Alinma Hospitality REIT Fund (SAU:4349) Beneish M-Score: 0.00 (As of Jul. 23, 2026)

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SAU:4349 Alinma Hospitality REIT Fund SAU:4349
33 GF Score
Price ﷼8.12
! 1 Warning Sign
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What is Alinma Hospitality REIT Fund Beneish M-Score?

Alinma Hospitality REIT Fund SAU:4349 -0.25% 33 Beneish M-Score is 0.00 as of Jul. 23, 2026. GuruFocus rates SAU:4349 with a GF Score™ of 33/100. The stock has 1 warning sign investors should review. Among 754 REITs companies, Alinma Hospitality REIT Fund ranks worse than 132625.86% 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 Alinma Hospitality REIT Fund's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Alinma Hospitality REIT Fund was 0.00. The lowest was 0.00. And the median was 0.00.

SAU:4349
33GF Score
Alinma Hospitality REIT Fund SAU:4349
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Alinma Hospitality 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 Alinma Hospitality REIT Fund 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 (Dec25) TTM:Last Year (Dec24) TTM:
Total Receivables was ﷼0.00 Mil.
Revenue was ﷼70.05 Mil.
Gross Profit was ﷼70.05 Mil.
Total Current Assets was ﷼0.00 Mil.
Total Assets was ﷼1,024.89 Mil.
Property, Plant and Equipment(Net PPE) was ﷼0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼19.69 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼1.39 Mil.
Total Current Liabilities was ﷼0.00 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼0.00 Mil.
Net Income was ﷼48.96 Mil.
Gross Profit was ﷼0.00 Mil.
Cash Flow from Operations was ﷼61.96 Mil.
 Total Receivables was ﷼0.00 Mil.
Revenue was ﷼69.81 Mil.
Gross Profit was ﷼69.81 Mil.
Total Current Assets was ﷼0.00 Mil.
Total Assets was ﷼1,045.70 Mil.
Property, Plant and Equipment(Net PPE) was ﷼0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼19.69 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼1.27 Mil.
Total Current Liabilities was ﷼0.00 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 / 70.046) / (0 / 69.811)
=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)
=(69.811 / 69.811) / (70.046 / 70.046)
=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) / 1024.885) / (1 - (0 + 0) / 1045.697)
=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
=70.046 / 69.811
=

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))
=(19.69 / (19.69 + 0)) / (19.69 / (19.69 + 0))
=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)
=(1.394 / 70.046) / (1.274 / 69.811)
=0.019901 / 0.018249
=

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) / 1024.885) / ((0 + 0) / 1045.697)
=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
=(48.961 - 0 - 61.955) / 1024.885
=-0.012678

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?
Alinma Hospitality REIT Fund (SAU:4349) has a Beneish M-Score of 0.00 as of Jul. 23, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Alinma Hospitality REIT Fund and its competitors. According to the industry distribution chart, Alinma Hospitality REIT Fund ranks #999999 out of 754 companies in the REITs industry.
Is Alinma Hospitality REIT Fund's Beneish M-Score too high?
Alinma Hospitality REIT Fund's current Beneish M-Score is 0.00. Based on the distribution chart, Alinma Hospitality REIT Fund ranks #999999 out of 754 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Alinma Hospitality REIT Fund has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does Alinma Hospitality REIT Fund's Beneish M-Score compare to HST and RHP?
According to the REITs industry distribution chart, Alinma Hospitality REIT Fund ranks #999999 out of 754 companies for Beneish M-Score. This places Alinma Hospitality REIT Fund 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 Alinma Hospitality REIT Fund and its competitors. Alinma Hospitality REIT Fund'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 Alinma Hospitality REIT Fund stock overvalued right now?
Alinma Hospitality REIT Fund (SAU:4349) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Alinma Hospitality REIT Fund's overall GF Score™ is 33/100 with 1 warning sign 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 Alinma Hospitality REIT Fund (SAU:4349), the current Beneish M-Score is 0.00 as of Jul. 23, 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.

Alinma Hospitality REIT Fund Business Description

Industry Real EstateREITs
Address King Fahad Road, P.O. Box 55560, Al Anoud Tower 2, Riyadh, SAU, 11544
Alinma Hospitality REIT Fund is a closed-ended real estate investment Fund. The fund aims to invest in real estate assets. It mainly focuses on the hotel sector within the Kingdom of Saudi Arabia. The fund currently invests in three hotels in the city of Riyadh (three hotels) and Jeddah City (two hotels). Its revenue from investment properties is concentrated within one operating segment and geographical region of the Kingdom of Saudi Arabia, comprised of operating lease rental income generated from five investment properties.
33GF Score

Get the complete analysis for SAU:4349

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

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