Almendral Beneish M-Score Historical Data
The historical data trend for Almendral'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.
Almendral Beneish M-Score Chart
|
Almendral Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.85 |
-3.01 |
-2.64 |
-2.81 |
-3.08 |
|
Almendral Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.81 |
-2.90 |
-3.22 |
-3.35 |
-3.08 |
Competitive Comparison of Almendral's Beneish M-Score
For the Telecom Services subindustry, Almendral'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.
Almendral's Beneish M-Score Distribution in the Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Almendral's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Almendral's Beneish M-Score falls into.
Almendral 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 Almendral 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 * 1.0367 | + | 0.528 * 1 | + | 0.404 * 0.985 | + | 0.892 * 0.9736 | + | 0.115 * 1.0681 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8953 | + | 4.679 * -0.138353 | - | 0.327 * 0.9607 |
| = | -3.08 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was CLP633,965 Mil.
Revenue was 661252.819 + 603807.073 + 607222.759 + 601409.659 = CLP2,473,692 Mil.
Gross Profit was 661252.819 + 603807.073 + 607222.759 + 601409.659 = CLP2,473,692 Mil.
Total Current Assets was CLP1,598,685 Mil.
Total Assets was CLP5,946,741 Mil.
Property, Plant and Equipment(Net PPE) was CLP2,622,820 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP504,146 Mil.
Selling, General, & Admin. Expense(SGA) was CLP738,858 Mil.
Total Current Liabilities was CLP1,352,379 Mil.
Long-Term Debt & Capital Lease Obligation was CLP2,247,324 Mil.
Net Income was 41853.834 + -7154.293 + 12096.743 + 1625.615 = CLP48,422 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was 215289.078 + 331568.081 + 167073.182 + 157238.253 = CLP871,169 Mil.
|
Total Receivables was CLP628,077 Mil.
Revenue was 630486.353 + 622782.227 + 646628.746 + 640785.578 = CLP2,540,683 Mil.
Gross Profit was 630486.353 + 622782.227 + 646628.746 + 640785.578 = CLP2,540,683 Mil.
Total Current Assets was CLP1,498,218 Mil.
Total Assets was CLP5,653,411 Mil.
Property, Plant and Equipment(Net PPE) was CLP2,490,037 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP518,026 Mil.
Selling, General, & Admin. Expense(SGA) was CLP847,604 Mil.
Total Current Liabilities was CLP1,139,679 Mil.
Long-Term Debt & Capital Lease Obligation was CLP2,422,291 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) |
| = | (633964.515 / 2473692.31) | / | (628077.209 / 2540682.904) |
| = | 0.256283 | / | 0.247208 |
| | = | 1.0367 |
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) |
| = | (2540682.904 / 2540682.904) | / | (2473692.31 / 2473692.31) |
| = | 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 - (1598685.23 + 2622819.798) / 5946741.293) | / | (1 - (1498217.636 + 2490037.025) / 5653410.801) |
| = | 0.290115 | / | 0.29454 |
| | = | 0.985 |
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 |
| = | 2473692.31 | / | 2540682.904 |
| | = | 0.9736 |
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)) |
| = | (518025.718 / (518025.718 + 2490037.025)) | / | (504146.19 / (504146.19 + 2622819.798)) |
| = | 0.172212 | / | 0.161225 |
| | = | 1.0681 |
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) |
| = | (738857.997 / 2473692.31) | / | (847604.01 / 2540682.904) |
| = | 0.298686 | / | 0.333613 |
| | = | 0.8953 |
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) |
| = | ((2247323.941 + 1352379.305) / 5946741.293) | / | ((2422290.791 + 1139679.302) / 5653410.801) |
| = | 0.605324 | / | 0.630057 |
| | = | 0.9607 |
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 |
| = | (48421.899 - 0 | - | 871168.594) | / | 5946741.293 |
| | = | -0.138353 |
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.
Almendral has a M-score of -3.08 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XSGO:ALMENDRAL has been successfully added to your