Rosseti Centre PJSC Beneish M-Score Historical Data
The historical data trend for Rosseti Centre 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.
Rosseti Centre PJSC Beneish M-Score Chart
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Rosseti Centre 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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-2.88 |
-2.87 |
-2.88 |
-3.02 |
-3.11 |
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Rosseti Centre PJSC Quarterly Data
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Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
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Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
| Beneish M-Score |
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-3.13 |
-3.11 |
-3.04 |
-2.96 |
-2.86 |
MIC:MRKC vs NEE, SO, DUK: Beneish M-Score Comparison
For the Utilities - Regulated Electric subindustry, Rosseti Centre 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.
Rosseti Centre PJSC Beneish M-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Rosseti Centre PJSC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Rosseti Centre PJSC's Beneish M-Score falls into.
Rosseti Centre 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 Rosseti Centre 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 * 0.9597 | + | 0.528 * 1.0372 | + | 0.404 * 0.8727 | + | 0.892 * 1.1249 | + | 0.115 * 1.0833 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8842 | + | 4.679 * -0.098852 | - | 0.327 * 0.9623 |
| = | -2.86 |
* 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 (Sep22) TTM: |
Total Receivables was ₽12,141 Mil.
Revenue was 28524.675 + 29241.504 + 33653.674 + 33787.777 = ₽125,208 Mil.
Gross Profit was 13342.841 + 15092.444 + 16787.008 + 17038.939 = ₽62,261 Mil.
Total Current Assets was ₽25,703 Mil.
Total Assets was ₽143,679 Mil.
Property, Plant and Equipment(Net PPE) was ₽113,325 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽12,465 Mil.
Selling, General, & Admin. Expense(SGA) was ₽624 Mil.
Total Current Liabilities was ₽41,416 Mil.
Long-Term Debt & Capital Lease Obligation was ₽31,959 Mil.
Net Income was 1684.595 + 1971.392 + 3801.519 + 940.975 = ₽8,398 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₽0 Mil.
Cash Flow from Operations was 5002.828 + 3121.847 + 5627.963 + 8848.867 = ₽22,602 Mil.
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Total Receivables was ₽11,246 Mil.
Revenue was 26187.862 + 25296.672 + 29316.623 + 30505.49 = ₽111,307 Mil.
Gross Profit was 13063.247 + 12986.134 + 14555.672 + 16803.508 = ₽57,409 Mil.
Total Current Assets was ₽23,182 Mil.
Total Assets was ₽134,053 Mil.
Property, Plant and Equipment(Net PPE) was ₽105,899 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽12,735 Mil.
Selling, General, & Admin. Expense(SGA) was ₽628 Mil.
Total Current Liabilities was ₽47,323 Mil.
Long-Term Debt & Capital Lease Obligation was ₽23,821 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) |
| = | (12141.234 / 125207.63) | / | (11246.015 / 111306.647) |
| = | 0.096969 | / | 0.101036 |
| | = | 0.9597 |
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) |
| = | (57408.561 / 111306.647) | / | (62261.232 / 125207.63) |
| = | 0.515769 | / | 0.497264 |
| | = | 1.0372 |
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 - (25703.47 + 113325.124) / 143679.111) | / | (1 - (23182.489 + 105899.023) / 134053.352) |
| = | 0.032367 | / | 0.037089 |
| | = | 0.8727 |
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 |
| = | 125207.63 | / | 111306.647 |
| | = | 1.1249 |
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)) |
| = | (12734.634 / (12734.634 + 105899.023)) | / | (12465.058 / (12465.058 + 113325.124)) |
| = | 0.107344 | / | 0.099094 |
| | = | 1.0833 |
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) |
| = | (624.29 / 125207.63) | / | (627.696 / 111306.647) |
| = | 0.004986 | / | 0.005639 |
| | = | 0.8842 |
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) |
| = | ((31958.55 + 41416.334) / 143679.111) | / | ((23820.755 + 47323.286) / 134053.352) |
| = | 0.510686 | / | 0.530714 |
| | = | 0.9623 |
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 |
| = | (8398.481 - 0 | - | 22601.505) | / | 143679.111 |
| | = | -0.098852 |
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.
Rosseti Centre PJSC has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.
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