Ventia Services Group Beneish M-Score Historical Data
The historical data trend for Ventia Services Group'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.
Ventia Services Group Beneish M-Score Chart
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Ventia Services Group Annual Data
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|
Trend |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
-2.65 |
|
Ventia Services Group Semi-Annual Data
|
|
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
- |
- |
- |
- |
-2.65 |
Competitive Comparison of Ventia Services Group's Beneish M-Score
For the Infrastructure Operations subindustry, Ventia Services Group'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.
Ventia Services Group's Beneish M-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, Ventia Services Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ventia Services Group's Beneish M-Score falls into.
Ventia Services Group 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 Ventia Services Group 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 * 0.9411 | + | 0.528 * 1.0042 | + | 0.404 * 0.929 | + | 0.892 * 1.0985 | + | 0.115 * 1.0223 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.005 | + | 4.679 * -0.040803 | - | 0.327 * 0.971 |
| = | -2.65 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was A$848 Mil.
Revenue was A$5,676 Mil.
Gross Profit was A$5,251 Mil.
Total Current Assets was A$1,303 Mil.
Total Assets was A$2,934 Mil.
Property, Plant and Equipment(Net PPE) was A$267 Mil.
Depreciation, Depletion and Amortization(DDA) was A$146 Mil.
Selling, General, & Admin. Expense(SGA) was A$4,625 Mil.
Total Current Liabilities was A$1,239 Mil.
Long-Term Debt & Capital Lease Obligation was A$833 Mil.
Net Income was A$190 Mil.
Gross Profit was A$4 Mil.
Cash Flow from Operations was A$306 Mil.
|
Total Receivables was A$820 Mil.
Revenue was A$5,168 Mil.
Gross Profit was A$4,800 Mil.
Total Current Assets was A$1,147 Mil.
Total Assets was A$2,859 Mil.
Property, Plant and Equipment(Net PPE) was A$281 Mil.
Depreciation, Depletion and Amortization(DDA) was A$159 Mil.
Selling, General, & Admin. Expense(SGA) was A$4,189 Mil.
Total Current Liabilities was A$1,248 Mil.
Long-Term Debt & Capital Lease Obligation was A$832 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) |
| = | (847.7 / 5676.4) | / | (820 / 5167.5) |
| = | 0.149338 | / | 0.158684 |
| | = | 0.9411 |
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) |
| = | (4800.3 / 5167.5) | / | (5251.1 / 5676.4) |
| = | 0.92894 | / | 0.925076 |
| | = | 1.0042 |
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 - (1303.4 + 266.7) / 2933.6) | / | (1 - (1147.2 + 281.4) / 2859) |
| = | 0.464787 | / | 0.500315 |
| | = | 0.929 |
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 |
| = | 5676.4 | / | 5167.5 |
| | = | 1.0985 |
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)) |
| = | (159.1 / (159.1 + 281.4)) | / | (145.7 / (145.7 + 266.7)) |
| = | 0.36118 | / | 0.353298 |
| | = | 1.0223 |
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) |
| = | (4624.8 / 5676.4) | / | (4189.4 / 5167.5) |
| = | 0.814742 | / | 0.810721 |
| | = | 1.005 |
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) |
| = | ((833.1 + 1239.2) / 2933.6) | / | ((831.5 + 1248.4) / 2859) |
| = | 0.706402 | / | 0.727492 |
| | = | 0.971 |
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 |
| = | (189.8 - 3.6 | - | 305.9) | / | 2933.6 |
| | = | -0.040803 |
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.
Ventia Services Group has a M-score of -2.65 suggests that the company is unlikely to be a manipulator.
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