Sumou Real Estate Co (SAU:4323) Beneish M-Score : -2.07 (As of Mar. 28, 2025)

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What is Sumou Real Estate Co Beneish M-Score?

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 -2.07 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Sumou Real Estate Co's Beneish M-Score or its related term are showing as below:

SAU:4323' s Beneish M-Score Range Over the Past 10 Years
Min: -2.34 Med: -2.07 Max: -2.06
Current: -2.07

During the past 5 years, the highest Beneish M-Score of Sumou Real Estate Co was -2.06. The lowest was -2.34. And the median was -2.07.

Sumou Real Estate Co Beneish M-Score Historical Data

The historical data trend for Sumou Real Estate Co'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.

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Sumou Real Estate Co Beneish M-Score Chart

Sumou Real Estate Co Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-2.34

Sumou Real Estate Co Quarterly Data
	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial											-	-2.34	-	-2.06	-2.07

Competitive Comparison of Sumou Real Estate Co's Beneish M-Score

For the Real Estate - Development subindustry, Sumou Real Estate Co'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.

Sumou Real Estate Co's Beneish M-Score Distribution in the Real Estate Industry

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

* The bar in red indicates where Sumou Real Estate Co's Beneish M-Score falls into.

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Sumou Real Estate Co 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 Sumou Real Estate Co 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 * 0.8494

0.528 * 1.5159

0.404 * 1.0028

0.892 * 1.5235

0.115 * 0.7545

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.5815

4.679 * -0.046893

0.327 * 1.0524

-2.07

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was ﷼177.0 Mil.
Revenue was 109.334 + 127.326 + 80.966 + 79.553 = ﷼397.2 Mil.
Gross Profit was 32.629 + 29.776 + 21.53 + 25.494 = ﷼109.4 Mil.
Total Current Assets was ﷼461.3 Mil.
Total Assets was ﷼1,176.2 Mil.
Property, Plant and Equipment(Net PPE) was ﷼22.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼2.3 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼8.4 Mil.
Total Current Liabilities was ﷼403.7 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼18.2 Mil.
Net Income was 29.777 + 34.384 + 19.114 + 24.776 = ﷼108.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ﷼0.0 Mil.
Cash Flow from Operations was 47.792 + 10.002 + 45.075 + 60.336 = ﷼163.2 Mil.

Total Receivables was ﷼136.7 Mil.
Revenue was 74.566 + 66.968 + 52.731 + 66.435 = ﷼260.7 Mil.
Gross Profit was 34.814 + 43.052 + 12.692 + 18.327 = ﷼108.9 Mil.
Total Current Assets was ﷼319.1 Mil.
Total Assets was ﷼825.6 Mil.
Property, Plant and Equipment(Net PPE) was ﷼21.7 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼1.7 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼9.5 Mil.
Total Current Liabilities was ﷼262.9 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼18.5 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)
	=	(176.962 / 397.179)	/	(136.749 / 260.7)
	=	0.445547	/	0.524545
	=	0.8494

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)
	=	(108.885 / 260.7)	/	(109.429 / 397.179)
	=	0.417664	/	0.275516
	=	1.5159

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 - (461.342 + 22.26) / 1176.162)	/	(1 - (319.119 + 21.672) / 825.585)
	=	0.58883	/	0.587213
	=	1.0028

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
	=	397.179	/	260.7
	=	1.5235

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))
	=	(1.661 / (1.661 + 21.672))	/	(2.319 / (2.319 + 22.26))
	=	0.071187	/	0.094349
	=	0.7545

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)
	=	(8.377 / 397.179)	/	(9.456 / 260.7)
	=	0.021091	/	0.036272
	=	0.5815

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)
	=	((18.179 + 403.721) / 1176.162)	/	((18.546 + 262.859) / 825.585)
	=	0.358709	/	0.340855
	=	1.0524

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
	=	(108.051 - 0	-	163.205)	/	1176.162
	=	-0.046893

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.

Sumou Real Estate Co has a M-score of -2.07 suggests that the company is unlikely to be a manipulator.

Sumou Real Estate Co Beneish M-Score Related Terms

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Sumou Real Estate Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Sumou Real Estate Co (SAU:4323) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Prince Turki bin Abdulaziz street, Sumou Tower - P.O.Box 250, Al-Yarmouk District, AlKhobar, SAU, 31952

Website

https://www.sumou.com.sa

Sumou Real Estate Co engaged in representing in the general construction of residential buildings, the general construction of non-residential buildings, including (schools, hospitals, hotels, etc.) construction of airports and their facilities, construction of prefabricated buildings, on-site, renovations, of residential and non-residential buildings, purchase and sale of land and real estate and its division, and off plan sale activities.

Sumou Real Estate Co Headlines

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