MOL Hungarian Oil and Gas (MOL Hungarian Oil and Gas) Beneish M-Score : -2.46 (As of Apr. 27, 2024)

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What is MOL Hungarian Oil and Gas 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 -2.46 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

MGYXY' s Beneish M-Score Range Over the Past 10 Years
Min: -3.06 Med: -2.66 Max: -2.38
Current: -2.46

During the past 13 years, the highest Beneish M-Score of MOL Hungarian Oil and Gas was -2.38. The lowest was -3.06. And the median was -2.66.

MOL Hungarian Oil and Gas Beneish M-Score Historical Data

The historical data trend for MOL Hungarian Oil and Gas'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.

MOL Hungarian Oil and Gas Beneish M-Score Chart

MOL Hungarian Oil and Gas Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.91

-2.88

-2.51

-2.38

-2.46

MOL Hungarian Oil and Gas 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															-2.38	-	-	-	-2.46

Competitive Comparison of MOL Hungarian Oil and Gas's Beneish M-Score

For the Oil & Gas Integrated subindustry, MOL Hungarian Oil and Gas'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.

MOL Hungarian Oil and Gas's Beneish M-Score Distribution in the Oil & Gas Industry

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

* The bar in red indicates where MOL Hungarian Oil and Gas's Beneish M-Score falls into.

MOL Hungarian Oil and Gas 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 MOL Hungarian Oil and Gas 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 * 1.1388

0.528 * 1.1748

0.404 * 1.0337

0.892 * 0.9028

0.115 * 1.0088

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1765

4.679 * -0.029092

0.327 * 0.8957

-2.46

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $2,625 Mil.
Revenue was $24,237 Mil.
Gross Profit was $4,105 Mil.
Total Current Assets was $6,639 Mil.
Total Assets was $20,957 Mil.
Property, Plant and Equipment(Net PPE) was $11,266 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,283 Mil.
Selling, General, & Admin. Expense(SGA) was $154 Mil.
Total Current Liabilities was $5,014 Mil.
Long-Term Debt & Capital Lease Obligation was $2,484 Mil.
Net Income was $1,442 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $2,051 Mil.

Total Receivables was $2,553 Mil.
Revenue was $26,848 Mil.
Gross Profit was $5,342 Mil.
Total Current Assets was $7,784 Mil.
Total Assets was $21,677 Mil.
Property, Plant and Equipment(Net PPE) was $10,839 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,247 Mil.
Selling, General, & Admin. Expense(SGA) was $145 Mil.
Total Current Liabilities was $6,889 Mil.
Long-Term Debt & Capital Lease Obligation was $1,770 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)
	=	(2625.046 / 24236.825)	/	(2553.438 / 26847.726)
	=	0.108308	/	0.095108
	=	1.1388

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)
	=	(5341.605 / 26847.726)	/	(4104.764 / 24236.825)
	=	0.198959	/	0.169361
	=	1.1748

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 - (6639.471 + 11265.509) / 20957.435)	/	(1 - (7784.36 + 10838.638) / 21677.246)
	=	0.14565	/	0.140896
	=	1.0337

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
	=	24236.825	/	26847.726
	=	0.9028

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))
	=	(1246.712 / (1246.712 + 10838.638))	/	(1283.283 / (1283.283 + 11265.509))
	=	0.103159	/	0.102263
	=	1.0088

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)
	=	(154.437 / 24236.825)	/	(145.407 / 26847.726)
	=	0.006372	/	0.005416
	=	1.1765

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)
	=	((2484.437 + 5013.918) / 20957.435)	/	((1769.54 + 6889.457) / 21677.246)
	=	0.35779	/	0.399451
	=	0.8957

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
	=	(1441.716 - 0	-	2051.407)	/	20957.435
	=	-0.029092

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.

MOL Hungarian Oil and Gas has a M-score of -2.46 suggests that the company is unlikely to be a manipulator.

MOL Hungarian Oil and Gas Beneish M-Score Related Terms

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MOL Hungarian Oil and Gas (MOL Hungarian Oil and Gas) Business Description

Industry

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Traded in Other Exchanges

MGYOY:USA MOL:Poland MOL:Hungary 0RUK:UK MOGB:Germany MOL:Czech Republic

Address

Dombovari ut 28, Budapest, HUN, H-1117

Website

https://www.molgroup.info

MOL Hungarian Oil and Gas PLC is a multinational integrated oil and gas company. The group has various segments which include Upstream, Downstream, Consumer services, Gas midstream, and Corporate and other. The Downstream segment derives the majority of the revenue which consists of different business activities that are part of an integrated value chain that turns crude oil into a range of refined products, which are moved and marketed for household, industrial, and transport use. Geographically its sales come from Hungary, Croatia, Slovakia, Italy, Czech Republic, Romania, Austria, Europe, and the Rest of the World.