ENGIE Energia Peru (LIM:ENGIEC1) Beneish M-Score : -2.43 (As of Dec. 14, 2024)

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What is ENGIE Energia Peru 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.

Good Sign:

Beneish M-Score -2.43 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for ENGIE Energia Peru's Beneish M-Score or its related term are showing as below:

LIM:ENGIEC1' s Beneish M-Score Range Over the Past 10 Years
Min: -3.15 Med: -2.58 Max: -1.65
Current: -2.43

During the past 13 years, the highest Beneish M-Score of ENGIE Energia Peru was -1.65. The lowest was -3.15. And the median was -2.58.

ENGIE Energia Peru Beneish M-Score Historical Data

The historical data trend for ENGIE Energia Peru'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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ENGIE Energia Peru Beneish M-Score Chart

ENGIE Energia Peru Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.58

-2.60

-2.65

-1.65

-2.48

ENGIE Energia Peru Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-2.22	-2.36	-2.48	-2.18	-2.43

Competitive Comparison of ENGIE Energia Peru's Beneish M-Score

For the Utilities - Renewable subindustry, ENGIE Energia Peru'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.

ENGIE Energia Peru's Beneish M-Score Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, ENGIE Energia Peru's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where ENGIE Energia Peru's Beneish M-Score falls into.

ENGIE Energia Peru 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 ENGIE Energia Peru 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 * 0.931

0.528 * 1.3733

0.404 * 1.4153

0.892 * 1.0932

0.115 * 0.8428

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0899

4.679 * -0.061135

0.327 * 1.0513

-2.43

This Year (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was S/.652 Mil.
Revenue was 558.055 + 565.01 + 513.383 + 856.427 = S/.2,493 Mil.
Gross Profit was 145.899 + 159.041 + 50.69 + 64.936 = S/.421 Mil.
Total Current Assets was S/.1,423 Mil.
Total Assets was S/.8,771 Mil.
Property, Plant and Equipment(Net PPE) was S/.6,521 Mil.
Depreciation, Depletion and Amortization(DDA) was S/.5 Mil.
Selling, General, & Admin. Expense(SGA) was S/.36 Mil.
Total Current Liabilities was S/.769 Mil.
Long-Term Debt & Capital Lease Obligation was S/.1,891 Mil.
Net Income was 79.037 + 92.212 + -173.973 + 6.22 = S/.3 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = S/.0 Mil.
Cash Flow from Operations was 190.764 + 190.194 + -195.462 + 354.242 = S/.540 Mil.

Total Receivables was S/.641 Mil.
Revenue was 613.26 + 523.652 + 654.995 + 488.443 = S/.2,280 Mil.
Gross Profit was 163.645 + 136.679 + 105.586 + 122.418 = S/.528 Mil.
Total Current Assets was S/.1,195 Mil.
Total Assets was S/.8,802 Mil.
Property, Plant and Equipment(Net PPE) was S/.7,020 Mil.
Depreciation, Depletion and Amortization(DDA) was S/.5 Mil.
Selling, General, & Admin. Expense(SGA) was S/.30 Mil.
Total Current Liabilities was S/.559 Mil.
Long-Term Debt & Capital Lease Obligation was S/.1,980 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)
	=	(652.48 / 2492.875)	/	(641.107 / 2280.35)
	=	0.261738	/	0.281144
	=	0.931

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)
	=	(528.328 / 2280.35)	/	(420.566 / 2492.875)
	=	0.231687	/	0.168707
	=	1.3733

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 - (1423.422 + 6521.473) / 8771.471)	/	(1 - (1195.355 + 7020.139) / 8801.508)
	=	0.094235	/	0.066581
	=	1.4153

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
	=	2492.875	/	2280.35
	=	1.0932

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))
	=	(4.594 / (4.594 + 7020.139))	/	(5.063 / (5.063 + 6521.473))
	=	0.000654	/	0.000776
	=	0.8428

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)
	=	(36.171 / 2492.875)	/	(30.359 / 2280.35)
	=	0.01451	/	0.013313
	=	1.0899

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)
	=	((1890.902 + 768.912) / 8771.471)	/	((1980.197 + 558.517) / 8801.508)
	=	0.303235	/	0.288441
	=	1.0513

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
	=	(3.496 - 0	-	539.738)	/	8771.471
	=	-0.061135

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.

ENGIE Energia Peru has a M-score of -2.43 suggests that the company is unlikely to be a manipulator.

ENGIE Energia Peru Beneish M-Score Related Terms

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ENGIE Energia Peru Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » ENGIE Energia Peru SA (LIM:ENGIEC1) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Avenida Republica de Panama 3490, San Isidro, Lima, PER, 27

Website

https://www.engie-energia.pe

ENGIE Energia Peru SA is a Peru-based company engaged in the generation and commercialization of electrical energy. The company has a diversified portfolio of electricity generation based on different technologies and fuels such as water, natural gas, oil, coal, and soon solar. It produces a total of around 2496 MW of electricity from 2 hydroelectric power plants and 5 thermal power plants. The group works to supply electric energy to the end user, both to households and to the business sector.

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