Alexandria Containers and Goods (CAI:ALCN) Beneish M-Score : -1.37 (As of Apr. 29, 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 -1.37 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: -1.84 Max: 7.1
Current: -1.37

During the past 11 years, the highest Beneish M-Score of Alexandria Containers and Goods was 7.10. The lowest was -3.50. And the median was -1.84.

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

Jun12

Jun13

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Beneish M-Score

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-0.61

-3.19

2.55

-1.93

-2.37

Alexandria Containers and Goods Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Sep22	Dec22	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-1.13	-0.61	-	-1.84	-1.37

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 * 1

0.528 * 1.3243

0.404 * 0.0758

0.892 * 1.8046

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * 0.112518

0.327 * 0.7851

-1.37

This Year (Dec23) TTM:

Last Year (Mar22) TTM:

Total Receivables was E£0 Mil.
Revenue was 1428.203 + 1102.928 + 1139.919 + 851.457 = E£4,523 Mil.
Gross Profit was 1053.42 + 845.4 + 883.604 + 632.597 = E£3,415 Mil.
Total Current Assets was E£8,450 Mil.
Total Assets was E£10,382 Mil.
Property, Plant and Equipment(Net PPE) was E£1,590 Mil.
Depreciation, Depletion and Amortization(DDA) was E£18 Mil.
Selling, General, & Admin. Expense(SGA) was E£27 Mil.
Total Current Liabilities was E£388 Mil.
Long-Term Debt & Capital Lease Obligation was E£0 Mil.
Net Income was 1214.44 + 979.973 + 1130.719 + 669.201 = E£3,994 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = E£0 Mil.
Cash Flow from Operations was 633.96 + 809.174 + 797.703 + 585.385 = E£2,826 Mil.

Total Receivables was E£0 Mil.
Revenue was 713.286 + 581.463 + 537.706 + 673.63 = E£2,506 Mil.
Gross Profit was 713.286 + 581.463 + 537.706 + 673.63 = E£2,506 Mil.
Total Current Assets was E£2,716 Mil.
Total Assets was E£4,800 Mil.
Property, Plant and Equipment(Net PPE) was E£0 Mil.
Depreciation, Depletion and Amortization(DDA) was E£0 Mil.
Selling, General, & Admin. Expense(SGA) was E£0 Mil.
Total Current Liabilities was E£228 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)
	=	(0 / 4522.507)	/	(0 / 2506.085)
	=	0	/	0
	=	1

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)
	=	(2506.085 / 2506.085)	/	(3415.021 / 4522.507)
	=	1	/	0.755117
	=	1.3243

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 - (8449.626 + 1590.313) / 10381.534)	/	(1 - (2715.87 + 0) / 4800.103)
	=	0.032904	/	0.434206
	=	0.0758

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
	=	4522.507	/	2506.085
	=	1.8046

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))
	=	(0 / (0 + 0))	/	(17.641 / (17.641 + 1590.313))
	=		/	0.010971
	=	1

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)
	=	(27.005 / 4522.507)	/	(0 / 2506.085)
	=	0.005971	/	0
	=	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)
	=	((0 + 387.695) / 10381.534)	/	((0 + 228.331) / 4800.103)
	=	0.037345	/	0.047568
	=	0.7851

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
	=	(3994.333 - 0	-	2826.222)	/	10381.534
	=	0.112518

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 -1.37 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 (CAI:ALCN) 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 49/54 Port of Alexandria, Alexandria, EGY

Website

http://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. It operates two main stations: Alexandria station in Alexandria port and El Dekheila station in Dekheila port.

Alexandria Containers and Goods (CAI:ALCN) Headlines

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