Acron PJSC Beneish M-Score Historical Data
The historical data trend for Acron PJSC'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.
Acron PJSC Beneish M-Score Chart
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Acron PJSC Annual Data
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Dec11 |
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Dec20 |
| Beneish M-Score |
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-2.93 |
-1.35 |
-2.63 |
-2.73 |
-2.27 |
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Acron PJSC Quarterly Data
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Jun18 |
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Sep23 |
| Beneish M-Score |
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0.00 |
0.00 |
0.00 |
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0.00 |
MIC:AKRN vs CTVA, CF, MOS: Beneish M-Score Comparison
For the Agricultural Inputs subindustry, Acron PJSC'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.
Acron PJSC Beneish M-Score vs Agriculture Industry
For the Agriculture industry and Basic Materials sector, Acron PJSC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Acron PJSC's Beneish M-Score falls into.
Acron PJSC 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 Acron PJSC 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 (Sep23) TTM: | Last Year (Jun22) TTM: |
Total Receivables was ₽51,954 Mil.
Revenue was 6446.455 + 34993 + 37941.939 + -14384.684 = ₽64,997 Mil.
Gross Profit was 1107.887 + 13772 + 20505.184 + -8147.879 = ₽27,237 Mil.
Total Current Assets was ₽126,354 Mil.
Total Assets was ₽281,950 Mil.
Property, Plant and Equipment(Net PPE) was ₽63,810 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽0 Mil.
Selling, General, & Admin. Expense(SGA) was ₽6,857 Mil.
Total Current Liabilities was ₽40,707 Mil.
Long-Term Debt & Capital Lease Obligation was ₽75,258 Mil.
Net Income was 6919.049 + 3172 + 13817.556 + 1441.116 = ₽25,350 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₽0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = ₽0 Mil.
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Total Receivables was ₽0 Mil.
Revenue was 49374 + 66074.489 + 51233 + 47030 = ₽213,711 Mil.
Gross Profit was 30479 + 48937.918 + 33928 + 32439 = ₽145,784 Mil.
Total Current Assets was ₽0 Mil.
Total Assets was ₽0 Mil.
Property, Plant and Equipment(Net PPE) was ₽0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽5,870 Mil.
Selling, General, & Admin. Expense(SGA) was ₽23,217 Mil.
Total Current Liabilities was ₽0 Mil.
Long-Term Debt & Capital Lease Obligation was ₽0 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) |
| = | (51954.456 / 64996.71) | / | (0 / 213711.489) |
| = | 0.79934 | / | 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) |
| = | (145783.918 / 213711.489) | / | (27237.192 / 64996.71) |
| = | 0.682153 | / | 0.419055 |
| | = | |
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 - (126353.581 + 63809.78) / 281949.929) | / | (1 - (0 + 0) / 0) |
| = | 0.325542 | / | |
| | = | |
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 |
| = | 64996.71 | / | 213711.489 |
| | = | |
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)) |
| = | (5870 / (5870 + 0)) | / | (0 / (0 + 63809.78)) |
| = | 1 | / | 0 |
| | = | |
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) |
| = | (6856.768 / 64996.71) | / | (23216.678 / 213711.489) |
| = | 0.105494 | / | 0.108636 |
| | = | |
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) |
| = | ((75258.235 + 40707.132) / 281949.929) | / | ((0 + 0) / 0) |
| = | 0.411298 | / | |
| | = | |
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 |
| = | (25349.721 - 0 | - | 0) | / | 281949.929 |
| | = | 0.089909 |
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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