Awfis Space Solutions Beneish M-Score Historical Data
The historical data trend for Awfis Space Solutions'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.
Awfis Space Solutions Beneish M-Score Chart
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Awfis Space Solutions Annual Data
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Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
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- |
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-2.93 |
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Awfis Space Solutions Quarterly Data
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Mar21 |
Mar22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Jun24 |
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Dec24 |
| Beneish M-Score |
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Competitive Comparison of Awfis Space Solutions's Beneish M-Score
For the Rental & Leasing Services subindustry, Awfis Space Solutions'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.
Awfis Space Solutions's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Awfis Space Solutions's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Awfis Space Solutions's Beneish M-Score falls into.
Awfis Space Solutions 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 Awfis Space Solutions 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 * 0.6883 | + | 0.528 * 1.0006 | + | 0.404 * 0.94 | + | 0.892 * 2.1213 | + | 0.115 * 1.179 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.74 | + | 4.679 * -0.259858 | - | 0.327 * 0.963 |
| = | -2.93 |
* 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 (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was ₹553 Mil.
Revenue was ₹5,453 Mil.
Gross Profit was ₹4,143 Mil.
Total Current Assets was ₹1,386 Mil.
Total Assets was ₹9,306 Mil.
Property, Plant and Equipment(Net PPE) was ₹6,520 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹1,500 Mil.
Selling, General, & Admin. Expense(SGA) was ₹258 Mil.
Total Current Liabilities was ₹2,805 Mil.
Long-Term Debt & Capital Lease Obligation was ₹3,810 Mil.
Net Income was ₹-466 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹1,952 Mil.
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Total Receivables was ₹379 Mil.
Revenue was ₹2,570 Mil.
Gross Profit was ₹1,954 Mil.
Total Current Assets was ₹1,221 Mil.
Total Assets was ₹5,597 Mil.
Property, Plant and Equipment(Net PPE) was ₹3,480 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹984 Mil.
Selling, General, & Admin. Expense(SGA) was ₹165 Mil.
Total Current Liabilities was ₹2,131 Mil.
Long-Term Debt & Capital Lease Obligation was ₹2,000 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) |
| = | (553.45 / 5452.82) | / | (379.04 / 2570.45) |
| = | 0.101498 | / | 0.147461 |
| | = | 0.6883 |
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) |
| = | (1954.04 / 2570.45) | / | (4142.88 / 5452.82) |
| = | 0.760194 | / | 0.759768 |
| | = | 1.0006 |
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 - (1386.27 + 6520.4) / 9306.05) | / | (1 - (1221.21 + 3480.29) / 5596.88) |
| = | 0.150373 | / | 0.159978 |
| | = | 0.94 |
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 |
| = | 5452.82 | / | 2570.45 |
| | = | 2.1213 |
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)) |
| = | (984.33 / (984.33 + 3480.29)) | / | (1499.79 / (1499.79 + 6520.4)) |
| = | 0.220473 | / | 0.187002 |
| | = | 1.179 |
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) |
| = | (258.22 / 5452.82) | / | (164.5 / 2570.45) |
| = | 0.047355 | / | 0.063997 |
| | = | 0.74 |
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) |
| = | ((3809.59 + 2804.57) / 9306.05) | / | ((2000.07 + 2130.52) / 5596.88) |
| = | 0.710738 | / | 0.738017 |
| | = | 0.963 |
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 |
| = | (-466.37 - 0 | - | 1951.88) | / | 9306.05 |
| | = | -0.259858 |
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.
Awfis Space Solutions has a M-score of -2.93 suggests that the company is unlikely to be a manipulator.
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