Eucatex Industria e Comercio Beneish M-Score Historical Data
The historical data trend for Eucatex Industria e Comercio'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.
Eucatex Industria e Comercio Beneish M-Score Chart
|
Eucatex Industria e Comercio Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.51 |
-2.38 |
-2.37 |
-2.31 |
-2.51 |
|
Eucatex Industria e Comercio Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.31 |
-2.33 |
-2.38 |
-2.45 |
-2.51 |
Competitive Comparison of Eucatex Industria e Comercio's Beneish M-Score
For the Building Products & Equipment subindustry, Eucatex Industria e Comercio'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.
Eucatex Industria e Comercio's Beneish M-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, Eucatex Industria e Comercio's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Eucatex Industria e Comercio's Beneish M-Score falls into.
Eucatex Industria e Comercio 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 Eucatex Industria e Comercio 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 * 1.0171 | + | 0.528 * 0.9833 | + | 0.404 * 1.059 | + | 0.892 * 1.0665 | + | 0.115 * 0.8897 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1 | + | 4.679 * -0.024819 | - | 0.327 * 0.9314 |
| = | -2.51 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was R$616 Mil.
Revenue was 663.052 + 684.714 + 651.254 + 678.566 = R$2,678 Mil.
Gross Profit was 221.61 + 229.658 + 212.687 + 214.505 = R$878 Mil.
Total Current Assets was R$1,473 Mil.
Total Assets was R$4,108 Mil.
Property, Plant and Equipment(Net PPE) was R$1,363 Mil.
Depreciation, Depletion and Amortization(DDA) was R$125 Mil.
Selling, General, & Admin. Expense(SGA) was R$474 Mil.
Total Current Liabilities was R$829 Mil.
Long-Term Debt & Capital Lease Obligation was R$679 Mil.
Net Income was 229.342 + 60.541 + 55.464 + 76.86 = R$422 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = R$0 Mil.
Cash Flow from Operations was 290.568 + 31.352 + 65.899 + 136.355 = R$524 Mil.
|
Total Receivables was R$568 Mil.
Revenue was 639.095 + 672.808 + 600.949 + 597.794 = R$2,511 Mil.
Gross Profit was 213.798 + 199.499 + 187.972 + 208.639 = R$810 Mil.
Total Current Assets was R$1,358 Mil.
Total Assets was R$3,683 Mil.
Property, Plant and Equipment(Net PPE) was R$1,248 Mil.
Depreciation, Depletion and Amortization(DDA) was R$101 Mil.
Selling, General, & Admin. Expense(SGA) was R$404 Mil.
Total Current Liabilities was R$895 Mil.
Long-Term Debt & Capital Lease Obligation was R$556 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) |
| = | (616.163 / 2677.586) | / | (568.012 / 2510.646) |
| = | 0.230119 | / | 0.226241 |
| | = | 1.0171 |
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) |
| = | (809.908 / 2510.646) | / | (878.46 / 2677.586) |
| = | 0.322589 | / | 0.328079 |
| | = | 0.9833 |
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 - (1473.075 + 1363.156) / 4108.415) | / | (1 - (1358.091 + 1248.206) / 3683.261) |
| = | 0.309653 | / | 0.292394 |
| | = | 1.059 |
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 |
| = | 2677.586 | / | 2510.646 |
| | = | 1.0665 |
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)) |
| = | (100.519 / (100.519 + 1248.206)) | / | (124.623 / (124.623 + 1363.156)) |
| = | 0.074529 | / | 0.083764 |
| | = | 0.8897 |
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) |
| = | (474.168 / 2677.586) | / | (404.178 / 2510.646) |
| = | 0.177088 | / | 0.160986 |
| | = | 1.1 |
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) |
| = | ((679.009 + 828.914) / 4108.415) | / | ((555.989 + 895.467) / 3683.261) |
| = | 0.367033 | / | 0.394068 |
| | = | 0.9314 |
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 |
| = | (422.207 - 0 | - | 524.174) | / | 4108.415 |
| | = | -0.024819 |
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.
Eucatex Industria e Comercio has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BSP:EUCA4 has been successfully added to your