Ebebek Magazacilik AS Beneish M-Score Historical Data
The historical data trend for Ebebek Magazacilik AS'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.
Ebebek Magazacilik AS Beneish M-Score Chart
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Ebebek Magazacilik AS Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-2.66 |
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Ebebek Magazacilik AS Quarterly Data
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Dec20 |
Dec21 |
Mar22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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- |
-2.66 |
-1.94 |
- |
-2.29 |
Competitive Comparison of Ebebek Magazacilik AS's Beneish M-Score
For the Specialty Retail subindustry, Ebebek Magazacilik AS'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.
Ebebek Magazacilik AS's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Ebebek Magazacilik AS's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ebebek Magazacilik AS's Beneish M-Score falls into.
Ebebek Magazacilik AS 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 Ebebek Magazacilik AS 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 * 1.8405 | + | 0.528 * 0.6389 | + | 0.404 * 1.0024 | + | 0.892 * 0.7141 | + | 0.115 * 3.1682 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * -0.0488 | + | 4.679 * -0.132286 | - | 0.327 * 0.8575 |
| = | -2.29 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was ₺85 Mil.
Revenue was 4374.228 + 3864.185 + 3556.55 + -164.766 = ₺11,630 Mil.
Gross Profit was 1713.276 + 1368.123 + 1056.957 + 172.667 = ₺4,311 Mil.
Total Current Assets was ₺6,290 Mil.
Total Assets was ₺9,350 Mil.
Property, Plant and Equipment(Net PPE) was ₺2,619 Mil.
Depreciation, Depletion and Amortization(DDA) was ₺427 Mil.
Selling, General, & Admin. Expense(SGA) was ₺-76 Mil.
Total Current Liabilities was ₺4,831 Mil.
Long-Term Debt & Capital Lease Obligation was ₺509 Mil.
Net Income was 92.953 + 36.147 + 52.158 + -250.684 = ₺-69 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₺0 Mil.
Cash Flow from Operations was 599.587 + 422.372 + 166.452 + -20.957 = ₺1,167 Mil.
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Total Receivables was ₺64 Mil.
Revenue was 3943.281 + 3527.067 + 3166.55 + 5648.778 = ₺16,286 Mil.
Gross Profit was 954.032 + 1114.563 + 727.608 + 1060.483 = ₺3,857 Mil.
Total Current Assets was ₺3,797 Mil.
Total Assets was ₺4,805 Mil.
Property, Plant and Equipment(Net PPE) was ₺782 Mil.
Depreciation, Depletion and Amortization(DDA) was ₺625 Mil.
Selling, General, & Admin. Expense(SGA) was ₺2,189 Mil.
Total Current Liabilities was ₺2,824 Mil.
Long-Term Debt & Capital Lease Obligation was ₺376 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) |
| = | (84.528 / 11630.197) | / | (64.311 / 16285.676) |
| = | 0.007268 | / | 0.003949 |
| | = | 1.8405 |
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) |
| = | (3856.686 / 16285.676) | / | (4311.023 / 11630.197) |
| = | 0.236815 | / | 0.370675 |
| | = | 0.6389 |
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 - (6290.407 + 2619.063) / 9350.065) | / | (1 - (3797.294 + 781.605) / 4804.762) |
| = | 0.047122 | / | 0.047008 |
| | = | 1.0024 |
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 |
| = | 11630.197 | / | 16285.676 |
| | = | 0.7141 |
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)) |
| = | (625.439 / (625.439 + 781.605)) | / | (427.437 / (427.437 + 2619.063)) |
| = | 0.444506 | / | 0.140304 |
| | = | 3.1682 |
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) |
| = | (-76.363 / 11630.197) | / | (2189.273 / 16285.676) |
| = | -0.006566 | / | 0.134429 |
| | = | -0.0488 |
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) |
| = | ((509.431 + 4830.56) / 9350.065) | / | ((375.786 + 2824.476) / 4804.762) |
| = | 0.571118 | / | 0.66606 |
| | = | 0.8575 |
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 |
| = | (-69.426 - 0 | - | 1167.454) | / | 9350.065 |
| | = | -0.132286 |
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.
Ebebek Magazacilik AS has a M-score of -2.29 suggests that the company is unlikely to be a manipulator.
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