PetroVietnam Gas JSC Beneish M-Score Historical Data
The historical data trend for PetroVietnam Gas JSC'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.
PetroVietnam Gas JSC Beneish M-Score Chart
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PetroVietnam Gas JSC Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.18 |
-1.76 |
-2.31 |
-2.59 |
-2.18 |
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PetroVietnam Gas JSC Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.59 |
-2.38 |
-2.32 |
-2.40 |
-2.18 |
Competitive Comparison of PetroVietnam Gas JSC's Beneish M-Score
For the Oil & Gas Integrated subindustry, PetroVietnam Gas JSC'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.
PetroVietnam Gas JSC's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, PetroVietnam Gas JSC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PetroVietnam Gas JSC's Beneish M-Score falls into.
PetroVietnam Gas JSC 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 PetroVietnam Gas JSC 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 * 0.9796 | + | 0.528 * 1.1037 | + | 0.404 * 1.1611 | + | 0.892 * 1.1513 | + | 0.115 * 1.0331 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2466 | + | 4.679 * 0.016653 | - | 0.327 * 0.9397 |
| = | -2.18 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was ₫18,722,778 Mil.
Revenue was 24945117.336 + 25252008.025 + 30052003.597 + 23314997.604 = ₫103,564,127 Mil.
Gross Profit was 4044159.123 + 4183418.378 + 5735665.2 + 3691114.739 = ₫17,654,357 Mil.
Total Current Assets was ₫57,290,495 Mil.
Total Assets was ₫81,854,881 Mil.
Property, Plant and Equipment(Net PPE) was ₫19,570,573 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫2,727,710 Mil.
Selling, General, & Admin. Expense(SGA) was ₫5,427,677 Mil.
Total Current Liabilities was ₫14,575,489 Mil.
Long-Term Debt & Capital Lease Obligation was ₫2,290,752 Mil.
Net Income was 2044102.438 + 2521794.494 + 3320816.772 + 2511656.346 = ₫10,398,370 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was 1674322.774 + 2553930.348 + 3169944.768 + 1637012.811 = ₫9,035,211 Mil.
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Total Receivables was ₫16,601,174 Mil.
Revenue was 22570615.774 + 22126160.69 + 24042648.64 + 21214481.409 = ₫89,953,907 Mil.
Gross Profit was 4058279.257 + 3681632.127 + 4342775.572 + 4842234.499 = ₫16,924,921 Mil.
Total Current Assets was ₫62,217,752 Mil.
Total Assets was ₫87,754,455 Mil.
Property, Plant and Equipment(Net PPE) was ₫20,925,719 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫3,026,921 Mil.
Selling, General, & Admin. Expense(SGA) was ₫3,781,942 Mil.
Total Current Liabilities was ₫14,971,949 Mil.
Long-Term Debt & Capital Lease Obligation was ₫4,270,502 Mil.
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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) |
| = | (18722777.755 / 103564126.562) | / | (16601173.997 / 89953906.513) |
| = | 0.180784 | / | 0.184552 |
| | = | 0.9796 |
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) |
| = | (16924921.455 / 89953906.513) | / | (17654357.44 / 103564126.562) |
| = | 0.188151 | / | 0.170468 |
| | = | 1.1037 |
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 - (57290495.43 + 19570572.634) / 81854881.408) | / | (1 - (62217752.153 + 20925718.552) / 87754455.33) |
| = | 0.061008 | / | 0.052544 |
| | = | 1.1611 |
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 |
| = | 103564126.562 | / | 89953906.513 |
| | = | 1.1513 |
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)) |
| = | (3026921.231 / (3026921.231 + 20925718.552)) | / | (2727709.804 / (2727709.804 + 19570572.634)) |
| = | 0.126371 | / | 0.122328 |
| | = | 1.0331 |
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) |
| = | (5427676.716 / 103564126.562) | / | (3781941.797 / 89953906.513) |
| = | 0.052409 | / | 0.042043 |
| | = | 1.2466 |
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) |
| = | ((2290752.009 + 14575489.06) / 81854881.408) | / | ((4270501.722 + 14971948.872) / 87754455.33) |
| = | 0.206051 | / | 0.219276 |
| | = | 0.9397 |
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 |
| = | (10398370.05 - 0 | - | 9035210.701) | / | 81854881.408 |
| | = | 0.016653 |
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.
PetroVietnam Gas JSC has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.
PetroVietnam Gas JSC Business Description
Traded in Other Exchanges
N/A
Address
No. 673 Nguyen Huu Tho Street, 12th, 12Ath, 14th, 15th Floor, PV Gas Building, Phuoc Kien Commune, Nha Be District, Ho Chi Minh City, VNM
PetroVietnam Gas JSC is a Vietnam-based company which is active in the oil and gas industry. The principal activities of the company are to collect, import, transport, store, process, distribute, trade gas and gas products. It is engaged in distributing, trading gas and dry gas products, LNG (liquefied natural gas), CNG (Compressed natural gas), LPG (Liquefied Petroleum Gas) and condensates for industrial and household use as well as managing, operating, maintaining and restoring all gas works. The company also provides services in the gas industry such as renovating, maintaining, and restoring engines, installing conversion equipment for means of transport and agriculture, forestry and others. It operates its business across the Vietnam.
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