El Puerto de LiverpoolB de CV (El Puerto de LiverpoolB de CV) Beneish M-Score : -2.38 (As of Jun. 22, 2024)

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What is El Puerto de LiverpoolB de CV Beneish M-Score?

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.

Good Sign:

Beneish M-Score -2.38 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for El Puerto de LiverpoolB de CV's Beneish M-Score or its related term are showing as below:

ELPQF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.11 Med: -2.59 Max: -2
Current: -2.38

During the past 13 years, the highest Beneish M-Score of El Puerto de LiverpoolB de CV was -2.00. The lowest was -3.11. And the median was -2.59.

El Puerto de LiverpoolB de CV Beneish M-Score Historical Data

The historical data trend for El Puerto de LiverpoolB de CV'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.

* Premium members only.

El Puerto de LiverpoolB de CV Beneish M-Score Chart

El Puerto de LiverpoolB de CV Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.72

-2.81

-2.64

-2.32

-2.36

El Puerto de LiverpoolB de CV Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial															-2.37	-2.23	-2.32	-2.36	-2.38

Competitive Comparison of El Puerto de LiverpoolB de CV's Beneish M-Score

For the Department Stores subindustry, El Puerto de LiverpoolB de CV'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.

El Puerto de LiverpoolB de CV's Beneish M-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, El Puerto de LiverpoolB de CV's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where El Puerto de LiverpoolB de CV's Beneish M-Score falls into.

El Puerto de LiverpoolB de CV 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 El Puerto de LiverpoolB de CV 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 * 1.0683

0.528 * 0.9636

0.404 * 0.9841

0.892 * 1.2517

0.115 * 0.9862

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.041

4.679 * -0.015636

0.327 * 0.9781

-2.29

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was $2,448 Mil.
Revenue was 2483.714 + 4003.352 + 2394.052 + 2775.747 = $11,657 Mil.
Gross Profit was 1042.841 + 1563.389 + 996.67 + 1098.102 = $4,701 Mil.
Total Current Assets was $6,173 Mil.
Total Assets was $15,291 Mil.
Property, Plant and Equipment(Net PPE) was $4,362 Mil.
Depreciation, Depletion and Amortization(DDA) was $320 Mil.
Selling, General, & Admin. Expense(SGA) was $4,294 Mil.
Total Current Liabilities was $3,678 Mil.
Long-Term Debt & Capital Lease Obligation was $2,026 Mil.
Net Income was 172.33 + 511.061 + 227.732 + 274.266 = $1,185 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was -167.78 + 1267.087 + 149.069 + 176.106 = $1,424 Mil.

Total Receivables was $1,831 Mil.
Revenue was 2084.3 + 3221.3 + 1891.82 + 2115.531 = $9,313 Mil.
Gross Profit was 844.207 + 1195.98 + 749.533 + 829.315 = $3,619 Mil.
Total Current Assets was $4,854 Mil.
Total Assets was $12,550 Mil.
Property, Plant and Equipment(Net PPE) was $3,729 Mil.
Depreciation, Depletion and Amortization(DDA) was $269 Mil.
Selling, General, & Admin. Expense(SGA) was $3,295 Mil.
Total Current Liabilities was $2,609 Mil.
Long-Term Debt & Capital Lease Obligation was $2,177 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)
	=	(2447.912 / 11656.865)	/	(1830.591 / 9312.951)
	=	0.209997	/	0.196564
	=	1.0683

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)
	=	(3619.035 / 9312.951)	/	(4701.002 / 11656.865)
	=	0.388602	/	0.403282
	=	0.9636

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 - (6172.557 + 4362.375) / 15291.294)	/	(1 - (4854.489 + 3728.628) / 12549.934)
	=	0.31105	/	0.316083
	=	0.9841

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
	=	11656.865	/	9312.951
	=	1.2517

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))
	=	(269.065 / (269.065 + 3728.628))	/	(319.528 / (319.528 + 4362.375))
	=	0.067305	/	0.068247
	=	0.9862

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)
	=	(4293.952 / 11656.865)	/	(3295.377 / 9312.951)
	=	0.368363	/	0.353849
	=	1.041

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)
	=	((2025.809 + 3678.123) / 15291.294)	/	((2177.432 + 2608.848) / 12549.934)
	=	0.373018	/	0.381379
	=	0.9781

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
	=	(1185.389 - 0	-	1424.482)	/	15291.294
	=	-0.015636

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.

El Puerto de LiverpoolB de CV has a M-score of -2.29 suggests that the company is unlikely to be a manipulator.

El Puerto de LiverpoolB de CV Beneish M-Score Related Terms

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El Puerto de LiverpoolB de CV (El Puerto de LiverpoolB de CV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » El Puerto de Liverpool SAB de CV (GREY:ELPQF) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

LIVEPOLC-1:Mexico LIVEPOL1:Mexico

Address

Mario Pani 200, Col. Santa Fe, Cuajimalpa, Mexico, DF, MEX, 05348

Website

https://www.liverpool.com.mx

El Puerto de Liverpool SAB de CV is a retail company that operates throughout Mexico in three business segments: Liverpool, which offers clothing, home goods, furniture, and cosmetics in Liverpool stores as well as boutique locations; Suburbia, which includes Suburbia stores selling consumer products of its own brands and real estate, which leases commercial space to tenants of its Galeria shopping malls. The Liverpool segment brings in the majority of revenue, with the largest portion coming from Mexico City and the surrounding areas.