GetnetAdquirencia e Servicos para Meios de Pagamento Instituica Beneish M-Score Historical Data
The historical data trend for GetnetAdquirencia e Servicos para Meios de Pagamento Instituica'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.
GetnetAdquirencia e Servicos para Meios de Pagamento Instituica Beneish M-Score Chart
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GetnetAdquirencia e Servicos para Meios de Pagamento Instituica Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Beneish M-Score |
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- |
- |
- |
-2.05 |
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GetnetAdquirencia e Servicos para Meios de Pagamento Instituica Quarterly Data
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Dec18 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
| Beneish M-Score |
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- |
-2.05 |
-2.25 |
-2.36 |
-2.52 |
Competitive Comparison of GetnetAdquirencia e Servicos para Meios de Pagamento Instituica's Beneish M-Score
For the Software - Infrastructure subindustry, GetnetAdquirencia e Servicos para Meios de Pagamento Instituica'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.
GetnetAdquirencia e Servicos para Meios de Pagamento Instituica's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, GetnetAdquirencia e Servicos para Meios de Pagamento Instituica's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where GetnetAdquirencia e Servicos para Meios de Pagamento Instituica's Beneish M-Score falls into.
GetnetAdquirencia e Servicos para Meios de Pagamento Instituica 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 GetnetAdquirencia e Servicos para Meios de Pagamento Instituica 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 * 0.8643 | + | 0.528 * 0.9346 | + | 0.404 * 0.9746 | + | 0.892 * 1.2564 | + | 0.115 * 1.3082 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3597 | + | 4.679 * -0.016257 | - | 0.327 * 0.9996 |
| = | -2.52 |
* 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 (Sep22) TTM: | Last Year (Sep21) TTM: |
Total Receivables was R$52,246 Mil.
Revenue was 832.871 + 873.41 + 816.139 + 829.753 = R$3,352 Mil.
Gross Profit was 378.341 + 399.532 + 305.471 + 305.352 = R$1,389 Mil.
Total Current Assets was R$53,008 Mil.
Total Assets was R$55,295 Mil.
Property, Plant and Equipment(Net PPE) was R$926 Mil.
Depreciation, Depletion and Amortization(DDA) was R$326 Mil.
Selling, General, & Admin. Expense(SGA) was R$535 Mil.
Total Current Liabilities was R$51,577 Mil.
Long-Term Debt & Capital Lease Obligation was R$33 Mil.
Net Income was 124.349 + 176.617 + 92.976 + 199.687 = R$594 Mil.
Non Operating Income was -10.772 + -9.452 + -12.621 + -4.541 = R$-37 Mil.
Cash Flow from Operations was 786.073 + 713.042 + 363.065 + -332.216 = R$1,530 Mil.
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Total Receivables was R$48,114 Mil.
Revenue was 763.518 + 660.103 + 599.767 + 644.605 = R$2,668 Mil.
Gross Profit was 278.101 + 317.749 + 193.081 + 244.081 = R$1,033 Mil.
Total Current Assets was R$49,776 Mil.
Total Assets was R$51,725 Mil.
Property, Plant and Equipment(Net PPE) was R$642 Mil.
Depreciation, Depletion and Amortization(DDA) was R$332 Mil.
Selling, General, & Admin. Expense(SGA) was R$313 Mil.
Total Current Liabilities was R$48,267 Mil.
Long-Term Debt & Capital Lease Obligation was R$28 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) |
| = | (52246.325 / 3352.173) | / | (48114.166 / 2667.993) |
| = | 15.585808 | / | 18.033843 |
| | = | 0.8643 |
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) |
| = | (1033.012 / 2667.993) | / | (1388.696 / 3352.173) |
| = | 0.387187 | / | 0.414267 |
| | = | 0.9346 |
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 - (53007.641 + 925.662) / 55295.41) | / | (1 - (49775.854 + 642.22) / 51725.442) |
| = | 0.024633 | / | 0.025275 |
| | = | 0.9746 |
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 |
| = | 3352.173 | / | 2667.993 |
| | = | 1.2564 |
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)) |
| = | (332.266 / (332.266 + 642.22)) | / | (326.319 / (326.319 + 925.662)) |
| = | 0.340965 | / | 0.260642 |
| | = | 1.3082 |
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) |
| = | (534.979 / 3352.173) | / | (313.149 / 2667.993) |
| = | 0.159592 | / | 0.117372 |
| | = | 1.3597 |
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) |
| = | ((32.657 + 51577.382) / 55295.41) | / | ((28.301 + 48267.003) / 51725.442) |
| = | 0.933351 | / | 0.933686 |
| | = | 0.9996 |
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 |
| = | (593.629 - -37.386 | - | 1529.964) | / | 55295.41 |
| | = | -0.016257 |
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.
GetnetAdquirencia e Servicos para Meios de Pagamento Instituica has a M-score of -2.52 suggests that the company is unlikely to be a manipulator.
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