Sendas Distribuidora Beneish M-Score Historical Data
The historical data trend for Sendas Distribuidora'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.
Sendas Distribuidora Beneish M-Score Chart
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Sendas Distribuidora Annual Data
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Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-1.69 |
-2.41 |
-2.78 |
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Sendas Distribuidora Quarterly Data
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Dec18 |
Sep19 |
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Mar20 |
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Dec20 |
Mar21 |
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Mar23 |
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Mar24 |
| Beneish M-Score |
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-2.89 |
-2.78 |
-2.90 |
Competitive Comparison of Sendas Distribuidora's Beneish M-Score
For the Grocery Stores subindustry, Sendas Distribuidora'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.
Sendas Distribuidora's Beneish M-Score Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Sendas Distribuidora's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sendas Distribuidora's Beneish M-Score falls into.
Sendas Distribuidora 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 Sendas Distribuidora 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 * 1.1044 | + | 0.528 * 1.0078 | + | 0.404 * 0.9063 | + | 0.892 * 1.2447 | + | 0.115 * 0.7962 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.965 | + | 4.679 * -0.138938 | - | 0.327 * 0.9868 |
| = | -2.86 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was $429 Mil.
Revenue was 3458.372 + 3759.541 + 3442.606 + 3293.158 = $13,954 Mil.
Gross Profit was 562.673 + 626.964 + 558.244 + 528.257 = $2,276 Mil.
Total Current Assets was $2,670 Mil.
Total Assets was $8,376 Mil.
Property, Plant and Equipment(Net PPE) was $4,284 Mil.
Depreciation, Depletion and Amortization(DDA) was $313 Mil.
Selling, General, & Admin. Expense(SGA) was $1,291 Mil.
Total Current Liabilities was $3,486 Mil.
Long-Term Debt & Capital Lease Obligation was $3,871 Mil.
Net Income was 12.049 + 60.615 + 37.459 + 32.14 = $142 Mil.
Non Operating Income was -9.237 + 2.653 + 2.43 + 2.472 = $-2 Mil.
Cash Flow from Operations was 91.771 + 523.899 + 154.292 + 537.734 = $1,308 Mil.
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Total Receivables was $312 Mil.
Revenue was 2898.284 + 3041.522 + 2637.882 + 2633.08 = $11,211 Mil.
Gross Profit was 466.152 + 521.981 + 429.857 + 424.946 = $1,843 Mil.
Total Current Assets was $2,376 Mil.
Total Assets was $7,505 Mil.
Property, Plant and Equipment(Net PPE) was $3,722 Mil.
Depreciation, Depletion and Amortization(DDA) was $213 Mil.
Selling, General, & Admin. Expense(SGA) was $1,075 Mil.
Total Current Liabilities was $2,942 Mil.
Long-Term Debt & Capital Lease Obligation was $3,739 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) |
| = | (429.134 / 13953.677) | / | (312.176 / 11210.768) |
| = | 0.030754 | / | 0.027846 |
| | = | 1.1044 |
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) |
| = | (1842.936 / 11210.768) | / | (2276.138 / 13953.677) |
| = | 0.16439 | / | 0.163121 |
| | = | 1.0078 |
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 - (2669.987 + 4283.907) / 8376.039) | / | (1 - (2376.454 + 3722.305) / 7504.704) |
| = | 0.169787 | / | 0.187342 |
| | = | 0.9063 |
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 |
| = | 13953.677 | / | 11210.768 |
| | = | 1.2447 |
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)) |
| = | (213.266 / (213.266 + 3722.305)) | / | (312.853 / (312.853 + 4283.907)) |
| = | 0.054189 | / | 0.068059 |
| | = | 0.7962 |
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) |
| = | (1291.195 / 13953.677) | / | (1075.052 / 11210.768) |
| = | 0.092534 | / | 0.095895 |
| | = | 0.965 |
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) |
| = | ((3871.24 + 3486.285) / 8376.039) | / | ((3738.625 + 2941.865) / 7504.704) |
| = | 0.878401 | / | 0.890174 |
| | = | 0.9868 |
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 |
| = | (142.263 - -1.682 | - | 1307.696) | / | 8376.039 |
| | = | -0.138938 |
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.
Sendas Distribuidora has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.
Sendas Distribuidora (Sendas Distribuidora) Business Description
Traded in Other Exchanges
Address
Avenida Ayrton Senna, No. 6,000, Lote 2, Pal 48959, Anexo A, Jacarepagua, Rio De Janeiro, RJ, BRA, 22775-005
Sendas Distribuidora SA is involved in the consumer goods business. Its cash and carry operations involve sales of more than 8,000 items of grocery, food, perishable, beverage, wrapping, hygiene, and cleaning products, among others. Its customers include prepared food retailers (including restaurants, pizzerias, and snack bars), end-users (including schools, small businesses, religious institutions, hospitals, and hotels), conventional retailers (such as grocery stores and neighborhood supermarkets), and individuals. Its stores are located throughout 23 Brazilian states.
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