Olimpo Real Estate Portugal SIGI (XLIS:MLORE) Beneish M-Score: -2.54 (As of Jul. 13, 2026)

What is Olimpo Real Estate Portugal SIGI Beneish M-Score?

Olimpo Real Estate Portugal SIGI XLIS:MLORE 74 Beneish M-Score is -2.54 as of Jul. 13, 2026. GuruFocus rates XLIS:MLORE with a GF Score™ of 74/100 and a GF Value™ of €3.98. The stock has 7 warning signs investors should review.

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 -2.54 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Olimpo Real Estate Portugal SIGI's Beneish M-Score or its related term are showing as below:

XLIS:MLORE' s Beneish M-Score Range Over the Past 10 Years
Min: -2.98 Med: -2.54 Max: -0.47
Current: -2.54

During the past 7 years, the highest Beneish M-Score of Olimpo Real Estate Portugal SIGI was -0.47. The lowest was -2.98. And the median was -2.54.

Olimpo Real Estate Portugal SIGI Beneish M-Score Related Terms

Olimpo Real Estate Portugal SIGI Beneish M-Score Historical Data

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The historical data trend for Olimpo Real Estate Portugal SIGI'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.

Olimpo Real Estate Portugal SIGI Beneish M-Score Chart

Olimpo Real Estate Portugal SIGI Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Beneish M-Score

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-0.47

-2.01

-2.91

-2.98

-2.54

Olimpo Real Estate Portugal SIGI Semi-Annual Data
	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Beneish M-Score	Get a 7-Day Free Trial								-2.91	0.00	-2.98	0.00	-2.54

XLIS:MLORE vs VICI, WPC, BNL: Beneish M-Score Comparison

For the REIT - Diversified subindustry, Olimpo Real Estate Portugal SIGI'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.

Olimpo Real Estate Portugal SIGI Beneish M-Score vs REITs Industry

For the REITs industry and Real Estate sector, Olimpo Real Estate Portugal SIGI's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Olimpo Real Estate Portugal SIGI's Beneish M-Score falls into.

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74GF Score

Olimpo Real Estate Portugal SIGI SA XLIS:MLORE

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

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Olimpo Real Estate Portugal SIGI 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 Olimpo Real Estate Portugal SIGI 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 * 1.1045

0.528 * 1

0.404 * 0.9997

0.892 * 1.0247

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.037332

0.327 * 1.0252

-2.54

This Year (Dec25) TTM:

Last Year (Dec24) TTM:

Total Receivables was €0.10 Mil.
Revenue was €5.51 Mil.
Gross Profit was €4.48 Mil.
Total Current Assets was €2.35 Mil.
Total Assets was €82.74 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.57 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €3.09 Mil.
Long-Term Debt & Capital Lease Obligation was €36.06 Mil.
Net Income was €1.36 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €4.45 Mil.

Total Receivables was €0.09 Mil.
Revenue was €5.38 Mil.
Gross Profit was €4.37 Mil.
Total Current Assets was €2.38 Mil.
Total Assets was €84.59 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.57 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €0.82 Mil.
Long-Term Debt & Capital Lease Obligation was €38.23 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)
	=	(0.103 / 5.51)	/	(0.091 / 5.377)
	=	0.018693	/	0.016924
	=	1.1045

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)
	=	(4.369 / 5.377)	/	(4.477 / 5.51)
	=	0.812535	/	0.812523
	=	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 - (2.351 + 0) / 82.743)	/	(1 - (2.377 + 0) / 84.589)
	=	0.971587	/	0.971899
	=	0.9997

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
	=	5.51	/	5.377
	=	1.0247

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))
	=	(1.57 / (1.57 + 0))	/	(1.57 / (1.57 + 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 / 5.51)	/	(0 / 5.377)
	=	0	/	0
	=	1

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)
	=	((36.063 + 3.09) / 82.743)	/	((38.228 + 0.816) / 84.589)
	=	0.473188	/	0.461573
	=	1.0252

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
	=	(1.358 - 0	-	4.447)	/	82.743
	=	-0.037332

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.

Olimpo Real Estate Portugal SIGI has a M-score of -2.54 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 -2.54 mean?

Olimpo Real Estate Portugal SIGI (XLIS:MLORE) has a Beneish M-Score of -2.54 as of Jul. 13, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Olimpo Real Estate Portugal SIGI and its competitors.

Is Olimpo Real Estate Portugal SIGI's Beneish M-Score too high?

Olimpo Real Estate Portugal SIGI's current Beneish M-Score is -2.54. Overall, Olimpo Real Estate Portugal SIGI has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.

How does Olimpo Real Estate Portugal SIGI's Beneish M-Score compare to VICI and WPC?

Olimpo Real Estate Portugal SIGI's Beneish M-Score of -2.54 can be compared against companies in the REITs 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 Olimpo Real Estate Portugal SIGI and its competitors. Olimpo Real Estate Portugal SIGI's current Beneish M-Score is -2.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Olimpo Real Estate Portugal SIGI stock overvalued right now?

Olimpo Real Estate Portugal SIGI (XLIS:MLORE) has a current Beneish M-Score of -2.54. The stock's GF Value™ is €3.98, compared to a current price of €3.70 — trading 7% below its estimated fair value. The current Beneish M-Score is -2.54. Olimpo Real Estate Portugal SIGI's overall GF Score™ is 74/100 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 Olimpo Real Estate Portugal SIGI (XLIS:MLORE), the current Beneish M-Score is -2.54 as of Jul. 13, 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 Olimpo Real Estate Portugal SIGI (XLIS:MLORE) Overvalued in 2026?

Based on GuruFocus' analysis, Olimpo Real Estate Portugal SIGI stock appears to be undervalued. The current stock price of €3.70 is trading 7% below its estimated GF Value™ of €3.98.

Key valuation signals for XLIS:MLORE:

Beneish M-Score: -2.54
GF Value™: €3.98 vs. price of €3.70 (7% below fair value)
GF Score™: 74/100 with 7 warning signs

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

Olimpo Real Estate Portugal SIGI Business Description

Industry Real Estate REITs

Comparable Companies ASX:GMG VICI BSP:HSRE11 WPC ASX:SGP XPAR:COV ASX:CHC ASX:GPT MEX:FUNO11 LSE:LAND ASX:MGR LSE:BLND XKLS:5235SS TSE:8972 TSE:8984 BNL TSE:8960 SGX:T82U JSE:GRT LSE:UTG

Address Lugar do Espido, Via Norte, Miaia, PRT, 4471-909

Website https://www.ores-portugal.com

Olimpo Real Estate Portugal SIGI SA is a real estate investment and asset management company. The company's objectives are to acquire offices and commercial real estate assets with long-term growth potential in the Portuguese and Spanish markets.

74GF Score

Get the complete analysis for XLIS:MLORE

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

€3.70

Price

€3.98

GF Value

View XLIS:MLORE Analysis

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