Airesis (CHIX:AIREZ) Beneish M-Score: 0.00 (As of Jun. 24, 2026)


CHIX:AIREZ Airesis SA CHIX:AIREZ
4 GF Score
Price CHF0.06
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What is Airesis Beneish M-Score?

Airesis CHIX:AIREZ 4 Beneish M-Score is 0.00 as of Jun. 24, 2026. GuruFocus rates CHIX:AIREZ with a GF Score™ of 4/100.

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 Airesis's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Airesis was 0.00. The lowest was 0.00. And the median was 0.00.

Airesis Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Airesis'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.

Airesis Beneish M-Score Chart

Airesis Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.28 -3.03 -2.74 -2.15 -4.07

Airesis Semi-Annual Data
Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 -2.15 0.00 -4.07 0.00

CHIX:AIREZ vs AS, HAS, PLNT: Beneish M-Score Comparison

For the Leisure subindustry, Airesis'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.

Airesis Beneish M-Score vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Airesis's Beneish M-Score distribution charts can be found below:

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


CHIX:AIREZ
4GF Score
Airesis SA CHIX:AIREZ
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Airesis 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 Airesis 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 * 0.6527+0.528 * 1.2144+0.404 * 0.9485+0.892 * 0.8083+0.115 * 1.0039
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.3213+4.679 * -0.231388-0.327 * 1.175
=-4.07

* 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 (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was CHF19.5 Mil.
Revenue was CHF121.0 Mil.
Gross Profit was CHF30.3 Mil.
Total Current Assets was CHF72.3 Mil.
Total Assets was CHF140.6 Mil.
Property, Plant and Equipment(Net PPE) was CHF38.6 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF6.1 Mil.
Selling, General, & Admin. Expense(SGA) was CHF47.8 Mil.
Total Current Liabilities was CHF94.4 Mil.
Long-Term Debt & Capital Lease Obligation was CHF73.2 Mil.
Net Income was CHF-29.3 Mil.
Gross Profit was CHF0.0 Mil.
Cash Flow from Operations was CHF3.3 Mil.
 Total Receivables was CHF36.9 Mil.
Revenue was CHF149.7 Mil.
Gross Profit was CHF45.6 Mil.
Total Current Assets was CHF91.7 Mil.
Total Assets was CHF165.9 Mil.
Property, Plant and Equipment(Net PPE) was CHF37.3 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF5.9 Mil.
Selling, General, & Admin. Expense(SGA) was CHF44.8 Mil.
Total Current Liabilities was CHF107.2 Mil.
Long-Term Debt & Capital Lease Obligation was CHF61.1 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)
=(19.49 / 121.02) / (36.942 / 149.722)
=0.161048 / 0.246737
=0.6527

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)
=(45.576 / 149.722) / (30.335 / 121.02)
=0.304404 / 0.250661
=1.2144

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 - (72.28 + 38.633) / 140.647) / (1 - (91.7 + 37.257) / 165.946)
=0.211409 / 0.222898
=0.9485

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
=121.02 / 149.722
=0.8083

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))
=(5.943 / (5.943 + 37.257)) / (6.135 / (6.135 + 38.633))
=0.137569 / 0.13704
=1.0039

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)
=(47.841 / 121.02) / (44.794 / 149.722)
=0.395315 / 0.299181
=1.3213

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)
=((73.182 + 94.39) / 140.647) / ((61.081 + 107.186) / 165.946)
=1.191437 / 1.013986
=1.175

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
=(-29.287 - 0 - 3.257) / 140.647
=-0.231388

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.

Airesis has a M-score of -4.07 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 0.00 mean?
Airesis (CHIX:AIREZ) has a Beneish M-Score of 0.00 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Airesis and its competitors.
Is Airesis' Beneish M-Score too high?
Airesis' current Beneish M-Score is 0.00. Overall, Airesis has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.
How does Airesis' Beneish M-Score compare to AS and HAS?
Airesis' Beneish M-Score of 0.00 can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good Beneish M-Score depends on the Travel & Leisure 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 Airesis and its competitors. Airesis'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 Airesis stock overvalued right now?
Airesis (CHIX:AIREZ) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Airesis' overall GF Score™ is 4/100. 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 Airesis (CHIX:AIREZ), the current Beneish M-Score is 0.00 as of Jun. 24, 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.

Airesis Business Description

Address Chemin du Pierrier 1, Clarens, Montreux, CHE, CH-1815
Airesis SA is a private equity and venture capital firm specializing in early, mid, and late venture, emerging growth, growth capital, turnaround, buyouts, and pre-IPO transactions. It seeks to invest in small and mid-sized companies. It prefers to invest in sports brands. The firm also makes investments in the real estate and brand sectors. In development division investments, the firm seeks to take a board seat in its portfolio companies. It also owns a distribution company that distributes sports goods. Geographically, it operates in France, Italy, Spain, and the Rest of the world, out of which the majority is from France.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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