>
Switch to:

Mongolia Growth Group Beneish M-Score

: 2.46 (As of Today)
View and export this data going back to 2011. Start your Free Trial

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.

Warning Sign:

Beneish M-Score 2.46 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Mongolia Growth Group's Beneish M-Score or its related term are showing as below:

OTCPK:MNGGF' s Beneish M-Score Range Over the Past 10 Years
Min: -10000000   Med: -2.64   Max: 16.63
Current: 2.46

-10000000
16.63

During the past 13 years, the highest Beneish M-Score of Mongolia Growth Group was 16.63. The lowest was -10000000.00. And the median was -2.64.


Mongolia Growth Group Beneish M-Score Historical Data

The historical data trend for Mongolia Growth Group'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.

* Premium members only.

Mongolia Growth Group Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.76 -2.10 -2.68 16.63 -3.62

Mongolia Growth Group Quarterly Data
Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21
Beneish M-Score Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -0.16 8.96 -3.62 -2.98 2.46

Competitive Comparison

For the Real Estate Services subindustry, Mongolia Growth Group'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.

   

Mongolia Growth Group Beneish M-Score Distribution

For the Real Estate industry and Real Estate sector, Mongolia Growth Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Mongolia Growth Group's Beneish M-Score falls into.



Mongolia Growth Group 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 Mongolia Growth Group 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 * 7.458+0.528 * 0.9513+0.404 * 0.4939+0.892 * 1.1923+0.115 * 1.0281
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.8177+4.679 * 0.0074-0.327 * 2.9226
=2.84

* 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 (Jun21) TTM:Last Year (Jun20) TTM:
Accounts Receivable was $1.08 Mil.
Revenue was 0.14648117839607 + 0.19890206062535 + 0.14286829572957 + 0.24565381708239 = $0.73 Mil.
Gross Profit was 0.13011456628478 + 0.18139867929032 + 0.12881567647748 + 0.2312925170068 = $0.67 Mil.
Total Current Assets was $19.59 Mil.
Total Assets was $31.87 Mil.
Property, Plant and Equipment(Net PPE) was $1.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.05 Mil.
Selling, General, & Admin. Expense(SGA) was $1.46 Mil.
Total Current Liabilities was $2.64 Mil.
Long-Term Debt & Capital Lease Obligation was $0.05 Mil.
Net Income was 3.0744680851064 + 4.865144402896 + 4.1041455226794 + 0.79213907785336 = $12.84 Mil.
Non Operating Income was 3.4206219312602 + 5.0783674118864 + 4.4039347333906 + 0.8994708994709 = $13.80 Mil.
Cash Flow from Operations was -0.41980360065466 + -0.40337337894821 + -0.23733312514638 + -0.140589569161 = $-1.20 Mil.
Accounts Receivable was $0.12 Mil.
Revenue was 0.1461038961039 + 0.16117478510029 + 0.022780773027565 + 0.28547692772449 = $0.62 Mil.
Gross Profit was 0.13872491145218 + 0.13968481375358 + -0.0098716683119447 + 0.26735140850389 = $0.54 Mil.
Total Current Assets was $3.89 Mil.
Total Assets was $17.29 Mil.
Property, Plant and Equipment(Net PPE) was $1.01 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.05 Mil.
Selling, General, & Admin. Expense(SGA) was $1.50 Mil.
Total Current Liabilities was $0.50 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Accounts Receivable 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)
=(1.082651391162 / 0.73390535183337) / (0.12175324675325 / 0.61553638195624)
=1.47519212 / 0.19780024
=7.458

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)
=(0.53588946539771 / 0.61553638195624) / (0.67162143905938 / 0.73390535183337)
=0.87060567 / 0.91513359
=0.9513

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 - (19.585924713584 + 1.0049099836334) / 31.874795417349) / (1 - (3.8902007083825 + 1.0064935064935) / 17.286747343566)
=0.35400888 / 0.7167371
=0.4939

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
=0.73390535183337 / 0.61553638195624
=1.1923

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))
=(0.052722426034872 / (0.052722426034872 + 1.0064935064935)) / (0.051126193424176 / (0.051126193424176 + 1.0049099836334))
=0.04977496 / 0.0484133
=1.0281

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)
=(1.462155605059 / 0.73390535183337) / (1.4997813601424 / 0.61553638195624)
=1.99229451 / 2.43654381
=0.8177

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)
=((0.049099836333879 + 2.6350245499182) / 31.874795417349) / ((0 + 0.49808146399055) / 17.286747343566)
=0.08420836 / 0.02881291
=2.9226

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
=(12.835897088535 - 13.802394976008 - -1.2010996739102) / 31.874795417349
=0.0074

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.

Mongolia Growth Group has a M-score of 2.84 signals that the company is likely to be a manipulator.


Mongolia Growth Group Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Mongolia Growth Group's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


Mongolia Growth Group Business Description

Mongolia Growth Group logo
Industry
Real Estate » Real Estate NAICS : 531390 SIC : 7599
Traded in Other Exchanges
Address
100 King Street West, 56th Floor Suite 5600, First Canadian Place, Toronto, ON, CAN, M5X 1C9
Mongolia Growth Group Ltd is a real estate investment and development company. It owns commercial investment property assets in Ulaanbaatar, Mongolia. The company operates through two segments: Investment Property Operations and Corporate. The Investment Property operations consist of commercial and residential investment property in Mongolia held for the purposes of rental revenue, capital appreciation or redevelopment.
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)