Taleem REIT Fund (SAU:4333) Beneish M-Score: -2.51 (As of Jun. 28, 2026)

What is Taleem REIT Fund Beneish M-Score?

Taleem REIT Fund SAU:4333 +0.37% 36 Beneish M-Score is -2.51 as of Jun. 28, 2026. GuruFocus rates SAU:4333 with a GF Score™ of 36/100. The stock has 7 warning signs investors should review. Among 765 REITs companies, Taleem REIT Fund ranks better than 52.03% 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 -2.51 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SAU:4333' s Beneish M-Score Range Over the Past 10 Years
Min: -8.02 Med: -2.51 Max: 1.96
Current: -2.51

During the past 9 years, the highest Beneish M-Score of Taleem REIT Fund was 1.96. The lowest was -8.02. And the median was -2.51.

Taleem REIT Fund Beneish M-Score Related Terms

Taleem REIT Fund Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Taleem REIT Fund'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.

Taleem REIT Fund Beneish M-Score Chart

Taleem REIT Fund Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-2.35

-2.82

-3.21

1.96

-2.51

Taleem REIT Fund Semi-Annual Data
	Dec17	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial											-3.21	0.00	1.96	0.00	-2.51

SAU:4333 vs VICI, WPC: Beneish M-Score Comparison

For the REIT - Diversified subindustry, Taleem REIT Fund'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.

Taleem REIT Fund Beneish M-Score vs REITs Industry

For the REITs industry and Real Estate sector, Taleem REIT Fund's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Taleem REIT Fund's Beneish M-Score falls into.

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36GF Score

Taleem REIT Fund SAU:4333

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

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Taleem REIT Fund 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 Taleem REIT Fund 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 * 1.1011

0.528 * 1.0021

0.404 * 0.9922

0.892 * 0.9834

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9033

4.679 * -0.026834

0.327 * 0.9946

-2.51

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was ﷼80.78 Mil.
Revenue was ﷼66.31 Mil.
Gross Profit was ﷼62.21 Mil.
Total Current Assets was ﷼162.44 Mil.
Total Assets was ﷼855.92 Mil.
Property, Plant and Equipment(Net PPE) was ﷼0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼6.99 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼0.55 Mil.
Total Current Liabilities was ﷼8.25 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼297.50 Mil.
Net Income was ﷼33.74 Mil.
Gross Profit was ﷼0.00 Mil.
Cash Flow from Operations was ﷼56.70 Mil.

Total Receivables was ﷼74.61 Mil.
Revenue was ﷼67.43 Mil.
Gross Profit was ﷼63.39 Mil.
Total Current Assets was ﷼157.29 Mil.
Total Assets was ﷼857.76 Mil.
Property, Plant and Equipment(Net PPE) was ﷼0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼6.18 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼0.62 Mil.
Total Current Liabilities was ﷼9.82 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼298.26 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)
	=	(80.78 / 66.309)	/	(74.605 / 67.43)
	=	1.218236	/	1.106407
	=	1.1011

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)
	=	(63.389 / 67.43)	/	(62.207 / 66.309)
	=	0.940071	/	0.938138
	=	1.0021

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 - (162.436 + 0) / 855.92)	/	(1 - (157.287 + 0) / 857.762)
	=	0.810221	/	0.816631
	=	0.9922

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
	=	66.309	/	67.43
	=	0.9834

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))
	=	(6.179 / (6.179 + 0))	/	(6.99 / (6.99 + 0))
	=	1	/	1
	=	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)
	=	(0.549 / 66.309)	/	(0.618 / 67.43)
	=	0.008279	/	0.009165
	=	0.9033

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)
	=	((297.495 + 8.25) / 855.92)	/	((298.259 + 9.817) / 857.762)
	=	0.357212	/	0.359163
	=	0.9946

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
	=	(33.736 - 0	-	56.704)	/	855.92
	=	-0.026834

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.

Taleem REIT Fund has a M-score of -2.51 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 -2.51 mean?

Taleem REIT Fund (SAU:4333) has a Beneish M-Score of -2.51 as of Jun. 28, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Taleem REIT Fund and its competitors. According to the industry distribution chart, Taleem REIT Fund ranks #367 out of 765 companies in the REITs industry, placing it in the top 48%.

Is Taleem REIT Fund's Beneish M-Score too high?

Taleem REIT Fund's current Beneish M-Score is -2.51. Based on the distribution chart, Taleem REIT Fund ranks #367 out of 765 companies in the REITs industry, which is above the industry midpoint. Overall, Taleem REIT Fund has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.

How does Taleem REIT Fund's Beneish M-Score compare to VICI and WPC?

According to the REITs industry distribution chart, Taleem REIT Fund ranks #367 out of 765 companies for Beneish M-Score. This puts Taleem REIT Fund in the upper 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 Taleem REIT Fund and its competitors. Taleem REIT Fund's current Beneish M-Score is -2.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Taleem REIT Fund stock overvalued right now?

Taleem REIT Fund (SAU:4333) has a current Beneish M-Score of -2.51. The current Beneish M-Score is -2.51. Taleem REIT Fund's overall GF Score™ is 36/100 with 7 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 Taleem REIT Fund (SAU:4333), the current Beneish M-Score is -2.51 as of Jun. 28, 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.

Taleem REIT Fund Business Description

Industry Real Estate REITs

Comparable Companies SAU:4334 SAU:4339 SAU:4336 SAU:4350 SAU:4335 SAU:4337 SAU:4348 SAU:4346 SAU:4338 SAU:9300 ASX:GMG VICI WPC BSP:HSRE11 ASX:SGP XPAR:COV ASX:CHC ASX:GPT MEX:FUNO11 LSE:LAND

Address 8092 King Fahd Road, P.O. Box 12313, Riyadh, SAU, 3735

Website https://www.bsfcapital.sa

Taleem REIT Fund is a closed-ended Shariah compliant real estate investment traded fund. The fund seeks to invest in income generating real estate assets in the education and training sector. The Fund is organised into one operating segment, Educational Institutions.

36GF Score

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﷼10.87

Price

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