AxtelB de CV (MEX:AXTELCPO) Beneish M-Score : 2.56 (As of Dec. 11, 2024)

View and export this data going back to 2005. Start your Free Trial

What is AxtelB de CV 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.

Warning Sign:

Beneish M-Score 2.56 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for AxtelB de CV's Beneish M-Score or its related term are showing as below:

MEX:AXTELCPO' s Beneish M-Score Range Over the Past 10 Years
Min: -3.98 Med: -3.25 Max: 3.09
Current: 2.56

During the past 13 years, the highest Beneish M-Score of AxtelB de CV was 3.09. The lowest was -3.98. And the median was -3.25.

AxtelB de CV Beneish M-Score Historical Data

The historical data trend for AxtelB de CV'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.

AxtelB de CV Beneish M-Score Chart

AxtelB de CV Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.90

-3.36

-3.49

-3.52

3.09

AxtelB de CV Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-3.24	3.09	2.89	2.62	2.56

Competitive Comparison of AxtelB de CV's Beneish M-Score

For the Telecom Services subindustry, AxtelB de CV'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.

AxtelB de CV's Beneish M-Score Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, AxtelB de CV's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where AxtelB de CV's Beneish M-Score falls into.

AxtelB de CV 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 AxtelB de CV 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 * 0.1228

0.528 * 0.5512

0.404 * 1.0776

0.892 * 8.7364

0.115 * 0.9854

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.1081

4.679 * -0.211374

0.327 * 1.0343

2.56

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was MXN2,093 Mil.
Revenue was 2868.54 + 2741.548 + 2648.641 + 86188.443 = MXN94,447 Mil.
Gross Profit was 1529.209 + 1505.409 + 1478.789 + 84839.102 = MXN89,353 Mil.
Total Current Assets was MXN4,589 Mil.
Total Assets was MXN17,472 Mil.
Property, Plant and Equipment(Net PPE) was MXN7,976 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN2,331 Mil.
Selling, General, & Admin. Expense(SGA) was MXN4,978 Mil.
Total Current Liabilities was MXN2,931 Mil.
Long-Term Debt & Capital Lease Obligation was MXN11,072 Mil.
Net Income was -304.117 + -466.378 + -9 + 287.368 = MXN-492 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = MXN0 Mil.
Cash Flow from Operations was 780.439 + 1024.185 + 363.552 + 1032.737 = MXN3,201 Mil.

Total Receivables was MXN1,950 Mil.
Revenue was 2781.583 + 2631.046 + 2745.725 + 2652.371 = MXN10,811 Mil.
Gross Profit was 1484.451 + 1400.567 + 1353.369 + 1399.081 = MXN5,637 Mil.
Total Current Assets was MXN3,677 Mil.
Total Assets was MXN16,888 Mil.
Property, Plant and Equipment(Net PPE) was MXN8,810 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN2,527 Mil.
Selling, General, & Admin. Expense(SGA) was MXN5,270 Mil.
Total Current Liabilities was MXN3,545 Mil.
Long-Term Debt & Capital Lease Obligation was MXN9,540 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)
	=	(2092.676 / 94447.172)	/	(1950.057 / 10810.725)
	=	0.022157	/	0.180382
	=	0.1228

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)
	=	(5637.468 / 10810.725)	/	(89352.509 / 94447.172)
	=	0.52147	/	0.946058
	=	0.5512

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 - (4589.272 + 7975.858) / 17471.605)	/	(1 - (3676.786 + 8809.784) / 16887.584)
	=	0.280826	/	0.260606
	=	1.0776

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
	=	94447.172	/	10810.725
	=	8.7364

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))
	=	(2526.729 / (2526.729 + 8809.784))	/	(2331.414 / (2331.414 + 7975.858))
	=	0.222884	/	0.226191
	=	0.9854

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)
	=	(4978.277 / 94447.172)	/	(5270.342 / 10810.725)
	=	0.05271	/	0.487511
	=	0.1081

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)
	=	((11071.688 + 2930.793) / 17471.605)	/	((9539.74 + 3545.44) / 16887.584)
	=	0.801442	/	0.77484
	=	1.0343

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
	=	(-492.127 - 0	-	3200.913)	/	17471.605
	=	-0.211374

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.

AxtelB de CV has a M-score of 2.56 signals that the company is likely to be a manipulator.

AxtelB de CV Beneish M-Score Related Terms

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

AxtelB de CV Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » Axtel SAB de CV (MEX:AXTELCPO) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

4GK:Germany

Address

Boulevard Diaz Ordaz Km. 3.33 L-1, Col. Unidad San Pedro, San Pedro Garza Garcia, NL, MEX, 66215

Website

http://www.axtelcorp.mx

Axtel SAB de CV is a Mexican based information and communication technology company. The company has two operating segments namely Business operating segment offers communication services such as information, data and Internet technologies, managed through the company's network and infrastructure for both multinational companies, as well as for international and national businesses. Its Government operating segment offers communication services such as information, data and Internet technologies, administered through the company's network and infrastructure, for the federal, state and municipal governments. The company generates maximum revenue from the Business segment. Geographically, it derives majority revenue from the Mexico region.

AxtelB de CV Headlines

No Headlines