Beach Energy Beneish M-Score Historical Data
The historical data trend for Beach Energy'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.
Beach Energy Beneish M-Score Chart
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Beach Energy Annual Data
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Trend |
Jun14 |
Jun15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
| Beneish M-Score |
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-0.37 |
-3.32 |
-2.34 |
-3.45 |
-2.91 |
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Beach Energy Semi-Annual Data
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Jun14 |
Dec14 |
Jun15 |
Dec15 |
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Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
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Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
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-3.45 |
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-2.91 |
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Competitive Comparison of Beach Energy's Beneish M-Score
For the Oil & Gas E&P subindustry, Beach Energy'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.
Beach Energy's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Beach Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Beach Energy's Beneish M-Score falls into.
Beach Energy 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 Beach Energy 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 * 1.1576 | + | 0.528 * 1.2363 | + | 0.404 * 0.806 | + | 0.892 * 0.8829 | + | 0.115 * 1.1469 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1868 | + | 4.679 * -0.099052 | - | 0.327 * 1.2199 |
| = | -2.94 |
* 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 (Jun23) TTM: | Last Year (Jun22) TTM: |
Total Receivables was $160 Mil.
Revenue was $1,085 Mil.
Gross Profit was $382 Mil.
Total Current Assets was $450 Mil.
Total Assets was $3,956 Mil.
Property, Plant and Equipment(Net PPE) was $3,404 Mil.
Depreciation, Depletion and Amortization(DDA) was $13 Mil.
Selling, General, & Admin. Expense(SGA) was $5 Mil.
Total Current Liabilities was $298 Mil.
Long-Term Debt & Capital Lease Obligation was $267 Mil.
Net Income was $269 Mil.
Gross Profit was $38 Mil.
Cash Flow from Operations was $623 Mil.
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Total Receivables was $156 Mil.
Revenue was $1,229 Mil.
Gross Profit was $535 Mil.
Total Current Assets was $489 Mil.
Total Assets was $3,585 Mil.
Property, Plant and Equipment(Net PPE) was $2,981 Mil.
Depreciation, Depletion and Amortization(DDA) was $13 Mil.
Selling, General, & Admin. Expense(SGA) was $5 Mil.
Total Current Liabilities was $345 Mil.
Long-Term Debt & Capital Lease Obligation was $74 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) |
| = | (159.799 / 1085.168) | / | (156.36 / 1229.164) |
| = | 0.147257 | / | 0.127208 |
| | = | 1.1576 |
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) |
| = | (534.856 / 1229.164) | / | (381.946 / 1085.168) |
| = | 0.435138 | / | 0.351969 |
| | = | 1.2363 |
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 - (449.732 + 3403.96) / 3956.309) | / | (1 - (488.967 + 2981.096) / 3585.453) |
| = | 0.025938 | / | 0.032183 |
| | = | 0.806 |
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 |
| = | 1085.168 | / | 1229.164 |
| | = | 0.8829 |
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)) |
| = | (13.422 / (13.422 + 2981.096)) | / | (13.356 / (13.356 + 3403.96)) |
| = | 0.004482 | / | 0.003908 |
| | = | 1.1469 |
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) |
| = | (5.302 / 1085.168) | / | (5.06 / 1229.164) |
| = | 0.004886 | / | 0.004117 |
| | = | 1.1868 |
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) |
| = | ((266.779 + 298.121) / 3956.309) | / | ((74.209 + 345.467) / 3585.453) |
| = | 0.142785 | / | 0.11705 |
| | = | 1.2199 |
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 |
| = | (268.993 - 37.651 | - | 623.221) | / | 3956.309 |
| | = | -0.099052 |
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.
Beach Energy has a M-score of -2.94 suggests that the company is unlikely to be a manipulator.
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