Parkin Co Beneish M-Score Historical Data
The historical data trend for Parkin Co'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.
Parkin Co Beneish M-Score Chart
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Parkin Co Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
4.35 |
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Parkin Co Quarterly Data
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Dec21 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
- |
4.35 |
Competitive Comparison of Parkin Co's Beneish M-Score
For the Infrastructure Operations subindustry, Parkin Co'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.
Parkin Co's Beneish M-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, Parkin Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Parkin Co's Beneish M-Score falls into.
Parkin Co 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 Parkin Co 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 * 1.5577 | + | 0.528 * 1 | + | 0.404 * 17.0827 | + | 0.892 * 1.1751 | + | 0.115 * 0.4822 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1 | + | 4.679 * -0.055463 | - | 0.327 * 1.0516 |
| = | 4.35 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was د.إ349.4 Mil.
Revenue was 260.981 + 235.058 + 204.496 + 215.277 = د.إ915.8 Mil.
Gross Profit was 260.981 + 235.058 + 204.496 + 215.277 = د.إ915.8 Mil.
Total Current Assets was د.إ776.6 Mil.
Total Assets was د.إ2,210.2 Mil.
Property, Plant and Equipment(Net PPE) was د.إ37.2 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ47.9 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ20.3 Mil.
Total Current Liabilities was د.إ586.7 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ1,120.5 Mil.
Net Income was 119.992 + 104.725 + 95.043 + 103.73 = د.إ423.5 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = د.إ0.0 Mil.
Cash Flow from Operations was 186.283 + 216.299 + 158.586 + -15.092 = د.إ546.1 Mil.
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Total Receivables was د.إ190.9 Mil.
Revenue was 204.467 + 192.047 + 184.062 + 198.803 = د.إ779.4 Mil.
Gross Profit was 204.467 + 192.047 + 184.062 + 198.803 = د.إ779.4 Mil.
Total Current Assets was د.إ190.9 Mil.
Total Assets was د.إ252.2 Mil.
Property, Plant and Equipment(Net PPE) was د.إ52.0 Mil.
Depreciation, Depletion and Amortization(DDA) was د.إ19.4 Mil.
Selling, General, & Admin. Expense(SGA) was د.إ0.0 Mil.
Total Current Liabilities was د.إ163.6 Mil.
Long-Term Debt & Capital Lease Obligation was د.إ21.6 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) |
| = | (349.375 / 915.812) | / | (190.878 / 779.379) |
| = | 0.381492 | / | 0.24491 |
| | = | 1.5577 |
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) |
| = | (779.379 / 779.379) | / | (915.812 / 915.812) |
| = | 1 | / | 1 |
| | = | 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 - (776.612 + 37.154) / 2210.232) | / | (1 - (190.927 + 51.975) / 252.231) |
| = | 0.631819 | / | 0.036986 |
| | = | 17.0827 |
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 |
| = | 915.812 | / | 779.379 |
| | = | 1.1751 |
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)) |
| = | (19.375 / (19.375 + 51.975)) | / | (47.899 / (47.899 + 37.154)) |
| = | 0.271549 | / | 0.563166 |
| | = | 0.4822 |
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) |
| = | (20.345 / 915.812) | / | (0 / 779.379) |
| = | 0.022215 | / | 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) |
| = | ((1120.51 + 586.663) / 2210.232) | / | ((21.644 + 163.623) / 252.231) |
| = | 0.772395 | / | 0.734513 |
| | = | 1.0516 |
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 |
| = | (423.49 - 0 | - | 546.076) | / | 2210.232 |
| | = | -0.055463 |
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.
Parkin Co has a M-score of 4.35 signals that the company is likely to be a manipulator.
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