Gazprom gazoraspredelenie Rostov-na-Donu PAO Beneish M-Score Historical Data
The historical data trend for Gazprom gazoraspredelenie Rostov-na-Donu PAO'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.
Gazprom gazoraspredelenie Rostov-na-Donu PAO Beneish M-Score Chart
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Gazprom gazoraspredelenie Rostov-na-Donu PAO Annual Data
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Dec14 |
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Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-3.00 |
-1.84 |
-2.73 |
-2.77 |
-2.89 |
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Gazprom gazoraspredelenie Rostov-na-Donu PAO Quarterly Data
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Dec23 |
| Beneish M-Score |
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-2.77 |
0.00 |
0.00 |
0.00 |
-2.89 |
MIC:RTGZ vs ATO, NI: Beneish M-Score Comparison
For the Utilities - Regulated Gas subindustry, Gazprom gazoraspredelenie Rostov-na-Donu PAO'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.
Gazprom gazoraspredelenie Rostov-na-Donu PAO Beneish M-Score vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Gazprom gazoraspredelenie Rostov-na-Donu PAO's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Gazprom gazoraspredelenie Rostov-na-Donu PAO's Beneish M-Score falls into.
Gazprom gazoraspredelenie Rostov-na-Donu PAO 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 Gazprom gazoraspredelenie Rostov-na-Donu PAO 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 * 1.0124 | + | 0.528 * 0.8981 | + | 0.404 * 0.0452 | + | 0.892 * 1.2711 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8837 | + | 4.679 * -0.040108 | - | 0.327 * 1.1698 |
| = | -2.89 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was ₽2,485 Mil.
Revenue was ₽12,664 Mil.
Gross Profit was ₽5,268 Mil.
Total Current Assets was ₽3,473 Mil.
Total Assets was ₽38,229 Mil.
Property, Plant and Equipment(Net PPE) was ₽34,636 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽0 Mil.
Selling, General, & Admin. Expense(SGA) was ₽1,676 Mil.
Total Current Liabilities was ₽3,469 Mil.
Long-Term Debt & Capital Lease Obligation was ₽5,761 Mil.
Net Income was ₽2,259 Mil.
Gross Profit was ₽0 Mil.
Cash Flow from Operations was ₽3,792 Mil.
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Total Receivables was ₽1,931 Mil.
Revenue was ₽9,963 Mil.
Gross Profit was ₽3,722 Mil.
Total Current Assets was ₽2,272 Mil.
Total Assets was ₽32,793 Mil.
Property, Plant and Equipment(Net PPE) was ₽28,240 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽84 Mil.
Selling, General, & Admin. Expense(SGA) was ₽1,492 Mil.
Total Current Liabilities was ₽6,497 Mil.
Long-Term Debt & Capital Lease Obligation was ₽272 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) |
| = | (2484.711 / 12664.083) | / | (1930.827 / 9963.165) |
| = | 0.196201 | / | 0.193797 |
| | = | 1.0124 |
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) |
| = | (3722.325 / 9963.165) | / | (5268.296 / 12664.083) |
| = | 0.373609 | / | 0.416003 |
| | = | 0.8981 |
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 - (3472.846 + 34636.132) / 38229.212) | / | (1 - (2272.025 + 28240.197) / 32793.257) |
| = | 0.003145 | / | 0.069558 |
| | = | 0.0452 |
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 |
| = | 12664.083 | / | 9963.165 |
| | = | 1.2711 |
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)) |
| = | (83.556 / (83.556 + 28240.197)) | / | (0 / (0 + 34636.132)) |
| = | 0.00295 | / | 0 |
| | = | 1 |
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) |
| = | (1676.282 / 12664.083) | / | (1492.297 / 9963.165) |
| = | 0.132365 | / | 0.149781 |
| | = | 0.8837 |
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) |
| = | ((5760.991 + 3469.074) / 38229.212) | / | ((271.549 + 6496.672) / 32793.257) |
| = | 0.24144 | / | 0.206391 |
| | = | 1.1698 |
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 |
| = | (2258.91 - 0 | - | 3792.209) | / | 38229.212 |
| | = | -0.040108 |
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.
Gazprom gazoraspredelenie Rostov-na-Donu PAO has a M-score of -2.89 suggests that the company is unlikely to be a manipulator.
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