Organizacion Terpel (BOG:TERPEL) Beneish M-Score : 0.00 (As of Jun. 24, 2024)

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What is Organizacion Terpel 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 Organizacion Terpel's Beneish M-Score or its related term are showing as below:

During the past 10 years, the highest Beneish M-Score of Organizacion Terpel was 0.00. The lowest was 0.00. And the median was 0.00.

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.

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Organizacion Terpel Beneish M-Score Chart

Organizacion Terpel Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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-2.11

-3.01

-3.12

-2.23

-1.87

Organizacion Terpel Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Beneish M-Score	Get a 7-Day Free Trial															-2.07	-1.65	-	-1.87	-2.06

Competitive Comparison of Organizacion Terpel's Beneish M-Score

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's Beneish M-Score Distribution in the 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:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.8489

0.528 * 1.2159

0.404 * 0.9129

0.892 * 1.4422

0.115 * 1.037

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8787

4.679 * 0.015279

0.327 * 1.0205

-2.06

This Year (Mar23) TTM:

Last Year (Mar22) TTM:

Total Receivables was COP1,643,597 Mil.
Revenue was 9148909.146 + 9581564.853 + 9562601.478 + 8814624.57 = COP37,107,700 Mil.
Gross Profit was 734520.757 + 790818.457 + 636340.568 + 771844.992 = COP2,933,525 Mil.
Total Current Assets was COP4,266,349 Mil.
Total Assets was COP9,869,661 Mil.
Property, Plant and Equipment(Net PPE) was COP4,114,493 Mil.
Depreciation, Depletion and Amortization(DDA) was COP432,056 Mil.
Selling, General, & Admin. Expense(SGA) was COP773,941 Mil.
Total Current Liabilities was COP3,500,452 Mil.
Long-Term Debt & Capital Lease Obligation was COP3,038,357 Mil.
Net Income was 44210.077 + 41274.086 + 8183.87 + 131451.542 = COP225,120 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = COP0 Mil.
Cash Flow from Operations was -15810.399 + 449046.236 + 58970.585 + -417882.369 = COP74,324 Mil.

Total Receivables was COP1,342,579 Mil.
Revenue was 7475558.042 + 6955473.92 + 6181229.931 + 5118214.322 = COP25,730,476 Mil.
Gross Profit was 685498.178 + 638674.094 + 601170.753 + 547873.58 = COP2,473,217 Mil.
Total Current Assets was COP3,297,385 Mil.
Total Assets was COP8,210,369 Mil.
Property, Plant and Equipment(Net PPE) was COP3,556,252 Mil.
Depreciation, Depletion and Amortization(DDA) was COP388,742 Mil.
Selling, General, & Admin. Expense(SGA) was COP610,713 Mil.
Total Current Liabilities was COP2,646,660 Mil.
Long-Term Debt & Capital Lease Obligation was COP2,683,827 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)
	=	(1643596.994 / 37107700.047)	/	(1342579.307 / 25730476.215)
	=	0.044293	/	0.052179
	=	0.8489

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)
	=	(2473216.605 / 25730476.215)	/	(2933524.774 / 37107700.047)
	=	0.09612	/	0.079054
	=	1.2159

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 - (4266349.178 + 4114492.894) / 9869660.579)	/	(1 - (3297385.237 + 3556251.935) / 8210368.794)
	=	0.150848	/	0.165246
	=	0.9129

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
	=	37107700.047	/	25730476.215
	=	1.4422

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))
	=	(388741.872 / (388741.872 + 3556251.935))	/	(432056.063 / (432056.063 + 4114492.894))
	=	0.098541	/	0.095029
	=	1.037

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)
	=	(773940.823 / 37107700.047)	/	(610712.998 / 25730476.215)
	=	0.020857	/	0.023735
	=	0.8787

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)
	=	((3038357.131 + 3500452.147) / 9869660.579)	/	((2683827.232 + 2646660.423) / 8210368.794)
	=	0.662516	/	0.649239
	=	1.0205

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
	=	(225119.575 - 0	-	74324.053)	/	9869660.579
	=	0.015279

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 -2.06 suggests that the company is unlikely to be a manipulator.

Organizacion Terpel Beneish M-Score Related Terms

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Organizacion Terpel (BOG:TERPEL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Organizacion Terpel SA (BOG:TERPEL) » Definitions » Beneish M-Score

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Address

Carrera 7 No. 75-51, Bogota, COL

Website

https://www.terpel.com

Organizacion Terpel SA is engaged in the business of dealing with lubricant oils, operating service stations and provide car wash services. The company also services the marine fuel market of cargo ships, dredgers, tugboats, offshore equipment's and barges that reach Colombian ports. Also, the company serves the aviation market with various types of fuels required. Geographically, the company operates in Colombia, Panama, and Other countries out of which Colombia generates maximum revenue.

Organizacion Terpel (BOG:TERPEL) Headlines

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