Capelli (XPAR:ALCAP) Beneish M-Score: 0.00 (As of Jun. 24, 2026)


XPAR:ALCAP Capelli XPAR:ALCAP
4 GF Score
Price €3.08
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What is Capelli Beneish M-Score?

Capelli XPAR:ALCAP 4 Beneish M-Score is 0.00 as of Jun. 24, 2026. GuruFocus rates XPAR:ALCAP with a GF Score™ of 4/100.

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 Capelli's Beneish M-Score or its related term are showing as below:

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

Capelli Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Capelli'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.

Capelli Beneish M-Score Chart

Capelli Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.89 -2.54 -1.76 -2.03 -1.79

Capelli Semi-Annual Data
Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24
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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -1.76 0.00 -2.03 0.00 -1.79

Capelli Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Capelli'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.

Capelli Beneish M-Score vs Real Estate Industry

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

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


XPAR:ALCAP
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Capelli XPAR:ALCAP
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Capelli 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 Capelli 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 * 1.4095+0.528 * 3.4357+0.404 * 1.2371+0.892 * 0.3322+0.115 * 0.69
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1+4.679 * -0.089436-0.327 * 1.0674
=-1.79

* 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 (Mar24) TTM:Last Year (Mar23) TTM:
Total Receivables was €100.53 Mil.
Revenue was €66.99 Mil.
Gross Profit was €4.26 Mil.
Total Current Assets was €627.18 Mil.
Total Assets was €671.05 Mil.
Property, Plant and Equipment(Net PPE) was €18.31 Mil.
Depreciation, Depletion and Amortization(DDA) was €5.08 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €415.26 Mil.
Long-Term Debt & Capital Lease Obligation was €215.73 Mil.
Net Income was €-52.77 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €7.25 Mil.
 Total Receivables was €214.69 Mil.
Revenue was €201.64 Mil.
Gross Profit was €44.10 Mil.
Total Current Assets was €807.24 Mil.
Total Assets was €859.12 Mil.
Property, Plant and Equipment(Net PPE) was €25.43 Mil.
Depreciation, Depletion and Amortization(DDA) was €4.48 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €538.30 Mil.
Long-Term Debt & Capital Lease Obligation was €218.53 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)
=(100.531 / 66.991) / (214.687 / 201.642)
=1.500664 / 1.064694
=1.4095

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)
=(44.095 / 201.642) / (4.264 / 66.991)
=0.21868 / 0.06365
=3.4357

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 - (627.176 + 18.306) / 671.048) / (1 - (807.235 + 25.425) / 859.119)
=0.038099 / 0.030798
=1.2371

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
=66.991 / 201.642
=0.3322

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))
=(4.484 / (4.484 + 25.425)) / (5.082 / (5.082 + 18.306))
=0.149921 / 0.217291
=0.69

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 / 66.991) / (0 / 201.642)
=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)
=((215.733 + 415.264) / 671.048) / ((218.53 + 538.297) / 859.119)
=0.940316 / 0.880934
=1.0674

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
=(-52.771 - 0 - 7.245) / 671.048
=-0.089436

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.

Capelli has a M-score of -1.79 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 0.00 mean?
Capelli (XPAR:ALCAP) 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 Capelli and its competitors.
Is Capelli's Beneish M-Score too high?
Capelli's current Beneish M-Score is 0.00. Overall, Capelli has a GF Score™ of 4/100, reflecting its overall financial health beyond just this single metric.
How does Capelli's Beneish M-Score compare to competitors?
Capelli's Beneish M-Score of 0.00 can be compared against companies in the Real Estate 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 Capelli and its competitors. Capelli'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 Capelli stock overvalued right now?
Capelli (XPAR:ALCAP) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. Capelli's overall GF Score™ is 4/100. 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 Capelli (XPAR:ALCAP), 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.

Capelli Business Description

Address 2 Bis Chemin du Coulouvrier ZI du Tronchon, Champagne au Mont d\'Or, FRA, 69410
Capelli SA is a France-based company involved in the real estate development sector. It focuses on property development and real estate promotion. The company, along with its subsidiaries, is active in the provision of housing construction for groups and individuals and carrying out the development of land areas (plots of building land).
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