PT Cowell Development Tbk Beneish M-Score Historical Data
The historical data trend for PT Cowell Development Tbk'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.
PT Cowell Development Tbk Beneish M-Score Chart
|
PT Cowell Development Tbk Annual Data
|
|
Trend |
Dec10 |
Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
0.00 |
0.00 |
0.79 |
-2.97 |
0.00 |
|
PT Cowell Development Tbk Quarterly Data
|
|
Dec14 |
Mar15 |
Jun15 |
Sep15 |
Dec15 |
Mar16 |
Jun16 |
Sep16 |
Dec16 |
Mar17 |
Jun17 |
Sep17 |
Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Jun19 |
Sep19 |
Dec19 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
0.16 |
-2.97 |
-2.67 |
-2.40 |
0.00 |
PT Cowell Development Tbk Beneish M-Score Competitor Comparison
For the Real Estate - Development subindustry, PT Cowell Development Tbk'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.
PT Cowell Development Tbk Beneish M-Score vs Real Estate Industry
For the Real Estate industry and Real Estate sector, PT Cowell Development Tbk's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PT Cowell Development Tbk's Beneish M-Score falls into.
PT Cowell Development Tbk 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 PT Cowell Development Tbk 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 * 1.7559 | + | 0.528 * -2.2698 | + | 0.404 * 1.1553 | + | 0.892 * 0.8184 | + | 0.115 * 1.3623 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.578 | + | 4.679 * -0.334088 | - | 0.327 * 1.2149 |
| = | -5.30 |
* 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 (Dec19) TTM: | Last Year (Sep18) TTM: |
Total Receivables was Rp91,983 Mil.
Revenue was 224146.518 + 75797.308 + 0 + 76431.839 = Rp376,376 Mil.
Gross Profit was -215244.176 + 56258.142 + 0 + 51162.201 = Rp-107,824 Mil.
Total Current Assets was Rp304,368 Mil.
Total Assets was Rp2,550,516 Mil.
Property, Plant and Equipment(Net PPE) was Rp246,925 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp2,302 Mil.
Selling, General, & Admin. Expense(SGA) was Rp53,915 Mil.
Total Current Liabilities was Rp2,194,111 Mil.
Long-Term Debt & Capital Lease Obligation was Rp639 Mil.
Net Income was -933915.182 + -16200.547 + 0 + -19294.48 = Rp-969,410 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was -2667.772 + 5931.076 + 0 + -120576.277 = Rp-117,313 Mil.
|
Total Receivables was Rp64,009 Mil.
Revenue was 74079.668 + 141768.332 + 125889.073 + 118159.987 = Rp459,897 Mil.
Gross Profit was 52171.251 + 94824.477 + 76392.904 + 75665.803 = Rp299,054 Mil.
Total Current Assets was Rp779,137 Mil.
Total Assets was Rp3,572,966 Mil.
Property, Plant and Equipment(Net PPE) was Rp369,581 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp4,709 Mil.
Selling, General, & Admin. Expense(SGA) was Rp41,748 Mil.
Total Current Liabilities was Rp913,816 Mil.
Long-Term Debt & Capital Lease Obligation was Rp1,616,836 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) |
| = | (91982.621 / 376375.665) | / | (64008.996 / 459897.06) |
| = | 0.24439 | / | 0.139181 |
| | = | 1.7559 |
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) |
| = | (299054.435 / 459897.06) | / | (-107823.833 / 376375.665) |
| = | 0.650264 | / | -0.286479 |
| | = | -2.2698 |
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 - (304368.144 + 246925.005) / 2550516.101) | / | (1 - (779136.768 + 369580.533) / 3572966.237) |
| = | 0.78385 | / | 0.678498 |
| | = | 1.1553 |
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 |
| = | 376375.665 | / | 459897.06 |
| | = | 0.8184 |
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)) |
| = | (4709.049 / (4709.049 + 369580.533)) | / | (2301.682 / (2301.682 + 246925.005)) |
| = | 0.012581 | / | 0.009235 |
| | = | 1.3623 |
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) |
| = | (53914.609 / 376375.665) | / | (41747.618 / 459897.06) |
| = | 0.143247 | / | 0.090776 |
| | = | 1.578 |
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) |
| = | ((638.589 + 2194110.765) / 2550516.101) | / | ((1616835.503 + 913815.913) / 3572966.237) |
| = | 0.860512 | / | 0.708277 |
| | = | 1.2149 |
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 |
| = | (-969410.209 - 0 | - | -117312.973) | / | 2550516.101 |
| | = | -0.334088 |
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.
PT Cowell Development Tbk has a M-score of -5.30 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ISX:COWL has been successfully added to your 
