Boafra Sementes Beneish M-Score Historical Data
The historical data trend for Boafra Sementes'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.
Boafra Sementes Beneish M-Score Chart
|
Boafra Sementes Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
- |
0.18 |
-1.78 |
-1.33 |
|
Boafra Sementes Quarterly Data
|
|
Dec18 |
Dec19 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
-1.78 |
-0.89 |
-0.10 |
-2.18 |
-1.33 |
Competitive Comparison of Boafra Sementes's Beneish M-Score
For the Agricultural Inputs subindustry, Boafra Sementes'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.
Boafra Sementes's Beneish M-Score Distribution in the Agriculture Industry
For the Agriculture industry and Basic Materials sector, Boafra Sementes's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Boafra Sementes's Beneish M-Score falls into.
Boafra Sementes 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 Boafra Sementes 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 * 1.5321 | + | 0.528 * 0.8817 | + | 0.404 * 1.3815 | + | 0.892 * 1.1737 | + | 0.115 * 0.4384 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0398 | + | 4.679 * 0.085479 | - | 0.327 * 0.7321 |
| = | -1.33 |
* 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$483 Mil.
Revenue was 835.902 + 977.143 + 133.548 + 115.814 = R$2,062 Mil.
Gross Profit was 140.261 + 125.305 + 51.178 + -25.179 = R$292 Mil.
Total Current Assets was R$1,549 Mil.
Total Assets was R$2,359 Mil.
Property, Plant and Equipment(Net PPE) was R$664 Mil.
Depreciation, Depletion and Amortization(DDA) was R$15 Mil.
Selling, General, & Admin. Expense(SGA) was R$51 Mil.
Total Current Liabilities was R$338 Mil.
Long-Term Debt & Capital Lease Obligation was R$560 Mil.
Net Income was 201.775 + 101.238 + 27.834 + -13.577 = R$317 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = R$0 Mil.
Cash Flow from Operations was -1.877 + 431.184 + -249.191 + -64.45 = R$116 Mil.
|
Total Receivables was R$269 Mil.
Revenue was 684.273 + 873.077 + 125.316 + 74.506 = R$1,757 Mil.
Gross Profit was 125.438 + 92.584 + 11.281 + -10.281 = R$219 Mil.
Total Current Assets was R$938 Mil.
Total Assets was R$1,449 Mil.
Property, Plant and Equipment(Net PPE) was R$447 Mil.
Depreciation, Depletion and Amortization(DDA) was R$5 Mil.
Selling, General, & Admin. Expense(SGA) was R$42 Mil.
Total Current Liabilities was R$292 Mil.
Long-Term Debt & Capital Lease Obligation was R$462 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) |
| = | (483.448 / 2062.407) | / | (268.842 / 1757.172) |
| = | 0.23441 | / | 0.152997 |
| | = | 1.5321 |
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) |
| = | (219.022 / 1757.172) | / | (291.565 / 2062.407) |
| = | 0.124645 | / | 0.141371 |
| | = | 0.8817 |
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 - (1549.353 + 663.519) / 2358.531) | / | (1 - (937.849 + 446.829) / 1449.473) |
| = | 0.061758 | / | 0.044702 |
| | = | 1.3815 |
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 |
| = | 2062.407 | / | 1757.172 |
| | = | 1.1737 |
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)) |
| = | (4.514 / (4.514 + 446.829)) | / | (15.489 / (15.489 + 663.519)) |
| = | 0.010001 | / | 0.022811 |
| | = | 0.4384 |
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) |
| = | (50.687 / 2062.407) | / | (41.534 / 1757.172) |
| = | 0.024577 | / | 0.023637 |
| | = | 1.0398 |
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) |
| = | ((560.257 + 338.089) / 2358.531) | / | ((461.883 + 292.28) / 1449.473) |
| = | 0.380892 | / | 0.520302 |
| | = | 0.7321 |
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 |
| = | (317.27 - 0 | - | 115.666) | / | 2358.531 |
| | = | 0.085479 |
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.
Boafra Sementes has a M-score of -1.33 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BSP:SOJA3 has been successfully added to your