Prosus NV Beneish M-Score Historical Data
The historical data trend for Prosus NV'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.
Prosus NV Beneish M-Score Chart
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Prosus NV Annual Data
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Trend |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
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-2.04 |
-1.81 |
-1.72 |
-0.60 |
-1.61 |
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Prosus NV Semi-Annual Data
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Mar17 |
Mar18 |
Sep18 |
Mar19 |
Sep19 |
Mar20 |
Sep20 |
Mar21 |
Sep21 |
Mar22 |
Sep22 |
Mar23 |
Sep23 |
| Beneish M-Score |
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- |
-0.60 |
- |
-1.61 |
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Competitive Comparison of Prosus NV's Beneish M-Score
For the Internet Content & Information subindustry, Prosus NV'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.
Prosus NV's Beneish M-Score Distribution in the Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Prosus NV's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Prosus NV's Beneish M-Score falls into.
Prosus NV 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 Prosus NV 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 * 1.1826 | + | 0.528 * 0.9138 | + | 0.404 * 0.812 | + | 0.892 * 1.136 | + | 0.115 * 0.9277 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9459 | + | 4.679 * 0.157227 | - | 0.327 * 1.0907 |
| = | -1.61 |
* 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 €1,419 Mil.
Revenue was €5,385 Mil.
Gross Profit was €1,548 Mil.
Total Current Assets was €21,829 Mil.
Total Assets was €60,783 Mil.
Property, Plant and Equipment(Net PPE) was €579 Mil.
Depreciation, Depletion and Amortization(DDA) was €177 Mil.
Selling, General, & Admin. Expense(SGA) was €2,100 Mil.
Total Current Liabilities was €4,114 Mil.
Long-Term Debt & Capital Lease Obligation was €14,729 Mil.
Net Income was €9,445 Mil.
Gross Profit was €0 Mil.
Cash Flow from Operations was €-112 Mil.
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Total Receivables was €1,056 Mil.
Revenue was €4,740 Mil.
Gross Profit was €1,245 Mil.
Total Current Assets was €13,861 Mil.
Total Assets was €64,775 Mil.
Property, Plant and Equipment(Net PPE) was €548 Mil.
Depreciation, Depletion and Amortization(DDA) was €153 Mil.
Selling, General, & Admin. Expense(SGA) was €1,954 Mil.
Total Current Liabilities was €4,007 Mil.
Long-Term Debt & Capital Lease Obligation was €14,404 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) |
| = | (1418.746 / 5384.51) | / | (1056.004 / 4739.76) |
| = | 0.263487 | / | 0.222797 |
| | = | 1.1826 |
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) |
| = | (1244.868 / 4739.76) | / | (1547.638 / 5384.51) |
| = | 0.262644 | / | 0.287424 |
| | = | 0.9138 |
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 - (21828.514 + 579.08) / 60782.852) | / | (1 - (13860.62 + 548.432) / 64774.904) |
| = | 0.63135 | / | 0.777552 |
| | = | 0.812 |
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 |
| = | 5384.51 | / | 4739.76 |
| | = | 1.136 |
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)) |
| = | (152.544 / (152.544 + 548.432)) | / | (177.46 / (177.46 + 579.08)) |
| = | 0.217617 | / | 0.234568 |
| | = | 0.9277 |
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) |
| = | (2099.632 / 5384.51) | / | (1954.016 / 4739.76) |
| = | 0.389939 | / | 0.412261 |
| | = | 0.9459 |
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) |
| = | ((14729.18 + 4114.27) / 60782.852) | / | ((14403.604 + 4007.004) / 64774.904) |
| = | 0.310013 | / | 0.284224 |
| | = | 1.0907 |
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 |
| = | (9444.608 - 0 | - | -112.08) | / | 60782.852 |
| | = | 0.157227 |
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.
Prosus NV has a M-score of -1.61 signals that the company is likely to be a manipulator.
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