Magnit PJSC Beneish M-Score Historical Data
The historical data trend for Magnit 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.
Magnit PJSC Beneish M-Score Chart
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Magnit PJSC Annual Data
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Trend |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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2.78 |
-2.10 |
-3.35 |
-1.98 |
-2.72 |
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Magnit PJSC Semi-Annual Data
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Dec13 |
Jun14 |
Dec14 |
Jun15 |
Dec15 |
Jun16 |
Dec16 |
Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
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Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
| Beneish M-Score |
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0.00 |
-1.98 |
0.00 |
-2.72 |
0.00 |
MIC:MGNT vs WMT, COST, TGT: Beneish M-Score Comparison
For the Discount Stores subindustry, Magnit 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.
Magnit PJSC Beneish M-Score vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Magnit PJSC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Magnit PJSC's Beneish M-Score falls into.
Magnit 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 Magnit 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 * 1.4028 | + | 0.528 * 1.026 | + | 0.404 * 0.6301 | + | 0.892 * 1.2672 | + | 0.115 * 0.7844 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9331 | + | 4.679 * -0.14939 | - | 0.327 * 1.0073 |
| = | -2.72 |
* 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 (Dec22) TTM: | Last Year (Dec21) TTM: |
Total Receivables was ₽21,360 Mil.
Revenue was ₽2,351,996 Mil.
Gross Profit was ₽537,003 Mil.
Total Current Assets was ₽568,622 Mil.
Total Assets was ₽1,395,998 Mil.
Property, Plant and Equipment(Net PPE) was ₽745,323 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽133,825 Mil.
Selling, General, & Admin. Expense(SGA) was ₽72,248 Mil.
Total Current Liabilities was ₽523,023 Mil.
Long-Term Debt & Capital Lease Obligation was ₽658,799 Mil.
Net Income was ₽27,933 Mil.
Gross Profit was ₽0 Mil.
Cash Flow from Operations was ₽236,481 Mil.
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Total Receivables was ₽12,017 Mil.
Revenue was ₽1,856,079 Mil.
Gross Profit was ₽434,799 Mil.
Total Current Assets was ₽320,098 Mil.
Total Assets was ₽1,209,760 Mil.
Property, Plant and Equipment(Net PPE) was ₽776,819 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽105,327 Mil.
Selling, General, & Admin. Expense(SGA) was ₽61,106 Mil.
Total Current Liabilities was ₽415,403 Mil.
Long-Term Debt & Capital Lease Obligation was ₽601,330 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) |
| = | (21359.882 / 2351996.423) | / | (12016.523 / 1856078.95) |
| = | 0.009082 | / | 0.006474 |
| | = | 1.4028 |
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) |
| = | (434799.377 / 1856078.95) | / | (537002.849 / 2351996.423) |
| = | 0.234257 | / | 0.228318 |
| | = | 1.026 |
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 - (568621.84 + 745323.046) / 1395998.44) | / | (1 - (320098.125 + 776819.236) / 1209760.255) |
| = | 0.058778 | / | 0.093277 |
| | = | 0.6301 |
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 |
| = | 2351996.423 | / | 1856078.95 |
| | = | 1.2672 |
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)) |
| = | (105327.003 / (105327.003 + 776819.236)) | / | (133825.452 / (133825.452 + 745323.046)) |
| = | 0.119399 | / | 0.152222 |
| | = | 0.7844 |
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) |
| = | (72247.722 / 2351996.423) | / | (61106.413 / 1856078.95) |
| = | 0.030718 | / | 0.032922 |
| | = | 0.9331 |
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) |
| = | ((658798.903 + 523022.963) / 1395998.44) | / | ((601330.133 + 415403.25) / 1209760.255) |
| = | 0.846578 | / | 0.840442 |
| | = | 1.0073 |
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 |
| = | (27932.517 - 0 | - | 236481.222) | / | 1395998.44 |
| | = | -0.14939 |
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.
Magnit PJSC has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.
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