Longvie (BUE:LONG) Beneish M-Score : -3.23 (As of Apr. 30, 2024)

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What is Longvie Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -3.23 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Longvie's Beneish M-Score or its related term are showing as below:

BUE:LONG' s Beneish M-Score Range Over the Past 10 Years
Min: -3.23 Med: -2.08 Max: -0.17
Current: -3.23

During the past 13 years, the highest Beneish M-Score of Longvie was -0.17. The lowest was -3.23. And the median was -2.08.

Longvie Beneish M-Score Historical Data

The historical data trend for Longvie'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.

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Longvie Beneish M-Score Chart

Longvie Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.84

-2.23

-1.37

-0.17

-3.23

Longvie 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															-0.17	0.63	-0.79	-1.42	-3.23

Competitive Comparison of Longvie's Beneish M-Score

For the Furnishings, Fixtures & Appliances subindustry, Longvie'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.

Longvie's Beneish M-Score Distribution in the Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Longvie's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Longvie's Beneish M-Score falls into.

Longvie 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 Longvie for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.6119

0.528 * 0.8296

0.404 * 0.4415

0.892 * 1.0056

0.115 * 0.7472

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6861

4.679 * -0.036629

0.327 * 0.8009

-3.23

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was ARS1,631 Mil.
Revenue was 17193.543 + 5849.374 + 5133.316 + 2725.243 = ARS30,901 Mil.
Gross Profit was 3483.906 + 1098.354 + 1030.357 + 709.213 = ARS6,322 Mil.
Total Current Assets was ARS21,155 Mil.
Total Assets was ARS24,168 Mil.
Property, Plant and Equipment(Net PPE) was ARS2,301 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS789 Mil.
Selling, General, & Admin. Expense(SGA) was ARS3,220 Mil.
Total Current Liabilities was ARS5,935 Mil.
Long-Term Debt & Capital Lease Obligation was ARS39 Mil.
Net Income was 1555.56 + 161.93 + 117.016 + 1.66 = ARS1,836 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ARS0 Mil.
Cash Flow from Operations was 1387.337 + 881.098 + 649.51 + -196.55 = ARS2,721 Mil.

Total Receivables was ARS2,650 Mil.
Revenue was 16143.712 + 6246.244 + 4905.244 + 3434.062 = ARS30,729 Mil.
Gross Profit was 2482.723 + 1157.804 + 746.799 + 828.103 = ARS5,215 Mil.
Total Current Assets was ARS17,826 Mil.
Total Assets was ARS21,988 Mil.
Property, Plant and Equipment(Net PPE) was ARS2,696 Mil.
Depreciation, Depletion and Amortization(DDA) was ARS636 Mil.
Selling, General, & Admin. Expense(SGA) was ARS4,667 Mil.
Total Current Liabilities was ARS6,705 Mil.
Long-Term Debt & Capital Lease Obligation was ARS81 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)
	=	(1630.655 / 30901.476)	/	(2649.837 / 30729.262)
	=	0.052769	/	0.086232
	=	0.6119

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)
	=	(5215.429 / 30729.262)	/	(6321.83 / 30901.476)
	=	0.169722	/	0.20458
	=	0.8296

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 - (21154.832 + 2301.342) / 24167.566)	/	(1 - (17826.016 + 2695.807) / 21987.983)
	=	0.029436	/	0.06668
	=	0.4415

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
	=	30901.476	/	30729.262
	=	1.0056

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))
	=	(635.72 / (635.72 + 2695.807))	/	(789.209 / (789.209 + 2301.342))
	=	0.190819	/	0.255362
	=	0.7472

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)
	=	(3219.884 / 30901.476)	/	(4666.773 / 30729.262)
	=	0.104198	/	0.151867
	=	0.6861

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)
	=	((38.93 + 5934.622) / 24167.566)	/	((81.185 + 6704.785) / 21987.983)
	=	0.247172	/	0.308622
	=	0.8009

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
	=	(1836.166 - 0	-	2721.395)	/	24167.566
	=	-0.036629

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.

Longvie has a M-score of -3.23 suggests that the company is unlikely to be a manipulator.

Longvie Beneish M-Score Related Terms

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Longvie (BUE:LONG) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Longvie SA (BUE:LONG) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Laprida 4851, Villa Martelli, Buenos Aires, ARG

Website

http://www.longvie.com.ar

Longvie SA operates in the home furnishing and fixtures industry. The principal business activity of the company is to manufacture and distribute household appliances. The company produces washing machines, dishwashers, stoves, ovens, water heaters, and hot water tanks for the domestic and international markets. It has an operational presence across Canada, United States, Brazil, Poland, Georgia, Colombia, Peru, and other countries.

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