Credit Suisse Asset Mgmtome Fund (Credit Suisse Asset Mgmtome Fund) Beneish M-Score : 0.00 (As of Apr. 27, 2024)

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What is Credit Suisse Asset Mgmtome Fund Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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.

The historical rank and industry rank for Credit Suisse Asset Mgmtome Fund's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Credit Suisse Asset Mgmtome Fund was 0.84. The lowest was -2.70. And the median was -1.32.

Credit Suisse Asset Mgmtome Fund 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 Credit Suisse Asset Mgmtome Fund 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

* 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 $4.37 Mil.
Revenue was $26.60 Mil.
Gross Profit was $26.60 Mil.
Total Current Assets was $4.57 Mil.
Total Assets was $216.71 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.55 Mil.
Total Current Liabilities was $7.80 Mil.
Long-Term Debt & Capital Lease Obligation was $52.50 Mil.
Net Income was $26.00 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $21.95 Mil.

Total Receivables was $3.54 Mil.
Revenue was $-21.76 Mil.
Gross Profit was $-21.76 Mil.
Total Current Assets was $3.71 Mil.
Total Assets was $215.46 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.58 Mil.
Total Current Liabilities was $10.64 Mil.
Long-Term Debt & Capital Lease Obligation was $60.50 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)
	=	(4.374 / 26.604)	/	(3.544 / -21.764)
	=	0.164411	/
	=

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)
	=	(-21.764 / -21.764)	/	(26.604 / 26.604)
	=		/	1
	=

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 - (4.569 + 0) / 216.705)	/	(1 - (3.707 + 0) / 215.462)
	=	0.978916	/	0.982795
	=

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
	=	26.604	/	-21.764
	=

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))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(0.551 / 26.604)	/	(0.584 / -21.764)
	=	0.020711	/
	=

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)
	=	((52.5 + 7.802) / 216.705)	/	((60.5 + 10.64) / 215.462)
	=	0.278268	/	0.330174
	=

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
	=	(26.003 - 0	-	21.945)	/	216.705
	=	0.018726

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.

Credit Suisse Asset Mgmtome Fund Beneish M-Score Related Terms

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Credit Suisse Asset Mgmtome Fund (Credit Suisse Asset Mgmtome Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Credit Suisse Asset Mgmt Income Fund Inc (AMEX:CIK) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Eleven Madison Avenue, New York, NY, USA, 10010

Website

http://www.credit-suisse.com

Credit Suisse Asset Mgmt Income Fund Inc is a closed-end management investment company. The investment objective of the fund is to provide current income consistent with the preservation of capital. Credit Suisse serves as an investment adviser for the fund. Asset Management offers a wide range of investment products and functions across asset classes and investment styles. The division manages global and regional portfolios, mutual funds, and other investment vehicles for governments, institutions, corporations, and individuals.

Executives

Laura A Defelice	director	ONE MADISON AVENUE, NEW YORK NY 10010
Brandi Sinkovich	officer: Chief Compliance Officer	ELEVEN MADISON AVENUE, NEW YORK NY 10010
Samantha Kappagoda	director	C/O CREDIT SUISSE ASSET MANAGEMENT, LLC, ELEVEN MADISON AVENUE, NEW YORK NY 10010
Rachael Inez Hoffman	officer: Chief Compliance Officer	11 MADISON AVENUE, NEW YORK NY 10010
Antonio Muinos	officer: Chief Compliance Officer	ELEVEN MADISON AVENUE, 9TH AVENUE, NEW YORK NY 10010
Jason Patrick Gossett	officer: Chief Compliance Officer	RALEIGH LT BUILDING, MORRISVILLE NC 27560
Thomas J. Flannery	officer: Chief Investment Officer	ELEVEN MADISON AVENUE, NEW YORK NY 10010
Saba Capital Management, L.p.	10 percent owner	405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Omar Tariq	officer: CFO & Treasurer	ELEVEN MADISON AVENUE, NEW YORK NY 10010
Csam Americas Holding Corp.	other: Affiliate of InvestmentAdviser	ONE MADISON AVENUE, NEW YORK NY 10010
Jeffrey E Garten	director	AETNA INC., 151 FARMINGTON AVENUE, HARTFORD CT 06156
Mahendra R Gupta	director	WASHINGTON UNIVERSITY CAMPUS BOX 1133, ONE BROOKINGS DRIVE, ST. LOUIS MO 63130-4899
Terry Fires Bovarnick	director	C/O CREDIT SUISSE ASSET MANAGMENT, LLC, ELEVEN MADISON AVENUE, NEW YORK CITY NY 10010
Steven N Rappaport	director	C/O ABERDEEN ASSET MANAGEMENT INC., 1735 MARKET STREET - 32ND FLOOR, PHILADELPHIA PA 19103
James Cattano	director	C/O ABERDEEN ASSET MANAGEMENT INC., 1735 MARKET STREET - 32ND FLOOR, PHILADELPHIA PA 19103