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.
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Washington H Soul Pattinson Annual Data
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Jul14 |
Jul15 |
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Jul22 |
Jul23 |
| Beneish M-Score |
Array
(
[0] => -
[1] => -
[2] => -
[3] => -
[4] => -
[5] => -2.63
[6] => -2.90
[7] => -2.88
[8] => -2.70
[9] => 16.04
)
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-2.63 |
-2.90 |
-2.88 |
-2.70 |
16.04 |
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Washington H Soul Pattinson Semi-Annual Data
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Jul15 |
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Jan24 |
| Beneish M-Score |
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- |
-2.70 |
- |
16.04 |
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Competitive Comparison
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 Beneish M-Score Distribution
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 * 22.3599 | + | 0.528 * 1.7242 | + | 0.404 * 0.9414 | + | 0.892 * 0.1413 | + | 0.115 * 4.0994 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 5.4992 | + | 4.679 * -0.079358 | - | 0.327 * 0.7863 |
| = | 16.04 |
* 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 (Jul23) TTM: | Last Year (Jul22) TTM: |
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.
Net Income was A$690.7 Mil.
Gross Profit was A$694.7 Mil.
Cash Flow from Operations was A$773.5 Mil.
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Total Receivables was A$83.1 Mil.
Revenue was A$2,554.9 Mil.
Gross Profit was A$1,548.2 Mil.
Total Current Assets was A$1,416.5 Mil.
Total Assets was A$9,888.3 Mil.
Property, Plant and Equipment(Net PPE) was A$291.6 Mil.
Depreciation, Depletion and Amortization(DDA) was A$155.3 Mil.
Selling, General, & Admin. Expense(SGA) was A$205.7 Mil.
Total Current Liabilities was A$402.3 Mil.
Long-Term Debt & Capital Lease Obligation was A$341.2 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) |
| = | (262.413 / 360.993) | / | (83.061 / 2554.93) |
| = | 0.72692 | / | 0.03251 |
| | = | 22.3599 |
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) |
| = | (1548.158 / 2554.93) | / | (126.869 / 360.993) |
| = | 0.605949 | / | 0.351444 |
| | = | 1.7242 |
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 - (1717.298 + 450.032) / 9797.187) | / | (1 - (1416.461 + 291.568) / 9888.333) |
| = | 0.77878 | / | 0.827268 |
| | = | 0.9414 |
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 |
| = | 360.993 | / | 2554.93 |
| | = | 0.1413 |
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)) |
| = | (155.331 / (155.331 + 291.568)) | / | (41.691 / (41.691 + 450.032)) |
| = | 0.347575 | / | 0.084786 |
| | = | 4.0994 |
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) |
| = | (159.863 / 360.993) | / | (205.747 / 2554.93) |
| = | 0.442842 | / | 0.080529 |
| | = | 5.4992 |
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) |
| = | ((204.022 + 375.241) / 9797.187) | / | ((341.24 + 402.32) / 9888.333) |
| = | 0.059125 | / | 0.075196 |
| | = | 0.7863 |
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 |
| = | (690.72 - 694.661 | - | 773.541) | / | 9797.187 |
| | = | -0.079358 |
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 16.04 signals that the company is likely to be a manipulator.
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