Washington H Soul Pattinson Beneish M-Score Historical Data
The historical data trend for Washington H Soul Pattinson'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.
Washington H Soul Pattinson Beneish M-Score Chart
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Washington H Soul Pattinson Annual Data
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Jul24 |
| Beneish M-Score |
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-2.90 |
-2.88 |
-2.70 |
16.04 |
-1.47 |
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Washington H Soul Pattinson Semi-Annual Data
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| Beneish M-Score |
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-2.70 |
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16.04 |
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-1.47 |
Competitive Comparison of Washington H Soul Pattinson's Beneish M-Score
For the Capital Markets subindustry, Washington H Soul Pattinson'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.
Washington H Soul Pattinson's Beneish M-Score Distribution in the Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Washington H Soul Pattinson's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Washington H Soul Pattinson's Beneish M-Score falls into.
Washington H Soul Pattinson 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 Washington H Soul Pattinson 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 * 1.7595 | + | 0.528 * 1.1109 | + | 0.404 * 1.0499 | + | 0.892 * 1.633 | + | 0.115 * 1.1048 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9193 | + | 4.679 * -0.037528 | - | 0.327 * 1.5513 |
| = | -1.47 |
* 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 (Jul24) TTM: | Last Year (Jul23) TTM: |
Total Receivables was A$754.0 Mil.
Revenue was A$589.5 Mil.
Gross Profit was A$186.5 Mil.
Total Current Assets was A$1,159.8 Mil.
Total Assets was A$10,397.7 Mil.
Property, Plant and Equipment(Net PPE) was A$736.3 Mil.
Depreciation, Depletion and Amortization(DDA) was A$61.2 Mil.
Selling, General, & Admin. Expense(SGA) was A$240.0 Mil.
Total Current Liabilities was A$350.1 Mil.
Long-Term Debt & Capital Lease Obligation was A$603.6 Mil.
Net Income was A$498.8 Mil.
Gross Profit was A$459.7 Mil.
Cash Flow from Operations was A$429.3 Mil.
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Total Receivables was A$262.4 Mil.
Revenue was A$361.0 Mil.
Gross Profit was A$126.9 Mil.
Total Current Assets was A$1,717.3 Mil.
Total Assets was A$9,797.2 Mil.
Property, Plant and Equipment(Net PPE) was A$450.0 Mil.
Depreciation, Depletion and Amortization(DDA) was A$41.7 Mil.
Selling, General, & Admin. Expense(SGA) was A$159.9 Mil.
Total Current Liabilities was A$375.2 Mil.
Long-Term Debt & Capital Lease Obligation was A$204.0 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) |
| = | (754 / 589.5) | / | (262.413 / 360.993) |
| = | 1.27905 | / | 0.72692 |
| | = | 1.7595 |
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) |
| = | (126.869 / 360.993) | / | (186.5 / 589.5) |
| = | 0.351444 | / | 0.31637 |
| | = | 1.1109 |
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 - (1159.8 + 736.3) / 10397.7) | / | (1 - (1717.298 + 450.032) / 9797.187) |
| = | 0.817642 | / | 0.77878 |
| | = | 1.0499 |
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 |
| = | 589.5 | / | 360.993 |
| | = | 1.633 |
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)) |
| = | (41.691 / (41.691 + 450.032)) | / | (61.2 / (61.2 + 736.3)) |
| = | 0.084786 | / | 0.07674 |
| | = | 1.1048 |
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) |
| = | (240 / 589.5) | / | (159.863 / 360.993) |
| = | 0.407125 | / | 0.442842 |
| | = | 0.9193 |
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) |
| = | ((603.6 + 350.1) / 10397.7) | / | ((204.022 + 375.241) / 9797.187) |
| = | 0.091722 | / | 0.059125 |
| | = | 1.5513 |
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 |
| = | (498.8 - 459.7 | - | 429.3) | / | 10397.7 |
| | = | -0.037528 |
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.
Washington H Soul Pattinson has a M-score of -1.47 signals that the company is likely to be a manipulator.
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