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Yinson Holdings Bhd (XKLS:7293) Beneish M-Score : -1.35 (As of May. 22, 2024)


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What is Yinson Holdings Bhd 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.

Warning Sign:

Beneish M-Score -1.35 higher than -1.78, which implies that the company might have manipulated its financial results.

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

XKLS:7293' s Beneish M-Score Range Over the Past 10 Years
Min: -3.44   Med: -1.96   Max: 3.56
Current: -1.35

During the past 13 years, the highest Beneish M-Score of Yinson Holdings Bhd was 3.56. The lowest was -3.44. And the median was -1.96.


Yinson Holdings Bhd Beneish M-Score Historical Data

The historical data trend for Yinson Holdings Bhd'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.

Yinson Holdings Bhd Beneish M-Score Chart

Yinson Holdings Bhd Annual Data
Trend Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.21 -0.71 -1.56 -2.06 -1.23

Yinson Holdings Bhd Quarterly Data
Jan19 Apr19 Jul19 Oct19 Jan20 Apr20 Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.89 -1.23 -0.67 -0.95 -1.35

Competitive Comparison of Yinson Holdings Bhd's Beneish M-Score

For the Oil & Gas Equipment & Services subindustry, Yinson Holdings Bhd'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.


Yinson Holdings Bhd's Beneish M-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Yinson Holdings Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Yinson Holdings Bhd's Beneish M-Score falls into.



Yinson Holdings Bhd 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 Yinson Holdings Bhd 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 * 0.2911+0.528 * 1.3817+0.404 * 1.1914+0.892 * 2.1372+0.115 * 0.9878
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8848+4.679 * 0.107309-0.327 * 1.087
=-1.35

* 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 (Oct23) TTM:Last Year (Oct22) TTM:
Total Receivables was RM718 Mil.
Revenue was 2813 + 3113 + 3018 + 1962 = RM10,906 Mil.
Gross Profit was 690 + 759 + 623 + 491 = RM2,563 Mil.
Total Current Assets was RM4,305 Mil.
Total Assets was RM26,801 Mil.
Property, Plant and Equipment(Net PPE) was RM4,684 Mil.
Depreciation, Depletion and Amortization(DDA) was RM328 Mil.
Selling, General, & Admin. Expense(SGA) was RM295 Mil.
Total Current Liabilities was RM4,951 Mil.
Long-Term Debt & Capital Lease Obligation was RM12,858 Mil.
Net Income was 248 + 230 + 208 + 171 = RM857 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was -707 + -880 + 35 + -467 = RM-2,019 Mil.
Total Receivables was RM1,154 Mil.
Revenue was 1737 + 1620 + 1005 + 741 = RM5,103 Mil.
Gross Profit was 505 + 469 + 362 + 321 = RM1,657 Mil.
Total Current Assets was RM4,217 Mil.
Total Assets was RM20,499 Mil.
Property, Plant and Equipment(Net PPE) was RM4,847 Mil.
Depreciation, Depletion and Amortization(DDA) was RM335 Mil.
Selling, General, & Admin. Expense(SGA) was RM156 Mil.
Total Current Liabilities was RM3,648 Mil.
Long-Term Debt & Capital Lease Obligation was RM8,883 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)
=(718 / 10906) / (1154 / 5103)
=0.065835 / 0.226141
=0.2911

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)
=(1657 / 5103) / (2563 / 10906)
=0.324711 / 0.235008
=1.3817

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 - (4305 + 4684) / 26801) / (1 - (4217 + 4847) / 20499)
=0.664602 / 0.557832
=1.1914

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
=10906 / 5103
=2.1372

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))
=(335 / (335 + 4847)) / (328 / (328 + 4684))
=0.064647 / 0.065443
=0.9878

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)
=(295 / 10906) / (156 / 5103)
=0.027049 / 0.03057
=0.8848

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)
=((12858 + 4951) / 26801) / ((8883 + 3648) / 20499)
=0.66449 / 0.611298
=1.087

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
=(857 - 0 - -2019) / 26801
=0.107309

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.

Yinson Holdings Bhd has a M-score of -1.35 signals that the company is likely to be a manipulator.


Yinson Holdings Bhd Beneish M-Score Related Terms

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Yinson Holdings Bhd (XKLS:7293) Business Description

Traded in Other Exchanges
N/A
Address
Mid Valley City, Medan Syed Putra Selatan, Level 16, Menara South Point, Kuala Lumpur, SGR, MYS, 59200
Yinson Holdings Bhd is a transportation and logistics company domiciled in Malaysia. The company organizes itself into three segments: Offshore Production and Offshore Marine, Other operations, and Renewables. It generates maximum revenue from the Offshore Production and Offshore Marine segment. Offshore Production and Offshore Marine segment consist of Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) business activities and FPSO operations covering the leasing of vessels and marine related services.

Yinson Holdings Bhd (XKLS:7293) Headlines

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