Pembury Lifestyle Group (JSE:PEM) Beneish M-Score : 0.00 (As of Jun. 06, 2024)

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What is Pembury Lifestyle Group 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 Pembury Lifestyle Group's Beneish M-Score or its related term are showing as below:

During the past 5 years, the highest Beneish M-Score of Pembury Lifestyle Group was 0.00. The lowest was 0.00. And the median was 0.00.

Pembury Lifestyle Group Beneish M-Score Historical Data

The historical data trend for Pembury Lifestyle Group'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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Pembury Lifestyle Group Beneish M-Score Chart

Pembury Lifestyle Group Annual Data

Trend

Feb14

Feb15

Feb16

Dec17

Dec18

Beneish M-Score

Pembury Lifestyle Group Semi-Annual Data
	Feb15	Feb16	Aug16	Jun17	Dec17	Jun18	Dec18	Jun19
Beneish M-Score	Get a 7-Day Free Trial			-	-	-	-	-

Competitive Comparison of Pembury Lifestyle Group's Beneish M-Score

For the Education & Training Services subindustry, Pembury Lifestyle Group'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.

Pembury Lifestyle Group's Beneish M-Score Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Pembury Lifestyle Group's Beneish M-Score distribution charts can be found below:

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

Pembury Lifestyle Group 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 Pembury Lifestyle Group 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 * 1.3406

0.528 * 1

0.404 * 1.0448

0.892 * 1.5735

0.115 * 0.8228

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.239022

0.327 * 1.5757

-2.96

This Year (Dec18) TTM:

Last Year (Dec17) TTM:

Total Receivables was R3.16 Mil.
Revenue was R82.42 Mil.
Gross Profit was R82.42 Mil.
Total Current Assets was R5.69 Mil.
Total Assets was R243.48 Mil.
Property, Plant and Equipment(Net PPE) was R197.45 Mil.
Depreciation, Depletion and Amortization(DDA) was R3.62 Mil.
Selling, General, & Admin. Expense(SGA) was R0.00 Mil.
Total Current Liabilities was R62.87 Mil.
Long-Term Debt & Capital Lease Obligation was R25.21 Mil.
Net Income was R-40.72 Mil.
Gross Profit was R0.00 Mil.
Cash Flow from Operations was R17.48 Mil.

Total Receivables was R1.50 Mil.
Revenue was R52.38 Mil.
Gross Profit was R52.38 Mil.
Total Current Assets was R77.97 Mil.
Total Assets was R262.49 Mil.
Property, Plant and Equipment(Net PPE) was R142.89 Mil.
Depreciation, Depletion and Amortization(DDA) was R2.15 Mil.
Selling, General, & Admin. Expense(SGA) was R0.00 Mil.
Total Current Liabilities was R38.03 Mil.
Long-Term Debt & Capital Lease Obligation was R22.24 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)
	=	(3.16 / 82.42)	/	(1.498 / 52.379)
	=	0.03834	/	0.028599
	=	1.3406

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)
	=	(52.379 / 52.379)	/	(82.42 / 82.42)
	=	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 - (5.693 + 197.449) / 243.484)	/	(1 - (77.97 + 142.891) / 262.485)
	=	0.165686	/	0.158577
	=	1.0448

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
	=	82.42	/	52.379
	=	1.5735

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))
	=	(2.148 / (2.148 + 142.891))	/	(3.619 / (3.619 + 197.449))
	=	0.01481	/	0.017999
	=	0.8228

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)
	=	(0 / 82.42)	/	(0 / 52.379)
	=	0	/	0
	=	1

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)
	=	((25.213 + 62.873) / 243.484)	/	((22.237 + 38.03) / 262.485)
	=	0.361773	/	0.229602
	=	1.5757

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
	=	(-40.716 - 0	-	17.482)	/	243.484
	=	-0.239022

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.

Pembury Lifestyle Group has a M-score of -2.96 suggests that the company is unlikely to be a manipulator.

Pembury Lifestyle Group Beneish M-Score Related Terms

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Pembury Lifestyle Group (JSE:PEM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Pembury Lifestyle Group Ltd (JSE:PEM) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

111 9th Avenue, P.O. Box 73723, Fairlands, Randburg, Gauteng, Johannesburg, ZAF, 2030

Website

https://www.plgschools.co.za

Pembury Lifestyle Group Ltd is a South Africa based group that provides private education through its independent schools, with an intention to own the properties from which the schools operate and operating of retirement lodges. Its reportable segments are: PLG Properties - investment properties; Pembury Schools - developing and managing independent schools; and PLG Retirement Villages - developing and managing retirement villages. The main revenue is generated through the Pembury Schools segment that includes fees from the provision of accessible, affordable, private education and related services.

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