Marcventures Holdings Beneish M-Score Historical Data
The historical data trend for Marcventures Holdings'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.
Marcventures Holdings Beneish M-Score Chart
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Marcventures Holdings Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-3.25 |
-0.93 |
-2.86 |
-3.29 |
-3.54 |
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Marcventures Holdings Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-3.66 |
-2.63 |
-2.85 |
-3.54 |
-3.28 |
Competitive Comparison of Marcventures Holdings's Beneish M-Score
For the Other Industrial Metals & Mining subindustry, Marcventures Holdings'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.
Marcventures Holdings's Beneish M-Score Distribution in the Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Marcventures Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Marcventures Holdings's Beneish M-Score falls into.
Marcventures Holdings 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 Marcventures Holdings 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 * 0.0754 | + | 0.528 * 0.7916 | + | 0.404 * 1.2579 | + | 0.892 * 0.6323 | + | 0.115 * 3.8086 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.6942 | + | 4.679 * 0.014719 | - | 0.327 * 0.6592 |
| = | -3.28 |
* 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 ₱3 Mil.
Revenue was 0 + 207.028 + 970.159 + 755.507 = ₱1,933 Mil.
Gross Profit was 0 + 118.869 + 462.099 + 231.325 = ₱812 Mil.
Total Current Assets was ₱562 Mil.
Total Assets was ₱5,687 Mil.
Property, Plant and Equipment(Net PPE) was ₱4,477 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱72 Mil.
Selling, General, & Admin. Expense(SGA) was ₱68 Mil.
Total Current Liabilities was ₱325 Mil.
Long-Term Debt & Capital Lease Obligation was ₱105 Mil.
Net Income was -91.501 + -60.072 + 263.614 + 64.744 = ₱177 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₱0 Mil.
Cash Flow from Operations was -164.516 + 303.384 + 0 + -45.791 = ₱93 Mil.
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Total Receivables was ₱61 Mil.
Revenue was 117.723 + 690.235 + 1082.214 + 1166.668 = ₱3,057 Mil.
Gross Profit was 35.027 + 133.102 + 348.806 + 500.083 = ₱1,017 Mil.
Total Current Assets was ₱996 Mil.
Total Assets was ₱6,075 Mil.
Property, Plant and Equipment(Net PPE) was ₱4,528 Mil.
Depreciation, Depletion and Amortization(DDA) was ₱290 Mil.
Selling, General, & Admin. Expense(SGA) was ₱63 Mil.
Total Current Liabilities was ₱566 Mil.
Long-Term Debt & Capital Lease Obligation was ₱130 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) |
| = | (2.924 / 1932.694) | / | (61.353 / 3056.84) |
| = | 0.001513 | / | 0.020071 |
| | = | 0.0754 |
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) |
| = | (1017.018 / 3056.84) | / | (812.293 / 1932.694) |
| = | 0.332702 | / | 0.420291 |
| | = | 0.7916 |
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 - (562.378 + 4476.536) / 5687.242) | / | (1 - (996.128 + 4528.371) / 6075.059) |
| = | 0.113997 | / | 0.090626 |
| | = | 1.2579 |
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 |
| = | 1932.694 | / | 3056.84 |
| | = | 0.6323 |
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)) |
| = | (290.165 / (290.165 + 4528.371)) | / | (71.917 / (71.917 + 4476.536)) |
| = | 0.060218 | / | 0.015811 |
| | = | 3.8086 |
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) |
| = | (67.585 / 1932.694) | / | (63.093 / 3056.84) |
| = | 0.034969 | / | 0.02064 |
| | = | 1.6942 |
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) |
| = | ((104.801 + 324.911) / 5687.242) | / | ((130.401 + 565.883) / 6075.059) |
| = | 0.075557 | / | 0.114614 |
| | = | 0.6592 |
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 |
| = | (176.785 - 0 | - | 93.077) | / | 5687.242 |
| | = | 0.014719 |
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.
Marcventures Holdings has a M-score of -3.28 suggests that the company is unlikely to be a manipulator.
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