Samhallsbyggnadsbolaget i Norden AB (OSTO:SBB B) Beneish M-Score : -4.15 (As of Jun. 08, 2024)

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What is Samhallsbyggnadsbolaget i Norden AB Beneish M-Score?

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 -4.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Samhallsbyggnadsbolaget i Norden AB's Beneish M-Score or its related term are showing as below:

OSTO:SBB B' s Beneish M-Score Range Over the Past 10 Years
Min: -4.37 Med: -1.87 Max: 37.53
Current: -4.15

During the past 10 years, the highest Beneish M-Score of Samhallsbyggnadsbolaget i Norden AB was 37.53. The lowest was -4.37. And the median was -1.87.

Samhallsbyggnadsbolaget i Norden AB Beneish M-Score Historical Data

The historical data trend for Samhallsbyggnadsbolaget i Norden AB'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.

* Premium members only.

Samhallsbyggnadsbolaget i Norden AB Beneish M-Score Chart

Samhallsbyggnadsbolaget i Norden AB Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.08

-0.25

-2.23

-3.39

-4.11

Samhallsbyggnadsbolaget i Norden AB Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-3.16	-3.82	-4.37	-4.11	-4.15

Competitive Comparison of Samhallsbyggnadsbolaget i Norden AB's Beneish M-Score

For the Real Estate Services subindustry, Samhallsbyggnadsbolaget i Norden AB'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.

Samhallsbyggnadsbolaget i Norden AB's Beneish M-Score Distribution in the Real Estate Industry

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

* The bar in red indicates where Samhallsbyggnadsbolaget i Norden AB's Beneish M-Score falls into.

Samhallsbyggnadsbolaget i Norden AB 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 Samhallsbyggnadsbolaget i Norden AB 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 * 0.4044

0.528 * 0.9583

0.404 * 1.0012

0.892 * 0.8976

0.115 * 1.0628

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.3038

4.679 * -0.194122

0.327 * 1.1782

-4.15

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was kr1,015 Mil.
Revenue was 1109 + 1069 + 1195 + 1747 = kr5,120 Mil.
Gross Profit was 736 + 712 + 928 + 1323 = kr3,699 Mil.
Total Current Assets was kr5,132 Mil.
Total Assets was kr102,389 Mil.
Property, Plant and Equipment(Net PPE) was kr101 Mil.
Depreciation, Depletion and Amortization(DDA) was kr9 Mil.
Selling, General, & Admin. Expense(SGA) was kr962 Mil.
Total Current Liabilities was kr18,651 Mil.
Long-Term Debt & Capital Lease Obligation was kr46,419 Mil.
Net Income was -1050 + -3063 + -4669 + -8744 = kr-17,526 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0 Mil.
Cash Flow from Operations was -112 + 1202 + 810 + 450 = kr2,350 Mil.

Total Receivables was kr2,796 Mil.
Revenue was 1153 + 1309 + 1364 + 1878 = kr5,704 Mil.
Gross Profit was 743 + 784 + 1017 + 1405 = kr3,949 Mil.
Total Current Assets was kr8,635 Mil.
Total Assets was kr167,380 Mil.
Property, Plant and Equipment(Net PPE) was kr105 Mil.
Depreciation, Depletion and Amortization(DDA) was kr10 Mil.
Selling, General, & Admin. Expense(SGA) was kr822 Mil.
Total Current Liabilities was kr20,152 Mil.
Long-Term Debt & Capital Lease Obligation was kr70,134 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)
	=	(1015 / 5120)	/	(2796 / 5704)
	=	0.198242	/	0.490182
	=	0.4044

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)
	=	(3949 / 5704)	/	(3699 / 5120)
	=	0.692321	/	0.722461
	=	0.9583

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 - (5132 + 101) / 102389)	/	(1 - (8635 + 105) / 167380)
	=	0.948891	/	0.947783
	=	1.0012

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
	=	5120	/	5704
	=	0.8976

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))
	=	(10 / (10 + 105))	/	(9 / (9 + 101))
	=	0.086957	/	0.081818
	=	1.0628

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)
	=	(962 / 5120)	/	(822 / 5704)
	=	0.187891	/	0.144109
	=	1.3038

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)
	=	((46419 + 18651) / 102389)	/	((70134 + 20152) / 167380)
	=	0.635517	/	0.539407
	=	1.1782

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
	=	(-17526 - 0	-	2350)	/	102389
	=	-0.194122

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.

Samhallsbyggnadsbolaget i Norden AB has a M-score of -4.15 suggests that the company is unlikely to be a manipulator.

Samhallsbyggnadsbolaget i Norden AB Beneish M-Score Related Terms

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Samhallsbyggnadsbolaget i Norden AB (OSTO:SBB B) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Samhallsbyggnadsbolaget i Norden AB (OSTO:SBB B) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

SBB D:Sweden 0AAS:UK SBBBs:UK JSI:Germany

Address

Strandvagen 1, Stockholm, SWE, 114 51

Website

https://www.sbbnorden.se

Samhallsbyggnadsbolaget i Norden AB owns residential and public buildings throughout Sweden and its basic concept are to own and manage the long-term. Its business segments include Residential properties, Community service properties and Other properties.

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