ARMOUR Residential REIT (MEX:ARR) Beneish M-Score: 0.00 (As of Jun. 26, 2026)


MEX:ARR ARMOUR Residential REIT Inc MEX:ARR
33 GF Score
Price MXN306.34
! 4 Warning Signs
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What is ARMOUR Residential REIT Beneish M-Score?

ARMOUR Residential REIT MEX:ARR 33 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates MEX:ARR with a GF Score™ of 33/100. The stock has 4 warning signs investors should review. Among 764 REITs companies, ARMOUR Residential REIT ranks worse than 130889.92% 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 ARMOUR Residential REIT's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of ARMOUR Residential REIT was 0.00. The lowest was 0.00. And the median was 0.00.

MEX:ARR
33GF Score
ARMOUR Residential REIT Inc MEX:ARR
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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ARMOUR Residential 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 ARMOUR Residential 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 * +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 (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was MXN1,598 Mil.
Revenue was -932.633 + 3848.79 + 2950.334 + -1361.709 = MXN4,505 Mil.
Gross Profit was -932.633 + 3848.79 + 2950.334 + -1361.709 = MXN4,505 Mil.
Total Current Assets was MXN0 Mil.
Total Assets was MXN386,884 Mil.
Property, Plant and Equipment(Net PPE) was MXN0 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN0 Mil.
Selling, General, & Admin. Expense(SGA) was MXN68 Mil.
Total Current Liabilities was MXN0 Mil.
Long-Term Debt & Capital Lease Obligation was MXN0 Mil.
Net Income was -989.112 + 3811.879 + 2921.479 + -1423.638 = MXN4,321 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = MXN0 Mil.
Cash Flow from Operations was 2011.656 + 640.301 + -693.502 + 470.052 = MXN2,429 Mil.
 Total Receivables was MXN1,273 Mil.
Revenue was 607.711 + -941.76 + 1307.554 + -858.791 = MXN115 Mil.
Gross Profit was 607.711 + -941.76 + 1307.554 + -858.791 = MXN115 Mil.
Total Current Assets was MXN0 Mil.
Total Assets was MXN317,039 Mil.
Property, Plant and Equipment(Net PPE) was MXN0 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN0 Mil.
Selling, General, & Admin. Expense(SGA) was MXN81 Mil.
Total Current Liabilities was MXN0 Mil.
Long-Term Debt & Capital Lease Obligation was MXN0 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)
=(1597.823 / 4504.782) / (1272.807 / 114.714)
=0.354695 / 11.095481
=

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)
=(114.714 / 114.714) / (4504.782 / 4504.782)
=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) / 386884.438) / (1 - (0 + 0) / 317038.557)
=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
=4504.782 / 114.714
=

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)
=(67.727 / 4504.782) / (81.213 / 114.714)
=0.015034 / 0.707961
=

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) / 386884.438) / ((0 + 0) / 317038.557)
=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
=(4320.608 - 0 - 2428.507) / 386884.438
=0.004891

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?
ARMOUR Residential REIT (MEX:ARR) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on ARMOUR Residential REIT and its competitors. According to the industry distribution chart, ARMOUR Residential REIT ranks #999999 out of 764 companies in the REITs industry.
Is ARMOUR Residential REIT's Beneish M-Score too high?
ARMOUR Residential REIT's current Beneish M-Score is 0.00. Based on the distribution chart, ARMOUR Residential REIT ranks #999999 out of 764 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, ARMOUR Residential REIT has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does ARMOUR Residential REIT's Beneish M-Score compare to EFC and ARI?
According to the REITs industry distribution chart, ARMOUR Residential REIT ranks #999999 out of 764 companies for Beneish M-Score. This places ARMOUR Residential 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 ARMOUR Residential REIT and its competitors. ARMOUR Residential REIT'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 ARMOUR Residential REIT stock overvalued right now?
ARMOUR Residential REIT (MEX:ARR) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. ARMOUR Residential REIT's overall GF Score™ is 33/100 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 ARMOUR Residential REIT (MEX:ARR), the current Beneish M-Score is 0.00 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.

ARMOUR Residential REIT Business Description

Industry Real EstateREITs
Address 3001 Ocean Drive, Suite 201, Vero Beach, FL, USA, 32963
ARMOUR Residential REIT Inc operate in the U.S. and invest in fixed rate residential, adjustable rate and hybrid adjustable rate residential MBS issued or guaranteed by U.S. GSEs or guaranteed by Ginnie Mae. It also invest in U.S. Treasury Securities and money market instruments.
33GF Score

Get the complete analysis for MEX:ARR

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

MXN306.34
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