InterOil (InterOil) Beneish M-Score : 0.00 (As of Apr. 26, 2024)

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What is InterOil 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.

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

During the past 13 years, the highest Beneish M-Score of InterOil was 0.00. The lowest was 0.00. And the median was 0.00.

InterOil Beneish M-Score Historical Data

The historical data trend for InterOil'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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InterOil Beneish M-Score Chart

InterOil Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Beneish M-Score

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-1.45

125.81

30.15

124.49

1.34

InterOil Quarterly Data
	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16
Beneish M-Score	Get a 7-Day Free Trial															0.76	1.34	-1.24	-2.01	-1.86

Competitive Comparison of InterOil's Beneish M-Score

For the Oil & Gas Refining & Marketing subindustry, InterOil'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.

InterOil's Beneish M-Score Distribution in the Oil & Gas Industry

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

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

InterOil 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 InterOil 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Sep16) TTM:

Last Year (Sep15) TTM:

Total Receivables was $556.33 Mil.
Revenue was 7.164 + -10.696 + 0.921 + 11.689 = $9.08 Mil.
Gross Profit was 7.164 + -10.696 + 0.921 + 11.689 = $9.08 Mil.
Total Current Assets was $578.53 Mil.
Total Assets was $1,178.40 Mil.
Property, Plant and Equipment(Net PPE) was $573.53 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.13 Mil.
Selling, General, & Admin. Expense(SGA) was $95.89 Mil.
Total Current Liabilities was $364.50 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -25.682 + -57.546 + -16.978 + -83.83 = $-184.04 Mil.
Non Operating Income was -8.023 + 1.286 + -1.415 + -12.467 = $-20.62 Mil.
Cash Flow from Operations was -38.537 + -48.571 + -14.418 + -39.124 = $-140.65 Mil.

Total Receivables was $602.82 Mil.
Revenue was 11.822 + -13.643 + 13.215 + -13.182 = $-1.79 Mil.
Gross Profit was 11.822 + -13.643 + 13.215 + -13.182 = $-1.79 Mil.
Total Current Assets was $731.96 Mil.
Total Assets was $1,231.92 Mil.
Property, Plant and Equipment(Net PPE) was $470.03 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.73 Mil.
Selling, General, & Admin. Expense(SGA) was $36.74 Mil.
Total Current Liabilities was $258.76 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
	=	(556.333 / 9.078)	/	(602.818 / -1.788)
	=	61.283653	/
	=

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)
	=	(-1.788 / -1.788)	/	(9.078 / 9.078)
	=		/	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 - (578.531 + 573.532) / 1178.399)	/	(1 - (731.96 + 470.027) / 1231.923)
	=	0.022349	/	0.0243
	=

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
	=	9.078	/	-1.788
	=

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))
	=	(0.728 / (0.728 + 470.027))	/	(1.13 / (1.13 + 573.532))
	=	0.001546	/	0.001966
	=

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)
	=	(95.892 / 9.078)	/	(36.743 / -1.788)
	=	10.56312	/
	=

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)
	=	((0 + 364.503) / 1178.399)	/	((0 + 258.756) / 1231.923)
	=	0.309321	/	0.210042
	=

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
	=	(-184.036 - -20.619	-	-140.65)	/	1178.399
	=	-0.01932

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.

InterOil Beneish M-Score Related Terms

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InterOil (InterOil) Business Description

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Address

Website

http://www.interoil.com

InterOil Corp is incorporated and domiciled in Canada and continued under the Business Corporations Act on August 24, 2007. The Company, together with its subsidiaries, is engaged in the exploration and production of oil and gas properties in Papua New Guinea and its surrounding region. Its operations are organized into four business segments: Upstream, Midstream, Downstream and Corporate. Upstream segment explores, appraises and develops hydrocarbon structures in Papua New Guinea with a view to commercializing, monetizing and developing oil and gas structures through production facilities. Midstream segment produces refined petroleum products at Napa Napa in Port Moresby, Papua New Guinea for the domestic market and for export markets. Downstream segment markets and distributes refined petroleum products domestically in Papua New Guinea on a wholesale and retail basis. Corporate segment provides support to the other business segments by engaging in business development and improvement activities and providing general and administrative services and management, undertakes financing and treasury activities, and is responsible for government affairs and investor relations. Corporate segment also manages Company's shipping business which operates two vessels transporting petroleum products within Papua New Guinea and South Pacific. The Company sells jet fuel, diesel and gasoline to domestic distributors in Papua New Guinea. The Company's main domestic customer is its Downstream distribution business segment, however the Company also distribute fuel products to Niugini Oil Company, Islands Petroleum, Exxon Mobil and Bige Petroleum. The Company's main competitor in the wholesale and retail distribution business in Papua New Guinea is ExxonMobil. The Company also competes with smaller local distributors of petroleum products. The Company is subject to an environmental law regime.