MTR (Mesa Royalty Trust) Beneish M-Score: 0.00 (As of Jun. 25, 2026)

What is Mesa Royalty Trust Beneish M-Score?

Mesa Royalty Trust MTR -1.57% 69 Beneish M-Score is 0.00 as of Jun. 25, 2026. GuruFocus rates MTR with a GF Score™ of 69/100 and a GF Value™ of $3.67 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 822 Oil & Gas companies, Mesa Royalty Trust ranks worse than 121654.38% on this metric.

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 Mesa Royalty Trust's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Mesa Royalty Trust was 0.52. The lowest was -3.37. And the median was -1.63.

Mesa Royalty Trust Beneish M-Score Related Terms

Mesa Royalty Trust Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Mesa Royalty Trust's Beneish M-Score can be seen below:

* 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.

Mesa Royalty Trust Beneish M-Score Chart

Mesa Royalty Trust Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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0.00

-3.37

0.00

Mesa Royalty Trust Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															0.00	0.00	0.00	0.00	0.00

MTR vs HGTXU, OKMN, ROYL: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, Mesa Royalty Trust's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Mesa Royalty Trust Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Mesa Royalty Trust's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Mesa Royalty Trust's Beneish M-Score falls into.

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Mesa Royalty Trust MTR

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Mesa Royalty 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 Mesa Royalty Trust for today is based on a combination of the following eight different indices:

-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 *

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was $0.00 Mil.
Revenue was $0.60 Mil.
Gross Profit was $0.60 Mil.
Total Current Assets was $2.07 Mil.
Total Assets was $3.29 Mil.
Property, Plant and Equipment(Net PPE) was $1.21 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.17 Mil.
Total Current Liabilities was $0.12 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $0.51 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $0.00 Mil.

Total Receivables was $0.00 Mil.
Revenue was $0.65 Mil.
Gross Profit was $0.65 Mil.
Total Current Assets was $1.93 Mil.
Total Assets was $3.19 Mil.
Property, Plant and Equipment(Net PPE) was $1.26 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.20 Mil.
Total Current Liabilities was $0.06 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 / 0.602)	/	(0 / 0.649)
	=	0	/	0
	=

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)
	=	(0.649 / 0.649)	/	(0.602 / 0.602)
	=	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 - (2.073 + 1.213) / 3.286)	/	(1 - (1.93 + 1.258) / 3.188)
	=	0	/	0
	=

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
	=	0.602	/	0.649
	=

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 + 1.258))	/	(0 / (0 + 1.213))
	=	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)
	=	(0.172 / 0.602)	/	(0.196 / 0.649)
	=	0.285714	/	0.302003
	=

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 + 0.124) / 3.286)	/	((0 + 0.058) / 3.188)
	=	0.037736	/	0.018193
	=

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
	=	(0.511 - 0	-	0)	/	3.286
	=	0.155508

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?

Mesa Royalty Trust (MTR) has a Beneish M-Score of 0.00 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mesa Royalty Trust and its competitors. According to the industry distribution chart, Mesa Royalty Trust ranks #999999 out of 822 companies in the Oil & Gas industry.

Is Mesa Royalty Trust's Beneish M-Score too high?

Mesa Royalty Trust's current Beneish M-Score is 0.00. Based on the distribution chart, Mesa Royalty Trust ranks #999999 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Mesa Royalty Trust has a GF Score™ of 69/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Mesa Royalty Trust's Beneish M-Score compare to HGTXU and OKMN?

According to the Oil & Gas industry distribution chart, Mesa Royalty Trust ranks #999999 out of 822 companies for Beneish M-Score. This places Mesa Royalty 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 Oil & Gas company?

A good Beneish M-Score depends on the Oil & Gas 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 Mesa Royalty Trust and its competitors. Mesa Royalty Trust'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 Mesa Royalty Trust stock overvalued right now?

Based on GuruFocus' analysis, Mesa Royalty Trust (MTR) is currently considered Modestly Undervalued. The stock's GF Value™ is $3.67, compared to a current price of $3.14 — trading 14.4% below its estimated fair value. The current Beneish M-Score is 0.00. Mesa Royalty Trust's overall GF Score™ is 69/100 with 3 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 Mesa Royalty Trust (MTR), the current Beneish M-Score is 0.00 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 Mesa Royalty Trust (MTR) Overvalued in 2026?

Based on GuruFocus' analysis, Mesa Royalty Trust stock appears to be undervalued. The current stock price of $3.14 is trading 14.4% below its estimated GF Value™ of $3.67. GuruFocus considers Mesa Royalty Trust to be Modestly Undervalued.

Key valuation signals for MTR:

Beneish M-Score: 0.00
GF Value™: $3.67 vs. price of $3.14 (14.4% below fair value)
GF Score™: 69/100 with 3 warning signs

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

Mesa Royalty Trust Business Description

Industry Energy Oil & Gas

Comparable Companies HGTXU OKMN ROYL GULTU ALTX CRCE TPET FECOF PTCO GRVE HKSE:00883 COP TSX:CNQ EOG OXY FANG DVN ASX:WDS EQT TPL

Address 601 Travis Street, Floor 16, Global Corporate Trust, Houston, TX, USA, 77002

Website https://mtr.q4web.com

Mesa Royalty Trust holds net overriding royalty interests in various oil and gas properties located in the: Hugoton field of Kansas, San Juan Basin field of New Mexico, and San Juan Basin Field of Colorado.

69GF Score

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

$3.14

Price

$3.67

GF Value

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