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Origin Enterprises Beneish M-Score

: -2.50 (As of Today)
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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.

Good Sign:

Beneish M-Score -2.5 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

OTCPK:ORENF' s Beneish M-Score Range Over the Past 10 Years
Min: -3.12   Med: -2.47   Max: -1.24
Current: -2.5

-3.12
-1.24

During the past 13 years, the highest Beneish M-Score of Origin Enterprises was -1.24. The lowest was -3.12. And the median was -2.47.


Origin Enterprises Beneish M-Score Historical Data

The historical data trend for Origin Enterprises'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.

Origin Enterprises Annual Data
Trend Jul12 Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 Jul20 Jul21
Beneish M-Score
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.44 -2.34 -2.38 -2.97 -2.50

Origin Enterprises Semi-Annual Data
Jan12 Jul12 Jan13 Jul13 Jan14 Jul14 Jan15 Jul15 Jan16 Jul16 Jan17 Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21
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 -2.38 - -2.97 - -2.50

Competitive Comparison

For the Farm Products subindustry, Origin Enterprises'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.

   

Origin Enterprises Beneish M-Score Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, Origin Enterprises's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Origin Enterprises's Beneish M-Score falls into.



Origin Enterprises 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 Origin Enterprises 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 * 1.0099+0.528 * 0.9762+0.404 * 1.0141+0.892 * 1.0732+0.115 * 0.9975
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.9527+4.679 * -0.0182-0.327 * 0.9653
=-2.48

* 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 (Jul21) TTM:Last Year (Jul20) TTM:
Accounts Receivable was $451 Mil.
Revenue was $1,960 Mil.
Gross Profit was $290 Mil.
Total Current Assets was $995 Mil.
Total Assets was $1,534 Mil.
Property, Plant and Equipment(Net PPE) was $177 Mil.
Depreciation, Depletion and Amortization(DDA) was $37 Mil.
Selling, General, & Admin. Expense(SGA) was $218 Mil.
Total Current Liabilities was $843 Mil.
Long-Term Debt & Capital Lease Obligation was $209 Mil.
Net Income was $45 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $73 Mil.
Accounts Receivable was $416 Mil.
Revenue was $1,827 Mil.
Gross Profit was $264 Mil.
Total Current Assets was $916 Mil.
Total Assets was $1,417 Mil.
Property, Plant and Equipment(Net PPE) was $171 Mil.
Depreciation, Depletion and Amortization(DDA) was $36 Mil.
Selling, General, & Admin. Expense(SGA) was $213 Mil.
Total Current Liabilities was $733 Mil.
Long-Term Debt & Capital Lease Obligation was $273 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)
=(451.0756501182 / 1960.2446808511) / (416.21609195402 / 1826.6)
=0.23011191 / 0.22786384
=1.0099

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)
=(263.90229885057 / 1826.6) / (290.10756501182 / 1960.2446808511)
=0.14447733 / 0.14799559
=0.9762

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 - (995.17612293144 + 176.95626477541) / 1534.0295508274) / (1 - (915.5183908046 + 171.47931034483) / 1416.5195402299)
=0.23591277 / 0.23262781
=1.0141

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
=1960.2446808511 / 1826.6
=1.0732

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))
=(35.688505747126 / (35.688505747126 + 171.47931034483)) / (36.939716312057 / (36.939716312057 + 176.95626477541))
=0.17226858 / 0.17269944
=0.9975

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)
=(217.99527186761 / 1960.2446808511) / (213.21379310345 / 1826.6)
=0.11120819 / 0.11672714
=0.9527

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)
=((208.52245862884 + 843.1524822695) / 1534.0295508274) / ((273.3908045977 + 732.67471264368) / 1416.5195402299)
=0.68556368 / 0.71023766
=0.9653

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
=(45.191489361702 - 0 - 73.152482269504) / 1534.0295508274
=-0.0182

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.

Origin Enterprises has a M-score of -2.48 suggests that the company is unlikely to be a manipulator.


Origin Enterprises Beneish M-Score Related Terms

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Origin Enterprises Business Description

Origin Enterprises logo
Industry
Traded in Other Exchanges
Address
4-6 Riverwalk, Citywest Business Campus, Dublin, IRL, 24
Origin Enterprises PLC is an agri-service business with operations throughout Europe. It provides technologies and strategic products to support food production systems for primary food producers. The company acts as an advisor for varietal selection, nutrition, crop protection, and other techniques to improve crop performance. Fertilizers, animal feed, seeds, and other agricultural supplements are sold to enhance farming productivity. It delivers products to farms from local distribution centers, and agronomists study the timing of applications to achieve the best results for customers. Farm visitations happen throughout each year, and soil and tissue analysis is conducted to either stop deficiencies or prevent future occurrences.

Origin Enterprises Headlines

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