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All for One Group SE (XTER:A1OS) Beneish M-Score : -2.80 (As of May. 17, 2024)


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What is All for One Group SE 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 -2.8 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for All for One Group SE's Beneish M-Score or its related term are showing as below:

XTER:A1OS' s Beneish M-Score Range Over the Past 10 Years
Min: -3.29   Med: -2.68   Max: -2.31
Current: -2.8

During the past 13 years, the highest Beneish M-Score of All for One Group SE was -2.31. The lowest was -3.29. And the median was -2.68.


All for One Group SE Beneish M-Score Historical Data

The historical data trend for All for One Group SE'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.

All for One Group SE Beneish M-Score Chart

All for One Group SE Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.52 -3.29 -2.78 -2.31 -2.80

All for One Group SE Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
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 -2.31 - - - -2.80

Competitive Comparison of All for One Group SE's Beneish M-Score

For the Information Technology Services subindustry, All for One Group SE'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.


All for One Group SE's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, All for One Group SE's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where All for One Group SE's Beneish M-Score falls into.



All for One Group SE 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 All for One Group SE 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 * 1.0373+0.528 * 0.9978+0.404 * 0.9812+0.892 * 1.078+0.115 * 1.0324
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8774+4.679 * -0.085414-0.327 * 1.1226
=-2.80

* 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 (Sep23) TTM:Last Year (Sep22) TTM:
Total Receivables was €72.7 Mil.
Revenue was €488.0 Mil.
Gross Profit was €84.7 Mil.
Total Current Assets was €162.3 Mil.
Total Assets was €341.7 Mil.
Property, Plant and Equipment(Net PPE) was €61.8 Mil.
Depreciation, Depletion and Amortization(DDA) was €29.1 Mil.
Selling, General, & Admin. Expense(SGA) was €6.9 Mil.
Total Current Liabilities was €118.5 Mil.
Long-Term Debt & Capital Lease Obligation was €103.8 Mil.
Net Income was €11.1 Mil.
Gross Profit was €0.0 Mil.
Cash Flow from Operations was €40.2 Mil.
Total Receivables was €65.0 Mil.
Revenue was €452.7 Mil.
Gross Profit was €78.4 Mil.
Total Current Assets was €160.9 Mil.
Total Assets was €339.9 Mil.
Property, Plant and Equipment(Net PPE) was €59.8 Mil.
Depreciation, Depletion and Amortization(DDA) was €29.5 Mil.
Selling, General, & Admin. Expense(SGA) was €7.3 Mil.
Total Current Liabilities was €89.3 Mil.
Long-Term Debt & Capital Lease Obligation was €107.7 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)
=(72.688 / 487.952) / (65.007 / 452.652)
=0.148965 / 0.143614
=1.0373

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)
=(78.377 / 452.652) / (84.672 / 487.952)
=0.173151 / 0.173525
=0.9978

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 - (162.326 + 61.809) / 341.652) / (1 - (160.899 + 59.829) / 339.865)
=0.343967 / 0.350542
=0.9812

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
=487.952 / 452.652
=1.078

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))
=(29.491 / (29.491 + 59.829)) / (29.06 / (29.06 + 61.809))
=0.330172 / 0.319801
=1.0324

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)
=(6.946 / 487.952) / (7.344 / 452.652)
=0.014235 / 0.016224
=0.8774

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)
=((103.811 + 118.533) / 341.652) / ((107.728 + 89.292) / 339.865)
=0.650791 / 0.579701
=1.1226

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
=(11.056 - 0 - 40.238) / 341.652
=-0.085414

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.

All for One Group SE has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.


All for One Group SE Beneish M-Score Related Terms

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All for One Group SE (XTER:A1OS) Business Description

Traded in Other Exchanges
Address
Rita-Maiburg-Strasse 40, Bernhausen, Filderstadt, BW, DEU, 70794
All for One Group SE is an information technology company. It operates in two segments: CORE, which accounts for the majority of revenue; and LOB. The Core segment focuses on solutions and services for companies' core business processes especially for ERP (Enterprise Resource Planning), New Work and collaboration, Cybersecurity, the Internet of Things, and Management Consulting, while the LOB(Line of Business) segment includes IT solutions for departments such as sales, marketing, Business analytics, and human resources. Its geographical segments include Germany, Austria, Poland Switzerland, Luxembourg, Italy, and other countries, of which the majority of the revenue comes from Germany.
Executives
Dr. Rudolf Knünz Supervisory Board
Josef Blazicek Supervisory Board
Paul Neumann Supervisory Board
Di Michael Zitz Board of Directors

All for One Group SE (XTER:A1OS) Headlines

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