Dong Nai Port JSC (STC:PDN) Beneish M-Score : -2.16 (As of Dec. 14, 2024)

View and export this data going back to 2011. Start your Free Trial

What is Dong Nai Port JSC 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 -2.16 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Dong Nai Port JSC's Beneish M-Score or its related term are showing as below:

STC:PDN' s Beneish M-Score Range Over the Past 10 Years
Min: -2.58 Med: -2.18 Max: -1.96
Current: -2.16

During the past 6 years, the highest Beneish M-Score of Dong Nai Port JSC was -1.96. The lowest was -2.58. And the median was -2.18.

Dong Nai Port JSC Beneish M-Score Historical Data

The historical data trend for Dong Nai Port 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.

* Premium members only.

Dong Nai Port JSC Beneish M-Score Chart

Dong Nai Port JSC Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-1.96

-2.48

-2.00

Dong Nai Port JSC Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.49	-2.00	-2.03	-2.20	-2.16

Competitive Comparison of Dong Nai Port JSC's Beneish M-Score

For the Marine Shipping subindustry, Dong Nai Port 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.

Dong Nai Port JSC's Beneish M-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Dong Nai Port JSC's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Dong Nai Port JSC's Beneish M-Score falls into.

Dong Nai Port 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 Dong Nai Port JSC 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 * 1.1055

0.528 * 0.9376

0.404 * 0.9078

0.892 * 1.19

0.115 * 1.3608

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9289

4.679 * 0.011379

0.327 * 0.9341

-2.16

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was ₫179,991 Mil.
Revenue was 332791.074 + 321770.711 + 313494.535 + 334881.39 = ₫1,302,938 Mil.
Gross Profit was 128020.439 + 118219.804 + 124314.906 + 121607.24 = ₫492,162 Mil.
Total Current Assets was ₫877,385 Mil.
Total Assets was ₫1,588,771 Mil.
Property, Plant and Equipment(Net PPE) was ₫593,824 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫694 Mil.
Selling, General, & Admin. Expense(SGA) was ₫60,004 Mil.
Total Current Liabilities was ₫359,539 Mil.
Long-Term Debt & Capital Lease Obligation was ₫56,781 Mil.
Net Income was 90068.212 + 84473.839 + 85003.274 + 80094.34 = ₫339,640 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was 148248.259 + 93439.283 + 79873.747 + 0 = ₫321,561 Mil.

Total Receivables was ₫136,817 Mil.
Revenue was 300322.486 + 304628.506 + 227404.584 + 262539.218 = ₫1,094,895 Mil.
Gross Profit was 118511.011 + 106815.454 + 81895.106 + 80549.212 = ₫387,771 Mil.
Total Current Assets was ₫626,879 Mil.
Total Assets was ₫1,368,273 Mil.
Property, Plant and Equipment(Net PPE) was ₫629,862 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫1,002 Mil.
Selling, General, & Admin. Expense(SGA) was ₫54,283 Mil.
Total Current Liabilities was ₫303,578 Mil.
Long-Term Debt & Capital Lease Obligation was ₫80,255 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)
	=	(179991.293 / 1302937.71)	/	(136817.139 / 1094894.794)
	=	0.138143	/	0.124959
	=	1.1055

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)
	=	(387770.783 / 1094894.794)	/	(492162.389 / 1302937.71)
	=	0.354163	/	0.377733
	=	0.9376

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 - (877384.715 + 593823.89) / 1588771.1)	/	(1 - (626878.568 + 629861.803) / 1368273.213)
	=	0.073996	/	0.081514
	=	0.9078

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
	=	1302937.71	/	1094894.794
	=	1.19

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))
	=	(1001.93 / (1001.93 + 629861.803))	/	(693.939 / (693.939 + 593823.89))
	=	0.001588	/	0.001167
	=	1.3608

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)
	=	(60004.33 / 1302937.71)	/	(54282.914 / 1094894.794)
	=	0.046053	/	0.049578
	=	0.9289

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)
	=	((56781.333 + 359539.127) / 1588771.1)	/	((80255.443 + 303577.999) / 1368273.213)
	=	0.262039	/	0.280524
	=	0.9341

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
	=	(339639.665 - 0	-	321561.289)	/	1588771.1
	=	0.011379

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.

Dong Nai Port JSC has a M-score of -2.16 suggests that the company is unlikely to be a manipulator.

Dong Nai Port JSC Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Dong Nai Port JSC's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Dong Nai Port JSC Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Dong Nai Port JSC (STC:PDN) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Long Binh Tan Ward, Bien Hoa City, Dong Nai Province, VNM

Website

http://www.dongnai-port.com

Dong Nai Port JSC is engaged in providing supporting service activity of waterway transport. Maintaining, repairing of motorcar and other motors. Goods loading in seaport; Goods loading by land; goods transporting among others.