Clairvest Group (TSX:CVG) Beneish M-Score: 0.00 (As of Jun. 24, 2026)


TSX:CVG Clairvest Group Inc TSX:CVG
67 GF Score
Price C$75.01
GF Value C$77.85
Valuation Fairly Valued
! 1 Warning Sign
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What is Clairvest Group Beneish M-Score?

Clairvest Group TSX:CVG 67 Beneish M-Score is 0.00 as of Jun. 24, 2026. GuruFocus rates TSX:CVG with a GF Score™ of 67/100 and a GF Value™ of C$77.85 (Fairly Valued). The stock has 1 warning sign investors should review. Among 955 Asset Management companies, Clairvest Group ranks worse than 104711.94% 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 Clairvest Group's Beneish M-Score or its related term are showing as below:

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

TSX:CVG
67GF Score
Clairvest Group Inc TSX:CVG
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Clairvest 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 Clairvest 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 * +0.528 * +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 C$101.3 Mil.
Revenue was 128.163 + -84.984 + 39.254 + 32.045 = C$114.5 Mil.
Gross Profit was 128.163 + -84.984 + 39.254 + 32.045 = C$114.5 Mil.
Total Current Assets was C$0.0 Mil.
Total Assets was C$1,406.4 Mil.
Property, Plant and Equipment(Net PPE) was C$10.6 Mil.
Depreciation, Depletion and Amortization(DDA) was C$1.5 Mil.
Selling, General, & Admin. Expense(SGA) was C$0.0 Mil.
Total Current Liabilities was C$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.0 Mil.
Net Income was 105.114 + -76.75 + 21.336 + 20.721 = C$70.4 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = C$0.0 Mil.
Cash Flow from Operations was 84.943 + -5.286 + -11.401 + 1.387 = C$69.6 Mil.
 Total Receivables was C$113.5 Mil.
Revenue was 51.28 + 52.107 + 36.94 + 38.771 = C$179.1 Mil.
Gross Profit was 51.28 + 52.107 + 36.94 + 38.771 = C$179.1 Mil.
Total Current Assets was C$0.0 Mil.
Total Assets was C$1,408.7 Mil.
Property, Plant and Equipment(Net PPE) was C$5.8 Mil.
Depreciation, Depletion and Amortization(DDA) was C$1.4 Mil.
Selling, General, & Admin. Expense(SGA) was C$1.6 Mil.
Total Current Liabilities was C$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was C$0.0 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)
=(101.325 / 114.478) / (113.521 / 179.098)
=0.885105 / 0.633849
=

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)
=(179.098 / 179.098) / (114.478 / 114.478)
=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 + 10.567) / 1406.365) / (1 - (0 + 5.78) / 1408.658)
=0.992486 / 0.995897
=

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
=114.478 / 179.098
=

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))
=(1.391 / (1.391 + 5.78)) / (1.507 / (1.507 + 10.567))
=0.193976 / 0.124814
=

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 / 114.478) / (1.599 / 179.098)
=0 / 0.008928
=

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) / 1406.365) / ((0 + 0) / 1408.658)
=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
=(70.421 - 0 - 69.643) / 1406.365
=0.000553

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?
Clairvest Group (TSX:CVG) has a Beneish M-Score of 0.00 as of Jun. 24, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Clairvest Group and its competitors. According to the industry distribution chart, Clairvest Group ranks #999999 out of 955 companies in the Asset Management industry.
Is Clairvest Group's Beneish M-Score too high?
Clairvest Group's current Beneish M-Score is 0.00. Based on the distribution chart, Clairvest Group ranks #999999 out of 955 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Clairvest Group has a GF Score™ of 67/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Clairvest Group's Beneish M-Score compare to BLK and BX?
According to the Asset Management industry distribution chart, Clairvest Group ranks #999999 out of 955 companies for Beneish M-Score. This places Clairvest 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 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 Clairvest Group and its competitors. Clairvest Group'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 Clairvest Group stock overvalued right now?
Based on GuruFocus' analysis, Clairvest Group (TSX:CVG) is currently considered Fairly Valued. The stock's GF Value™ is C$77.85, compared to a current price of C$75.01 — trading 3.6% below its estimated fair value. The current Beneish M-Score is 0.00. Clairvest Group's overall GF Score™ is 67/100 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 Clairvest Group (TSX:CVG), the current Beneish M-Score is 0.00 as of Jun. 24, 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 Clairvest Group (TSX:CVG) Overvalued in 2026?

Based on GuruFocus' analysis, Clairvest Group stock appears to be undervalued. The current stock price of C$75.01 is trading 3.6% below its estimated GF Value™ of C$77.85. GuruFocus considers Clairvest Group to be Fairly Valued.

Key valuation signals for TSX:CVG:

  • Beneish M-Score: 0.00
  • GF Value™: C$77.85 vs. price of C$75.01 (3.6% below fair value)
  • GF Score™: 67/100 with 1 warning sign

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

Clairvest Group Business Description

Address 22 St. Clair Avenue East, Suite 1700, Toronto, ON, CAN, M4T 2S3
Clairvest Group Inc is a Canadian private equity investment firm. The company invests in and partners with the management teams of businesses that have the potential to create average returns in their respective industries. It contributes financing and strategic expertise to support the growth and development of its investee companies to create realizable value for all shareholders. It invests its capital into entrepreneurial corporations.
67GF Score

Get the complete analysis for TSX:CVG

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

C$75.01
Price
C$77.85
GF Value