Samko Timber (SGX:E6R) Beneish M-Score : 0.00 (As of Apr. 05, 2025)

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What is Samko Timber 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.

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

During the past 13 years, the highest Beneish M-Score of Samko Timber was -1.41. The lowest was -3.55. And the median was -2.24.

Samko Timber Beneish M-Score Historical Data

The historical data trend for Samko Timber'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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Samko Timber Beneish M-Score Chart

Samko Timber Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-1.41

Samko Timber Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Sep23	Dec23	Jun24	Sep24	Dec24
Beneish M-Score	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Samko Timber's Beneish M-Score

For the Lumber & Wood Production subindustry, Samko Timber'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.

Samko Timber's Beneish M-Score Distribution in the Forest Products Industry

For the Forest Products industry and Basic Materials sector, Samko Timber's Beneish M-Score distribution charts can be found below:

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

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Samko Timber 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 Samko Timber 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Dec24) TTM:

Last Year (Sep23) TTM:

Total Receivables was S$0.00 Mil.
Revenue was 0 + 50.993 + 0 + 0 = S$50.99 Mil.
Gross Profit was 0 + -5.504 + 0 + 0 = S$-5.50 Mil.
Total Current Assets was S$410.29 Mil.
Total Assets was S$410.30 Mil.
Property, Plant and Equipment(Net PPE) was S$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was S$10.19 Mil.
Total Current Liabilities was S$537.27 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.00 Mil.
Net Income was -33.958 + -11.588 + 0 + -19.193 = S$-64.74 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = S$0.00 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = S$0.00 Mil.

Total Receivables was S$0.00 Mil.
Revenue was 45.024 + 0 + 0 + 0 = S$45.02 Mil.
Gross Profit was 1.007 + 0 + 0 + 0 = S$1.01 Mil.
Total Current Assets was S$0.00 Mil.
Total Assets was S$0.00 Mil.
Property, Plant and Equipment(Net PPE) was S$0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was S$0.00 Mil.
Selling, General, & Admin. Expense(SGA) was S$10.70 Mil.
Total Current Liabilities was S$0.00 Mil.
Long-Term Debt & Capital Lease Obligation was S$0.00 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)
	=	(0 / 50.993)	/	(0 / 45.024)
	=	0	/	0
	=

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)
	=	(1.007 / 45.024)	/	(-5.504 / 50.993)
	=	0.022366	/	-0.107936
	=

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 - (410.293 + 0) / 410.303)	/	(1 - (0 + 0) / 0)
	=	2.4E-5	/
	=

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
	=	50.993	/	45.024
	=

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 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(10.194 / 50.993)	/	(10.697 / 45.024)
	=	0.19991	/	0.237584
	=

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 + 537.266) / 410.303)	/	((0 + 0) / 0)
	=	1.309437	/
	=

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
	=	(-64.739 - 0	-	0)	/	410.303
	=	-0.157783

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.

Samko Timber Beneish M-Score Related Terms

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Samko Timber Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Forest Products » Samko Timber Ltd (SGX:E6R) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

7500A Beach Road, Number 08-305/307 The Plaza, Singapore, SGP, 199591

Website

https://www.sampoernakayoe.co.id

Samko Timber Ltd is an Indonesia-based investment holding company engaged in the processing of wood resources through its subsidiaries. The group is organized into three divisions based on its products and services namely the SGS division, SGM division and the ST division. SGS division which derives its majority of revenue deals in the business of manufacturing and selling primary process timber products such as general plywood and laminated lumber and processed timber products also contributes the majority of the group's revenue. ST division trades in all types of timber products manufactured by the division and are responsible for the production of secondary timber products.

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