Philadelphia International Educational Investment Co (AMM:PIEC) Beneish M-Score : 0.00 (As of Apr. 05, 2025)

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What is Philadelphia International Educational Investment Co 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.

The historical rank and industry rank for Philadelphia International Educational Investment Co's Beneish M-Score or its related term are showing as below:

During the past 9 years, the highest Beneish M-Score of Philadelphia International Educational Investment Co was -2.27. The lowest was -5.18. And the median was -2.74.

Philadelphia International Educational Investment Co Beneish M-Score Historical Data

The historical data trend for Philadelphia International Educational Investment Co'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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Philadelphia International Educational Investment Co Beneish M-Score Chart

Philadelphia International Educational Investment Co Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.27

-3.05

-5.18

-2.74

Philadelphia International Educational Investment Co Quarterly Data
	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-2.74	-	-	-	-

Competitive Comparison of Philadelphia International Educational Investment Co's Beneish M-Score

For the Education & Training Services subindustry, Philadelphia International Educational Investment Co'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.

Philadelphia International Educational Investment Co's Beneish M-Score Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Philadelphia International Educational Investment Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Philadelphia International Educational Investment Co's Beneish M-Score falls into.

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Philadelphia International Educational Investment Co 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 Philadelphia International Educational Investment Co 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec24) TTM:

Last Year (Dec23) TTM:

Total Receivables was JOD2.55 Mil.
Revenue was 6.215 + 1.893 + 3.12 + 4.885 = JOD16.11 Mil.
Gross Profit was 6.215 + 1.893 + 3.12 + 4.885 = JOD16.11 Mil.
Total Current Assets was JOD5.52 Mil.
Total Assets was JOD31.16 Mil.
Property, Plant and Equipment(Net PPE) was JOD25.64 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.81 Mil.
Selling, General, & Admin. Expense(SGA) was JOD7.16 Mil.
Total Current Liabilities was JOD6.26 Mil.
Long-Term Debt & Capital Lease Obligation was JOD0.00 Mil.
Net Income was 1.435 + -0.447 + 0.334 + 1.691 = JOD3.01 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = JOD0.00 Mil.
Cash Flow from Operations was 0.418 + 2.157 + -0.864 + 3.366 = JOD5.08 Mil.

Total Receivables was JOD2.10 Mil.
Revenue was 5.686 + 1.626 + 3.017 + 3.647 = JOD13.98 Mil.
Gross Profit was 5.686 + 1.626 + 3.017 + 3.647 = JOD13.98 Mil.
Total Current Assets was JOD2.67 Mil.
Total Assets was JOD28.80 Mil.
Property, Plant and Equipment(Net PPE) was JOD26.13 Mil.
Depreciation, Depletion and Amortization(DDA) was JOD0.81 Mil.
Selling, General, & Admin. Expense(SGA) was JOD7.49 Mil.
Total Current Liabilities was JOD5.51 Mil.
Long-Term Debt & Capital Lease Obligation was JOD1.20 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)
	=	(2.547 / 16.113)	/	(2.103 / 13.976)
	=	0.158071	/	0.150472
	=

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)
	=	(13.976 / 13.976)	/	(16.113 / 16.113)
	=	1	/	1
	=

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 - (5.523 + 25.636) / 31.158)	/	(1 - (2.671 + 26.132) / 28.803)
	=	-3.2E-5	/	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
	=	16.113	/	13.976
	=

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))
	=	(0.808 / (0.808 + 26.132))	/	(0.805 / (0.805 + 25.636))
	=	0.029993	/	0.030445
	=

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)
	=	(7.156 / 16.113)	/	(7.492 / 13.976)
	=	0.444113	/	0.536062
	=

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)
	=	((0 + 6.259) / 31.158)	/	((1.195 + 5.511) / 28.803)
	=	0.200879	/	0.232823
	=

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
	=	(3.013 - 0	-	5.077)	/	31.158
	=	-0.066243

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.

Philadelphia International Educational Investment Co Beneish M-Score Related Terms

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Philadelphia International Educational Investment Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Philadelphia International Educational Investment Co (AMM:PIEC) » Definitions » Beneish M-Score

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N/A

Address

Jarash Road, 20 KM out of Amman, P.O. Box 1, Amman, JOR, 19392

Website

https://www.philadelphia.edu.jo

Philadelphia International Educational Investment Co operates in the education sector. The group offers undergraduate studies and graduate studies in the field of business, arts, engineering, information technology, pharmacy, science, law, and nursing.

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