Alexandria Containers and Goods (CAI:ALCN) Beneish M-Score : -0.92 (As of Dec. 14, 2024)

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What is Alexandria Containers and Goods 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.

Warning Sign:

Beneish M-Score -0.92 higher than -1.78, which implies that the company might have manipulated its financial results.

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

CAI:ALCN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.5 Med: -1.53 Max: 7.1
Current: -0.92

During the past 13 years, the highest Beneish M-Score of Alexandria Containers and Goods was 7.10. The lowest was -3.50. And the median was -1.53.

Alexandria Containers and Goods Beneish M-Score Historical Data

The historical data trend for Alexandria Containers and Goods'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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Alexandria Containers and Goods Beneish M-Score Chart

Alexandria Containers and Goods Annual Data

Trend

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Beneish M-Score

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-1.93

-2.37

-1.27

-1.71

-0.84

Alexandria Containers and Goods Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-0.84	-0.92

Competitive Comparison of Alexandria Containers and Goods's Beneish M-Score

For the Marine Shipping subindustry, Alexandria Containers and Goods'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.

Alexandria Containers and Goods's Beneish M-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Alexandria Containers and Goods's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Alexandria Containers and Goods's Beneish M-Score falls into.

Alexandria Containers and Goods 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 Alexandria Containers and Goods 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 * 0.725

0.528 * 0.9948

0.404 * 2.4644

0.892 * 1.4377

0.115 * 4.0064

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.8175

4.679 * 0.170582

0.327 * 0.9838

-0.92

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was E£678 Mil.
Revenue was 2013.779 + 2398.608 + 1652.952 + 1428.203 = E£7,494 Mil.
Gross Profit was 1578.874 + 2010.789 + 1267.928 + 1053.42 = E£5,911 Mil.
Total Current Assets was E£10,537 Mil.
Total Assets was E£14,778 Mil.
Property, Plant and Equipment(Net PPE) was E£1,535 Mil.
Depreciation, Depletion and Amortization(DDA) was E£11 Mil.
Selling, General, & Admin. Expense(SGA) was E£118 Mil.
Total Current Liabilities was E£536 Mil.
Long-Term Debt & Capital Lease Obligation was E£0 Mil.
Net Income was 1910.838 + 2198.279 + 1890.553 + 1214.439 = E£7,214 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = E£0 Mil.
Cash Flow from Operations was 1220.528 + 1671.405 + 1098.306 + 702.946 = E£4,693 Mil.

Total Receivables was E£650 Mil.
Revenue was 1102.928 + 1562.746 + 1406.696 + 1139.919 = E£5,212 Mil.
Gross Profit was 845.4 + 1220.976 + 1140.263 + 883.604 = E£4,090 Mil.
Total Current Assets was E£6,814 Mil.
Total Assets was E£9,136 Mil.
Property, Plant and Equipment(Net PPE) was E£1,643 Mil.
Depreciation, Depletion and Amortization(DDA) was E£48 Mil.
Selling, General, & Admin. Expense(SGA) was E£29 Mil.
Total Current Liabilities was E£337 Mil.
Long-Term Debt & Capital Lease Obligation was E£0 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)
	=	(677.596 / 7493.542)	/	(650.128 / 5212.289)
	=	0.090424	/	0.12473
	=	0.725

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)
	=	(4090.243 / 5212.289)	/	(5911.011 / 7493.542)
	=	0.784731	/	0.788814
	=	0.9948

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 - (10537.334 + 1535.314) / 14778.394)	/	(1 - (6813.728 + 1643.417) / 9135.875)
	=	0.183088	/	0.074293
	=	2.4644

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
	=	7493.542	/	5212.289
	=	1.4377

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))
	=	(48.465 / (48.465 + 1643.417))	/	(11.056 / (11.056 + 1535.314))
	=	0.028646	/	0.00715
	=	4.0064

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)
	=	(117.537 / 7493.542)	/	(29.016 / 5212.289)
	=	0.015685	/	0.005567
	=	2.8175

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)
	=	((0 + 535.92) / 14778.394)	/	((0 + 336.755) / 9135.875)
	=	0.036264	/	0.036861
	=	0.9838

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
	=	(7214.109 - 0	-	4693.185)	/	14778.394
	=	0.170582

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.

Alexandria Containers and Goods has a M-score of -0.92 signals that the company is likely to be a manipulator.

Alexandria Containers and Goods Beneish M-Score Related Terms

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Alexandria Containers and Goods Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Alexandria Containers and Goods (CAI:ALCN) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Quay 23 Port of Alexandria, Alexandria, EGY

Website

https://www.alexcont.com

Alexandria Containers and Goods is a cargo-handling company. It specializes in all activities related to container handling. The company offers a range of maritime services, including stevedoring and storage. Its operating segments include the Alexandria container terminal in Alexandria Port, and the Al Dakhalia container terminal in Dekheila Port.

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