Organizacion SorianaB de CV (Organizacion SorianaB de CV) Beneish M-Score : -2.21 (As of May. 22, 2024)

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What is Organizacion SorianaB de CV 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 -2.21 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

ONZBF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.63 Med: -2.69 Max: -0.52
Current: -2.21

During the past 13 years, the highest Beneish M-Score of Organizacion SorianaB de CV was -0.52. The lowest was -3.63. And the median was -2.69.

Organizacion SorianaB de CV Beneish M-Score Historical Data

The historical data trend for Organizacion SorianaB de CV'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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Organizacion SorianaB de CV Beneish M-Score Chart

Organizacion SorianaB de CV Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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-2.68

-2.84

-2.66

-2.73

Organizacion SorianaB de CV Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
Beneish M-Score	Get a 7-Day Free Trial															-2.40	-2.81	-2.73	-2.21	-2.21

Competitive Comparison of Organizacion SorianaB de CV's Beneish M-Score

For the Department Stores subindustry, Organizacion SorianaB de CV'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.

Organizacion SorianaB de CV's Beneish M-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Organizacion SorianaB de CV's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Organizacion SorianaB de CV's Beneish M-Score falls into.

Organizacion SorianaB de CV 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 Organizacion SorianaB de CV 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 * 1.47

0.528 * 0.9775

0.404 * 0.9591

0.892 * 1.1573

0.115 * 1.0702

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0598

4.679 * -0.01528

0.327 * 1.0122

-2.01

This Year (Jun23) TTM:

Last Year (Jun22) TTM:

Total Receivables was $122 Mil.
Revenue was 2588.336 + 2186.366 + 2322.983 + 2067.18 = $9,165 Mil.
Gross Profit was 566.242 + 519.775 + 535.145 + 442.297 = $2,063 Mil.
Total Current Assets was $2,865 Mil.
Total Assets was $8,735 Mil.
Property, Plant and Equipment(Net PPE) was $4,394 Mil.
Depreciation, Depletion and Amortization(DDA) was $176 Mil.
Selling, General, & Admin. Expense(SGA) was $1,199 Mil.
Total Current Liabilities was $2,304 Mil.
Long-Term Debt & Capital Lease Obligation was $1,162 Mil.
Net Income was 46.723 + 59.003 + 100.792 + 47.704 = $254 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 203.408 + -277.246 + 593.275 + -131.744 = $388 Mil.

Total Receivables was $72 Mil.
Revenue was 2076.422 + 1880.77 + 2087.116 + 1874.798 = $7,919 Mil.
Gross Profit was 452.413 + 418.363 + 477.746 + 394.402 = $1,743 Mil.
Total Current Assets was $2,149 Mil.
Total Assets was $7,036 Mil.
Property, Plant and Equipment(Net PPE) was $3,647 Mil.
Depreciation, Depletion and Amortization(DDA) was $157 Mil.
Selling, General, & Admin. Expense(SGA) was $978 Mil.
Total Current Liabilities was $1,619 Mil.
Long-Term Debt & Capital Lease Obligation was $1,140 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)
	=	(121.723 / 9164.865)	/	(71.549 / 7919.106)
	=	0.013281	/	0.009035
	=	1.47

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)
	=	(1742.924 / 7919.106)	/	(2063.459 / 9164.865)
	=	0.220091	/	0.225149
	=	0.9775

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 - (2864.648 + 4393.815) / 8735.006)	/	(1 - (2148.755 + 3647.491) / 7036.319)
	=	0.169037	/	0.176239
	=	0.9591

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
	=	9164.865	/	7919.106
	=	1.1573

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))
	=	(156.969 / (156.969 + 3647.491))	/	(176.191 / (176.191 + 4393.815))
	=	0.041259	/	0.038554
	=	1.0702

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)
	=	(1199.196 / 9164.865)	/	(977.751 / 7919.106)
	=	0.130847	/	0.123467
	=	1.0598

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)
	=	((1162.142 + 2304.461) / 8735.006)	/	((1139.963 + 1618.761) / 7036.319)
	=	0.396863	/	0.392069
	=	1.0122

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
	=	(254.222 - 0	-	387.693)	/	8735.006
	=	-0.01528

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.

Organizacion SorianaB de CV has a M-score of -2.01 suggests that the company is unlikely to be a manipulator.

Organizacion SorianaB de CV Beneish M-Score Related Terms

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Organizacion SorianaB de CV (Organizacion SorianaB de CV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Organizacion Soriana SAB de CV (OTCPK:ONZBF) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

SORIANAB:Mexico

Address

Alejandro De rodas 3102-A, Cumbres 8° Sector, Monterrey, MEX, 64610

Website

https://www.soriana.com.mx

Organizacion Soriana SAB de CV is a Mexican company with a multiformat strategy. Soriana offers a diverse range of products: food, clothing, healthcare, and basic services. The company operates self-service stores, warehouse clubs, and convenience stores. Store formats are diverse, from hypermarkets with 7,000-square-metre average sales floor area, as with Soriana Hiper; to stores offering low prices on basic commodities, as with Soriano Mercado; to stores offering high-quality products, as with Soriana Super.