Sheraton Properties & Finance Beneish M-Score Historical Data
The historical data trend for Sheraton Properties & Finance'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.
Sheraton Properties & Finance Beneish M-Score Chart
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Sheraton Properties & Finance Annual Data
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Trend |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
Mar25 |
Mar26 |
| Beneish M-Score |
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2.54 |
1.21 |
40.75 |
158.68 |
-2.26 |
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Sheraton Properties & Finance Quarterly Data
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Jun21 |
Sep21 |
Dec21 |
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Sep22 |
Dec22 |
Mar23 |
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Dec23 |
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Mar26 |
| Beneish M-Score |
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158.68 |
0.00 |
0.00 |
0.00 |
-2.26 |
BOM:512367 vs FWLAF, CDIX: Beneish M-Score Comparison
For the Asset Management subindustry, Sheraton Properties & Finance'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.
Sheraton Properties & Finance Beneish M-Score vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Sheraton Properties & Finance's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sheraton Properties & Finance's Beneish M-Score falls into.
Sheraton Properties & Finance 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 Sheraton Properties & Finance 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 * 1.2084 | + | 0.528 * 0.8844 | + | 0.404 * 0.9362 | + | 0.892 * 1 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * 0.049421 | - | 0.327 * 1.8889 |
| = | -2.26 |
* 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 (Mar26) TTM: | Last Year (Mar25) TTM: |
Total Receivables was ₹295.50 Mil.
Revenue was ₹0.05 Mil.
Gross Profit was ₹-1.10 Mil.
Total Current Assets was ₹312.81 Mil.
Total Assets was ₹1,853.15 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.00 Mil.
Total Current Liabilities was ₹0.06 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 Mil.
Net Income was ₹64.23 Mil.
Gross Profit was ₹0.00 Mil.
Cash Flow from Operations was ₹-27.36 Mil.
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Total Receivables was ₹244.54 Mil.
Revenue was ₹0.05 Mil.
Gross Profit was ₹-0.97 Mil.
Total Current Assets was ₹255.04 Mil.
Total Assets was ₹2,274.81 Mil.
Property, Plant and Equipment(Net PPE) was ₹0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹0.00 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0.23 Mil.
Total Current Liabilities was ₹0.04 Mil.
Long-Term Debt & Capital Lease Obligation was ₹0.00 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) |
| = | (295.5 / 0.046) | / | (244.535 / 0.046) |
| = | 6423.913043 | / | 5315.978261 |
| | = | 1.2084 |
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) |
| = | (-0.972 / 0.046) | / | (-1.099 / 0.046) |
| = | -21.130435 | / | -23.891304 |
| | = | 0.8844 |
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 - (312.809 + 0) / 1853.149) | / | (1 - (255.038 + 0) / 2274.811) |
| = | 0.831201 | / | 0.887886 |
| | = | 0.9362 |
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 |
| = | 0.046 | / | 0.046 |
| | = | 1 |
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 + 0)) | / | (0 / (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) |
| = | (0 / 0.046) | / | (0.234 / 0.046) |
| = | 0 | / | 5.086957 |
| | = | 0 |
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 + 0.063) / 1853.149) | / | ((0 + 0.04) / 2274.811) |
| = | 3.4E-5 | / | 1.8E-5 |
| | = | 1.8889 |
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 |
| = | (64.227 - 0 | - | -27.358) | / | 1853.149 |
| | = | 0.049421 |
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.
Sheraton Properties & Finance has a M-score of -2.26 suggests that the company is unlikely to be a manipulator.
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