HMS Hydraulic Machines & Systems Group (LSE:HMSG) Beneish M-Score : 0.00 (As of Sep. 24, 2024)

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What is HMS Hydraulic Machines & Systems Group 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 HMS Hydraulic Machines & Systems Group's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of HMS Hydraulic Machines & Systems Group was 0.00. The lowest was 0.00. And the median was 0.00.

HMS Hydraulic Machines & Systems Group Beneish M-Score Historical Data

The historical data trend for HMS Hydraulic Machines & Systems Group'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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HMS Hydraulic Machines & Systems Group Beneish M-Score Chart

HMS Hydraulic Machines & Systems Group Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Beneish M-Score

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-2.98

-2.48

-1.91

-3.29

-2.09

HMS Hydraulic Machines & Systems Group Quarterly Data
	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Mar20	Jun20	Dec20	Mar21	Jun21	Dec21
Beneish M-Score	Get a 7-Day Free Trial															-	-3.29	-	-	-2.09

Competitive Comparison of HMS Hydraulic Machines & Systems Group's Beneish M-Score

For the Specialty Industrial Machinery subindustry, HMS Hydraulic Machines & Systems Group'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.

HMS Hydraulic Machines & Systems Group's Beneish M-Score Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, HMS Hydraulic Machines & Systems Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where HMS Hydraulic Machines & Systems Group's Beneish M-Score falls into.

HMS Hydraulic Machines & Systems Group 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 HMS Hydraulic Machines & Systems Group 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 * 0.8293

0.528 * 1.0723

0.404 * 0.8438

0.892 * 1.3165

0.115 * 0.9073

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.706

4.679 * 0.067528

0.327 * 1.0097

-2.03

This Year (Dec21) TTM:

Last Year (Jun20) TTM:

Total Receivables was $317.0 Mil.
Revenue was 0 + 198.699 + 147.431 + 0 = $346.1 Mil.
Gross Profit was 0 + 37.79 + 27.496 + 0 = $65.3 Mil.
Total Current Assets was $604.3 Mil.
Total Assets was $876.7 Mil.
Property, Plant and Equipment(Net PPE) was $195.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $16.2 Mil.
Selling, General, & Admin. Expense(SGA) was $10.7 Mil.
Total Current Liabilities was $358.2 Mil.
Long-Term Debt & Capital Lease Obligation was $297.5 Mil.
Net Income was 0 + 3.572 + 0.561 + 0 = $4.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.0 Mil.
Cash Flow from Operations was 0 + -44.868 + -10.198 + 0 = $-55.1 Mil.

Total Receivables was $290.3 Mil.
Revenue was 148.384 + 114.528 + 0 + 0 = $262.9 Mil.
Gross Profit was 28.197 + 24.979 + 0 + 0 = $53.2 Mil.
Total Current Assets was $571.7 Mil.
Total Assets was $881.5 Mil.
Property, Plant and Equipment(Net PPE) was $218.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $16.3 Mil.
Selling, General, & Admin. Expense(SGA) was $11.5 Mil.
Total Current Liabilities was $428.7 Mil.
Long-Term Debt & Capital Lease Obligation was $224.3 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)
	=	(317.006 / 346.13)	/	(290.344 / 262.912)
	=	0.915858	/	1.104339
	=	0.8293

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)
	=	(53.176 / 262.912)	/	(65.286 / 346.13)
	=	0.202258	/	0.188617
	=	1.0723

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 - (604.33 + 195.58) / 876.655)	/	(1 - (571.728 + 218.29) / 881.473)
	=	0.087543	/	0.103752
	=	0.8438

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
	=	346.13	/	262.912
	=	1.3165

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))
	=	(16.254 / (16.254 + 218.29))	/	(16.173 / (16.173 + 195.58))
	=	0.0693	/	0.076377
	=	0.9073

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)
	=	(10.712 / 346.13)	/	(11.525 / 262.912)
	=	0.030948	/	0.043836
	=	0.706

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)
	=	((297.504 + 358.247) / 876.655)	/	((224.297 + 428.72) / 881.473)
	=	0.748015	/	0.740825
	=	1.0097

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
	=	(4.133 - 0	-	-55.066)	/	876.655
	=	0.067528

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.

HMS Hydraulic Machines & Systems Group has a M-score of -2.03 suggests that the company is unlikely to be a manipulator.

HMS Hydraulic Machines & Systems Group Beneish M-Score Related Terms

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HMS Hydraulic Machines & Systems Group Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » HMS Hydraulic Machines & Systems Group PLC (LSE:HMSG) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

7 Chayanova Street, Moscow, RUS, 125047

Website

https://www.grouphms.ru

HMS Hydraulic Machines & Systems Group PLC manufactures pump and compressor equipment and provides flow control solutions and related services to oil and gas, power, water supply, and utilities and industrial application industries in Russia and CIS countries and also produces skid-mounted modular oilfield equipment. The company's operating segments are Industrial pumps; Oil and gas equipment & projects; Compressors; and Construction. Its geographical segments are Russia, Ukraine, Germany, Kazakhstan, India, Belarus, Iraq, Iran, Azerbaijan, Egypt, and Others.

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