LendInvest Beneish M-Score Historical Data
The historical data trend for LendInvest'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.
LendInvest Beneish M-Score Chart
|
LendInvest Annual Data
|
|
Trend |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
- |
- |
-1.45 |
-1.13 |
-2.01 |
|
LendInvest Semi-Annual Data
|
|
Mar19 |
Mar20 |
Sep20 |
Mar21 |
Sep21 |
Mar22 |
Sep22 |
Mar23 |
Sep23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
- |
-1.13 |
- |
-2.01 |
- |
Competitive Comparison of LendInvest's Beneish M-Score
For the Mortgage Finance subindustry, LendInvest'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.
LendInvest's Beneish M-Score Distribution in the Banks Industry
For the Banks industry and Financial Services sector, LendInvest's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where LendInvest's Beneish M-Score falls into.
LendInvest 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 LendInvest 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 * 0.9584 | + | 0.528 * 0.9996 | + | 0.404 * 2.2886 | + | 0.892 * 0.9692 | + | 0.115 * 1.0208 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1159 | + | 4.679 * 0.007998 | - | 0.327 * 1.0225 |
| = | -2.01 |
* 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 £1,127.80 Mil.
Revenue was £84.90 Mil.
Gross Profit was £47.80 Mil.
Total Current Assets was £1,174.50 Mil.
Total Assets was £1,262.80 Mil.
Property, Plant and Equipment(Net PPE) was £2.20 Mil.
Depreciation, Depletion and Amortization(DDA) was £2.70 Mil.
Selling, General, & Admin. Expense(SGA) was £34.50 Mil.
Total Current Liabilities was £24.80 Mil.
Long-Term Debt & Capital Lease Obligation was £1,161.50 Mil.
Net Income was £11.40 Mil.
Gross Profit was £0.00 Mil.
Cash Flow from Operations was £1.30 Mil.
|
Total Receivables was £1,214.20 Mil.
Revenue was £87.60 Mil.
Gross Profit was £49.30 Mil.
Total Current Assets was £1,332.40 Mil.
Total Assets was £1,376.20 Mil.
Property, Plant and Equipment(Net PPE) was £2.80 Mil.
Depreciation, Depletion and Amortization(DDA) was £3.60 Mil.
Selling, General, & Admin. Expense(SGA) was £31.90 Mil.
Total Current Liabilities was £47.20 Mil.
Long-Term Debt & Capital Lease Obligation was £1,217.20 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) |
| = | (1127.8 / 84.9) | / | (1214.2 / 87.6) |
| = | 13.283863 | / | 13.860731 |
| | = | 0.9584 |
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) |
| = | (49.3 / 87.6) | / | (47.8 / 84.9) |
| = | 0.562785 | / | 0.563015 |
| | = | 0.9996 |
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 - (1174.5 + 2.2) / 1262.8) | / | (1 - (1332.4 + 2.8) / 1376.2) |
| = | 0.068182 | / | 0.029792 |
| | = | 2.2886 |
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 |
| = | 84.9 | / | 87.6 |
| | = | 0.9692 |
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)) |
| = | (3.6 / (3.6 + 2.8)) | / | (2.7 / (2.7 + 2.2)) |
| = | 0.5625 | / | 0.55102 |
| | = | 1.0208 |
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) |
| = | (34.5 / 84.9) | / | (31.9 / 87.6) |
| = | 0.40636 | / | 0.364155 |
| | = | 1.1159 |
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) |
| = | ((1161.5 + 24.8) / 1262.8) | / | ((1217.2 + 47.2) / 1376.2) |
| = | 0.93942 | / | 0.918762 |
| | = | 1.0225 |
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 |
| = | (11.4 - 0 | - | 1.3) | / | 1262.8 |
| | = | 0.007998 |
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.
LendInvest has a M-score of -2.01 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
LSE:LINV has been successfully added to your