Organizacion Terpel Beneish M-Score Historical Data
The historical data trend for Organizacion Terpel'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.
Organizacion Terpel Beneish M-Score Chart
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Organizacion Terpel Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-3.12 |
-2.23 |
-1.90 |
-3.30 |
-3.20 |
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Organizacion Terpel Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-3.30 |
-3.32 |
-3.25 |
-3.42 |
-3.20 |
BOG:TERPEL vs PSX, VLO, MPC: Beneish M-Score Comparison
For the Oil & Gas Refining & Marketing subindustry, Organizacion Terpel'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.
Organizacion Terpel Beneish M-Score vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Organizacion Terpel's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Organizacion Terpel's Beneish M-Score falls into.
Organizacion Terpel 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 Organizacion Terpel 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 * 0.8196 | + | 0.528 * 0.896 | + | 0.404 * 0.9287 | + | 0.892 * 1.0156 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0371 | + | 4.679 * -0.094557 | - | 0.327 * 1.1165 |
| = | -3.20 |
* 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 (Dec23) TTM: |
Total Receivables was COP1,217,402 Mil.
Revenue was 8950587.885 + 8426597.496 + 7720351.564 + 8838168.435 = COP33,935,705 Mil.
Gross Profit was 915766.247 + 879756.981 + 852429.203 + 882266.769 = COP3,530,219 Mil.
Total Current Assets was COP4,824,414 Mil.
Total Assets was COP10,175,384 Mil.
Property, Plant and Equipment(Net PPE) was COP3,972,085 Mil.
Depreciation, Depletion and Amortization(DDA) was COP0 Mil.
Selling, General, & Admin. Expense(SGA) was COP2,118,543 Mil.
Total Current Liabilities was COP3,639,470 Mil.
Long-Term Debt & Capital Lease Obligation was COP0 Mil.
Net Income was 109719.709 + 153354.163 + 121181.51 + 146500.576 = COP530,756 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = COP0 Mil.
Cash Flow from Operations was 342603.97 + 647613.72 + 301663.294 + 201031.326 = COP1,492,912 Mil.
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Total Receivables was COP1,462,614 Mil.
Revenue was 8588037.03 + 8568068.222 + 7110575.775 + 9148909.146 = COP33,415,590 Mil.
Gross Profit was 863016.799 + 862809.493 + 638091.137 + 750643.968 = COP3,114,561 Mil.
Total Current Assets was COP4,035,784 Mil.
Total Assets was COP9,337,716 Mil.
Property, Plant and Equipment(Net PPE) was COP3,939,357 Mil.
Depreciation, Depletion and Amortization(DDA) was COP0 Mil.
Selling, General, & Admin. Expense(SGA) was COP2,011,358 Mil.
Total Current Liabilities was COP2,991,492 Mil.
Long-Term Debt & Capital Lease Obligation was COP0 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) |
| = | (1217401.95 / 33935705.38) | / | (1462614.066 / 33415590.173) |
| = | 0.035874 | / | 0.04377 |
| | = | 0.8196 |
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) |
| = | (3114561.397 / 33415590.173) | / | (3530219.2 / 33935705.38) |
| = | 0.093207 | / | 0.104027 |
| | = | 0.896 |
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 - (4824413.779 + 3972085.359) / 10175384.437) | / | (1 - (4035783.812 + 3939357.242) / 9337716.408) |
| = | 0.135512 | / | 0.145922 |
| | = | 0.9287 |
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 |
| = | 33935705.38 | / | 33415590.173 |
| | = | 1.0156 |
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 / (0 + 3939357.242)) | / | (0 / (0 + 3972085.359)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (2118543.376 / 33935705.38) | / | (2011357.94 / 33415590.173) |
| = | 0.062428 | / | 0.060192 |
| | = | 1.0371 |
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) |
| = | ((0 + 3639469.872) / 10175384.437) | / | ((0 + 2991492.084) / 9337716.408) |
| = | 0.357674 | / | 0.320367 |
| | = | 1.1165 |
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 |
| = | (530755.958 - 0 | - | 1492912.31) | / | 10175384.437 |
| | = | -0.094557 |
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.
Organizacion Terpel has a M-score of -3.20 suggests that the company is unlikely to be a manipulator.
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