Score Range Over the Past 10 Years
Min: -2.34   Med: -1.33   Max: 10.92
Current: 10.92

During the past 13 years, the highest Beneish M-Score of Eaton Vance CA Muniome Trust was 10.92. The lowest was -2.34. And the median was -1.33.

CEV
30GF Score
Eaton Vance CA Muni Income Trust CEV
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Eaton Vance CA Muniome 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 Eaton Vance CA Muniome Trust 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 * 18.5571+0.528 * 1+0.404 * 1+0.892 * 0.0706+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 13.2229+4.679 * 0.059072-0.327 * 1.3133
=10.92

* 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 (Nov25) TTM:Last Year (Nov24) TTM:
Total Receivables was $1.43 Mil.
Revenue was $0.42 Mil.
Gross Profit was $0.42 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $119.33 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.40 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $37.67 Mil.
Net Income was $0.01 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $-7.04 Mil.
 Total Receivables was $1.09 Mil.
Revenue was $5.92 Mil.
Gross Profit was $5.92 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $109.95 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.42 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $26.43 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)
=(1.43 / 0.418) / (1.091 / 5.918)
=3.421053 / 0.184353
=18.5571

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)
=(5.918 / 5.918) / (0.418 / 0.418)
=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) / 119.329) / (1 - (0 + 0) / 109.946)
=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
=0.418 / 5.918
=0.0706

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)
=(0.396 / 0.418) / (0.424 / 5.918)
=0.947368 / 0.071646
=13.2229

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)
=((37.667 + 0) / 119.329) / ((26.425 + 0) / 109.946)
=0.315657 / 0.240345
=1.3133

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
=(0.005 - 0 - -7.044) / 119.329
=0.059072

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.

Eaton Vance CA Muniome Trust has a M-score of 10.92 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 10.92 mean?
Eaton Vance CA Muniome Trust (CEV) has a Beneish M-Score of 10.92 as of Jul. 06, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Eaton Vance CA Muniome Trust and its competitors. According to the industry distribution chart, Eaton Vance CA Muniome Trust ranks #913 out of 953 companies in the Asset Management industry, placing it in the top 95.8%.
Is Eaton Vance CA Muniome Trust's Beneish M-Score too high?
Eaton Vance CA Muniome Trust's current Beneish M-Score is 10.92. Based on the distribution chart, Eaton Vance CA Muniome Trust ranks #913 out of 953 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Eaton Vance CA Muniome Trust has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does Eaton Vance CA Muniome Trust's Beneish M-Score compare to EEA and NMS?
According to the Asset Management industry distribution chart, Eaton Vance CA Muniome Trust ranks #913 out of 953 companies for Beneish M-Score. This places Eaton Vance CA Muniome Trust 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 Eaton Vance CA Muniome Trust and its competitors. Eaton Vance CA Muniome Trust's current Beneish M-Score is 10.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Eaton Vance CA Muniome Trust stock overvalued right now?
Eaton Vance CA Muniome Trust (CEV) has a current Beneish M-Score of 10.92. The current Beneish M-Score is 10.92. Eaton Vance CA Muniome Trust'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 Eaton Vance CA Muniome Trust (CEV), the current Beneish M-Score is 10.92 as of Jul. 06, 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.

Eaton Vance CA Muniome Trust Business Description

Address One Post Office Square, Boston, MA, USA, 02109
Eaton Vance CA Muni Income Trust is a non-diversified closed-end investment company. The company's investment objective is to provide current income exempt from regular federal income tax and California state personal income taxes. It invests in municipal obligations, issued by the State of California or its political subdivisions, agencies, authorities and instrumentalities and also has some exposure to corporate bonds.
30GF Score

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