CHMI (Cherry Hill Mortgage Investment) Beneish M-Score: -1.74 (As of Aug. 17, 2026)

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CHMI Cherry Hill Mortgage Investment Corp CHMI
29 GF Score
Price $2.92
! 7 Warning Signs
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What is Cherry Hill Mortgage Investment Beneish M-Score?

Cherry Hill Mortgage Investment CHMI 29 Beneish M-Score is -1.74 as of Aug. 17, 2026. GuruFocus rates CHMI with a GF Score™ of 29/100. The stock has 7 warning signs investors should review. Among 741 REITs companies, Cherry Hill Mortgage Investment ranks worse than 83% 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 -1.74 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Cherry Hill Mortgage Investment's Beneish M-Score or its related term are showing as below:

CHMI' s Beneish M-Score Range Over the Past 10 Years
Min: -4.6   Med: -1.83   Max: 16.01
Current: -1.74

During the past 13 years, the highest Beneish M-Score of Cherry Hill Mortgage Investment was 16.01. The lowest was -4.60. And the median was -1.83.

CHMI
29GF Score
Cherry Hill Mortgage Investment Corp CHMI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Cherry Hill Mortgage Investment 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 Cherry Hill Mortgage Investment 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 * 0.3084+0.528 * 1+0.404 * 1+0.892 * 2.4371+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.2918+4.679 * -0.004934-0.327 * 1.0043
=-1.74

* 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 (Jun26) TTM:Last Year (Jun25) TTM:
Total Receivables was $10.83 Mil.
Revenue was 10.693 + 4.64 + 11.761 + 8.573 = $35.67 Mil.
Gross Profit was 10.693 + 4.64 + 11.761 + 8.573 = $35.67 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $1,397.54 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 $14.35 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $140.65 Mil.
Net Income was 3.739 + 0.423 + 7.728 + 4.432 = $16.32 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 4.641 + 12.613 + 8.354 + -2.39 = $23.22 Mil.
 Total Receivables was $14.40 Mil.
Revenue was 6.037 + -3.05 + 18.725 + -7.077 = $14.64 Mil.
Gross Profit was 6.037 + -3.05 + 18.725 + -7.077 = $14.64 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $1,490.66 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 $20.18 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $149.38 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)
=(10.827 / 35.667) / (14.403 / 14.635)
=0.303558 / 0.984148
=0.3084

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)
=(14.635 / 14.635) / (35.667 / 35.667)
=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) / 1397.544) / (1 - (0 + 0) / 1490.659)
=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
=35.667 / 14.635
=2.4371

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)
=(14.347 / 35.667) / (20.175 / 14.635)
=0.402249 / 1.378545
=0.2918

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)
=((140.648 + 0) / 1397.544) / ((149.381 + 0) / 1490.659)
=0.100639 / 0.100211
=1.0043

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
=(16.322 - 0 - 23.218) / 1397.544
=-0.004934

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.

Cherry Hill Mortgage Investment has a M-score of -1.74 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 -1.74 mean?
Cherry Hill Mortgage Investment (CHMI) has a Beneish M-Score of -1.74 as of Aug. 17, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cherry Hill Mortgage Investment and its competitors. According to the industry distribution chart, Cherry Hill Mortgage Investment ranks #615 out of 741 companies in the REITs industry, placing it in the top 83%.
Is Cherry Hill Mortgage Investment's Beneish M-Score too high?
Cherry Hill Mortgage Investment's current Beneish M-Score is -1.74. Based on the distribution chart, Cherry Hill Mortgage Investment ranks #615 out of 741 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Cherry Hill Mortgage Investment has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does Cherry Hill Mortgage Investment's Beneish M-Score compare to RPT and GPMT?
According to the REITs industry distribution chart, Cherry Hill Mortgage Investment ranks #615 out of 741 companies for Beneish M-Score. This places Cherry Hill Mortgage Investment 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 Cherry Hill Mortgage Investment and its competitors. Cherry Hill Mortgage Investment's current Beneish M-Score is -1.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cherry Hill Mortgage Investment stock overvalued right now?
Cherry Hill Mortgage Investment (CHMI) has a current Beneish M-Score of -1.74. The current Beneish M-Score is -1.74. Cherry Hill Mortgage Investment's overall GF Score™ is 29/100 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 Cherry Hill Mortgage Investment (CHMI), the current Beneish M-Score is -1.74 as of Aug. 17, 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.

Cherry Hill Mortgage Investment Business Description

Industry Real EstateREITs
Address 4000 Route 66, Suite 310, Tinton Falls, NJ, USA, 07753
Cherry Hill Mortgage Investment Corp is a fully integrated, internally managed residential real estate finance company focused on acquiring, investing in and managing residential mortgage assets in the United States. It invests in residential mortgage assets to generate current yields and risk-adjusted total returns for its stockholders over the long term, through dividend distributions and secondarily through capital appreciation. The company's reportable segments include investments in Residential mortgage-backed securities (RMBS), Investments in Servicing Related Assets, and All Others. It generates maximum revenue from the RMBS segment in the form of Interest income earned for servicing mortgage loans.
29GF Score

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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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