Strauss Group (Strauss Group) Beneish M-Score : -2.54 (As of May. 01, 2024)

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What is Strauss Group 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 -2.54 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

SGLJY' s Beneish M-Score Range Over the Past 10 Years
Min: -2.78 Med: -2.54 Max: -2.46
Current: -2.54

During the past 13 years, the highest Beneish M-Score of Strauss Group was -2.46. The lowest was -2.78. And the median was -2.54.

Strauss Group Beneish M-Score Historical Data

The historical data trend for Strauss 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.

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Strauss Group Beneish M-Score Chart

Strauss Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.61

-2.53

-2.64

-2.54

Strauss Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-2.54	-2.29	-2.26	-2.37	-2.54

Competitive Comparison of Strauss Group's Beneish M-Score

For the Packaged Foods subindustry, Strauss 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.

Strauss Group's Beneish M-Score Distribution in the Consumer Packaged Goods Industry

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

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

Strauss 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 Strauss Group 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 * 0.9496

0.528 * 0.9003

0.404 * 1.0326

0.892 * 1.113

0.115 * 0.9833

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8807

4.679 * -0.024235

0.327 * 0.925

-2.54

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $268.21 Mil.
Revenue was 455.926 + 466.889 + 436.138 + 458.065 = $1,817.02 Mil.
Gross Profit was 164.989 + 154.828 + 156.967 + 176.487 = $653.27 Mil.
Total Current Assets was $678.94 Mil.
Total Assets was $2,184.70 Mil.
Property, Plant and Equipment(Net PPE) was $699.80 Mil.
Depreciation, Depletion and Amortization(DDA) was $87.98 Mil.
Selling, General, & Admin. Expense(SGA) was $172.48 Mil.
Total Current Liabilities was $667.71 Mil.
Long-Term Debt & Capital Lease Obligation was $571.71 Mil.
Net Income was 27.81 + 21.392 + 19.521 + 61.771 = $130.49 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 125.948 + 56.422 + 15.777 + -14.707 = $183.44 Mil.

Total Receivables was $253.77 Mil.
Revenue was 418.489 + 429.987 + 379.983 + 404.049 = $1,632.51 Mil.
Gross Profit was 129.157 + 142.26 + 134.237 + 122.739 = $528.39 Mil.
Total Current Assets was $662.63 Mil.
Total Assets was $1,982.01 Mil.
Property, Plant and Equipment(Net PPE) was $611.29 Mil.
Depreciation, Depletion and Amortization(DDA) was $75.41 Mil.
Selling, General, & Admin. Expense(SGA) was $175.95 Mil.
Total Current Liabilities was $750.34 Mil.
Long-Term Debt & Capital Lease Obligation was $465.29 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)
	=	(268.207 / 1817.018)	/	(253.767 / 1632.508)
	=	0.147608	/	0.155446
	=	0.9496

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)
	=	(528.393 / 1632.508)	/	(653.271 / 1817.018)
	=	0.323669	/	0.359529
	=	0.9003

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 - (678.942 + 699.799) / 2184.7)	/	(1 - (662.63 + 611.288) / 1982.007)
	=	0.368911	/	0.357259
	=	1.0326

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
	=	1817.018	/	1632.508
	=	1.113

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))
	=	(75.408 / (75.408 + 611.288))	/	(87.976 / (87.976 + 699.799))
	=	0.109813	/	0.111677
	=	0.9833

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)
	=	(172.477 / 1817.018)	/	(175.953 / 1632.508)
	=	0.094923	/	0.107781
	=	0.8807

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)
	=	((571.712 + 667.711) / 2184.7)	/	((465.285 + 750.339) / 1982.007)
	=	0.56732	/	0.61333
	=	0.925

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
	=	(130.494 - 0	-	183.44)	/	2184.7
	=	-0.024235

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.

Strauss Group has a M-score of -2.54 suggests that the company is unlikely to be a manipulator.

Strauss Group Beneish M-Score Related Terms

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Strauss Group (Strauss Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Strauss Group Ltd (GREY:SGLJY) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

STRS:Israel

Address

49 Hasivim Street, Kiryat Matalon, P.O. Box 194, Petach Tikva, ISR, 4959504

Website

https://www.strauss-group.com

Strauss Group Ltd is a food and beverage company that holds a portfolio of companies including Strauss Coffee B.V., which produces coffee, teas, and other complementary products, and provides coffee services to hotels, restaurants, cafes, and working places; Strauss Israel, which offers a variety of products such as dairies, snacks, and drinks to Israel food market; Strauss Water, which specializes in drinking water solutions; and PepsiCo-Strauss Fresh Dips and Spreads, which supplies vegetarian dips and fresh foods. Its geographical segments are Israel, and Europe and the Rest of the World, of which the company generates most of its revenue from Israel.