Alternativeome REIT (LSE:AIRE) Beneish M-Score: -1.06 (As of Jun. 25, 2026)


LSE:AIRE Alternative Income REIT PLC LSE:AIRE
43 GF Score
Price £0.69
GF Value £1.37
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Alternativeome REIT Beneish M-Score?

Alternativeome REIT LSE:AIRE 43 Beneish M-Score is -1.06 as of Jun. 25, 2026. GuruFocus rates LSE:AIRE with a GF Score™ of 43/100 and a GF Value™ of £1.37 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 765 REITs companies, Alternativeome REIT ranks worse than 90.85% 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 -1.06 higher than -1.78, which implies that the company might have manipulated its financial results.

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

LSE:AIRE' s Beneish M-Score Range Over the Past 10 Years
Min: -1.06   Med: -1.04   Max: -1.02
Current: -1.06

During the past 8 years, the highest Beneish M-Score of Alternativeome REIT was -1.02. The lowest was -1.06. And the median was -1.04.

LSE:AIRE
43GF Score
Alternative Income REIT PLC LSE:AIRE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Alternativeome REIT 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 Alternativeome REIT 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 * 2.5519+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.3919+4.679 * -0.015122-0.327 * 0.9822
=-1.06

* 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 (Jun25) TTM:Last Year (Jun24) TTM:
Total Receivables was £0.00 Mil.
Revenue was £8.09 Mil.
Gross Profit was £8.09 Mil.
Total Current Assets was £0.00 Mil.
Total Assets was £111.16 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 £0.71 Mil.
Total Current Liabilities was £0.00 Mil.
Long-Term Debt & Capital Lease Obligation was £40.96 Mil.
Net Income was £7.26 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £8.94 Mil.
 Total Receivables was £0.00 Mil.
Revenue was £3.17 Mil.
Gross Profit was £3.17 Mil.
Total Current Assets was £0.00 Mil.
Total Assets was £108.84 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 £0.71 Mil.
Total Current Liabilities was £0.00 Mil.
Long-Term Debt & Capital Lease Obligation was £40.83 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 / 8.092) / (0 / 3.171)
=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)
=(3.171 / 3.171) / (8.092 / 8.092)
=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) / 111.161) / (1 - (0 + 0) / 108.839)
=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
=8.092 / 3.171
=2.5519

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)
=(0.706 / 8.092) / (0.706 / 3.171)
=0.087247 / 0.222643
=0.3919

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)
=((40.956 + 0) / 111.161) / ((40.828 + 0) / 108.839)
=0.368439 / 0.375123
=0.9822

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
=(7.258 - 0 - 8.939) / 111.161
=-0.015122

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.

Alternativeome REIT has a M-score of -1.06 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 -1.06 mean?
Alternativeome REIT (LSE:AIRE) has a Beneish M-Score of -1.06 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Alternativeome REIT and its competitors. According to the industry distribution chart, Alternativeome REIT ranks #695 out of 765 companies in the REITs industry, placing it in the top 90.8%.
Is Alternativeome REIT's Beneish M-Score too high?
Alternativeome REIT's current Beneish M-Score is -1.06. Based on the distribution chart, Alternativeome REIT ranks #695 out of 765 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Alternativeome REIT has a GF Score™ of 43/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Alternativeome REIT's Beneish M-Score compare to VICI and WPC?
According to the REITs industry distribution chart, Alternativeome REIT ranks #695 out of 765 companies for Beneish M-Score. This places Alternativeome REIT 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 Alternativeome REIT and its competitors. Alternativeome REIT's current Beneish M-Score is -1.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alternativeome REIT stock overvalued right now?
Based on GuruFocus' analysis, Alternativeome REIT (LSE:AIRE) is currently considered Possible Value Trap. The stock's GF Value™ is £1.37, compared to a current price of £0.69 — trading 49.5% below its estimated fair value. The current Beneish M-Score is -1.06. Alternativeome REIT's overall GF Score™ is 43/100 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 Alternativeome REIT (LSE:AIRE), the current Beneish M-Score is -1.06 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 Alternativeome REIT (LSE:AIRE) Overvalued in 2026?

Based on GuruFocus' analysis, Alternativeome REIT stock appears to be undervalued. The current stock price of £0.69 is trading 49.5% below its estimated GF Value™ of £1.37. GuruFocus considers Alternativeome REIT to be Possible Value Trap.

Key valuation signals for LSE:AIRE:

  • Beneish M-Score: -1.06
  • GF Value™: £1.37 vs. price of £0.69 (49.5% below fair value)
  • GF Score™: 43/100 with 5 warning signs

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

Alternativeome REIT Business Description

Industry Real EstateREITs
Address 52 Lime Street, The Scalpel 18th Floor, London, GBR, EC3M 7AF
Alternative Income REIT PLC is a United Kingdom-based real estate investment trust focused on generating secure, diversified, and inflation-linked income returns while maintaining capital values through investments in UK properties. Its portfolio concentrates on alternative and specialist real estate sectors such as leisure, hotels, healthcare, education, logistics, automotive, supported living, and student accommodation. The company acquires freehold and long leasehold properties across the UK, emphasizing long leases and inflation-linked rent reviews to ensure income stability. Revenue is generated through rental income from a broad range of commercial properties with long-term leases to various tenants, supporting steady cash flow from its diversified portfolio.
43GF Score

Get the complete analysis for LSE:AIRE

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

£0.69
Price
£1.37
GF Value