Detskymir PJSC Beneish M-Score Historical Data
The historical data trend for Detskymir 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.
Detskymir PJSC Beneish M-Score Chart
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Detskymir PJSC Annual Data
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Dec12 |
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Dec18 |
Dec19 |
Dec20 |
Dec21 |
| Beneish M-Score |
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-2.63 |
-1.88 |
-1.74 |
-1.83 |
-2.09 |
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Detskymir PJSC Quarterly Data
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Sep16 |
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Jun23 |
| Beneish M-Score |
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-2.09 |
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-1.83 |
Competitive Comparison of Detskymir PJSC's Beneish M-Score
For the Department Stores subindustry, Detskymir 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.
Detskymir PJSC's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Detskymir PJSC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Detskymir PJSC's Beneish M-Score falls into.
Detskymir 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 Detskymir 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 * 0.8411 | + | 0.528 * 0.9925 | + | 0.404 * 1.0254 | + | 0.892 * 0.7829 | + | 0.115 * 0.942 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * -3.9403 | + | 4.679 * 0.021464 | - | 0.327 * 0.8926 |
| = | -1.83 |
* 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 (Jun23) TTM: | Last Year (Sep21) TTM: |
Total Receivables was ₽3,352 Mil.
Revenue was 0 + 41295 + 37850 + 47291 = ₽126,436 Mil.
Gross Profit was 0 + 14175 + 11421 + 14040 = ₽39,636 Mil.
Total Current Assets was ₽121,262 Mil.
Total Assets was ₽173,591 Mil.
Property, Plant and Equipment(Net PPE) was ₽44,880 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽8,626 Mil.
Selling, General, & Admin. Expense(SGA) was ₽-18,932 Mil.
Total Current Liabilities was ₽73,519 Mil.
Long-Term Debt & Capital Lease Obligation was ₽78,822 Mil.
Net Income was 0 + 5758 + -517 + 2227 = ₽7,468 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₽0 Mil.
Cash Flow from Operations was 0 + 650 + -2612 + 5704 = ₽3,742 Mil.
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Total Receivables was ₽5,090 Mil.
Revenue was 43942 + 37395 + 35672 + 44488 = ₽161,497 Mil.
Gross Profit was 13928 + 11925 + 10550 + 13845 = ₽50,248 Mil.
Total Current Assets was ₽53,929 Mil.
Total Assets was ₽103,926 Mil.
Property, Plant and Equipment(Net PPE) was ₽45,648 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽8,174 Mil.
Selling, General, & Admin. Expense(SGA) was ₽6,137 Mil.
Total Current Liabilities was ₽56,003 Mil.
Long-Term Debt & Capital Lease Obligation was ₽46,171 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) |
| = | (3352 / 126436) | / | (5090 / 161497) |
| = | 0.026511 | / | 0.031518 |
| | = | 0.8411 |
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) |
| = | (50248 / 161497) | / | (39636 / 126436) |
| = | 0.311139 | / | 0.313487 |
| | = | 0.9925 |
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 - (121262 + 44880) / 173591) | / | (1 - (53929 + 45648) / 103926) |
| = | 0.042911 | / | 0.041847 |
| | = | 1.0254 |
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 |
| = | 126436 | / | 161497 |
| | = | 0.7829 |
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)) |
| = | (8174 / (8174 + 45648)) | / | (8626 / (8626 + 44880)) |
| = | 0.151871 | / | 0.161216 |
| | = | 0.942 |
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) |
| = | (-18932 / 126436) | / | (6137 / 161497) |
| = | -0.149736 | / | 0.038001 |
| | = | -3.9403 |
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) |
| = | ((78822 + 73519) / 173591) | / | ((46171 + 56003) / 103926) |
| = | 0.877586 | / | 0.983142 |
| | = | 0.8926 |
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 |
| = | (7468 - 0 | - | 3742) | / | 173591 |
| | = | 0.021464 |
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.
Detskymir PJSC has a M-score of -1.83 suggests that the company is unlikely to be a manipulator.
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