Envoy Textiles Beneish M-Score Historical Data
The historical data trend for Envoy Textiles'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.
Envoy Textiles Beneish M-Score Chart
|
Envoy Textiles Annual Data
|
|
Trend |
Sep15 |
Jun16 |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.03 |
-2.19 |
-2.37 |
-2.82 |
-2.13 |
|
Envoy Textiles Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.01 |
-2.19 |
-2.13 |
-2.03 |
-2.27 |
Competitive Comparison of Envoy Textiles's Beneish M-Score
For the Textile Manufacturing subindustry, Envoy Textiles'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.
Envoy Textiles's Beneish M-Score Distribution in the Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Envoy Textiles's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Envoy Textiles's Beneish M-Score falls into.
Envoy Textiles 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 Envoy Textiles 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 * 1.0515 | + | 0.528 * 0.7087 | + | 0.404 * 0.86 | + | 0.892 * 1.3225 | + | 0.115 * 1.1351 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9618 | + | 4.679 * 0.010198 | - | 0.327 * 0.9549 |
| = | -2.27 |
* 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 BDT6,273 Mil.
Revenue was 4586.238 + 4399.487 + 3571.659 + 3836.816 = BDT16,394 Mil.
Gross Profit was 826.802 + 781.966 + 760.436 + 668.209 = BDT3,037 Mil.
Total Current Assets was BDT12,029 Mil.
Total Assets was BDT24,231 Mil.
Property, Plant and Equipment(Net PPE) was BDT12,160 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT702 Mil.
Selling, General, & Admin. Expense(SGA) was BDT236 Mil.
Total Current Liabilities was BDT9,828 Mil.
Long-Term Debt & Capital Lease Obligation was BDT4,456 Mil.
Net Income was 347.964 + 253.339 + 160.581 + 197.111 = BDT959 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = BDT0 Mil.
Cash Flow from Operations was 64.14 + 80.142 + 106.95 + 460.656 = BDT712 Mil.
|
Total Receivables was BDT4,511 Mil.
Revenue was 3763.105 + 3098.347 + 2956.186 + 2578.293 = BDT12,396 Mil.
Gross Profit was 487.375 + 402.498 + 270.274 + 467.428 = BDT1,628 Mil.
Total Current Assets was BDT9,923 Mil.
Total Assets was BDT20,645 Mil.
Property, Plant and Equipment(Net PPE) was BDT10,680 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT705 Mil.
Selling, General, & Admin. Expense(SGA) was BDT185 Mil.
Total Current Liabilities was BDT7,132 Mil.
Long-Term Debt & Capital Lease Obligation was BDT5,612 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) |
| = | (6273.422 / 16394.2) | / | (4511.022 / 12395.931) |
| = | 0.382661 | / | 0.363912 |
| | = | 1.0515 |
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) |
| = | (1627.575 / 12395.931) | / | (3037.413 / 16394.2) |
| = | 0.131299 | / | 0.185274 |
| | = | 0.7087 |
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 - (12028.506 + 12159.932) / 24230.85) | / | (1 - (9923.172 + 10680.3) / 20645.487) |
| = | 0.00175 | / | 0.002035 |
| | = | 0.86 |
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 |
| = | 16394.2 | / | 12395.931 |
| | = | 1.3225 |
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)) |
| = | (705.101 / (705.101 + 10680.3)) | / | (701.692 / (701.692 + 12159.932)) |
| = | 0.06193 | / | 0.054557 |
| | = | 1.1351 |
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) |
| = | (235.602 / 16394.2) | / | (185.224 / 12395.931) |
| = | 0.014371 | / | 0.014942 |
| | = | 0.9618 |
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) |
| = | ((4455.624 + 9827.812) / 24230.85) | / | ((5612.433 + 7132.159) / 20645.487) |
| = | 0.589473 | / | 0.617306 |
| | = | 0.9549 |
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 |
| = | (958.995 - 0 | - | 711.888) | / | 24230.85 |
| | = | 0.010198 |
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.
Envoy Textiles has a M-score of -2.27 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
DHA:ENVOYTEX has been successfully added to your