SAMHI Hotels Beneish M-Score Historical Data
The historical data trend for SAMHI Hotels'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.
SAMHI Hotels Beneish M-Score Chart
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SAMHI Hotels Annual Data
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Trend |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
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-2.97 |
-3.19 |
-3.34 |
-3.06 |
-0.29 |
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SAMHI Hotels Semi-Annual Data
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Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Sep22 |
Mar23 |
Sep23 |
| Beneish M-Score |
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|
-3.34 |
-3.06 |
-0.74 |
-0.29 |
3.26 |
Competitive Comparison of SAMHI Hotels's Beneish M-Score
For the Lodging subindustry, SAMHI Hotels'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.
SAMHI Hotels's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, SAMHI Hotels's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where SAMHI Hotels's Beneish M-Score falls into.
SAMHI Hotels 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 SAMHI Hotels 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 * 0.8571 | + | 0.528 * 0.7472 | + | 0.404 * 4.1648 | + | 0.892 * 2.8903 | + | 0.115 * 1.3457 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * -0.166869 | - | 0.327 * 0.8209 |
| = | -0.29 |
* 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 (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was ₹689 Mil.
Revenue was ₹9,328 Mil.
Gross Profit was ₹6,954 Mil.
Total Current Assets was ₹3,064 Mil.
Total Assets was ₹34,958 Mil.
Property, Plant and Equipment(Net PPE) was ₹26,591 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹963 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹10,056 Mil.
Long-Term Debt & Capital Lease Obligation was ₹23,886 Mil.
Net Income was ₹-3,659 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹2,174 Mil.
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Total Receivables was ₹278 Mil.
Revenue was ₹3,227 Mil.
Gross Profit was ₹1,798 Mil.
Total Current Assets was ₹2,607 Mil.
Total Assets was ₹23,866 Mil.
Property, Plant and Equipment(Net PPE) was ₹20,390 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,006 Mil.
Selling, General, & Admin. Expense(SGA) was ₹383 Mil.
Total Current Liabilities was ₹4,053 Mil.
Long-Term Debt & Capital Lease Obligation was ₹24,173 Mil.
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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) |
| = | (689.2 / 9328.09) | / | (278.21 / 3227.43) |
| = | 0.073884 | / | 0.086202 |
| | = | 0.8571 |
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) |
| = | (1797.74 / 3227.43) | / | (6954.16 / 9328.09) |
| = | 0.557019 | / | 0.745507 |
| | = | 0.7472 |
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 - (3064.26 + 26591) / 34958.4) | / | (1 - (2606.71 + 20389.76) / 23865.76) |
| = | 0.151699 | / | 0.036424 |
| | = | 4.1648 |
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 |
| = | 9328.09 | / | 3227.43 |
| | = | 2.8903 |
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)) |
| = | (1006.03 / (1006.03 + 20389.76)) | / | (962.77 / (962.77 + 26591)) |
| = | 0.04702 | / | 0.034941 |
| | = | 1.3457 |
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 / 9328.09) | / | (383.06 / 3227.43) |
| = | 0 | / | 0.118689 |
| | = | 0 |
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) |
| = | ((23885.74 + 10056.01) / 34958.4) | / | ((24173.19 + 4053.22) / 23865.76) |
| = | 0.970918 | / | 1.182716 |
| | = | 0.8209 |
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 |
| = | (-3659.03 - 0 | - | 2174.46) | / | 34958.4 |
| | = | -0.166869 |
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.
SAMHI Hotels has a M-score of -0.29 signals that the company is likely to be a manipulator.
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