Inversiones Nutravalor (XSGO:NUTRAVALOR) Beneish M-Score : -2.76 (As of Jun. 09, 2024)

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What is Inversiones Nutravalor 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 -2.76 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XSGO:NUTRAVALOR' s Beneish M-Score Range Over the Past 10 Years
Min: -3.49 Med: -2.51 Max: 4.71
Current: -2.76

During the past 13 years, the highest Beneish M-Score of Inversiones Nutravalor was 4.71. The lowest was -3.49. And the median was -2.51.

Inversiones Nutravalor Beneish M-Score Historical Data

The historical data trend for Inversiones Nutravalor'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.

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Inversiones Nutravalor Beneish M-Score Chart

Inversiones Nutravalor Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-0.96

-2.50

-2.48

-2.41

-2.96

Inversiones Nutravalor 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															-2.33	-2.98	-3.49	-2.96	-2.76

Competitive Comparison of Inversiones Nutravalor's Beneish M-Score

For the Farm Products subindustry, Inversiones Nutravalor'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.

Inversiones Nutravalor's Beneish M-Score Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Inversiones Nutravalor's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Inversiones Nutravalor's Beneish M-Score falls into.

Inversiones Nutravalor 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 Inversiones Nutravalor 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 * 1.1165

0.528 * 1.434

0.404 * 1.3562

0.892 * 0.685

0.115 * 1.2221

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.106

4.679 * -0.109841

0.327 * 0.9251

-2.76

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was CLP76,464 Mil.
Revenue was 90526.659 + 62472.666 + 85644.687 + 76889.519 = CLP315,534 Mil.
Gross Profit was 7894.087 + 4168.336 + 7091.489 + 9274.967 = CLP28,429 Mil.
Total Current Assets was CLP281,639 Mil.
Total Assets was CLP667,960 Mil.
Property, Plant and Equipment(Net PPE) was CLP174,190 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP2,815 Mil.
Selling, General, & Admin. Expense(SGA) was CLP17,370 Mil.
Total Current Liabilities was CLP263,523 Mil.
Long-Term Debt & Capital Lease Obligation was CLP30,553 Mil.
Net Income was -1855.019 + -5359.913 + -3410.625 + -4537.55 = CLP-15,163 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was -1394.101 + -11968.144 + 25361.593 + 46207.076 = CLP58,206 Mil.

Total Receivables was CLP99,982 Mil.
Revenue was 92878.495 + 110764.866 + 148010.518 + 109005.402 = CLP460,659 Mil.
Gross Profit was 10501.903 + 11353.496 + 21711.816 + 15950.439 = CLP59,518 Mil.
Total Current Assets was CLP350,803 Mil.
Total Assets was CLP675,105 Mil.
Property, Plant and Equipment(Net PPE) was CLP166,214 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP3,295 Mil.
Selling, General, & Admin. Expense(SGA) was CLP22,929 Mil.
Total Current Liabilities was CLP260,099 Mil.
Long-Term Debt & Capital Lease Obligation was CLP61,172 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)
	=	(76464.308 / 315533.531)	/	(99982.374 / 460659.281)
	=	0.242333	/	0.217042
	=	1.1165

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)
	=	(59517.654 / 460659.281)	/	(28428.879 / 315533.531)
	=	0.129201	/	0.090098
	=	1.434

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 - (281638.981 + 174190.186) / 667959.506)	/	(1 - (350803.011 + 166214.215) / 675105.392)
	=	0.31758	/	0.234168
	=	1.3562

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
	=	315533.531	/	460659.281
	=	0.685

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))
	=	(3294.606 / (3294.606 + 166214.215))	/	(2815.016 / (2815.016 + 174190.186))
	=	0.019436	/	0.015904
	=	1.2221

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)
	=	(17369.557 / 315533.531)	/	(22928.558 / 460659.281)
	=	0.055048	/	0.049773
	=	1.106

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)
	=	((30553.25 + 263522.65) / 667959.506)	/	((61172.3 + 260099.093) / 675105.392)
	=	0.44026	/	0.475883
	=	0.9251

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
	=	(-15163.107 - 0	-	58206.424)	/	667959.506
	=	-0.109841

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.

Inversiones Nutravalor has a M-score of -2.76 suggests that the company is unlikely to be a manipulator.

Inversiones Nutravalor Beneish M-Score Related Terms

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Inversiones Nutravalor (XSGO:NUTRAVALOR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Inversiones Nutravalor SA (XSGO:NUTRAVALOR) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Avenida El Gof 150, Piso 3, Las Condes, Santiago, CHL

Website

http://www.eperva.cl

Inversiones Nutravalor SA formerly Empresa Pesquera Eperva SA is an investment company. It is engaged in the maritime fishing with vessels and equipment; the purchase, lease and the acquisition of all kinds of vessels; exploitation of maritime transport. It is also engaged in the exploitation of the forestry activity which include the plantation of forests and their exploitation, whether as raw wood, sawn, pressed, conglomerate, cellulose.

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