Orilina Properties Real Estate Investment Co (ATH:ORILINA) Beneish M-Score : -4.67 (As of Apr. 10, 2025)

View and export this data going back to 2023. Start your Free Trial

What is Orilina Properties Real Estate Investment Co 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.

Good Sign:

Beneish M-Score -4.67 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Orilina Properties Real Estate Investment Co's Beneish M-Score or its related term are showing as below:

ATH:ORILINA' s Beneish M-Score Range Over the Past 10 Years
Min: -4.67 Med: -3.17 Max: -1.67
Current: -4.67

During the past 4 years, the highest Beneish M-Score of Orilina Properties Real Estate Investment Co was -1.67. The lowest was -4.67. And the median was -3.17.

Orilina Properties Real Estate Investment Co Beneish M-Score Historical Data

The historical data trend for Orilina Properties Real Estate Investment Co'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.

* Premium members only.

Orilina Properties Real Estate Investment Co Beneish M-Score Chart

Orilina Properties Real Estate Investment Co Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-1.67

-4.67

Orilina Properties Real Estate Investment Co Semi-Annual Data
	Dec20	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial			-	-1.67	-	-4.67	-

Competitive Comparison of Orilina Properties Real Estate Investment Co's Beneish M-Score

For the Real Estate Services subindustry, Orilina Properties Real Estate Investment Co'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.

Orilina Properties Real Estate Investment Co's Beneish M-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Orilina Properties Real Estate Investment Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Orilina Properties Real Estate Investment Co's Beneish M-Score falls into.

Save Embed

;

Save Embed

;

Orilina Properties Real Estate Investment Co 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 Orilina Properties Real Estate Investment Co 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 * 1.5582

0.528 * 0.9804

0.404 * 0.7875

0.892 * 1.0765

0.115 * 0.5096

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * 0.187024

0.327 * 11.6894

-4.67

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was €0.88 Mil.
Revenue was €6.12 Mil.
Gross Profit was €5.41 Mil.
Total Current Assets was €63.53 Mil.
Total Assets was €176.20 Mil.
Property, Plant and Equipment(Net PPE) was €1.53 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.08 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €2.27 Mil.
Long-Term Debt & Capital Lease Obligation was €14.24 Mil.
Net Income was €10.03 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €-22.92 Mil.

Total Receivables was €0.52 Mil.
Revenue was €5.69 Mil.
Gross Profit was €4.93 Mil.
Total Current Assets was €22.75 Mil.
Total Assets was €124.53 Mil.
Property, Plant and Equipment(Net PPE) was €2.03 Mil.
Depreciation, Depletion and Amortization(DDA) was €0.05 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €1.00 Mil.
Long-Term Debt & Capital Lease Obligation was €0.00 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)
	=	(0.879 / 6.12)	/	(0.524 / 5.685)
	=	0.143627	/	0.092172
	=	1.5582

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)
	=	(4.928 / 5.685)	/	(5.411 / 6.12)
	=	0.866843	/	0.88415
	=	0.9804

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 - (63.526 + 1.533) / 176.197)	/	(1 - (22.751 + 2.03) / 124.529)
	=	0.63076	/	0.801002
	=	0.7875

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
	=	6.12	/	5.685
	=	1.0765

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))
	=	(0.052 / (0.052 + 2.03))	/	(0.079 / (0.079 + 1.533))
	=	0.024976	/	0.049007
	=	0.5096

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)
	=	(0 / 6.12)	/	(0 / 5.685)
	=	0	/	0
	=	1

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)
	=	((14.241 + 2.265) / 176.197)	/	((0 + 0.998) / 124.529)
	=	0.093679	/	0.008014
	=	11.6894

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
	=	(10.032 - 0	-	-22.921)	/	176.197
	=	0.187024

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.

Orilina Properties Real Estate Investment Co has a M-score of -4.67 suggests that the company is unlikely to be a manipulator.

Orilina Properties Real Estate Investment Co Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Orilina Properties Real Estate Investment Co's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Orilina Properties Real Estate Investment Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Orilina Properties Real Estate Investment Co (ATH:ORILINA) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

59 Vas. Sofias Avenue, 5th Floor, Athens, GRC, 115 21

Website

https://www.orilina.com

Orilina Properties Real Estate Investment Co is a company which aims to create significant value over the medium term, by penetrating the Greek market and executing a largely core investment strategy with elements of value-add, via active asset management. It is a real estate investment vehicle combining tax efficiency, liquidity in an otherwise illiquid property market, transparency, significant institutional Equity as seed capital investment, and high-calibre international and local management teams with proven profitability track record.

Orilina Properties Real Estate Investment Co Headlines

No Headlines