Logan Group Co Beneish M-Score Historical Data
The historical data trend for Logan Group 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.
Logan Group Co Beneish M-Score Chart
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Logan Group Co Annual Data
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Dec15 |
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Dec20 |
Dec21 |
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Dec23 |
Dec24 |
| Beneish M-Score |
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-1.96 |
-1.76 |
-3.99 |
-3.01 |
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Logan Group Co Semi-Annual Data
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Jun15 |
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Dec24 |
| Beneish M-Score |
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-3.99 |
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-3.01 |
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Competitive Comparison of Logan Group Co's Beneish M-Score
For the Real Estate - Development subindustry, Logan Group 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.
Logan Group Co's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Logan Group Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Logan Group Co's Beneish M-Score falls into.
Logan Group 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 Logan Group 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 * 0.4882 | + | 0.528 * 1.2018 | + | 0.404 * 0.9908 | + | 0.892 * 1.0748 | + | 0.115 * 1.1087 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.6844 | + | 4.679 * -0.064898 | - | 0.327 * 1.0578 |
| = | -3.04 |
* 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 €3,196 Mil.
Revenue was €6,058 Mil.
Gross Profit was €-579 Mil.
Total Current Assets was €24,722 Mil.
Total Assets was €31,899 Mil.
Property, Plant and Equipment(Net PPE) was €38 Mil.
Depreciation, Depletion and Amortization(DDA) was €7 Mil.
Selling, General, & Admin. Expense(SGA) was €301 Mil.
Total Current Liabilities was €20,984 Mil.
Long-Term Debt & Capital Lease Obligation was €5,741 Mil.
Net Income was €-1,147 Mil.
Gross Profit was €0 Mil.
Cash Flow from Operations was €923 Mil.
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Total Receivables was €6,091 Mil.
Revenue was €5,636 Mil.
Gross Profit was €-648 Mil.
Total Current Assets was €29,146 Mil.
Total Assets was €37,686 Mil.
Property, Plant and Equipment(Net PPE) was €27 Mil.
Depreciation, Depletion and Amortization(DDA) was €5 Mil.
Selling, General, & Admin. Expense(SGA) was €409 Mil.
Total Current Liabilities was €24,511 Mil.
Long-Term Debt & Capital Lease Obligation was €5,336 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) |
| = | (3195.959 / 6057.526) | / | (6090.746 / 5635.897) |
| = | 0.527601 | / | 1.080706 |
| | = | 0.4882 |
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) |
| = | (-647.561 / 5635.897) | / | (-579.136 / 6057.526) |
| = | -0.114899 | / | -0.095606 |
| | = | 1.2018 |
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 - (24721.715 + 38.173) / 31899.155) | / | (1 - (29146.174 + 26.765) / 37686.01) |
| = | 0.223807 | / | 0.225895 |
| | = | 0.9908 |
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 |
| = | 6057.526 | / | 5635.897 |
| | = | 1.0748 |
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)) |
| = | (5.448 / (5.448 + 26.765)) | / | (6.871 / (6.871 + 38.173)) |
| = | 0.169124 | / | 0.15254 |
| | = | 1.1087 |
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) |
| = | (301.177 / 6057.526) | / | (409.427 / 5635.897) |
| = | 0.049719 | / | 0.072646 |
| | = | 0.6844 |
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) |
| = | ((5740.828 + 20983.77) / 31899.155) | / | ((5335.615 + 24510.726) / 37686.01) |
| = | 0.837784 | / | 0.791974 |
| | = | 1.0578 |
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 |
| = | (-1147.443 - 0 | - | 922.757) | / | 31899.155 |
| | = | -0.064898 |
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.
Logan Group Co has a M-score of -3.04 suggests that the company is unlikely to be a manipulator.
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