CROMF (Crombie Real Estate Investment Trust) Beneish M-Score: -2.45 (As of Jun. 26, 2026)


CROMF Crombie Real Estate Investment Trust CROMF
67 GF Score
Price $12.28
GF Value $10.97
Valuation Modestly Overvalued
! 9 Warning Signs
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What is Crombie Real Estate Investment Trust Beneish M-Score?

Crombie Real Estate Investment Trust CROMF 67 Beneish M-Score is -2.45 as of Jun. 26, 2026. GuruFocus rates CROMF with a GF Score™ of 67/100 and a GF Value™ of $10.97 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 764 REITs companies, Crombie Real Estate Investment Trust ranks worse than 53.93% 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 -2.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CROMF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.01   Med: -2.56   Max: 5.89
Current: -2.45

During the past 13 years, the highest Beneish M-Score of Crombie Real Estate Investment Trust was 5.89. The lowest was -3.01. And the median was -2.56.

Crombie Real Estate Investment Trust Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Crombie Real Estate Investment Trust'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.

Crombie Real Estate Investment Trust Beneish M-Score Chart

Crombie Real Estate Investment Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.80 -2.74 -2.59 -2.93 -2.47

Crombie Real Estate Investment Trust Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -2.84 -2.37 -2.57 -2.47 -2.45

CROMF vs VICI, WPC, BNL: Beneish M-Score Comparison

For the REIT - Diversified subindustry, Crombie Real Estate Investment Trust'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.

Crombie Real Estate Investment Trust Beneish M-Score vs REITs Industry

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

* The bar in red indicates where Crombie Real Estate Investment Trust's Beneish M-Score falls into.


CROMF
67GF Score
Crombie Real Estate Investment Trust CROMF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Crombie Real Estate Investment 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 Crombie Real Estate Investment 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 * 1.2157+0.528 * 0.9846+0.404 * 1.0079+0.892 * 1.0697+0.115 * 0.9891
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1202+4.679 * -0.03253-0.327 * 1.0182
=-2.40

* 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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was $21.0 Mil.
Revenue was 94.969 + 90.371 + 90.004 + 92.978 = $368.3 Mil.
Gross Profit was 60.379 + 58.99 + 60.649 + 61.918 = $241.9 Mil.
Total Current Assets was $27.2 Mil.
Total Assets was $3,291.0 Mil.
Property, Plant and Equipment(Net PPE) was $6.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $65.0 Mil.
Selling, General, & Admin. Expense(SGA) was $19.3 Mil.
Total Current Liabilities was $335.3 Mil.
Long-Term Debt & Capital Lease Obligation was $1,600.6 Mil.
Net Income was 20.264 + 18.293 + 22.276 + 26.657 = $87.5 Mil.
Non Operating Income was -0.249 + -1.422 + -0.447 + 3.304 = $1.2 Mil.
Cash Flow from Operations was 55.259 + 46.628 + 57.191 + 34.28 = $193.4 Mil.
 Total Receivables was $16.2 Mil.
Revenue was 86.245 + 86.328 + 85.297 + 86.441 = $344.3 Mil.
Gross Profit was 54.503 + 55.834 + 56.171 + 56.179 = $222.7 Mil.
Total Current Assets was $48.7 Mil.
Total Assets was $3,082.0 Mil.
Property, Plant and Equipment(Net PPE) was $6.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $60.1 Mil.
Selling, General, & Admin. Expense(SGA) was $16.1 Mil.
Total Current Liabilities was $133.3 Mil.
Long-Term Debt & Capital Lease Obligation was $1,647.4 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)
=(21.028 / 368.322) / (16.17 / 344.311)
=0.057091 / 0.046963
=1.2157

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)
=(222.687 / 344.311) / (241.936 / 368.322)
=0.646761 / 0.65686
=0.9846

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 - (27.216 + 6.119) / 3290.953) / (1 - (48.722 + 6.385) / 3082.012)
=0.989871 / 0.98212
=1.0079

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
=368.322 / 344.311
=1.0697

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))
=(60.124 / (60.124 + 6.385)) / (64.989 / (64.989 + 6.119))
=0.903998 / 0.913948
=0.9891

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)
=(19.293 / 368.322) / (16.1 / 344.311)
=0.052381 / 0.04676
=1.1202

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)
=((1600.647 + 335.301) / 3290.953) / ((1647.369 + 133.341) / 3082.012)
=0.588264 / 0.577775
=1.0182

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
=(87.49 - 1.186 - 193.358) / 3290.953
=-0.03253

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.

Crombie Real Estate Investment Trust has a M-score of -2.40 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 -2.45 mean?
Crombie Real Estate Investment Trust (CROMF) has a Beneish M-Score of -2.45 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Crombie Real Estate Investment Trust and its competitors. According to the industry distribution chart, Crombie Real Estate Investment Trust ranks #412 out of 764 companies in the REITs industry, placing it in the top 53.9%.
Is Crombie Real Estate Investment Trust's Beneish M-Score too high?
Crombie Real Estate Investment Trust's current Beneish M-Score is -2.45. Based on the distribution chart, Crombie Real Estate Investment Trust ranks #412 out of 764 companies in the REITs industry, which is below the industry midpoint. Overall, Crombie Real Estate Investment Trust has a GF Score™ of 67/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Crombie Real Estate Investment Trust's Beneish M-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Crombie Real Estate Investment Trust ranks #412 out of 764 companies for Beneish M-Score. This places Crombie Real Estate Investment 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 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 Crombie Real Estate Investment Trust and its competitors. Crombie Real Estate Investment Trust's current Beneish M-Score is -2.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Crombie Real Estate Investment Trust stock overvalued right now?
Based on GuruFocus' analysis, Crombie Real Estate Investment Trust (CROMF) is currently considered Modestly Overvalued. The stock's GF Value™ is $10.97, compared to a current price of $12.28 — trading 11.9% above its estimated fair value. The current Beneish M-Score is -2.45. Crombie Real Estate Investment Trust's overall GF Score™ is 67/100 with 9 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 Crombie Real Estate Investment Trust (CROMF), the current Beneish M-Score is -2.45 as of Jun. 26, 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 Crombie Real Estate Investment Trust (CROMF) Overvalued in 2026?

Based on GuruFocus' analysis, Crombie Real Estate Investment Trust stock appears to be overvalued. The current stock price of $12.28 is trading 11.9% above its estimated GF Value™ of $10.97. GuruFocus considers Crombie Real Estate Investment Trust to be Modestly Overvalued.

Key valuation signals for CROMF:

  • Beneish M-Score: -2.45
  • GF Value™: $10.97 vs. price of $12.28 (11.9% above fair value)
  • GF Score™: 67/100 with 9 warning signs

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

Crombie Real Estate Investment Trust Business Description

Industry Real EstateREITs
Other Exchanges V8X:GermanyCRR.UN:Canada
Address 610 East River Road, Suite 200, New Glasgow, NS, CAN, B2H 3S2
Crombie Real Estate Investment Trust is an unincorporated open-ended real estate investment trust. The principal business of Crombie is investing in income-producing retail, retail-related industrial, mixed-use, and office properties in Canada. The properties are located in Canada's urban and suburban markets. Crombie's tenants include retailers such as Sobeys, Shoppers Drug Mart, Cineplex, and the Province of Nova Scotia. The company's property portfolio includes Aberdeen Business Centre, Brunswick Place, Barrington Tower, CIBC Building, Amherst Centre, Avalon Mall, County Fair Mall, and others.
67GF Score

Get the complete analysis for CROMF

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

$12.28
Price
$10.97
GF Value