SEG (Seaport Entertainment Group) Beneish M-Score: -1.63 (As of Jun. 25, 2026)


SEG Seaport Entertainment Group Inc SEG
13 GF Score
Price $26.35
! 6 Warning Signs
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What is Seaport Entertainment Group Beneish M-Score?

Seaport Entertainment Group SEG -2.48% 13 Beneish M-Score is -1.63 as of Jun. 25, 2026. GuruFocus rates SEG with a GF Score™ of 13/100. The stock has 6 warning signs investors should review. Among 1,682 Real Estate companies, Seaport Entertainment Group ranks worse than 77.29% 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.

Warning Sign:

Beneish M-Score -1.63 higher than -1.78, which implies that the company might have manipulated its financial results.

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

SEG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.5   Med: -2.35   Max: 4.19
Current: -1.63

During the past 5 years, the highest Beneish M-Score of Seaport Entertainment Group was 4.19. The lowest was -3.50. And the median was -2.35.

Seaport Entertainment Group Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Seaport Entertainment Group'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.

Seaport Entertainment Group Beneish M-Score Chart

Seaport Entertainment Group Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Beneish M-Score
0.00 0.00 0.00 -3.50 4.19

Seaport Entertainment Group Quarterly Data
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 -2.50 -2.58 -2.19 4.19 -1.63

SEG vs TCI, MLP, RMR: Beneish M-Score Comparison

For the Real Estate Services subindustry, Seaport Entertainment Group'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.

Seaport Entertainment Group Beneish M-Score vs Real Estate Industry

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

* The bar in red indicates where Seaport Entertainment Group's Beneish M-Score falls into.


SEG
13GF Score
Seaport Entertainment Group Inc SEG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Seaport Entertainment Group 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 Seaport Entertainment Group 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 * 0.5343+0.528 * 4.4044+0.404 * 0.8711+0.892 * 1.1368+0.115 * 0.9599
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.6393+4.679 * -0.146311-0.327 * 0.8913
=-1.63

* 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 $6.9 Mil.
Revenue was 12.737 + 29.488 + 45.05 + 39.801 = $127.1 Mil.
Gross Profit was -4.778 + -2.724 + 4.846 + 6.675 = $4.0 Mil.
Total Current Assets was $155.7 Mil.
Total Assets was $541.8 Mil.
Property, Plant and Equipment(Net PPE) was $44.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $44.2 Mil.
Selling, General, & Admin. Expense(SGA) was $41.1 Mil.
Total Current Liabilities was $23.8 Mil.
Long-Term Debt & Capital Lease Obligation was $95.0 Mil.
Net Income was -44.103 + -36.866 + -33.214 + -14.774 = $-129.0 Mil.
Non Operating Income was -1.303 + -6.81 + -2.826 + 0.782 = $-10.2 Mil.
Cash Flow from Operations was -10.348 + -23.098 + -5.328 + -0.754 = $-39.5 Mil.
 Total Receivables was $11.3 Mil.
Revenue was 16.069 + 22.612 + 39.43 + 33.67 = $111.8 Mil.
Gross Profit was -6.75 + 2.77 + 10.499 + 9.052 = $15.6 Mil.
Total Current Assets was $160.6 Mil.
Total Assets was $718.4 Mil.
Property, Plant and Equipment(Net PPE) was $38.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $34.8 Mil.
Selling, General, & Admin. Expense(SGA) was $56.5 Mil.
Total Current Liabilities was $27.8 Mil.
Long-Term Debt & Capital Lease Obligation was $148.9 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)
=(6.886 / 127.076) / (11.336 / 111.781)
=0.054188 / 0.101413
=0.5343

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)
=(15.571 / 111.781) / (4.019 / 127.076)
=0.139299 / 0.031627
=4.4044

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 - (155.711 + 44.657) / 541.805) / (1 - (160.611 + 38.078) / 718.414)
=0.630184 / 0.723434
=0.8711

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
=127.076 / 111.781
=1.1368

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))
=(34.802 / (34.802 + 38.078)) / (44.212 / (44.212 + 44.657))
=0.477525 / 0.497496
=0.9599

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)
=(41.059 / 127.076) / (56.497 / 111.781)
=0.323106 / 0.505426
=0.6393

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)
=((94.966 + 23.835) / 541.805) / ((148.913 + 27.825) / 718.414)
=0.219269 / 0.246011
=0.8913

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
=(-128.957 - -10.157 - -39.528) / 541.805
=-0.146311

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.

Seaport Entertainment Group has a M-score of -1.63 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 -1.63 mean?
Seaport Entertainment Group (SEG) has a Beneish M-Score of -1.63 as of Jun. 25, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Seaport Entertainment Group and its competitors. According to the industry distribution chart, Seaport Entertainment Group ranks #1300 out of 1682 companies in the Real Estate industry, placing it in the top 77.3%.
Is Seaport Entertainment Group's Beneish M-Score too high?
Seaport Entertainment Group's current Beneish M-Score is -1.63. Based on the distribution chart, Seaport Entertainment Group ranks #1300 out of 1682 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Seaport Entertainment Group has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Seaport Entertainment Group's Beneish M-Score compare to TCI and MLP?
According to the Real Estate industry distribution chart, Seaport Entertainment Group ranks #1300 out of 1682 companies for Beneish M-Score. This places Seaport Entertainment Group 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 Seaport Entertainment Group and its competitors. Seaport Entertainment Group's current Beneish M-Score is -1.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Seaport Entertainment Group stock overvalued right now?
Seaport Entertainment Group (SEG) has a current Beneish M-Score of -1.63. The current Beneish M-Score is -1.63. Seaport Entertainment Group's overall GF Score™ is 13/100 with 6 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 Seaport Entertainment Group (SEG), the current Beneish M-Score is -1.63 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.

Seaport Entertainment Group Business Description

Other Exchanges 7U8:Germany
Address 199 Water Street, 28th Floor, New York, NY, USA, 10038
Seaport Entertainment Group Inc owns, operates, and develops a collection of assets positioned at the intersection of entertainment and real estate. Its objective is to integrate one-of-a-kind real estate assets with a variety of restaurant, retail, and leisure offerings to form vibrant mixed-use destinations where customers can work, play, and socialize in one cohesive setting. The company has three operating segments: Landlord Operations, Hospitality, and Entertainment. Key revenue is generated from Entertainment, which consists of baseball operations of the Aviators and Las Vegas Ballpark, along with sponsorships, events, and other revenue generated at the Seaport in New York.
13GF Score

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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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