Marathon Bancorp (Marathon Bancorp) Beneish M-Score : -3.73 (As of May. 29, 2024)

View and export this data going back to 2021. Start your Free Trial

What is Marathon Bancorp Beneish M-Score?

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.

Good Sign:

Beneish M-Score -3.73 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Marathon Bancorp's Beneish M-Score or its related term are showing as below:

MBBC' s Beneish M-Score Range Over the Past 10 Years
Min: -3.73 Med: -2.28 Max: -1.98
Current: -3.73

During the past 4 years, the highest Beneish M-Score of Marathon Bancorp was -1.98. The lowest was -3.73. And the median was -2.28.

Marathon Bancorp 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 Marathon Bancorp 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 * 1.0996

0.528 * 1

0.404 * 0.991

0.892 * 0.9187

0.115 * 1.1558

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0534

4.679 * -0.0031

0.327 * 4.8541

-3.73

* 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 $0.59 Mil.
Revenue was 1.552 + 1.662 + 1.792 + 2.045 = $7.05 Mil.
Gross Profit was 1.552 + 1.662 + 1.792 + 2.045 = $7.05 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $225.82 Mil.
Property, Plant and Equipment(Net PPE) was $4.12 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.33 Mil.
Selling, General, & Admin. Expense(SGA) was $3.30 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $23.00 Mil.
Net Income was -0.631 + 0.272 + 0.086 + 0.494 = $0.22 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -0.802 + 0.623 + 0.367 + 0.733 = $0.92 Mil.

Total Receivables was $0.59 Mil.
Revenue was 1.909 + 1.883 + 2.073 + 1.81 = $7.68 Mil.
Gross Profit was 1.909 + 1.883 + 2.073 + 1.81 = $7.68 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $238.29 Mil.
Property, Plant and Equipment(Net PPE) was $2.21 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.21 Mil.
Selling, General, & Admin. Expense(SGA) was $3.41 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $5.00 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)
	=	(0.594 / 7.051)	/	(0.588 / 7.675)
	=	0.084243	/	0.076612
	=	1.0996

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)
	=	(7.675 / 7.675)	/	(7.051 / 7.051)
	=	1	/	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 + 4.116) / 225.816)	/	(1 - (0 + 2.207) / 238.291)
	=	0.981773	/	0.990738
	=	0.991

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
	=	7.051	/	7.675
	=	0.9187

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))
	=	(0.209 / (0.209 + 2.207))	/	(0.333 / (0.333 + 4.116))
	=	0.086507	/	0.074848
	=	1.1558

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)
	=	(3.3 / 7.051)	/	(3.41 / 7.675)
	=	0.468019	/	0.4443
	=	1.0534

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)
	=	((23 + 0) / 225.816)	/	((5 + 0) / 238.291)
	=	0.101853	/	0.020983
	=	4.8541

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
	=	(0.221 - 0	-	0.921)	/	225.816
	=	-0.0031

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.

Marathon Bancorp has a M-score of -3.73 suggests that the company is unlikely to be a manipulator.

Marathon Bancorp Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Marathon Bancorp's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Marathon Bancorp (Marathon Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Marathon Bancorp Inc (OTCPK:MBBC) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

500 Scott Street, Wausau, WI, USA, 54403

Website

https://www.marathonbancorp.com

Marathon Bancorp Inc is a Wisconsin-chartered savings bank. It is a community-oriented bank offering a variety of financial products and services to meet the needs of customers. The primary deposit products are demand deposits, savings, and certificates of deposits; and prime lending products are commercial real estate, commercial and industrial, construction, one-to-four-family residential, multifamily real estate, and consumer loans. The majority of the Company's revenues come from interest income on loans and debt securities available for sale.

Executives

Nicholas W Zillges	director, officer: President and CEO	500 SCOTT STREET, WAUSAU WI 54403
Joy Selting-buchberger	officer: SVP and CFO	500 SCOTT STREET, WAUSAU WI 54403
Michelle Knopf	officer: EVP/Dir. of Mortgage Services	500 SCOTT STREET, WAUSAU WI 54403
Terry Cornish	officer: SVP and CCO	500 SCOTT STREET, WAUSAU WI 54403
Nora Spatz	officer: EVP and CAO	500 SCOTT STREET, WAUSAU WI 54403
Amy Zientara	director, other: Chairwoman of the Board	500 SCOTT STREET, WAUSAU WI 54403
Thomas L Grimm	director	500 SCOTT STREET, WAUSAU WI 54403
Timothy R Wimmer	director	500 SCOTT STREET, WAUSAU WI 54403
Ann M Werth	director	500 SCOTT STREET, WAUSAU WI 54403
Thomas Terwilliger	director	500 SCOTT STREET, WAUSAU WI 54403
Mhc Marathon	10 percent owner	500 SCOTT STREET, WAUSAU WI 54403