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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 -3.09 no higher than -1.78, which implies that the company is unlikely to be a manipulator.
The historical rank and industry rank for Antin Infrastructure Partners's Beneish M-Score or its related term are showing as below:
FRA:8ZU'
s Beneish M-Score Range Over the Past 10 Years
Min: -3.5 Med: -2.77 Max: -1.33
Current: -3.09
During the past 9 years, the highest Beneish M-Score of Antin Infrastructure Partners was -1.33. The lowest was -3.50. And the median was -2.77.
* 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.
FRA:8ZU vs BLK, BX, KKR: Beneish M-Score Comparison
For the Asset Management subindustry, Antin Infrastructure Partners'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.
Antin Infrastructure Partners Beneish M-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Antin Infrastructure Partners's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Antin Infrastructure Partners's Beneish M-Score falls into.
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 Antin Infrastructure Partners 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 * 0.5079
+
0.528 * 1.0184
+
0.404 * 1.1394
+
0.892 * 0.9187
+
0.115 * 0.7998
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 1.0094
+
4.679 * -0.036655
-
0.327 * 0.862
=
-3.09
* 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))
=
(15.223 / (15.223 + 91.287))
/
(17.447 / (17.447 + 80.185))
=
0.142926
/
0.178702
=
0.7998
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
=
(106.91 - 0
-
128.9)
/
599.912
=
-0.036655
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.
Antin Infrastructure Partners has a M-score of -3.09 suggests that the company is unlikely to be a manipulator.
Antin Infrastructure Partners (FRA:8ZU) has a Beneish M-Score of -3.09 as of Aug. 27, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Antin Infrastructure Partners and its competitors. According to the industry distribution chart, Antin Infrastructure Partners ranks #141 out of 958 companies in the Asset Management industry, placing it in the top 14.7%.
Is Antin Infrastructure Partners' Beneish M-Score too high?
Antin Infrastructure Partners' current Beneish M-Score is -3.09. Based on the distribution chart, Antin Infrastructure Partners ranks #141 out of 958 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Antin Infrastructure Partners has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Antin Infrastructure Partners' Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Antin Infrastructure Partners ranks #141 out of 958 companies for Beneish M-Score. This places Antin Infrastructure Partners in the top 15% of its industry — outperforming the majority of peers. 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 an Asset Management company?
A good Beneish M-Score depends on the Asset Management 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 Antin Infrastructure Partners and its competitors. Antin Infrastructure Partners's current Beneish M-Score is -3.09. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Antin Infrastructure Partners stock overvalued right now?
Based on GuruFocus' analysis, Antin Infrastructure Partners (FRA:8ZU) is currently considered Modestly Undervalued. The stock's GF Value™ is €12.48, compared to a current price of €9.03 — trading 27.6% below its estimated fair value. The current Beneish M-Score is -3.09. Antin Infrastructure Partners' overall GF Score™ is 94/100 with 4 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 Antin Infrastructure Partners (FRA:8ZU), the current Beneish M-Score is -3.09 as of Aug. 27, 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 Antin Infrastructure Partners (FRA:8ZU) Overvalued in 2026?
Based on GuruFocus' analysis, Antin Infrastructure Partners stock appears to be undervalued.
The current stock price of €9.03 is trading 27.6% below its estimated GF Value™ of €12.48.
GuruFocus considers Antin Infrastructure Partners to be Modestly Undervalued.
Key valuation signals for FRA:8ZU:
Beneish M-Score: -3.09
GF Value™: €12.48 vs. price of €9.03 (27.6% below fair value)
No single metric tells the full story. See the FRA:8ZU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Antin Infrastructure Partners is an independent private equity firm focused on infrastructure investments. It manages multiple funds that invest in infrastructure projects in Europe and North America, targeting sectors such as energy and environment, digital, transportation, and social infrastructure, with the objective of generating risk-adjusted returns for investors. The majority of the company's revenue is derived from the Management fees. Geographically, it generates the maximum revenue from France.
94GF Score
Get the complete analysis for FRA:8ZU
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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