RSERF (Reservoir Capital) Beneish M-Score: 0.00 (As of Jul. 03, 2026)


RSERF Reservoir Capital Corp RSERF
12 GF Score
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What is Reservoir Capital Beneish M-Score?

Reservoir Capital RSERF 12 Beneish M-Score is 0.00 as of Jul. 03, 2026. GuruFocus rates RSERF with a GF Score™ of 12/100.

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 Reservoir Capital's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Reservoir Capital was 0.00. The lowest was 0.00. And the median was 0.00.

Reservoir Capital Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Reservoir Capital'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.

Reservoir Capital Beneish M-Score Chart

Reservoir Capital Annual Data
Trend Apr11 Apr12 Apr13 Apr14 Apr15 Apr16 Apr17 Apr18 Dec19 Dec20
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.79

Reservoir Capital Quarterly Data
Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21
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 0.00 0.79 -0.66 -2.20 -2.65

RSERF vs BLK, BX, KKR: Beneish M-Score Comparison

For the Asset Management subindustry, Reservoir Capital'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.

Reservoir Capital Beneish M-Score vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Reservoir Capital's Beneish M-Score distribution charts can be found below:

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


RSERF
12GF Score
Reservoir Capital Corp RSERF
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Reservoir Capital 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 Reservoir Capital 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 * 0.951+0.892 * 1.1747+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 2.4437+4.679 * 0.000803-0.327 * 1.062
=-2.61

* 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 (Sep21) TTM:Last Year (Sep20) TTM:
Total Receivables was $1.33 Mil.
Revenue was 0 + 0.375 + 0.281 + 1.368 = $2.02 Mil.
Gross Profit was 0 + 0.375 + 0.281 + 1.368 = $2.02 Mil.
Total Current Assets was $2.15 Mil.
Total Assets was $23.66 Mil.
Property, Plant and Equipment(Net PPE) was $0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.01 Mil.
Selling, General, & Admin. Expense(SGA) was $1.40 Mil.
Total Current Liabilities was $0.93 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 Mil.
Net Income was -0.275 + -0.2 + -0.074 + 0.485 = $-0.06 Mil.
Non Operating Income was -0.026 + 0.033 + -0.1 + -0.03 = $-0.12 Mil.
Cash Flow from Operations was -0.2 + 0.034 + -0.351 + 0.557 = $0.04 Mil.
 Total Receivables was $0.00 Mil.
Revenue was 0.418 + 0.731 + 0 + 0.574 = $1.72 Mil.
Gross Profit was 0.418 + 0.731 + 0 + 0.574 = $1.72 Mil.
Total Current Assets was $1.12 Mil.
Total Assets was $25.41 Mil.
Property, Plant and Equipment(Net PPE) was $0.01 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.49 Mil.
Total Current Liabilities was $0.94 Mil.
Long-Term Debt & Capital Lease Obligation was $0.03 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)
=(1.327 / 2.024) / (0 / 1.723)
=0.655632 / 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)
=(1.723 / 1.723) / (2.024 / 2.024)
=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 - (2.152 + 0.005) / 23.656) / (1 - (1.117 + 0.011) / 25.41)
=0.908818 / 0.955608
=0.951

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
=2.024 / 1.723
=1.1747

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 + 0.011)) / (0.005 / (0.005 + 0.005))
=0 / 0.5
=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)
=(1.398 / 2.024) / (0.487 / 1.723)
=0.690711 / 0.282647
=2.4437

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)
=((0.032 + 0.93) / 23.656) / ((0.03 + 0.943) / 25.41)
=0.040666 / 0.038292
=1.062

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
=(-0.064 - -0.123 - 0.04) / 23.656
=0.000803

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.

Reservoir Capital has a M-score of -2.61 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 0.00 mean?
Reservoir Capital (RSERF) has a Beneish M-Score of 0.00 as of Jul. 03, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Reservoir Capital and its competitors.
Is Reservoir Capital's Beneish M-Score too high?
Reservoir Capital's current Beneish M-Score is 0.00. Overall, Reservoir Capital has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Reservoir Capital's Beneish M-Score compare to BLK and BX?
Reservoir Capital's Beneish M-Score of 0.00 can be compared against companies in the Asset Management 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 Reservoir Capital and its competitors. Reservoir Capital'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 Reservoir Capital stock overvalued right now?
Reservoir Capital (RSERF) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Reservoir Capital's overall GF Score™ is 12/100. 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 Reservoir Capital (RSERF), the current Beneish M-Score is 0.00 as of Jul. 03, 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.

Reservoir Capital Business Description

Address 77 King Street West, Suite 2905, Toronto-Dominion Centre, Toronto, ON, CAN, M5K 1H1
Reservoir Capital Corp is focused on the acquisition, development, and exploitation of opportunities in the natural resource and energy sectors in South Eastern Europe. The company is exploring six gold and base metal exploration properties in Serbia, while its business development group is examining a number of acquisition opportunities in the region.
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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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