Lambrakis Press Group (ATH:DOL) Beneish M-Score : 0.00 (As of May. 17, 2024)

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What is Lambrakis Press Group 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 Lambrakis Press Group's Beneish M-Score or its related term are showing as below:

During the past 11 years, the highest Beneish M-Score of Lambrakis Press Group was 0.00. The lowest was 0.00. And the median was 0.00.

Lambrakis Press Group Beneish M-Score Historical Data

The historical data trend for Lambrakis Press 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.

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Lambrakis Press Group Beneish M-Score Chart

Lambrakis Press Group Annual Data

Trend

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Beneish M-Score

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-4.66

-3.75

Lambrakis Press Group Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13
Beneish M-Score	Get a 7-Day Free Trial											-5.91	-3.75	-3.60	-3.57	-3.17

Competitive Comparison of Lambrakis Press Group's Beneish M-Score

For the Publishing subindustry, Lambrakis Press 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.

Lambrakis Press Group's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Lambrakis Press Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Lambrakis Press Group's Beneish M-Score falls into.

Lambrakis Press 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 Lambrakis Press Group 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 * 0.8031

0.528 * 1.0204

0.404 * 2.0538

0.892 * 0.9116

0.115 * 0.8015

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9836

4.679 * -0.205941

0.327 * 1.2088

-3.36

This Year (Sep13) TTM:

Last Year (Sep12) TTM:

Total Receivables was €22.35 Mil.
Revenue was 20.371 + 23.886 + 20.884 + 23.879 = €89.02 Mil.
Gross Profit was 6.18 + 8.72 + 4.527 + 5.187 = €24.61 Mil.
Total Current Assets was €45.76 Mil.
Total Assets was €145.00 Mil.
Property, Plant and Equipment(Net PPE) was €67.59 Mil.
Depreciation, Depletion and Amortization(DDA) was €5.25 Mil.
Selling, General, & Admin. Expense(SGA) was €35.61 Mil.
Total Current Liabilities was €160.27 Mil.
Long-Term Debt & Capital Lease Obligation was €46.22 Mil.
Net Income was -7.772 + -3.659 + -10.625 + -10.402 = €-32.46 Mil.
Non Operating Income was 0.012 + -0.002 + -0.003 + 0.002 = €0.01 Mil.
Cash Flow from Operations was 3.342 + 0.092 + -4.069 + -1.971 = €-2.61 Mil.

Total Receivables was €30.53 Mil.
Revenue was 21.831 + 26.437 + 23.895 + 25.49 = €97.65 Mil.
Gross Profit was 5.945 + 7.871 + 6.418 + 7.317 = €27.55 Mil.
Total Current Assets was €65.13 Mil.
Total Assets was €172.40 Mil.
Property, Plant and Equipment(Net PPE) was €88.95 Mil.
Depreciation, Depletion and Amortization(DDA) was €5.46 Mil.
Selling, General, & Admin. Expense(SGA) was €39.71 Mil.
Total Current Liabilities was €155.79 Mil.
Long-Term Debt & Capital Lease Obligation was €47.31 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)
	=	(22.348 / 89.02)	/	(30.526 / 97.653)
	=	0.251045	/	0.312597
	=	0.8031

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)
	=	(27.551 / 97.653)	/	(24.614 / 89.02)
	=	0.282132	/	0.2765
	=	1.0204

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 - (45.755 + 67.585) / 144.998)	/	(1 - (65.126 + 88.945) / 172.398)
	=	0.218334	/	0.106306
	=	2.0538

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
	=	89.02	/	97.653
	=	0.9116

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))
	=	(5.457 / (5.457 + 88.945))	/	(5.253 / (5.253 + 67.585))
	=	0.057806	/	0.072119
	=	0.8015

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)
	=	(35.608 / 89.02)	/	(39.712 / 97.653)
	=	0.4	/	0.406664
	=	0.9836

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)
	=	((46.215 + 160.268) / 144.998)	/	((47.306 + 155.791) / 172.398)
	=	1.42404	/	1.178071
	=	1.2088

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
	=	(-32.458 - 0.009	-	-2.606)	/	144.998
	=	-0.205941

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.

Lambrakis Press Group has a M-score of -3.36 suggests that the company is unlikely to be a manipulator.

Lambrakis Press Group Beneish M-Score Related Terms

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