Crescent Point Energy (Crescent Point Energy) Beneish M-Score

: -3.15 (As of Today)

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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 -3.15 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CPG' s Beneish M-Score Range Over the Past 10 Years
Min: -10.65 Med: -3.78 Max: 7
Current: -3.15

During the past 13 years, the highest Beneish M-Score of Crescent Point Energy was 7.00. The lowest was -10.65. And the median was -3.78.

Crescent Point Energy Beneish M-Score Historical Data

The historical data trend for Crescent Point Energy'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.

Crescent Point Energy Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-10.65

-5.59

-4.02

-2.80

-3.15

Crescent Point Energy 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																-2.80	-2.98	-3.32	-3.66	-3.15

Competitive Comparison

For the Oil & Gas E&P subindustry, Crescent Point Energy'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.

Crescent Point Energy Beneish M-Score Distribution

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

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

Crescent Point Energy 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 Crescent Point Energy 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 * 1.6022

0.528 * 1.0748

0.404 * 0.3774

0.892 * 0.8813

0.115 * 1.3062

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.5397

4.679 * -0.133249

0.327 * 1.5454

-3.10

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $341 Mil.
Revenue was 642.069 + 671.569 + 633.599 + 591.172 = $2,538 Mil.
Gross Profit was 441.711 + 480.526 + 421.271 + 406.855 = $1,750 Mil.
Total Current Assets was $783 Mil.
Total Assets was $9,523 Mil.
Property, Plant and Equipment(Net PPE) was $8,518 Mil.
Depreciation, Depletion and Amortization(DDA) was $790 Mil.
Selling, General, & Admin. Expense(SGA) was $123 Mil.
Total Current Liabilities was $1,024 Mil.
Long-Term Debt & Capital Lease Obligation was $2,453 Mil.
Net Income was 709.004 + -598.551 + 159.792 + 158.372 = $429 Mil.
Non Operating Income was 103.086 + -89.129 + 36.429 + 18.125 = $69 Mil.
Cash Flow from Operations was 455.65 + 479.565 + 347.81 + 345.977 = $1,629 Mil.

Total Receivables was $241 Mil.
Revenue was 588.296 + 635.655 + 883.552 + 772.828 = $2,880 Mil.
Gross Profit was 416.562 + 461.879 + 680.49 + 575.671 = $2,135 Mil.
Total Current Assets was $728 Mil.
Total Assets was $6,983 Mil.
Property, Plant and Equipment(Net PPE) was $5,824 Mil.
Depreciation, Depletion and Amortization(DDA) was $726 Mil.
Selling, General, & Admin. Expense(SGA) was $91 Mil.
Total Current Liabilities was $912 Mil.
Long-Term Debt & Capital Lease Obligation was $738 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)
	=	(340.713 / 2538.409)	/	(241.296 / 2880.331)
	=	0.134223	/	0.083774
	=	1.6022

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)
	=	(2134.602 / 2880.331)	/	(1750.363 / 2538.409)
	=	0.741096	/	0.689551
	=	1.0748

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 - (782.648 + 8518.262) / 9522.734)	/	(1 - (728.156 + 5823.85) / 6982.996)
	=	0.023294	/	0.06172
	=	0.3774

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
	=	2538.409	/	2880.331
	=	0.8813

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))
	=	(726.452 / (726.452 + 5823.85))	/	(790.354 / (790.354 + 8518.262))
	=	0.110904	/	0.084906
	=	1.3062

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)
	=	(123.487 / 2538.409)	/	(91.004 / 2880.331)
	=	0.048647	/	0.031595
	=	1.5397

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)
	=	((2452.668 + 1023.778) / 9522.734)	/	((737.578 + 912.035) / 6982.996)
	=	0.365068	/	0.236233
	=	1.5454

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
	=	(428.617 - 68.511	-	1629.002)	/	9522.734
	=	-0.133249

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.

Crescent Point Energy has a M-score of -3.10 suggests that the company is unlikely to be a manipulator.

Crescent Point Energy Beneish M-Score Related Terms

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Crescent Point Energy (Crescent Point Energy) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

016:Germany 016:Germany CPG:Canada

Address

585 - 8th Avenue S.W., Suite 2000, Calgary, AB, CAN, T2P 1G1

Website

https://www.crescentpointenergy.com

Crescent Point Energy Corp is an independent exploration and production company. It is engaged in acquiring, developing, and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly-owned subsidiaries. The company generates maximum revenue from Oil and gas sales.