Aberdeen Asianome Fund (LSE:AAIF) Beneish M-Score: -0.84 (As of Jun. 25, 2026)


LSE:AAIF Aberdeen Asian Income Fund Ltd LSE:AAIF
42 GF Score
Price £3.35
GF Value £10.28
Valuation Possible Value Trap
! 5 Warning Signs
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What is Aberdeen Asianome Fund Beneish M-Score?

Aberdeen Asianome Fund LSE:AAIF +0.30% 42 Beneish M-Score is -0.84 as of Jun. 25, 2026. GuruFocus rates LSE:AAIF with a GF Score™ of 42/100 and a GF Value™ of £10.28 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 955 Asset Management companies, Aberdeen Asianome Fund ranks worse than 80% 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 -0.84 higher than -1.78, which implies that the company might have manipulated its financial results.

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

LSE:AAIF' s Beneish M-Score Range Over the Past 10 Years
Min: -2.34   Med: -1.85   Max: -0.08
Current: -0.84

During the past 13 years, the highest Beneish M-Score of Aberdeen Asianome Fund was -0.08. The lowest was -2.34. And the median was -1.85.

LSE:AAIF
42GF Score
Aberdeen Asian Income Fund Ltd LSE:AAIF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Aberdeen Asianome Fund 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 Aberdeen Asianome Fund 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+0.528 * 1+0.404 * 1+0.892 * 2.0319+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.5273+4.679 * 0.129058-0.327 * 0.9043
=-0.84

* 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 £0.00 Mil.
Revenue was £76.34 Mil.
Gross Profit was £76.34 Mil.
Total Current Assets was £0.00 Mil.
Total Assets was £446.41 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 £1.12 Mil.
Total Current Liabilities was £0.00 Mil.
Long-Term Debt & Capital Lease Obligation was £31.40 Mil.
Net Income was £73.96 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £16.35 Mil.
 Total Receivables was £0.00 Mil.
Revenue was £37.57 Mil.
Gross Profit was £37.57 Mil.
Total Current Assets was £0.00 Mil.
Total Assets was £416.81 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 £1.05 Mil.
Total Current Liabilities was £0.00 Mil.
Long-Term Debt & Capital Lease Obligation was £32.42 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)
=(0 / 76.34) / (0 / 37.57)
=0 / 0
=1

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)
=(37.57 / 37.57) / (76.34 / 76.34)
=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) / 446.41) / (1 - (0 + 0) / 416.811)
=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
=76.34 / 37.57
=2.0319

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)
=(1.124 / 76.34) / (1.049 / 37.57)
=0.014724 / 0.027921
=0.5273

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)
=((31.4 + 0) / 446.41) / ((32.422 + 0) / 416.811)
=0.070339 / 0.077786
=0.9043

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
=(73.964 - 0 - 16.351) / 446.41
=0.129058

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.

Aberdeen Asianome Fund has a M-score of -0.84 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 -0.84 mean?
Aberdeen Asianome Fund (LSE:AAIF) has a Beneish M-Score of -0.84 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aberdeen Asianome Fund and its competitors. According to the industry distribution chart, Aberdeen Asianome Fund ranks #764 out of 955 companies in the Asset Management industry, placing it in the top 80%.
Is Aberdeen Asianome Fund's Beneish M-Score too high?
Aberdeen Asianome Fund's current Beneish M-Score is -0.84. Based on the distribution chart, Aberdeen Asianome Fund ranks #764 out of 955 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Aberdeen Asianome Fund has a GF Score™ of 42/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Aberdeen Asianome Fund's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Aberdeen Asianome Fund ranks #764 out of 955 companies for Beneish M-Score. This places Aberdeen Asianome Fund 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 Aberdeen Asianome Fund and its competitors. Aberdeen Asianome Fund's current Beneish M-Score is -0.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aberdeen Asianome Fund stock overvalued right now?
Based on GuruFocus' analysis, Aberdeen Asianome Fund (LSE:AAIF) is currently considered Possible Value Trap. The stock's GF Value™ is £10.28, compared to a current price of £3.35 — trading 67.4% below its estimated fair value. The current Beneish M-Score is -0.84. Aberdeen Asianome Fund's overall GF Score™ is 42/100 with 5 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 Aberdeen Asianome Fund (LSE:AAIF), the current Beneish M-Score is -0.84 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 Aberdeen Asianome Fund (LSE:AAIF) Overvalued in 2026?

Based on GuruFocus' analysis, Aberdeen Asianome Fund stock appears to be undervalued. The current stock price of £3.35 is trading 67.4% below its estimated GF Value™ of £10.28. GuruFocus considers Aberdeen Asianome Fund to be Possible Value Trap.

Key valuation signals for LSE:AAIF:

  • Beneish M-Score: -0.84
  • GF Value™: £10.28 vs. price of £3.35 (67.4% below fair value)
  • GF Score™: 42/100 with 5 warning signs

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

Aberdeen Asianome Fund Business Description

Address 28 Esplanade, Saint Helier, JEY, JE2 3QA
Aberdeen Asian Income Fund Ltd is a closed-end investment company. The fund aims to provide investors with a consistent income and capital growth by investing in a diversified portfolio of high-quality equities across the Asia-Pacific region. The company is organised into one main operating segment, which invests in equity securities.
42GF Score

Get the complete analysis for LSE:AAIF

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

£3.35
Price
£10.28
GF Value