Logista Integral Beneish M-Score Historical Data
The historical data trend for Logista Integral'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.
Logista Integral Beneish M-Score Chart
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Logista Integral Annual Data
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Trend |
Sep14 |
Sep15 |
Sep16 |
Sep17 |
Sep18 |
Sep19 |
Sep20 |
Sep21 |
Sep22 |
Sep23 |
| Beneish M-Score |
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-2.54 |
-2.25 |
-2.45 |
-2.34 |
-2.44 |
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Logista Integral Quarterly Data
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Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
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-2.77 |
-2.44 |
-2.36 |
-1.68 |
-1.80 |
Competitive Comparison of Logista Integral's Beneish M-Score
For the Integrated Freight & Logistics subindustry, Logista Integral'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.
Logista Integral's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Logista Integral's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Logista Integral's Beneish M-Score falls into.
Logista Integral 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 Logista Integral 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 * 0.9463 | + | 0.528 * 0.9509 | + | 0.404 * 1.0552 | + | 0.892 * 1.0456 | + | 0.115 * 0.8946 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * -1.9692 | + | 4.679 * 0.039304 | - | 0.327 * 0.982 |
| = | -1.80 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was €2,154 Mil.
Revenue was 3273.825 + 3040.275 + 3166.2 + 3277.736 = €12,758 Mil.
Gross Profit was 451.114 + 441.286 + 425.9 + 423.827 = €1,742 Mil.
Total Current Assets was €6,145 Mil.
Total Assets was €8,031 Mil.
Property, Plant and Equipment(Net PPE) was €487 Mil.
Depreciation, Depletion and Amortization(DDA) was €156 Mil.
Selling, General, & Admin. Expense(SGA) was €-776 Mil.
Total Current Liabilities was €6,845 Mil.
Long-Term Debt & Capital Lease Obligation was €0 Mil.
Net Income was 77.286 + 86.914 + 72.6 + 78.854 = €316 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = €0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = €0 Mil.
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Total Receivables was €2,177 Mil.
Revenue was 3214.437 + 2949.363 + 2986 + 3052.146 = €12,202 Mil.
Gross Profit was 426.513 + 435.987 + 397.8 + 324.042 = €1,584 Mil.
Total Current Assets was €6,485 Mil.
Total Assets was €8,320 Mil.
Property, Plant and Equipment(Net PPE) was €462 Mil.
Depreciation, Depletion and Amortization(DDA) was €128 Mil.
Selling, General, & Admin. Expense(SGA) was €377 Mil.
Total Current Liabilities was €7,221 Mil.
Long-Term Debt & Capital Lease Obligation was €0 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) |
| = | (2154 / 12758.036) | / | (2177 / 12201.946) |
| = | 0.168835 | / | 0.178414 |
| | = | 0.9463 |
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) |
| = | (1584.342 / 12201.946) | / | (1742.127 / 12758.036) |
| = | 0.129843 | / | 0.136551 |
| | = | 0.9509 |
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 - (6145 + 487) / 8031) | / | (1 - (6484.8 + 461.5) / 8319.8) |
| = | 0.1742 | / | 0.165088 |
| | = | 1.0552 |
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 |
| = | 12758.036 | / | 12201.946 |
| | = | 1.0456 |
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)) |
| = | (127.959 / (127.959 + 461.5)) | / | (156.045 / (156.045 + 487)) |
| = | 0.217079 | / | 0.242666 |
| | = | 0.8946 |
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) |
| = | (-776.265 / 12758.036) | / | (377.019 / 12201.946) |
| = | -0.060845 | / | 0.030898 |
| | = | -1.9692 |
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 + 6845) / 8031) | / | ((0 + 7220.9) / 8319.8) |
| = | 0.852322 | / | 0.867917 |
| | = | 0.982 |
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 |
| = | (315.654 - 0 | - | 0) | / | 8031 |
| | = | 0.039304 |
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.
Logista Integral has a M-score of -1.80 suggests that the company is unlikely to be a manipulator.
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