PT Hotel Mandarine Regency Tbk (ISX:HOME) Beneish M-Score : 0.00 (As of Jun. 01, 2024)

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What is PT Hotel Mandarine Regency Tbk Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for PT Hotel Mandarine Regency Tbk's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of PT Hotel Mandarine Regency Tbk was 0.00. The lowest was 0.00. And the median was 0.00.

PT Hotel Mandarine Regency Tbk Beneish M-Score Historical Data

The historical data trend for PT Hotel Mandarine Regency 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.

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PT Hotel Mandarine Regency Tbk Beneish M-Score Chart

PT Hotel Mandarine Regency Tbk Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Beneish M-Score

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-5.64

-3.31

PT Hotel Mandarine Regency Tbk Quarterly Data
	Dec14	Dec15	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20
Beneish M-Score	Get a 7-Day Free Trial														-	-3.31	-	-	-

Competitive Comparison of PT Hotel Mandarine Regency Tbk's Beneish M-Score

For the Lodging subindustry, PT Hotel Mandarine Regency 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 Hotel Mandarine Regency Tbk's Beneish M-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, PT Hotel Mandarine Regency Tbk's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where PT Hotel Mandarine Regency Tbk's Beneish M-Score falls into.

PT Hotel Mandarine Regency 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 Hotel Mandarine Regency Tbk for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Sep20) TTM:

Last Year (Sep19) TTM:

Total Receivables was Rp26,961 Mil.
Revenue was 2883.162 + 3328.601 + 4036.757 + 4844.931 = Rp15,093 Mil.
Gross Profit was 155.118 + 654.702 + -2739.367 + -10295.19 = Rp-12,225 Mil.
Total Current Assets was Rp2,227,850 Mil.
Total Assets was Rp2,452,280 Mil.
Property, Plant and Equipment(Net PPE) was Rp224,430 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp7,912 Mil.
Selling, General, & Admin. Expense(SGA) was Rp1,019 Mil.
Total Current Liabilities was Rp327,662 Mil.
Long-Term Debt & Capital Lease Obligation was Rp41 Mil.
Net Income was -4713.301 + -2100.068 + -5466.823 + -22674.096 = Rp-34,954 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = Rp0 Mil.
Cash Flow from Operations was -8960.399 + -630.686 + -3458.135 + -2187162.399 = Rp-2,200,212 Mil.

Total Receivables was Rp0 Mil.
Revenue was 6154.93 + 6521.887 + 7370.537 + 7231.795 = Rp27,279 Mil.
Gross Profit was -2055.782 + -1484.375 + 373.033 + -1393.222 = Rp-4,560 Mil.
Total Current Assets was Rp0 Mil.
Total Assets was Rp0 Mil.
Property, Plant and Equipment(Net PPE) was Rp0 Mil.
Depreciation, Depletion and Amortization(DDA) was Rp8,539 Mil.
Selling, General, & Admin. Expense(SGA) was Rp2,771 Mil.
Total Current Liabilities was Rp0 Mil.
Long-Term Debt & Capital Lease Obligation was Rp0 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)
	=	(26961.402 / 15093.451)	/	(0 / 27279.149)
	=	1.786298	/	0
	=

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)
	=	(-4560.346 / 27279.149)	/	(-12224.737 / 15093.451)
	=	-0.167173	/	-0.809937
	=

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 - (2227850.258 + 224429.889) / 2452280.146)	/	(1 - (0 + 0) / 0)
	=	-0	/
	=

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
	=	15093.451	/	27279.149
	=

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))
	=	(8538.871 / (8538.871 + 0))	/	(7911.572 / (7911.572 + 224429.889))
	=	1	/	0.034051
	=

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)
	=	(1019.151 / 15093.451)	/	(2771.214 / 27279.149)
	=	0.067523	/	0.101587
	=

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)
	=	((41 + 327662.002) / 2452280.146)	/	((0 + 0) / 0)
	=	0.133632	/
	=

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
	=	(-34954.288 - 0	-	-2200211.619)	/	2452280.146
	=	0.882957

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 Hotel Mandarine Regency Tbk Beneish M-Score Related Terms

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PT Hotel Mandarine Regency Tbk (ISX:HOME) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » PT Hotel Mandarine Regency Tbk (ISX:HOME) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Jl. Imam Bonjol Number 1, Nagoya-Lubuk Baja, Batam, IDN, 29432

Website

http://www.hmr.co.id

PT Hotel Mandarine Regency Tbk is a company engaged in the hotel operations and provision of hospitality service. It operates through the following segments: Room; Food and Beverages; Goodway Vacation Club Memberships; Fitness Center; Other Department, and Others. The company owns and operates a hotel, namely the Goodway Hotel, which is located in Batam, Indonesia. Goodway Vacation Club Memberships segment act as a major revenue driver for the company followed by Rooms and Food and beverages segments.