CT Private Equity Trust (LSE:CTPE) Beneish M-Score: -2.18 (As of Jun. 26, 2026)


LSE:CTPE CT Private Equity Trust PLC LSE:CTPE
61 GF Score
Price £4.96
GF Value £6.49
Valuation Modestly Undervalued
! 1 Warning Sign
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What is CT Private Equity Trust Beneish M-Score?

CT Private Equity Trust LSE:CTPE +1.64% 61 Beneish M-Score is -2.18 as of Jun. 26, 2026. GuruFocus rates LSE:CTPE with a GF Score™ of 61/100 and a GF Value™ of £6.49 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 955 Asset Management companies, CT Private Equity Trust ranks worse than 52.88% 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.

Good Sign:

Beneish M-Score -2.18 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for CT Private Equity Trust's Beneish M-Score or its related term are showing as below:

LSE:CTPE' s Beneish M-Score Range Over the Past 10 Years
Min: -4.06   Med: -1.91   Max: 11.59
Current: -2.18

During the past 13 years, the highest Beneish M-Score of CT Private Equity Trust was 11.59. The lowest was -4.06. And the median was -1.91.

LSE:CTPE
61GF Score
CT Private Equity Trust PLC LSE:CTPE
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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CT Private Equity Trust 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 CT Private Equity Trust 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 * 1.166+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8438+4.679 * 0.036436-0.327 * 1.1366
=-2.18

* 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 £24.36 Mil.
Gross Profit was £24.36 Mil.
Total Current Assets was £0.00 Mil.
Total Assets was £620.83 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 £1.15 Mil.
Total Current Liabilities was £0.00 Mil.
Long-Term Debt & Capital Lease Obligation was £108.59 Mil.
Net Income was £23.13 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £0.51 Mil.
 Total Receivables was £0.00 Mil.
Revenue was £20.90 Mil.
Gross Profit was £20.90 Mil.
Total Current Assets was £0.00 Mil.
Total Assets was £601.21 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 £1.17 Mil.
Total Current Liabilities was £0.00 Mil.
Long-Term Debt & Capital Lease Obligation was £92.52 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 / 24.363) / (0 / 20.895)
=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)
=(20.895 / 20.895) / (24.363 / 24.363)
=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) / 620.834) / (1 - (0 + 0) / 601.207)
=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
=24.363 / 20.895
=1.166

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)
=(1.153 / 24.363) / (1.172 / 20.895)
=0.047326 / 0.05609
=0.8438

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)
=((108.592 + 0) / 620.834) / ((92.519 + 0) / 601.207)
=0.174913 / 0.153889
=1.1366

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
=(23.129 - 0 - 0.508) / 620.834
=0.036436

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.

CT Private Equity Trust has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -2.18 mean?
CT Private Equity Trust (LSE:CTPE) has a Beneish M-Score of -2.18 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on CT Private Equity Trust and its competitors. According to the industry distribution chart, CT Private Equity Trust ranks #505 out of 955 companies in the Asset Management industry, placing it in the top 52.9%.
Is CT Private Equity Trust's Beneish M-Score too high?
CT Private Equity Trust's current Beneish M-Score is -2.18. Based on the distribution chart, CT Private Equity Trust ranks #505 out of 955 companies in the Asset Management industry, which is below the industry midpoint. Overall, CT Private Equity Trust has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CT Private Equity Trust's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, CT Private Equity Trust ranks #505 out of 955 companies for Beneish M-Score. This places CT Private Equity Trust 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 CT Private Equity Trust and its competitors. CT Private Equity Trust's current Beneish M-Score is -2.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CT Private Equity Trust stock overvalued right now?
Based on GuruFocus' analysis, CT Private Equity Trust (LSE:CTPE) is currently considered Modestly Undervalued. The stock's GF Value™ is £6.49, compared to a current price of £4.96 — trading 23.6% below its estimated fair value. The current Beneish M-Score is -2.18. CT Private Equity Trust's overall GF Score™ is 61/100 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 CT Private Equity Trust (LSE:CTPE), the current Beneish M-Score is -2.18 as of Jun. 26, 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 CT Private Equity Trust (LSE:CTPE) Overvalued in 2026?

Based on GuruFocus' analysis, CT Private Equity Trust stock appears to be undervalued. The current stock price of £4.96 is trading 23.6% below its estimated GF Value™ of £6.49. GuruFocus considers CT Private Equity Trust to be Modestly Undervalued.

Key valuation signals for LSE:CTPE:

  • Beneish M-Score: -2.18
  • GF Value™: £6.49 vs. price of £4.96 (23.6% below fair value)
  • GF Score™: 61/100 with 1 warning sign

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

CT Private Equity Trust Business Description

Address 7a Nightingale Way, Quartermile 4, 6th Floor, Edinburgh, GBR, EH3 9EG
CT Private Equity Trust PLC is a UK-based investment trust company. Its core business is the management of long-term borrowings by investing them in private equity assets. Its objective is to achieve long-term capital growth through investment in private equity assets, whilst providing shareholders with a predictable and above average level of dividend funded from a combination of the Company's revenue and realised capital profits. Its portfolio is comprised of private equity focused limited partnerships, offshore funds, investment companies and investment trusts. The company may also make direct private equity investments, mainly through co-investment with the funds in which the company is invested.
61GF Score

Get the complete analysis for LSE:CTPE

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

£4.96
Price
£6.49
GF Value