Infinis Energy Beneish M-Score Historical Data
The historical data trend for Infinis Energy'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.
Infinis Energy Beneish M-Score Chart
|
Infinis Energy Annual Data
|
|
Trend |
Mar11 |
Mar12 |
Mar13 |
Mar14 |
Mar15 |
| Beneish M-Score |
|
- |
- |
-2.69 |
-3.03 |
-2.93 |
|
Infinis Energy Semi-Annual Data
|
|
Mar11 |
Mar12 |
Sep12 |
Mar13 |
Sep13 |
Mar14 |
Sep14 |
Mar15 |
Sep15 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
- |
-3.03 |
- |
-2.93 |
- |
Competitive Comparison of Infinis Energy's Beneish M-Score
For the Utilities - Diversified subindustry, Infinis Energy'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.
Infinis Energy's Beneish M-Score Distribution in the Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Infinis Energy's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Infinis Energy's Beneish M-Score falls into.
Infinis Energy 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 Infinis Energy 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 * 0.8053 | + | 0.528 * 1.0224 | + | 0.404 * 0.9928 | + | 0.892 * 0.9898 | + | 0.115 * 0.9919 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.5017 | + | 4.679 * -0.057514 | - | 0.327 * 1.0069 |
| = | -2.85 |
* 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 (Mar15) TTM: | Last Year (Mar14) TTM: |
Total Receivables was £17.3 Mil.
Revenue was £236.0 Mil.
Gross Profit was £105.7 Mil.
Total Current Assets was £154.0 Mil.
Total Assets was £1,032.1 Mil.
Property, Plant and Equipment(Net PPE) was £422.5 Mil.
Depreciation, Depletion and Amortization(DDA) was £74.6 Mil.
Selling, General, & Admin. Expense(SGA) was £39.2 Mil.
Total Current Liabilities was £73.8 Mil.
Long-Term Debt & Capital Lease Obligation was £590.8 Mil.
Net Income was £20.7 Mil.
Gross Profit was £0.0 Mil.
Cash Flow from Operations was £80.0 Mil.
|
Total Receivables was £21.7 Mil.
Revenue was £238.4 Mil.
Gross Profit was £109.2 Mil.
Total Current Assets was £160.6 Mil.
Total Assets was £1,087.4 Mil.
Property, Plant and Equipment(Net PPE) was £443.3 Mil.
Depreciation, Depletion and Amortization(DDA) was £77.6 Mil.
Selling, General, & Admin. Expense(SGA) was £78.9 Mil.
Total Current Liabilities was £84.6 Mil.
Long-Term Debt & Capital Lease Obligation was £610.8 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) |
| = | (17.28 / 235.981) | / | (21.679 / 238.423) |
| = | 0.073226 | / | 0.090927 |
| | = | 0.8053 |
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) |
| = | (109.185 / 238.423) | / | (105.698 / 235.981) |
| = | 0.457947 | / | 0.447909 |
| | = | 1.0224 |
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 - (154.026 + 422.453) / 1032.057) | / | (1 - (160.639 + 443.276) / 1087.407) |
| = | 0.441427 | / | 0.444628 |
| | = | 0.9928 |
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 |
| = | 235.981 | / | 238.423 |
| | = | 0.9898 |
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)) |
| = | (77.582 / (77.582 + 443.276)) | / | (74.647 / (74.647 + 422.453)) |
| = | 0.14895 | / | 0.150165 |
| | = | 0.9919 |
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) |
| = | (39.2 / 235.981) | / | (78.949 / 238.423) |
| = | 0.166115 | / | 0.33113 |
| | = | 0.5017 |
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) |
| = | ((590.836 + 73.75) / 1032.057) | / | ((610.821 + 84.586) / 1087.407) |
| = | 0.643943 | / | 0.639509 |
| | = | 1.0069 |
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 |
| = | (20.663 - 0 | - | 80.021) | / | 1032.057 |
| | = | -0.057514 |
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.
Infinis Energy has a M-score of -2.85 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
LSE:INFI has been successfully added to your