E7 Group PJSC Beneish M-Score Historical Data
The historical data trend for E7 Group PJSC'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.
E7 Group PJSC Beneish M-Score Chart
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E7 Group PJSC Annual Data
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E7 Group PJSC Quarterly Data
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Competitive Comparison of E7 Group PJSC's Beneish M-Score
For the Conglomerates subindustry, E7 Group PJSC'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.
E7 Group PJSC's Beneish M-Score Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, E7 Group PJSC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where E7 Group PJSC's Beneish M-Score falls into.
E7 Group PJSC 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 E7 Group PJSC 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 * | + | 0.528 * | + | 0.404 * | + | 0.892 * | + | 0.115 * |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * | + | 4.679 * | - | 0.327 * |
| = | |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was د.إ218.8 Mil.
Revenue was 190.903 + 174.751 + 126.046 + 168.378 = د.إ660.1 Mil.
Gross Profit was 68.317 + 60.83 + 27.456 + 55.605 = د.إ212.2 Mil.
Total Current Assets was د.إ1,963.3 Mil.
Total Assets was د.إ2,344.5 Mil.
Property, Plant and Equipment(Net PPE) was د.إ378.2 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ37.7 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ26.1 Mil.
Total Current Liabilities was د.إ432.6 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ10.3 Mil.
Net Income was 73.347 + 64.505 + 26.628 + -150.533 = د.إ13.9 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = د.إ0.0 Mil.
Cash Flow from Operations was 153.65 + 3.895 + -17.147 + 51.577 = د.إ192.0 Mil.
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Total Receivables was د.إ0.5 Mil.
Revenue was 177.589 + 158.606 + 127.358 + 0 = د.إ463.6 Mil.
Gross Profit was 61.286 + 48.655 + 34.368 + 0 = د.إ144.3 Mil.
Total Current Assets was د.إ368.9 Mil.
Total Assets was د.إ368.9 Mil.
Property, Plant and Equipment(Net PPE) was د.إ0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ27.4 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ13.7 Mil.
Total Current Liabilities was د.إ420.6 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ0.0 Mil.
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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) |
| = | (218.811 / 660.078) | / | (0.497 / 463.553) |
| = | 0.331493 | / | 0.001072 |
| | = | |
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) |
| = | (144.309 / 463.553) | / | (212.208 / 660.078) |
| = | 0.311311 | / | 0.321489 |
| | = | |
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 - (1963.33 + 378.186) / 2344.481) | / | (1 - (368.943 + 0) / 368.943) |
| = | 0.001265 | / | 0 |
| | = | |
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 |
| = | 660.078 | / | 463.553 |
| | = | |
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)) |
| = | (27.409 / (27.409 + 0)) | / | (37.737 / (37.737 + 378.186)) |
| = | 1 | / | 0.090731 |
| | = | |
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) |
| = | (26.112 / 660.078) | / | (13.707 / 463.553) |
| = | 0.039559 | / | 0.029569 |
| | = | |
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) |
| = | ((10.294 + 432.591) / 2344.481) | / | ((0 + 420.606) / 368.943) |
| = | 0.188905 | / | 1.14003 |
| | = | |
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 |
| = | (13.947 - 0 | - | 191.975) | / | 2344.481 |
| | = | -0.075935 |
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.
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