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 -1.5 higher than -1.78, which implies that the company might have manipulated its financial results.
The historical rank and industry rank for Lazard Global Total Return & Fd's Beneish M-Score or its related term are showing as below:
LGI'
s Beneish M-Score Range Over the Past 10 Years
Min: -2.33 Med: -1.97 Max: -1.5
Current: -1.5
During the past 9 years, the highest Beneish M-Score of Lazard Global Total Return & Fd was -1.50. The lowest was -2.33. And the median was -1.97.
Lazard Global Total Return & Fd Beneish M-Score Related Terms
Lazard Global Total Return & Fd 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 Lazard Global Total Return & Fd 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 * 0.6262
+
0.528 * 1
+
0.404 * 1
+
0.892 * 2.1231
+
0.115 * 1
-
0.172 * SGAI
+
4.679 * TATA
-
0.327 * LVGI
-
0.172 * 0.3491
+
4.679 * 0.042462
-
0.327 * 0.9654
=
-1.50
* 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))
=
(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
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
=
(33.389 - 0
-
22.108)
/
265.67
=
0.042462
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.
Lazard Global Total Return & Fd has a M-score of -1.50 signals that the company is likely to be a manipulator.
Lazard Global Total Return & Fd (LGI) has a Beneish M-Score of -1.50 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Lazard Global Total Return & Fd and its competitors. According to the industry distribution chart, Lazard Global Total Return & Fd ranks #681 out of 955 companies in the Asset Management industry, placing it in the top 71.3%.
Is Lazard Global Total Return & Fd's Beneish M-Score too high?
Lazard Global Total Return & Fd's current Beneish M-Score is -1.50. Based on the distribution chart, Lazard Global Total Return & Fd ranks #681 out of 955 companies in the Asset Management industry, which is below the industry midpoint. Overall, Lazard Global Total Return & Fd has a GF Score™ of 54/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lazard Global Total Return & Fd's Beneish M-Score compare to SABA and JRS?
According to the Asset Management industry distribution chart, Lazard Global Total Return & Fd ranks #681 out of 955 companies for Beneish M-Score. This places Lazard Global Total Return & Fd 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 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 Lazard Global Total Return & Fd and its competitors. Lazard Global Total Return & Fd's current Beneish M-Score is -1.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lazard Global Total Return & Fd stock overvalued right now?
Based on GuruFocus' analysis, Lazard Global Total Return & Fd (LGI) is currently considered Modestly Undervalued. The stock's GF Value™ is $22.01, compared to a current price of $18.11 — trading 17.7% below its estimated fair value. The current Beneish M-Score is -1.50. Lazard Global Total Return & Fd's overall GF Score™ is 54/100 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 Lazard Global Total Return & Fd (LGI), the current Beneish M-Score is -1.50 as of Jun. 24, 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 Lazard Global Total Return & Fd (LGI) Overvalued in 2026?
Based on GuruFocus' analysis, Lazard Global Total Return & Fd stock appears to be undervalued.
The current stock price of $18.11 is trading 17.7% below its estimated GF Value™ of $22.01.
GuruFocus considers Lazard Global Total Return & Fd to be Modestly Undervalued.
Key valuation signals for LGI:
Beneish M-Score: -1.50
GF Value™: $22.01 vs. price of $18.11 (17.7% below fair value)
No single metric tells the full story. See the LGI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lazard Global Total Return & Fd Business Description
Lazard Global Total Return & Inc Fd Inc is a United States-based diversified, closed-end management investment company. Its investment objective is total return consisting of capital appreciation and income. The fund's portfolio of investments consists of different sector investments such as consumer staples, financials, consumer discretionary, healthcare, materials, sovereign debt and others.
54GF Score
Get the complete analysis for LGI
Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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