Crown Equities (PHS:CEI) Beneish M-Score: -2.33 (As of Jun. 24, 2026)


What is Crown Equities Beneish M-Score?

Crown Equities PHS:CEI Beneish M-Score is -2.33 as of Jun. 24, 2026. The stock has 5 warning signs investors should review. Among 1,681 Real Estate companies, Crown Equities ranks worse than 52.17% 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.

Good Sign:

Beneish M-Score -2.33 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

PHS:CEI' s Beneish M-Score Range Over the Past 10 Years
Min: -3.28   Med: -2.45   Max: -0.61
Current: -2.33

During the past 13 years, the highest Beneish M-Score of Crown Equities was -0.61. The lowest was -3.28. And the median was -2.45.


Crown Equities Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Crown Equities'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.

Crown Equities Beneish M-Score Chart

Crown Equities Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.41 -2.71 -2.76 -2.55 -2.27

Crown Equities 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.65 -2.72 -2.57 -2.27 -2.33

PHS:CEI vs CBRE, BEKE: Beneish M-Score Comparison

For the Real Estate Services subindustry, Crown Equities'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.


Crown Equities Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Crown Equities's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Crown Equities's Beneish M-Score falls into.



Crown Equities 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 Crown Equities 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 * 0.8871+0.528 * 0.9838+0.404 * 1.0305+0.892 * 1.1929+0.115 * 0.9562
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7929+4.679 * 0.01465-0.327 * 1.063
=-2.33

* 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 ₱74.2 Mil.
Revenue was 38.957 + 40.224 + 41.38 + 41.08 = ₱161.6 Mil.
Gross Profit was 27.153 + 23.962 + 28.472 + 28 = ₱107.6 Mil.
Total Current Assets was ₱933.9 Mil.
Total Assets was ₱2,537.4 Mil.
Property, Plant and Equipment(Net PPE) was ₱251.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱17.1 Mil.
Selling, General, & Admin. Expense(SGA) was ₱40.0 Mil.
Total Current Liabilities was ₱184.0 Mil.
Long-Term Debt & Capital Lease Obligation was ₱0.0 Mil.
Net Income was 10.179 + -8.736 + 11.439 + 3.658 = ₱16.5 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₱0.0 Mil.
Cash Flow from Operations was -50.099 + -22.117 + 18.689 + 32.894 = ₱-20.6 Mil.
Total Receivables was ₱70.1 Mil.
Revenue was 47.976 + 27.148 + 22.892 + 37.489 = ₱135.5 Mil.
Gross Profit was 33.377 + 15.466 + 14.339 + 25.55 = ₱88.7 Mil.
Total Current Assets was ₱990.9 Mil.
Total Assets was ₱2,591.1 Mil.
Property, Plant and Equipment(Net PPE) was ₱260.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱16.9 Mil.
Selling, General, & Admin. Expense(SGA) was ₱42.3 Mil.
Total Current Liabilities was ₱176.8 Mil.
Long-Term Debt & Capital Lease Obligation was ₱0.0 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)
=(74.232 / 161.641) / (70.146 / 135.505)
=0.45924 / 0.517664
=0.8871

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)
=(88.732 / 135.505) / (107.587 / 161.641)
=0.654825 / 0.665592
=0.9838

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 - (933.907 + 251.921) / 2537.405) / (1 - (990.926 + 260.813) / 2591.094)
=0.532661 / 0.516907
=1.0305

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
=161.641 / 135.505
=1.1929

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))
=(16.897 / (16.897 + 260.813)) / (17.12 / (17.12 + 251.921))
=0.060844 / 0.063633
=0.9562

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)
=(40.004 / 161.641) / (42.297 / 135.505)
=0.247487 / 0.312143
=0.7929

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 + 184.003) / 2537.405) / ((0 + 176.76) / 2591.094)
=0.072516 / 0.068218
=1.063

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
=(16.54 - 0 - -20.633) / 2537.405
=0.01465

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.

Crown Equities has a M-score of -2.33 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 -2.33 mean?
Crown Equities (PHS:CEI) has a Beneish M-Score of -2.33 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Crown Equities and its competitors. According to the industry distribution chart, Crown Equities ranks #877 out of 1681 companies in the Real Estate industry, placing it in the top 52.2%.
Is Crown Equities' Beneish M-Score too high?
Crown Equities' current Beneish M-Score is -2.33. Based on the distribution chart, Crown Equities ranks #877 out of 1681 companies in the Real Estate industry, which is below the industry midpoint.
How does Crown Equities' Beneish M-Score compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Crown Equities ranks #877 out of 1681 companies for Beneish M-Score. This places Crown Equities 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 Real Estate company?
A good Beneish M-Score depends on the Real Estate 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 Crown Equities and its competitors. Crown Equities's current Beneish M-Score is -2.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Crown Equities stock overvalued right now?
Based on GuruFocus' analysis, Crown Equities (PHS:CEI) is currently considered Fairly Valued. The stock's GF Value™ is ₱0.08, compared to a current price of ₱0.08 — trading 2.5% above its estimated fair value. The current Beneish M-Score is -2.33. 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 Crown Equities (PHS:CEI), the current Beneish M-Score is -2.33 as of Jun. 24, 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.

Crown Equities Business Description

Address 158 Jupiter corner N. Garcia Street, 5th Floor, Crown Center, Bel-Air, Makati, PHL, 1209
Crown Equities Inc is a Philippines-based company engaged in the acquisition, development, and sale of real estate properties and healthcare business by operating an ambulatory care clinic. The company's operating segments include Real Estate, Healthcare Services, and Investment Holdings. It generates maximum revenue from the Real Estate segment, which involves the acquisition of land, planning, and development of residential communities such as condominium units, parking slots, residential lots, and housing units. The Healthcare Services segment is involved in delivering outpatient health care services through ambulatory care centers, and the Investment Holdings segment creates project investments and later disposes of these investments after creating value.