OMZ Gruppa Uralmash-Izhora Beneish M-Score Historical Data
The historical data trend for OMZ Gruppa Uralmash-Izhora'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.
OMZ Gruppa Uralmash-Izhora Beneish M-Score Chart
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OMZ Gruppa Uralmash-Izhora Annual Data
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|
Trend |
Dec08 |
Dec09 |
Dec10 |
Dec11 |
Dec12 |
| Beneish M-Score |
|
- |
- |
- |
- |
-2.86 |
|
OMZ Gruppa Uralmash-Izhora Semi-Annual Data
|
|
Dec08 |
Dec09 |
Dec10 |
Dec11 |
Dec12 |
| Beneish M-Score |
- |
- |
- |
- |
-2.86 |
Competitive Comparison of OMZ Gruppa Uralmash-Izhora's Beneish M-Score
For the Specialty Industrial Machinery subindustry, OMZ Gruppa Uralmash-Izhora'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.
OMZ Gruppa Uralmash-Izhora's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, OMZ Gruppa Uralmash-Izhora's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where OMZ Gruppa Uralmash-Izhora's Beneish M-Score falls into.
OMZ Gruppa Uralmash-Izhora 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 OMZ Gruppa Uralmash-Izhora for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 0.9175 | + | 0.528 * 0.5904 | + | 0.404 * 0.7618 | + | 0.892 * 1.0264 | + | 0.115 * 1.7535 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1545 | + | 4.679 * -0.01847 | - | 0.327 * 0.9412 |
| = | -2.85 |
* 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.
| This Year (Dec12) TTM: | Last Year (Dec11) TTM: |
Total Receivables was $355.6 Mil.
Revenue was $969.9 Mil.
Gross Profit was $266.2 Mil.
Total Current Assets was $874.6 Mil.
Total Assets was $1,398.7 Mil.
Property, Plant and Equipment(Net PPE) was $473.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $37.5 Mil.
Selling, General, & Admin. Expense(SGA) was $123.0 Mil.
Total Current Liabilities was $748.4 Mil.
Long-Term Debt & Capital Lease Obligation was $226.8 Mil.
Net Income was $58.1 Mil.
Gross Profit was $-2.6 Mil.
Cash Flow from Operations was $86.4 Mil.
|
Total Receivables was $377.6 Mil.
Revenue was $945.0 Mil.
Gross Profit was $153.1 Mil.
Total Current Assets was $760.8 Mil.
Total Assets was $1,121.2 Mil.
Property, Plant and Equipment(Net PPE) was $307.1 Mil.
Depreciation, Depletion and Amortization(DDA) was $45.4 Mil.
Selling, General, & Admin. Expense(SGA) was $103.8 Mil.
Total Current Liabilities was $732.0 Mil.
Long-Term Debt & Capital Lease Obligation was $98.6 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) |
| = | (355.624 / 969.905) | / | (377.616 / 944.95) |
| = | 0.366659 | / | 0.399615 |
| | = | 0.9175 |
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) |
| = | (153.147 / 944.95) | / | (266.248 / 969.905) |
| = | 0.162069 | / | 0.274509 |
| | = | 0.5904 |
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 - (874.606 + 473.35) / 1398.696) | / | (1 - (760.788 + 307.058) / 1121.243) |
| = | 0.036277 | / | 0.047623 |
| | = | 0.7618 |
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 |
| = | 969.905 | / | 944.95 |
| | = | 1.0264 |
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)) |
| = | (45.362 / (45.362 + 307.058)) | / | (37.499 / (37.499 + 473.35)) |
| = | 0.128716 | / | 0.073405 |
| | = | 1.7535 |
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) |
| = | (123.043 / 969.905) | / | (103.838 / 944.95) |
| = | 0.126861 | / | 0.109887 |
| | = | 1.1545 |
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) |
| = | ((226.819 + 748.394) / 1398.696) | / | ((98.565 + 731.999) / 1121.243) |
| = | 0.69723 | / | 0.740753 |
| | = | 0.9412 |
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 |
| = | (58.06 - -2.553 | - | 86.447) | / | 1398.696 |
| | = | -0.01847 |
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.
OMZ Gruppa Uralmash-Izhora has a M-score of -2.85 suggests that the company is unlikely to be a manipulator.
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