Best Holdings Beneish M-Score Historical Data
The historical data trend for Best Holdings'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.
Best Holdings Beneish M-Score Chart
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Best Holdings Annual Data
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Best Holdings Quarterly Data
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-2.89 |
DHA:BESTHLDNG vs MAR, HLT, HTHT: Beneish M-Score Comparison
For the Lodging subindustry, Best Holdings'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.
Best Holdings Beneish M-Score vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Best Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Best Holdings's Beneish M-Score falls into.
Best Holdings 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 Best Holdings 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 * 1.4049 | + | 0.528 * 0.999 | + | 0.404 * 0.063 | + | 0.892 * 0.7002 | + | 0.115 * 1.0565 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1236 | + | 4.679 * -0.012689 | - | 0.327 * 1.0865 |
| = | -2.86 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was BDT896 Mil.
Revenue was 708.818 + 630.913 + 408.53 + 734.176 = BDT2,482 Mil.
Gross Profit was 563.039 + 493.289 + 301.889 + 567.451 = BDT1,926 Mil.
Total Current Assets was BDT9,233 Mil.
Total Assets was BDT80,576 Mil.
Property, Plant and Equipment(Net PPE) was BDT71,322 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT513 Mil.
Selling, General, & Admin. Expense(SGA) was BDT348 Mil.
Total Current Liabilities was BDT2,650 Mil.
Long-Term Debt & Capital Lease Obligation was BDT16,374 Mil.
Net Income was 147.127 + 109.771 + 9.467 + 360.606 = BDT627 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = BDT0 Mil.
Cash Flow from Operations was 599.022 + 354.239 + 232.244 + 463.874 = BDT1,649 Mil.
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Total Receivables was BDT910 Mil.
Revenue was 997.625 + 893.383 + 785.634 + 868.821 = BDT3,545 Mil.
Gross Profit was 743.541 + 705.891 + 609.234 + 688.747 = BDT2,747 Mil.
Total Current Assets was BDT9,621 Mil.
Total Assets was BDT78,743 Mil.
Property, Plant and Equipment(Net PPE) was BDT68,803 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT523 Mil.
Selling, General, & Admin. Expense(SGA) was BDT442 Mil.
Total Current Liabilities was BDT1,857 Mil.
Long-Term Debt & Capital Lease Obligation was BDT15,254 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) |
| = | (895.586 / 2482.437) | / | (910.43 / 3545.463) |
| = | 0.360769 | / | 0.256787 |
| | = | 1.4049 |
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) |
| = | (2747.413 / 3545.463) | / | (1925.668 / 2482.437) |
| = | 0.77491 | / | 0.775717 |
| | = | 0.999 |
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 - (9233.205 + 71322.285) / 80576.037) | / | (1 - (9620.919 + 68803.266) / 78742.809) |
| = | 0.000255 | / | 0.004046 |
| | = | 0.063 |
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 |
| = | 2482.437 | / | 3545.463 |
| | = | 0.7002 |
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)) |
| = | (522.554 / (522.554 + 68803.266)) | / | (512.546 / (512.546 + 71322.285)) |
| = | 0.007538 | / | 0.007135 |
| | = | 1.0565 |
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) |
| = | (347.802 / 2482.437) | / | (442.081 / 3545.463) |
| = | 0.140105 | / | 0.124689 |
| | = | 1.1236 |
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) |
| = | ((16374.339 + 2649.899) / 80576.037) | / | ((15254.163 + 1857.209) / 78742.809) |
| = | 0.236103 | / | 0.217307 |
| | = | 1.0865 |
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 |
| = | (626.971 - 0 | - | 1649.379) | / | 80576.037 |
| | = | -0.012689 |
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.
Best Holdings has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.
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