SJT (San Juan Basin Royalty Trust) Beneish M-Score: 0.00 (As of Jun. 26, 2026)

What is San Juan Basin Royalty Trust Beneish M-Score?

San Juan Basin Royalty Trust SJT -2.33% 39 Beneish M-Score is 0.00 as of Jun. 26, 2026. GuruFocus rates SJT with a GF Score™ of 39/100 and a GF Value™ of $0.33 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 822 Oil & Gas companies, San Juan Basin Royalty Trust ranks worse than 121654.38% 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.

The historical rank and industry rank for San Juan Basin Royalty Trust's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of San Juan Basin Royalty Trust was 2.27. The lowest was 1.58. And the median was 2.24.

San Juan Basin Royalty Trust Beneish M-Score Related Terms

San Juan Basin Royalty Trust Beneish M-Score Historical Data

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The historical data trend for San Juan Basin Royalty Trust'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.

San Juan Basin Royalty Trust Beneish M-Score Chart

San Juan Basin Royalty Trust Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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0.00

2.27

0.00

San Juan Basin Royalty Trust 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															0.00	0.00	0.00	0.00	0.00

SJT vs PED, EPSN, AMPY: Beneish M-Score Comparison

For the Oil & Gas E&P subindustry, San Juan Basin Royalty Trust'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.

San Juan Basin Royalty Trust Beneish M-Score vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, San Juan Basin Royalty Trust's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where San Juan Basin Royalty Trust's Beneish M-Score falls into.

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39GF Score

San Juan Basin Royalty Trust SJT

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

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San Juan Basin Royalty Trust 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 San Juan Basin Royalty Trust 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was $0.00 Mil.
Revenue was $0.00 Mil.
Gross Profit was $0.00 Mil.
Total Current Assets was $0.02 Mil.
Total Assets was $2.70 Mil.
Property, Plant and Equipment(Net PPE) was $2.68 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $1.14 Mil.
Total Current Liabilities was $0.39 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $-0.39 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $0.00 Mil.

Total Receivables was $0.00 Mil.
Revenue was $6.95 Mil.
Gross Profit was $6.95 Mil.
Total Current Assets was $0.76 Mil.
Total Assets was $3.44 Mil.
Property, Plant and Equipment(Net PPE) was $2.68 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $2.11 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 / 0)	/	(0 / 6.946)
	=		/	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)
	=	(6.946 / 6.946)	/	(0 / 0)
	=	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 - (0.023 + 2.678) / 2.701)	/	(1 - (0.761 + 2.678) / 3.439)
	=	0	/	0
	=

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
	=	0	/	6.946
	=

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 + 2.678))	/	(0 / (0 + 2.678))
	=	0	/	0
	=

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)
	=	(1.137 / 0)	/	(2.113 / 6.946)
	=		/	0.304204
	=

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 + 0.388) / 2.701)	/	((0 + 0) / 3.439)
	=	0.14365	/	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
	=	(-0.388 - 0	-	0)	/	2.701
	=	-0.14365

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?

San Juan Basin Royalty Trust (SJT) has a Beneish M-Score of 0.00 as of Jun. 26, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on San Juan Basin Royalty Trust and its competitors. Over the past decade, San Juan Basin Royalty Trust's Beneish M-Score has ranged from 1.58 to 2.27. According to the industry distribution chart, San Juan Basin Royalty Trust ranks #999999 out of 822 companies in the Oil & Gas industry.

Is San Juan Basin Royalty Trust's Beneish M-Score too high?

San Juan Basin Royalty Trust's current Beneish M-Score is 0.00. Over the past 10 years, this metric has ranged from a low of 1.58 to a high of 2.27. Based on the distribution chart, San Juan Basin Royalty Trust ranks #999999 out of 822 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, San Juan Basin Royalty Trust has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does San Juan Basin Royalty Trust's Beneish M-Score compare to PED and EPSN?

According to the Oil & Gas industry distribution chart, San Juan Basin Royalty Trust ranks #999999 out of 822 companies for Beneish M-Score. This places San Juan Basin Royalty Trust in the lower half of its industry. Historically, San Juan Basin Royalty Trust's own Beneish M-Score has ranged from 1.58 to 2.27 over the past decade. 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 Oil & Gas company?

A good Beneish M-Score depends on the Oil & Gas 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 San Juan Basin Royalty Trust and its competitors. San Juan Basin Royalty Trust'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 San Juan Basin Royalty Trust stock overvalued right now?

Based on GuruFocus' analysis, San Juan Basin Royalty Trust (SJT) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.33, compared to a current price of $2.93 — trading 787.9% above its estimated fair value. The current Beneish M-Score is 0.00. San Juan Basin Royalty Trust's overall GF Score™ is 39/100 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 San Juan Basin Royalty Trust (SJT), the current Beneish M-Score is 0.00 as of Jun. 26, 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.

Is San Juan Basin Royalty Trust (SJT) Overvalued in 2026?

Based on GuruFocus' analysis, San Juan Basin Royalty Trust stock appears to be overvalued. The current stock price of $2.93 is trading 787.9% above its estimated GF Value™ of $0.33. GuruFocus considers San Juan Basin Royalty Trust to be Significantly Overvalued.

Key valuation signals for SJT:

Beneish M-Score: 0.00
GF Value™: $0.33 vs. price of $2.93 (787.9% above fair value)
GF Score™: 39/100 with 1 warning sign

No single metric tells the full story. See the SJT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

San Juan Basin Royalty Trust Business Description

Industry Energy Oil & Gas

Comparable Companies PED EPSN AMPY EPM GLND ANNA INR EP PNRG PROP HKSE:00883 COP TSX:CNQ EOG OXY FANG DVN ASX:WDS EQT TPL

Address 3838 Oak Lawn Avenue, Suite 1720, Dallas, TX, USA, 75219

Website https://www.sjbrt.com

San Juan Basin Royalty Trust is an energy sector royalty trust in the United States. It owns approximately 75% net profit interest in a large number of natural gas properties in the San Juan Basin of New Mexico. About 98% of the royalties San Juan collects come from natural gas, with the balance coming from oil.

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$2.93

Price

$0.33

GF Value

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