Lippo Beneish M-Score Historical Data
The historical data trend for Lippo'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.
Lippo Beneish M-Score Chart
|
Lippo Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.90 |
-2.29 |
-2.65 |
-2.58 |
-2.11 |
|
Lippo Semi-Annual Data
|
|
Mar14 |
Sep14 |
Mar15 |
Sep15 |
Mar16 |
Sep16 |
Mar17 |
Sep17 |
Mar18 |
Sep18 |
Mar19 |
Sep19 |
Mar20 |
Sep20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.65 |
- |
-2.58 |
- |
-2.11 |
Competitive Comparison of Lippo's Beneish M-Score
For the Restaurants subindustry, Lippo'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.
Lippo's Beneish M-Score Distribution in the Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Lippo's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lippo's Beneish M-Score falls into.
Lippo 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 Lippo 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 * 1.1909 | + | 0.528 * 0.9204 | + | 0.404 * 1.027 | + | 0.892 * 1.2003 | + | 0.115 * 0.9096 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8761 | + | 4.679 * 0.004306 | - | 0.327 * 0.9657 |
| = | -2.11 |
* 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 HK$166.0 Mil.
Revenue was HK$813.5 Mil.
Gross Profit was HK$502.2 Mil.
Total Current Assets was HK$1,038.2 Mil.
Total Assets was HK$15,129.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,199.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$141.8 Mil.
Selling, General, & Admin. Expense(SGA) was HK$442.4 Mil.
Total Current Liabilities was HK$786.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1,399.0 Mil.
Net Income was HK$-35.4 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-100.5 Mil.
|
Total Receivables was HK$116.1 Mil.
Revenue was HK$677.8 Mil.
Gross Profit was HK$385.1 Mil.
Total Current Assets was HK$1,411.6 Mil.
Total Assets was HK$15,591.8 Mil.
Property, Plant and Equipment(Net PPE) was HK$1,243.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$132.3 Mil.
Selling, General, & Admin. Expense(SGA) was HK$420.7 Mil.
Total Current Liabilities was HK$1,235.4 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1,096.6 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) |
| = | (165.987 / 813.522) | / | (116.121 / 677.773) |
| = | 0.204035 | / | 0.171327 |
| | = | 1.1909 |
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) |
| = | (385.093 / 677.773) | / | (502.214 / 813.522) |
| = | 0.568174 | / | 0.617333 |
| | = | 0.9204 |
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 - (1038.189 + 1199.625) / 15129.873) | / | (1 - (1411.587 + 1243.694) / 15591.777) |
| = | 0.852093 | / | 0.8297 |
| | = | 1.027 |
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 |
| = | 813.522 | / | 677.773 |
| | = | 1.2003 |
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)) |
| = | (132.255 / (132.255 + 1243.694)) | / | (141.753 / (141.753 + 1199.625)) |
| = | 0.096119 | / | 0.105677 |
| | = | 0.9096 |
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) |
| = | (442.36 / 813.522) | / | (420.678 / 677.773) |
| = | 0.543759 | / | 0.620677 |
| | = | 0.8761 |
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) |
| = | ((1398.95 + 786.459) / 15129.873) | / | ((1096.611 + 1235.423) / 15591.777) |
| = | 0.144443 | / | 0.149568 |
| | = | 0.9657 |
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 |
| = | (-35.381 - 0 | - | -100.534) | / | 15129.873 |
| | = | 0.004306 |
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.
Lippo has a M-score of -2.11 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:00226 has been successfully added to your