Aquila European Renewables (LSE:AERI) Beneish M-Score: 0.00 (As of Jun. 29, 2026)


LSE:AERI Aquila European Renewables PLC LSE:AERI
34 GF Score
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What is Aquila European Renewables Beneish M-Score?

Aquila European Renewables LSE:AERI 34 Beneish M-Score is 0.00 as of Jun. 29, 2026. GuruFocus rates LSE:AERI with a GF Score™ of 34/100. The stock has 1 warning sign investors should review. Among 951 Asset Management companies, Aquila European Renewables ranks worse than 105152.37% 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.

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

During the past 7 years, the highest Beneish M-Score of Aquila European Renewables was 0.00. The lowest was 0.00. And the median was 0.00.

LSE:AERI
34GF Score
Aquila European Renewables PLC LSE:AERI
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Aquila European Renewables 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 Aquila European Renewables 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 €-87.89 Mil.
Gross Profit was €-87.89 Mil.
Total Current Assets was €0.00 Mil.
Total Assets was €218.45 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 €1.24 Mil.
Total Current Liabilities was €0.00 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 Mil.
Net Income was €-94.46 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €6.40 Mil.
 Total Receivables was €0.00 Mil.
Revenue was €-28.12 Mil.
Gross Profit was €-28.12 Mil.
Total Current Assets was €0.00 Mil.
Total Assets was €321.63 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 €1.59 Mil.
Total Current Liabilities was €0.00 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 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 / -87.89) / (0 / -28.124)
= /
=

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)
=(-28.124 / -28.124) / (-87.89 / -87.89)
= /
=

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) / 218.451) / (1 - (0 + 0) / 321.629)
=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
=-87.89 / -28.124
=

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))
= /
=

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)
=(1.243 / -87.89) / (1.594 / -28.124)
= /
=

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)
=((0 + 0) / 218.451) / ((0 + 0) / 321.629)
=0 / 0
=

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
=(-94.46 - 0 - 6.396) / 218.451
=-0.461687

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.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
Aquila European Renewables (LSE:AERI) has a Beneish M-Score of 0.00 as of Jun. 29, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Aquila European Renewables and its competitors. According to the industry distribution chart, Aquila European Renewables ranks #999999 out of 951 companies in the Asset Management industry.
Is Aquila European Renewables' Beneish M-Score too high?
Aquila European Renewables' current Beneish M-Score is 0.00. Based on the distribution chart, Aquila European Renewables ranks #999999 out of 951 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Aquila European Renewables has a GF Score™ of 34/100, reflecting its overall financial health beyond just this single metric.
How does Aquila European Renewables' Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Aquila European Renewables ranks #999999 out of 951 companies for Beneish M-Score. This places Aquila European Renewables 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 Aquila European Renewables and its competitors. Aquila European Renewables's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aquila European Renewables stock overvalued right now?
Aquila European Renewables (LSE:AERI) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Aquila European Renewables' overall GF Score™ is 34/100 with 1 warning sign 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 Aquila European Renewables (LSE:AERI), the current Beneish M-Score is 0.00 as of Jun. 29, 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.

Aquila European Renewables Business Description

Address 140 Aldersgate Street, 4th Floor, London, GBR, EC1A 4HY
Aquila European Renewables PLC is an externally managed investment company. The company includes Guillena Solar Power Plant, Solar PV park Jaen in Andalusia, Spain. Solar PV park in Tiza in Almeria, Albenia solar park in Almeria, Ninetynine Seconds Hydropower in the Portugal. The companies investment objective is to generate stable returns, principally in the form of income distributions, by investing in a diversified portfolio of renewable energy infrastructure investments across continental Europe and Ireland.
34GF Score

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