CLILF (CapitaLand Investment) Beneish M-Score: -2.53 (As of Jun. 25, 2026)


CLILF CapitaLand Investment Ltd CLILF
71 GF Score
Price $1.83
GF Value $1.62
Valuation Modestly Overvalued
! 6 Warning Signs
View Full Analysis

What is CapitaLand Investment Beneish M-Score?

CapitaLand Investment CLILF -8.13% 71 Beneish M-Score is -2.53 as of Jun. 25, 2026. GuruFocus rates CLILF with a GF Score™ of 71/100 and a GF Value™ of $1.62 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 1,681 Real Estate companies, CapitaLand Investment ranks better than 61.27% on this metric.

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 -2.53 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CLILF' s Beneish M-Score Range Over the Past 10 Years
Min: -2.9   Med: -2.53   Max: -2.3
Current: -2.53

During the past 7 years, the highest Beneish M-Score of CapitaLand Investment was -2.30. The lowest was -2.90. And the median was -2.53.

CapitaLand Investment Beneish M-Score Historical Data

* Premium members only.

The historical data trend for CapitaLand Investment'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.

CapitaLand Investment Beneish M-Score Chart

CapitaLand Investment Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial -2.90 -2.56 -2.53 -2.30 -2.53

CapitaLand Investment Semi-Annual Data
Dec19 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.53 0.00 -2.30 0.00 -2.53

CLILF vs CBRE, BEKE: Beneish M-Score Comparison

For the Real Estate Services subindustry, CapitaLand Investment'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.

CapitaLand Investment Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, CapitaLand Investment's Beneish M-Score distribution charts can be found below:

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


CLILF
71GF Score
CapitaLand Investment Ltd CLILF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CapitaLand 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 CapitaLand 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 * 1.3296+0.528 * 0.9576+0.404 * 1.0189+0.892 * 0.7928+0.115 * 0.952
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1626+4.679 * -0.014291-0.327 * 1.0539
=-2.49

* 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 $838 Mil.
Revenue was $1,653 Mil.
Gross Profit was $776 Mil.
Total Current Assets was $2,503 Mil.
Total Assets was $18,758 Mil.
Property, Plant and Equipment(Net PPE) was $423 Mil.
Depreciation, Depletion and Amortization(DDA) was $101 Mil.
Selling, General, & Admin. Expense(SGA) was $115 Mil.
Total Current Liabilities was $1,756 Mil.
Long-Term Debt & Capital Lease Obligation was $6,072 Mil.
Net Income was $112 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $380 Mil.
 Total Receivables was $795 Mil.
Revenue was $2,085 Mil.
Gross Profit was $937 Mil.
Total Current Assets was $2,681 Mil.
Total Assets was $18,298 Mil.
Property, Plant and Equipment(Net PPE) was $459 Mil.
Depreciation, Depletion and Amortization(DDA) was $104 Mil.
Selling, General, & Admin. Expense(SGA) was $124 Mil.
Total Current Liabilities was $2,119 Mil.
Long-Term Debt & Capital Lease Obligation was $5,126 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)
=(838.305 / 1652.592) / (795.32 / 2084.568)
=0.507267 / 0.381527
=1.3296

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)
=(936.759 / 2084.568) / (775.548 / 1652.592)
=0.449378 / 0.469292
=0.9576

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 - (2502.518 + 423.026) / 18758.038) / (1 - (2681.428 + 459.123) / 18298.282)
=0.844038 / 0.828369
=1.0189

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
=1652.592 / 2084.568
=0.7928

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))
=(103.673 / (103.673 + 459.123)) / (101.495 / (101.495 + 423.026))
=0.184211 / 0.1935
=0.952

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)
=(114.666 / 1652.592) / (124.408 / 2084.568)
=0.069386 / 0.05968
=1.1626

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)
=((6071.899 + 1755.636) / 18758.038) / ((5125.889 + 2119.372) / 18298.282)
=0.41729 / 0.395953
=1.0539

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
=(112.342 - 0 - 380.414) / 18758.038
=-0.014291

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.

CapitaLand Investment has a M-score of -2.49 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 -2.53 mean?
CapitaLand Investment (CLILF) has a Beneish M-Score of -2.53 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CapitaLand Investment and its competitors. According to the industry distribution chart, CapitaLand Investment ranks #651 out of 1681 companies in the Real Estate industry, placing it in the top 38.7%.
Is CapitaLand Investment's Beneish M-Score too high?
CapitaLand Investment's current Beneish M-Score is -2.53. Based on the distribution chart, CapitaLand Investment ranks #651 out of 1681 companies in the Real Estate industry, which is above the industry midpoint. Overall, CapitaLand Investment has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CapitaLand Investment's Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, CapitaLand Investment ranks #651 out of 1681 companies for Beneish M-Score. This puts CapitaLand Investment 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 CapitaLand Investment and its competitors. CapitaLand Investment's current Beneish M-Score is -2.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CapitaLand Investment stock overvalued right now?
Based on GuruFocus' analysis, CapitaLand Investment (CLILF) is currently considered Modestly Overvalued. The stock's GF Value™ is $1.62, compared to a current price of $1.83 — trading 13% above its estimated fair value. The current Beneish M-Score is -2.53. CapitaLand Investment's overall GF Score™ is 71/100 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 CapitaLand Investment (CLILF), the current Beneish M-Score is -2.53 as of Jun. 25, 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 CapitaLand Investment (CLILF) Overvalued in 2026?

Based on GuruFocus' analysis, CapitaLand Investment stock appears to be overvalued. The current stock price of $1.83 is trading 13% above its estimated GF Value™ of $1.62. GuruFocus considers CapitaLand Investment to be Modestly Overvalued.

Key valuation signals for CLILF:

  • Beneish M-Score: -2.53
  • GF Value™: $1.62 vs. price of $1.83 (13% above fair value)
  • GF Score™: 71/100 with 6 warning signs

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

CapitaLand Investment Business Description

Other Exchanges 9CI:Singapore5NU:Germany
Address 168 Robinson Road, No.30-01 Capital Tower, Singapore, SGP, 068912
CapitaLand Investment is a Singapore-headquartered real estate investment management company with SGD 125 billion in total funds under management. The company has two core business segments: real estate investment and fee-income-related business. The majority of its earnings are derived from its real estate investment business, where it invests in a portfolio of office, retail, lodging, logistics, business parks, and data center assets for rental income. The firm also derives fee income from lodging management and management of underlying assets in investment vehicles such as an unlisted fund or REIT on behalf of its capital partners.
71GF Score

Get the complete analysis for CLILF

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

$1.83
Price
$1.62
GF Value