Hubtown Beneish M-Score Historical Data
The historical data trend for Hubtown'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.
Hubtown Beneish M-Score Chart
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Hubtown Annual Data
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Mar15 |
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Mar20 |
Mar21 |
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Mar24 |
| Beneish M-Score |
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-2.94 |
-1.39 |
-2.89 |
-2.04 |
-3.00 |
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Hubtown Quarterly Data
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Dec19 |
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Sep24 |
| Beneish M-Score |
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-3.00 |
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Competitive Comparison of Hubtown's Beneish M-Score
For the Real Estate - Development subindustry, Hubtown'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.
Hubtown's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Hubtown's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hubtown's Beneish M-Score falls into.
Hubtown 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 Hubtown 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 * 1.3302 | + | 0.528 * 1.201 | + | 0.404 * 0.5787 | + | 0.892 * 0.723 | + | 0.115 * 1.0431 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.5419 | + | 4.679 * -0.050275 | - | 0.327 * 1.044 |
| = | -3.00 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ₹6,302 Mil.
Revenue was ₹2,110 Mil.
Gross Profit was ₹916 Mil.
Total Current Assets was ₹39,850 Mil.
Total Assets was ₹49,099 Mil.
Property, Plant and Equipment(Net PPE) was ₹383 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹30 Mil.
Selling, General, & Admin. Expense(SGA) was ₹292 Mil.
Total Current Liabilities was ₹31,877 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,546 Mil.
Net Income was ₹-862 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹1,607 Mil.
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Total Receivables was ₹6,552 Mil.
Revenue was ₹2,918 Mil.
Gross Profit was ₹1,522 Mil.
Total Current Assets was ₹30,599 Mil.
Total Assets was ₹45,042 Mil.
Property, Plant and Equipment(Net PPE) was ₹387 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹32 Mil.
Selling, General, & Admin. Expense(SGA) was ₹159 Mil.
Total Current Liabilities was ₹30,805 Mil.
Long-Term Debt & Capital Lease Obligation was ₹320 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) |
| = | (6301.639 / 2109.92) | / | (6551.738 / 2918.089) |
| = | 2.986672 | / | 2.245215 |
| | = | 1.3302 |
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) |
| = | (1521.603 / 2918.089) | / | (916.036 / 2109.92) |
| = | 0.521438 | / | 0.434157 |
| | = | 1.201 |
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 - (39849.65 + 382.986) / 49098.688) | / | (1 - (30598.773 + 387.131) / 45041.866) |
| = | 0.180576 | / | 0.312064 |
| | = | 0.5787 |
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 |
| = | 2109.92 | / | 2918.089 |
| | = | 0.723 |
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)) |
| = | (31.862 / (31.862 + 387.131)) | / | (30.117 / (30.117 + 382.986)) |
| = | 0.076044 | / | 0.072904 |
| | = | 1.0431 |
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) |
| = | (292.062 / 2109.92) | / | (158.909 / 2918.089) |
| = | 0.138423 | / | 0.054457 |
| | = | 2.5419 |
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) |
| = | ((3546.427 + 31876.878) / 49098.688) | / | ((320.181 + 30805.408) / 45041.866) |
| = | 0.721472 | / | 0.691037 |
| | = | 1.044 |
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 |
| = | (-861.711 - 0 | - | 1606.749) | / | 49098.688 |
| | = | -0.050275 |
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.
Hubtown has a M-score of -3.00 suggests that the company is unlikely to be a manipulator.
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