Brookfield Global Listed Infrastructureome Fun (Brookfield Global Listed Infrastructureome Fun) Beneish M-Score : 0.00 (As of May. 05, 2024)

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What is Brookfield Global Listed Infrastructureome Fun Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Brookfield Global Listed Infrastructureome Fun's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Brookfield Global Listed Infrastructureome Fun was 0.00. The lowest was 0.00. And the median was 0.00.

Brookfield Global Listed Infrastructureome Fun 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 Brookfield Global Listed Infrastructureome Fun for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

* 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 (Dec19) TTM:

Last Year (Dec18) TTM:

Total Receivables was $0.96 Mil.
Revenue was $59.62 Mil.
Gross Profit was $59.62 Mil.
Total Current Assets was $0.96 Mil.
Total Assets was $281.11 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.89 Mil.
Total Current Liabilities was $0.44 Mil.
Long-Term Debt & Capital Lease Obligation was $71.00 Mil.
Net Income was $58.71 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $13.22 Mil.

Total Receivables was $0.97 Mil.
Revenue was $-21.79 Mil.
Gross Profit was $-21.79 Mil.
Total Current Assets was $0.97 Mil.
Total Assets was $235.51 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.91 Mil.
Total Current Liabilities was $0.29 Mil.
Long-Term Debt & Capital Lease Obligation was $71.00 Mil.

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)
	=	(0.955 / 59.62)	/	(0.968 / -21.789)
	=	0.016018	/
	=

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)
	=	(-21.789 / -21.789)	/	(59.62 / 59.62)
	=		/	1
	=

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 - (0.955 + 0) / 281.109)	/	(1 - (0.968 + 0) / 235.509)
	=	0.996603	/	0.99589
	=

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
	=	59.62	/	-21.789
	=

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))
	=	(0 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(0.887 / 59.62)	/	(0.909 / -21.789)
	=	0.014878	/
	=

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)
	=	((71 + 0.437) / 281.109)	/	((71 + 0.285) / 235.509)
	=	0.254126	/	0.302685
	=

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
	=	(58.707 - 0	-	13.219)	/	281.109
	=	0.161816

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.

Brookfield Global Listed Infrastructureome Fun Beneish M-Score Related Terms

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Brookfield Global Listed Infrastructureome Fun (Brookfield Global Listed Infrastructureome Fun) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Brookfield Global Listed Infrastructure Income Fun (NYSE:INF) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

250 Vesey Street, 15th Floor, New York, NY, USA, 10281-1023

Website

https://www.brookfield.com

Brookfield Global Listed Infrastructure Income Fund Inc. is a closed-end management investment company. Its investment objective is to provide a high level of total return, with an emphasis on income. The fund seeks to achieve its investment objective by investing primarily in securities of publicly traded infrastructure companies. It invests in various sectors, such as electric utilities and generation, telecommunications, electricity transmission and distribution, airports, gas utilities, communications, and others.

Executives

Brookfield Investment Management Inc.	other: Fund's Investment Adviser	BROOKFIELD PLACE, 225 LIBERTY STREET, 43RD FLOOR, NEW YORK NY 10281
Mohamed Rasul	officer: Fund's Assistant Treasurer	BROOKFIELD PUBLIC SECURITIES GROUP LLC, BROOKFIELD PLACE, 250 VESEY ST., 15TH FL, NEW YORK NY 10281
Casey Tushaus	officer: Fund's Assistant Treasurer	BROOKFIELD PUBLIC SECURITIES GROUP LLC, BROOKFIELD PLACE, 250 VESEY ST., 15TH FL, NEW YORK NY 10281
Brian Thomas Hourihan	other: Adviser's CCO	BROOKFIELD INVESTMENT MANAGEMENT INC., BROOKFIELD PLACE, 250 VESEY ST., 15TH FL, NEW YORK NY 10281
Thomas Doyle Peeney	officer: Secretary	BROOKFIELD INVESTMENT MANAGEMENT INC., BROOKFIELD PLACE, 250 VESEY ST., 15TH FL, NEW YORK NY 10281
Adam Ross Sachs	officer: CCO	BROOKFIELD PUBLIC SECURITIES GROUP LLC, BROOKFIELD PLACE, 250 VESEY STREET, 15TH, NEW YORK NY 10281
Heather S. Goldman	director	C/O BROOKFIELD INVESTMENT MANAGEMENT INC, BROOKFIELD PLACE, 250 VESEY STREET, 15FL, NEW YORK NY 10281-1023
Thomas Shawn Miller	other: Portfolio Manager	C/O BROOKFIELD INVESTMENT MANAGEMENT INC, BROOKFIELD PLACE, 250 VESEY ST., 15TH FL, NEW YORK NY 10281-1023
David William Levi	director, other: Investment Adviser's President	BROOKFIELD PUBLIC SECURITIES GROUP LLC, BROOKFIELD PLACE, 250 VESEY ST., 15TH FL, NEW YORK NY 10281-1023
Seth Gelman	officer: CCO, other: CCO of Adviser	C/O INSIGHT INVESTMENT, 200 PARK AVENUE, 7TH FLOOR, NEW YORK NY 10166
Leonardo Anguiano	other: Portfolio Manager	BROOKFIELD INVESTMENT MANAGEMENT INC, BROOKFIELD PLACE, 250 VESEY STREET, 15TH, NEW YORK NY 10281-1023
Andrew Charles Alexander	other: Co-Portfolio Manager	BROOKFIELD INVEST MANAGEMENT INC, BROOKFIELD PLACE, 250 VESEY ST., 15TH FL, NEW YORK NY 102811023
Brian Hurley	officer: President	BROOKFIELD INVESTMENT MANAGEMENT INC., BROOKFIELD PLACE, 250 VESEY STREET, 15TH, NEW YORK NY 10281-1023
Alexis I Rieger	officer: Secretary	C/O BROOKFIELD INVESTMENT MANAGAMNET INC, BROOKFIELD PLACE, 250 VESEY ST., 15TH FL, NEW YORK NY 10281-1023
Kim G. Redding	director, officer: President	C/O BROOKFIELD INVESTMENT MANAGEMENT INC, BROOKFIELD PLACE, 250 VESEY ST, 15TH FL, NEW YORK NY 10281-1023