Colruyt Group NV Beneish M-Score Historical Data
The historical data trend for Colruyt Group NV'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.
|
Colruyt Group NV Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
|
|
|
|
|
-2.69 |
-2.87 |
-2.74 |
-2.59 |
-2.89 |
|
Colruyt Group NV Semi-Annual Data
|
|
Mar14 |
Sep14 |
Mar15 |
Sep15 |
Mar16 |
Sep16 |
Mar17 |
Sep17 |
Mar18 |
Sep18 |
Mar19 |
Sep19 |
Mar20 |
Sep20 |
Mar21 |
Sep21 |
Mar22 |
Sep22 |
Mar23 |
Sep23 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
-2.59 |
- |
-2.89 |
- |
Competitive Comparison
For the Grocery Stores subindustry, Colruyt Group NV'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.
Colruyt Group NV Beneish M-Score Distribution
For the Retail - Defensive industry and Consumer Defensive sector, Colruyt Group NV's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Colruyt Group NV's Beneish M-Score falls into.
Colruyt Group NV 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 Colruyt Group NV 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 * 0.8451 | + | 0.528 * 1.0157 | + | 0.404 * 1.1747 | + | 0.892 * 1.0439 | + | 0.115 * 0.9321 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9635 | + | 4.679 * -0.082 | - | 0.327 * 1.0723 |
| = | -2.91 |
* 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 (Mar22) TTM: |
Total Receivables was $612 Mil.
Revenue was $10,636 Mil.
Gross Profit was $3,061 Mil.
Total Current Assets was $2,144 Mil.
Total Assets was $6,582 Mil.
Property, Plant and Equipment(Net PPE) was $3,020 Mil.
Depreciation, Depletion and Amortization(DDA) was $436 Mil.
Selling, General, & Admin. Expense(SGA) was $112 Mil.
Total Current Liabilities was $2,755 Mil.
Long-Term Debt & Capital Lease Obligation was $937 Mil.
Net Income was $215 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $754 Mil.
|
Total Receivables was $694 Mil.
Revenue was $10,188 Mil.
Gross Profit was $2,979 Mil.
Total Current Assets was $2,025 Mil.
Total Assets was $6,182 Mil.
Property, Plant and Equipment(Net PPE) was $3,023 Mil.
Depreciation, Depletion and Amortization(DDA) was $402 Mil.
Selling, General, & Admin. Expense(SGA) was $112 Mil.
Total Current Liabilities was $2,518 Mil.
Long-Term Debt & Capital Lease Obligation was $717 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) |
| = | (612.099 / 10635.546) | / | (693.833 / 10188.436) |
| = | 0.057552 | / | 0.0681 |
| | = | 0.8451 |
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) |
| = | (2978.744 / 10188.436) | / | (3061.456 / 10635.546) |
| = | 0.292365 | / | 0.287851 |
| | = | 1.0157 |
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 - (2143.897 + 3020.128) / 6582.013) | / | (1 - (2025.441 + 3023.128) / 6182.379) |
| = | 0.215434 | / | 0.183394 |
| | = | 1.1747 |
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 |
| = | 10635.546 | / | 10188.436 |
| | = | 1.0439 |
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)) |
| = | (402.423 / (402.423 + 3023.128)) | / | (435.546 / (435.546 + 3020.128)) |
| = | 0.117477 | / | 0.126038 |
| | = | 0.9321 |
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) |
| = | (112.206 / 10635.546) | / | (111.564 / 10188.436) |
| = | 0.01055 | / | 0.01095 |
| | = | 0.9635 |
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) |
| = | ((937.473 + 2755.46) / 6582.013) | / | ((716.63 + 2518.282) / 6182.379) |
| = | 0.561064 | / | 0.523247 |
| | = | 1.0723 |
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 |
| = | (214.775 - 0 | - | 754.497) | / | 6582.013 |
| | = | -0.082 |
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.
Colruyt Group NV has a M-score of -2.91 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CUYTY has been successfully added to your