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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 -2.57 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Town Centre Securities's Beneish M-Score or its related term are showing as below:
CHIX:TOWNl'
s Beneish M-Score Range Over the Past 10 Years
Min: -5.18 Med: -2.49 Max: -0.75
Current: -2.57
During the past 13 years, the highest Beneish M-Score of Town Centre Securities was -0.75. The lowest was -5.18. And the median was -2.49.
Town Centre Securities Beneish M-Score Related Terms
Town Centre Securities Beneish M-Score Historical Data
* Premium members only.
The historical data trend for Town Centre Securities'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.
CHIX:TOWNL vs VICI, WPC: Beneish M-Score Comparison
For the REIT - Diversified subindustry, Town Centre Securities'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.
Town Centre Securities Beneish M-Score vs REITs Industry
For the REITs industry and Real Estate sector, Town Centre Securities's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Town Centre Securities's Beneish M-Score falls into.
Town Centre Securities 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 Town Centre Securities 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 * 0.9304
+
0.528 * 1.1257
+
0.404 * 1.0442
+
0.892 * 1.0226
+
0.115 * 0.9777
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0677
+
4.679 * -0.023771
-
0.327 * 0.9999
=
-2.57
* 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.
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.
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))
=
(2.404 / (2.404 + 69.349))
/
(2.281 / (2.281 + 64.283))
=
0.033504
/
0.034268
=
0.9777
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
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
=
(-3.446 - 0
-
3.244)
/
281.431
=
-0.023771
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.
Town Centre Securities has a M-score of -2.57 suggests that the company is unlikely to be a manipulator.
Town Centre Securities (CHIX:TOWNL) has a Beneish M-Score of -2.57 as of Jul. 22, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Town Centre Securities and its competitors. According to the industry distribution chart, Town Centre Securities ranks #321 out of 754 companies in the REITs industry, placing it in the top 42.6%.
Is Town Centre Securities' Beneish M-Score too high?
Town Centre Securities' current Beneish M-Score is -2.57. Based on the distribution chart, Town Centre Securities ranks #321 out of 754 companies in the REITs industry, which is above the industry midpoint. Overall, Town Centre Securities has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Town Centre Securities' Beneish M-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Town Centre Securities ranks #321 out of 754 companies for Beneish M-Score. This puts Town Centre Securities in the upper 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 Town Centre Securities and its competitors. Town Centre Securities's current Beneish M-Score is -2.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Town Centre Securities stock overvalued right now?
Based on GuruFocus' analysis, Town Centre Securities (CHIX:TOWNL) is currently considered Modestly Undervalued. The stock's GF Value™ is £1.36, compared to a current price of £1.16 — trading 14.7% below its estimated fair value. The current Beneish M-Score is -2.57. Town Centre Securities' overall GF Score™ is 67/100 with 7 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 Town Centre Securities (CHIX:TOWNL), the current Beneish M-Score is -2.57 as of Jul. 22, 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 Town Centre Securities (CHIX:TOWNL) Overvalued in 2026?
Based on GuruFocus' analysis, Town Centre Securities stock appears to be undervalued.
The current stock price of £1.16 is trading 14.7% below its estimated GF Value™ of £1.36.
GuruFocus considers Town Centre Securities to be Modestly Undervalued.
Key valuation signals for CHIX:TOWNL:
Beneish M-Score: -2.57
GF Value™: £1.36 vs. price of £1.16 (14.7% below fair value)
No single metric tells the full story. See the CHIX:TOWNL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Town Centre Securities PLC is a United Kingdom-based company engaged in property investment, development, trading, and the provision of hotel and car parks. The company operates in four business segments comprising property rental, car park operations, hotel operations, and investments. Geographically their operations are performed wholly in the United Kingdom. It serves various sectors such as retail, leisure, office, car parking, distribution, and residential. The company's property portfolio includes Rochdale Retail Park, Marina Residential, Eider House, Brownsfield Mill, Carver's Warehouse, Retail Village, The Arena Quarter, and others. The company derives its revenue from the Property Rental segment.
67GF Score
Get the complete analysis for CHIX:TOWNL
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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