Karoon Energy Beneish M-Score Historical Data
The historical data trend for Karoon Energy'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.
Karoon Energy Beneish M-Score Chart
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Karoon Energy Annual Data
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Jun23 |
| Beneish M-Score |
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- |
- |
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-1.23 |
-2.26 |
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Karoon Energy Semi-Annual Data
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Jun24 |
| Beneish M-Score |
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-1.23 |
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-2.26 |
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Competitive Comparison of Karoon Energy's Beneish M-Score
For the Oil & Gas E&P subindustry, Karoon Energy'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.
Karoon Energy's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Karoon Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Karoon Energy's Beneish M-Score falls into.
Karoon Energy 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 Karoon Energy 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 * 0.8579 | + | 0.528 * 0.9974 | + | 0.404 * 1.0575 | + | 0.892 * 1.4354 | + | 0.115 * 1.0479 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8301 | + | 4.679 * -0.054351 | - | 0.327 * 0.7992 |
| = | -2.35 |
* 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 (Jun23) TTM: | Last Year (Jun22) TTM: |
Total Receivables was €65.6 Mil.
Revenue was €522.9 Mil.
Gross Profit was €455.0 Mil.
Total Current Assets was €154.3 Mil.
Total Assets was €1,098.7 Mil.
Property, Plant and Equipment(Net PPE) was €81.6 Mil.
Depreciation, Depletion and Amortization(DDA) was €132.8 Mil.
Selling, General, & Admin. Expense(SGA) was €23.7 Mil.
Total Current Liabilities was €181.1 Mil.
Long-Term Debt & Capital Lease Obligation was €210.9 Mil.
Net Income was €150.4 Mil.
Gross Profit was €-72.2 Mil.
Cash Flow from Operations was €282.3 Mil.
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Total Receivables was €53.3 Mil.
Revenue was €364.3 Mil.
Gross Profit was €316.2 Mil.
Total Current Assets was €232.3 Mil.
Total Assets was €1,101.3 Mil.
Property, Plant and Equipment(Net PPE) was €51.2 Mil.
Depreciation, Depletion and Amortization(DDA) was €94.7 Mil.
Selling, General, & Admin. Expense(SGA) was €19.9 Mil.
Total Current Liabilities was €234.0 Mil.
Long-Term Debt & Capital Lease Obligation was €257.6 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) |
| = | (65.625 / 522.88) | / | (53.294 / 364.28) |
| = | 0.125507 | / | 0.1463 |
| | = | 0.8579 |
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) |
| = | (316.197 / 364.28) | / | (455.039 / 522.88) |
| = | 0.868005 | / | 0.870255 |
| | = | 0.9974 |
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 - (154.326 + 81.593) / 1098.739) | / | (1 - (232.28 + 51.173) / 1101.275) |
| = | 0.785282 | / | 0.742614 |
| | = | 1.0575 |
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 |
| = | 522.88 | / | 364.28 |
| | = | 1.4354 |
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)) |
| = | (94.679 / (94.679 + 51.173)) | / | (132.82 / (132.82 + 81.593)) |
| = | 0.649144 | / | 0.619459 |
| | = | 1.0479 |
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) |
| = | (23.721 / 522.88) | / | (19.907 / 364.28) |
| = | 0.045366 | / | 0.054648 |
| | = | 0.8301 |
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) |
| = | ((210.906 + 181.093) / 1098.739) | / | ((257.586 + 234.046) / 1101.275) |
| = | 0.356772 | / | 0.446421 |
| | = | 0.7992 |
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 |
| = | (150.449 - -72.179 | - | 282.346) | / | 1098.739 |
| | = | -0.054351 |
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.
Karoon Energy has a M-score of -2.35 suggests that the company is unlikely to be a manipulator.
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