Seaport Entertainment Group Beneish M-Score Historical Data
The historical data trend for Seaport Entertainment 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.
Seaport Entertainment Group Beneish M-Score Chart
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Seaport Entertainment Group Annual Data
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Seaport Entertainment Group Quarterly Data
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Competitive Comparison of Seaport Entertainment Group's Beneish M-Score
For the Real Estate Services subindustry, Seaport Entertainment 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.
Seaport Entertainment Group's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Seaport Entertainment Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Seaport Entertainment Group's Beneish M-Score falls into.
Seaport Entertainment 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 Seaport Entertainment Group 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 * | + | 0.528 * | + | 0.404 * | + | 0.892 * | + | 0.115 * |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * | + | 4.679 * | - | 0.327 * |
| = | |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was MXN184 Mil.
Revenue was 781.646 + 621.803 + 243.202 + 388.761 = MXN2,035 Mil.
Gross Profit was 258.494 + 238.711 + 70.119 + 84.464 = MXN652 Mil.
Total Current Assets was MXN1,080 Mil.
Total Assets was MXN12,263 Mil.
Property, Plant and Equipment(Net PPE) was MXN7,187 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN526 Mil.
Selling, General, & Admin. Expense(SGA) was MXN1,510 Mil.
Total Current Liabilities was MXN558 Mil.
Long-Term Debt & Capital Lease Obligation was MXN2,957 Mil.
Net Income was -640.151 + -641.149 + -721.074 + -976.257 = MXN-2,979 Mil.
Non Operating Income was -179.989 + -120.033 + -175.705 + -232.785 = MXN-709 Mil.
Cash Flow from Operations was -173.708 + -372.869 + -311.943 + -384.076 = MXN-1,243 Mil.
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Total Receivables was MXN0 Mil.
Revenue was 705.221 + 643.599 + 265.833 + 0 = MXN1,615 Mil.
Gross Profit was 275.654 + 241.729 + 33.869 + 0 = MXN551 Mil.
Total Current Assets was MXN0 Mil.
Total Assets was MXN0 Mil.
Property, Plant and Equipment(Net PPE) was MXN0 Mil.
Depreciation, Depletion and Amortization(DDA) was MXN702 Mil.
Selling, General, & Admin. Expense(SGA) was MXN345 Mil.
Total Current Liabilities was MXN0 Mil.
Long-Term Debt & Capital Lease Obligation was MXN0 Mil.
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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) |
| = | (184.124 / 2035.412) | / | (0 / 1614.653) |
| = | 0.09046 | / | 0 |
| | = | |
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) |
| = | (551.252 / 1614.653) | / | (651.788 / 2035.412) |
| = | 0.341406 | / | 0.320224 |
| | = | |
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 - (1080.269 + 7186.664) / 12263.198) | / | (1 - (0 + 0) / 0) |
| = | 0.325875 | / | |
| | = | |
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 |
| = | 2035.412 | / | 1614.653 |
| | = | |
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)) |
| = | (701.78 / (701.78 + 0)) | / | (525.712 / (525.712 + 7186.664)) |
| = | 1 | / | 0.068165 |
| | = | |
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) |
| = | (1509.832 / 2035.412) | / | (344.75 / 1614.653) |
| = | 0.741782 | / | 0.213513 |
| | = | |
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) |
| = | ((2956.932 + 557.826) / 12263.198) | / | ((0 + 0) / 0) |
| = | 0.28661 | / | |
| | = | |
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 |
| = | (-2978.631 - -708.512 | - | -1242.596) | / | 12263.198 |
| | = | -0.083789 |
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.
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