Catella AB Beneish M-Score Historical Data
The historical data trend for Catella AB'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.
Catella AB Beneish M-Score Chart
|
Catella AB Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
0.03 |
-2.98 |
-0.21 |
-1.80 |
-1.99 |
|
Catella AB Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.55 |
-2.35 |
-1.94 |
-1.99 |
-2.24 |
Competitive Comparison of Catella AB's Beneish M-Score
For the Asset Management subindustry, Catella AB'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.
Catella AB's Beneish M-Score Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, Catella AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Catella AB's Beneish M-Score falls into.
Catella AB 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 Catella AB 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 * 0.9015 | + | 0.528 * 1.1036 | + | 0.404 * 1.3173 | + | 0.892 * 0.9312 | + | 0.115 * 1.0993 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0 | + | 4.679 * 0.009882 | - | 0.327 * 1.0557 |
| = | -2.24 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was kr680 Mil.
Revenue was 420 + 1072 + 393 + 483 = kr2,368 Mil.
Gross Profit was 118 + 1006 + 8 + 261 = kr1,393 Mil.
Total Current Assets was kr4,208 Mil.
Total Assets was kr5,869 Mil.
Property, Plant and Equipment(Net PPE) was kr34 Mil.
Depreciation, Depletion and Amortization(DDA) was kr73 Mil.
Selling, General, & Admin. Expense(SGA) was kr0 Mil.
Total Current Liabilities was kr1,923 Mil.
Long-Term Debt & Capital Lease Obligation was kr1,651 Mil.
Net Income was 26 + -75 + -22 + 84 = kr13 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0 Mil.
Cash Flow from Operations was 25 + -87 + -139 + 156 = kr-45 Mil.
|
Total Receivables was kr810 Mil.
Revenue was 367 + 1131 + 404 + 641 = kr2,543 Mil.
Gross Profit was 27 + 1152 + 89 + 383 = kr1,651 Mil.
Total Current Assets was kr4,800 Mil.
Total Assets was kr6,111 Mil.
Property, Plant and Equipment(Net PPE) was kr25 Mil.
Depreciation, Depletion and Amortization(DDA) was kr75 Mil.
Selling, General, & Admin. Expense(SGA) was kr285 Mil.
Total Current Liabilities was kr1,038 Mil.
Long-Term Debt & Capital Lease Obligation was kr2,487 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) |
| = | (680 / 2368) | / | (810 / 2543) |
| = | 0.287162 | / | 0.318521 |
| | = | 0.9015 |
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) |
| = | (1651 / 2543) | / | (1393 / 2368) |
| = | 0.649233 | / | 0.58826 |
| | = | 1.1036 |
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 - (4208 + 34) / 5869) | / | (1 - (4800 + 25) / 6111) |
| = | 0.277219 | / | 0.21044 |
| | = | 1.3173 |
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 |
| = | 2368 | / | 2543 |
| | = | 0.9312 |
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)) |
| = | (75 / (75 + 25)) | / | (73 / (73 + 34)) |
| = | 0.75 | / | 0.682243 |
| | = | 1.0993 |
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 / 2368) | / | (285 / 2543) |
| = | 0 | / | 0.112072 |
| | = | 0 |
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) |
| = | ((1651 + 1923) / 5869) | / | ((2487 + 1038) / 6111) |
| = | 0.608962 | / | 0.576829 |
| | = | 1.0557 |
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 |
| = | (13 - 0 | - | -45) | / | 5869 |
| | = | 0.009882 |
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.
Catella AB has a M-score of -2.24 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
OSTO:CAT A has been successfully added to your