Albemarle & Bond Holdings (LSE:ABM) Beneish M-Score : 0.00 (As of Jun. 22, 2024)

View and export this data going back to . Start your Free Trial

What is Albemarle & Bond Holdings 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 Albemarle & Bond Holdings's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Albemarle & Bond Holdings was 0.00. The lowest was 0.00. And the median was 0.00.

Albemarle & Bond Holdings Beneish M-Score Historical Data

The historical data trend for Albemarle & Bond Holdings'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.

* Premium members only.

Albemarle & Bond Holdings Beneish M-Score Chart

Albemarle & Bond Holdings Annual Data

Trend

Jun04

Jun05

Jun06

Jun07

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

Beneish M-Score

Get a 7-Day Free Trial

-4.55

-4.58

-4.29

-2.25

-2.81

Albemarle & Bond Holdings Semi-Annual Data
	Jun92	Jun93	Jun94	Jun95	Jun96	Jun97	Jun98	Jun01	Jun02	Jun03	Jun04	Jun05	Jun06	Jun07	Jun08	Jun09	Jun10	Jun11	Jun12	Jun13
Beneish M-Score	Get a 7-Day Free Trial															-4.55	-4.58	-4.29	-2.25	-2.81

Competitive Comparison of Albemarle & Bond Holdings's Beneish M-Score

For the Credit Services subindustry, Albemarle & Bond Holdings'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.

Albemarle & Bond Holdings's Beneish M-Score Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, Albemarle & Bond Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Albemarle & Bond Holdings's Beneish M-Score falls into.

Albemarle & Bond Holdings 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 Albemarle & Bond Holdings 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 * 1.0118

0.528 * 1.0559

0.404 * 1.1061

0.892 * 0.9097

0.115 * 0.7829

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1394

4.679 * -0.049143

0.327 * 1.1191

-2.80

This Year (Jun13) TTM:

Last Year (Jun12) TTM:

Total Receivables was £45.0 Mil.
Revenue was £107.1 Mil.
Gross Profit was £59.5 Mil.
Total Current Assets was £94.3 Mil.
Total Assets was £140.6 Mil.
Property, Plant and Equipment(Net PPE) was £14.2 Mil.
Depreciation, Depletion and Amortization(DDA) was £4.6 Mil.
Selling, General, & Admin. Expense(SGA) was £48.2 Mil.
Total Current Liabilities was £62.4 Mil.
Long-Term Debt & Capital Lease Obligation was £0.0 Mil.
Net Income was £3.5 Mil.
Gross Profit was £0.0 Mil.
Cash Flow from Operations was £10.4 Mil.

Total Receivables was £48.9 Mil.
Revenue was £117.7 Mil.
Gross Profit was £69.1 Mil.
Total Current Assets was £90.9 Mil.
Total Assets was £135.2 Mil.
Property, Plant and Equipment(Net PPE) was £16.5 Mil.
Depreciation, Depletion and Amortization(DDA) was £3.9 Mil.
Selling, General, & Admin. Expense(SGA) was £46.5 Mil.
Total Current Liabilities was £10.1 Mil.
Long-Term Debt & Capital Lease Obligation was £43.5 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)
	=	(45.008 / 107.069)	/	(48.898 / 117.697)
	=	0.420364	/	0.415457
	=	1.0118

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)
	=	(69.095 / 117.697)	/	(59.527 / 107.069)
	=	0.587058	/	0.555969
	=	1.0559

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 - (94.332 + 14.249) / 140.629)	/	(1 - (90.861 + 16.507) / 135.23)
	=	0.22789	/	0.206034
	=	1.1061

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
	=	107.069	/	117.697
	=	0.9097

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))
	=	(3.933 / (3.933 + 16.507))	/	(4.643 / (4.643 + 14.249))
	=	0.192417	/	0.245765
	=	0.7829

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)
	=	(48.204 / 107.069)	/	(46.505 / 117.697)
	=	0.450214	/	0.395125
	=	1.1394

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)
	=	((0 + 62.377) / 140.629)	/	((43.5 + 10.1) / 135.23)
	=	0.443557	/	0.396362
	=	1.1191

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
	=	(3.536 - 0	-	10.447)	/	140.629
	=	-0.049143

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.

Albemarle & Bond Holdings has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.

Albemarle & Bond Holdings Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Albemarle & Bond Holdings's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Albemarle & Bond Holdings (LSE:ABM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Credit Services » Albemarle & Bond Holdings PLC (LSE:ABM) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Website

http://www.albemarlebondplc.com

Albemarle & Bond Holdings PLC was incorporated on January 17, 1986. The Company is a holding company engaged in pawnbroking, retail jewellery sales, gold purchasing, unsecured lending, including cheque cashing and other financial services. It has approximately 230 stores and 1,000 employees. Operating under the two brands, Albemarle Bond and Herbert Brown, it provides its customers with a range of services including jewellery retailing, pawnbroking loans, gold purchasing and a range of unsecured loan products. The pawn loan is secured against jewellery for a maximum of six months. The customer can redeem their jewellery by repaying the loan and interest owing at any time without incurring penalties for early redemption. The Company provides short-term loans through three products, PayDay Advances, Speedloans, and Cheque Cashing. PayDay Advances offer customers short-term unsecured loans to meet their cash flow requirements until wages are received. Speedloans provide customers with immediately available installment loans over a longer term of between six and 18 months and Cheque Cashing provides access to their cash for customers who have received cheques. The Company offers a range of new and second hand jewellery. Herbert Brown offers a range of new, second hand and antique jewellery.