Mobile TeleSystems PJSC Beneish M-Score Historical Data
The historical data trend for Mobile TeleSystems 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.
Mobile TeleSystems PJSC Beneish M-Score Chart
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Mobile TeleSystems PJSC Annual Data
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Dec13 |
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Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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-3.25 |
-2.66 |
-2.92 |
-2.84 |
-2.94 |
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Mobile TeleSystems PJSC Quarterly Data
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Mar18 |
Jun18 |
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Mar23 |
| Beneish M-Score |
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-2.84 |
-2.80 |
-3.17 |
-2.94 |
-2.67 |
MIC:MTSS vs TMUS, VZ, CMCSA: Beneish M-Score Comparison
For the Telecom Services subindustry, Mobile TeleSystems 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.
Mobile TeleSystems PJSC Beneish M-Score vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Mobile TeleSystems PJSC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mobile TeleSystems PJSC's Beneish M-Score falls into.
Mobile TeleSystems 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 Mobile TeleSystems 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 * 1.7662 | + | 0.528 * 0.9678 | + | 0.404 * 1.1288 | + | 0.892 * 0.7588 | + | 0.115 * 1.1821 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1634 | + | 4.679 * -0.057383 | - | 0.327 * 1.0085 |
| = | -2.23 |
* 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 (Mar23) TTM: | Last Year (Dec21) TTM: |
Total Receivables was ₽42,021 Mil.
Revenue was 139602 + 0 + 127773 + 131965 = ₽399,340 Mil.
Gross Profit was 91316 + 0 + 83187 + 82544 = ₽257,047 Mil.
Total Current Assets was ₽285,312 Mil.
Total Assets was ₽1,086,721 Mil.
Property, Plant and Equipment(Net PPE) was ₽428,358 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽87,374 Mil.
Selling, General, & Admin. Expense(SGA) was ₽81,534 Mil.
Total Current Liabilities was ₽572,985 Mil.
Long-Term Debt & Capital Lease Obligation was ₽462,271 Mil.
Net Income was 12693 + 0 + 10949 + 3856 = ₽27,498 Mil.
Non Operating Income was 364 + 0 + 10534 + -3336 = ₽7,562 Mil.
Cash Flow from Operations was 28301 + 0 + 44979 + 9015 = ₽82,295 Mil.
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Total Receivables was ₽31,356 Mil.
Revenue was 137241 + 138165 + 126948 + 123940 = ₽526,294 Mil.
Gross Profit was 86018 + 84511 + 80427 + 76916 = ₽327,872 Mil.
Total Current Assets was ₽263,300 Mil.
Total Assets was ₽1,015,818 Mil.
Property, Plant and Equipment(Net PPE) was ₽443,593 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽111,088 Mil.
Selling, General, & Admin. Expense(SGA) was ₽92,366 Mil.
Total Current Liabilities was ₽473,420 Mil.
Long-Term Debt & Capital Lease Obligation was ₽486,100 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) |
| = | (42021 / 399340) | / | (31356 / 526294) |
| = | 0.105226 | / | 0.059579 |
| | = | 1.7662 |
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) |
| = | (327872 / 526294) | / | (257047 / 399340) |
| = | 0.622983 | / | 0.64368 |
| | = | 0.9678 |
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 - (285312 + 428358) / 1086721) | / | (1 - (263300 + 443593) / 1015818) |
| = | 0.343281 | / | 0.304115 |
| | = | 1.1288 |
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 |
| = | 399340 | / | 526294 |
| | = | 0.7588 |
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)) |
| = | (111088 / (111088 + 443593)) | / | (87374 / (87374 + 428358)) |
| = | 0.200274 | / | 0.169417 |
| | = | 1.1821 |
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) |
| = | (81534 / 399340) | / | (92366 / 526294) |
| = | 0.204172 | / | 0.175503 |
| | = | 1.1634 |
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) |
| = | ((462271 + 572985) / 1086721) | / | ((486100 + 473420) / 1015818) |
| = | 0.952642 | / | 0.944579 |
| | = | 1.0085 |
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 |
| = | (27498 - 7562 | - | 82295) | / | 1086721 |
| | = | -0.057383 |
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.
Mobile TeleSystems PJSC has a M-score of -2.23 suggests that the company is unlikely to be a manipulator.
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