Warrix Sport PCL Beneish M-Score Historical Data
The historical data trend for Warrix Sport PCL'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.
Warrix Sport PCL Beneish M-Score Chart
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Warrix Sport PCL Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
-2.38 |
-1.81 |
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Warrix Sport PCL Quarterly Data
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Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
-2.38 |
-2.67 |
-2.16 |
-1.81 |
Competitive Comparison of Warrix Sport PCL's Beneish M-Score
For the Leisure subindustry, Warrix Sport PCL'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.
Warrix Sport PCL's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Warrix Sport PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Warrix Sport PCL's Beneish M-Score falls into.
Warrix Sport PCL 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 Warrix Sport PCL 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 * 1.1891 | + | 0.528 * 0.9811 | + | 0.404 * 0.9829 | + | 0.892 * 1.3445 | + | 0.115 * 0.8241 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9946 | + | 4.679 * 0.057429 | - | 0.327 * 1.1258 |
| = | -1.81 |
* 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 (Dec24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was ฿495 Mil.
Revenue was 447.006 + 428.634 + 350.154 + 393.235 = ฿1,619 Mil.
Gross Profit was 222.334 + 214.484 + 160.437 + 189.868 = ฿787 Mil.
Total Current Assets was ฿1,520 Mil.
Total Assets was ฿1,883 Mil.
Property, Plant and Equipment(Net PPE) was ฿231 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿54 Mil.
Selling, General, & Admin. Expense(SGA) was ฿568 Mil.
Total Current Liabilities was ฿272 Mil.
Long-Term Debt & Capital Lease Obligation was ฿121 Mil.
Net Income was 57.255 + 54.634 + 16.766 + 55.022 = ฿184 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ฿0 Mil.
Cash Flow from Operations was -47.496 + -3.924 + 0 + 126.933 = ฿76 Mil.
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Total Receivables was ฿310 Mil.
Revenue was 325.443 + 256.101 + 249.817 + 372.83 = ฿1,204 Mil.
Gross Profit was 159.637 + 123.588 + 112.299 + 178.845 = ฿574 Mil.
Total Current Assets was ฿1,363 Mil.
Total Assets was ฿1,736 Mil.
Property, Plant and Equipment(Net PPE) was ฿249 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿46 Mil.
Selling, General, & Admin. Expense(SGA) was ฿425 Mil.
Total Current Liabilities was ฿215 Mil.
Long-Term Debt & Capital Lease Obligation was ฿107 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) |
| = | (495.486 / 1619.029) | / | (309.918 / 1204.191) |
| = | 0.306039 | / | 0.257366 |
| | = | 1.1891 |
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) |
| = | (574.369 / 1204.191) | / | (787.123 / 1619.029) |
| = | 0.476975 | / | 0.48617 |
| | = | 0.9811 |
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 - (1520.079 + 231.43) / 1883.425) | / | (1 - (1363.044 + 248.94) / 1735.672) |
| = | 0.07004 | / | 0.071262 |
| | = | 0.9829 |
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 |
| = | 1619.029 | / | 1204.191 |
| | = | 1.3445 |
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)) |
| = | (46.063 / (46.063 + 248.94)) | / | (54.099 / (54.099 + 231.43)) |
| = | 0.156144 | / | 0.189469 |
| | = | 0.8241 |
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) |
| = | (567.905 / 1619.029) | / | (424.675 / 1204.191) |
| = | 0.350769 | / | 0.352664 |
| | = | 0.9946 |
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) |
| = | ((121.394 + 271.826) / 1883.425) | / | ((107.246 + 214.626) / 1735.672) |
| = | 0.208779 | / | 0.185445 |
| | = | 1.1258 |
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 |
| = | (183.677 - 0 | - | 75.513) | / | 1883.425 |
| | = | 0.057429 |
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.
Warrix Sport PCL has a M-score of -1.81 suggests that the company is unlikely to be a manipulator.
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