Emperor Entertainment Hotel (STU:EM7A) Beneish M-Score : -2.40 (As of Dec. 13, 2024)

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What is Emperor Entertainment Hotel 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 -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

STU:EM7A' s Beneish M-Score Range Over the Past 10 Years
Min: -3.18 Med: -2.57 Max: -1.68
Current: -2.4

During the past 13 years, the highest Beneish M-Score of Emperor Entertainment Hotel was -1.68. The lowest was -3.18. And the median was -2.57.

Emperor Entertainment Hotel Beneish M-Score Historical Data

The historical data trend for Emperor Entertainment Hotel'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.

Emperor Entertainment Hotel Beneish M-Score Chart

Emperor Entertainment Hotel Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-2.95

-1.68

-2.23

-3.18

-2.40

Emperor Entertainment Hotel Semi-Annual Data
	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-	-3.18	-	-2.40	-

Competitive Comparison of Emperor Entertainment Hotel's Beneish M-Score

For the Resorts & Casinos subindustry, Emperor Entertainment Hotel'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.

Emperor Entertainment Hotel's Beneish M-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Emperor Entertainment Hotel's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Emperor Entertainment Hotel's Beneish M-Score falls into.

Emperor Entertainment Hotel 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 Emperor Entertainment Hotel 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 * 0.5525

0.528 * -1.0188

0.404 * 1.0019

0.892 * 2.6793

0.115 * 0.9112

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6427

4.679 * -0.017892

0.327 * 0.8077

-2.43

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was €9.19 Mil.
Revenue was €92.82 Mil.
Gross Profit was €36.20 Mil.
Total Current Assets was €82.95 Mil.
Total Assets was €571.83 Mil.
Property, Plant and Equipment(Net PPE) was €310.51 Mil.
Depreciation, Depletion and Amortization(DDA) was €16.17 Mil.
Selling, General, & Admin. Expense(SGA) was €31.96 Mil.
Total Current Liabilities was €23.61 Mil.
Long-Term Debt & Capital Lease Obligation was €3.09 Mil.
Net Income was €7.16 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €17.39 Mil.

Total Receivables was €6.21 Mil.
Revenue was €34.64 Mil.
Gross Profit was €-13.77 Mil.
Total Current Assets was €67.45 Mil.
Total Assets was €575.69 Mil.
Property, Plant and Equipment(Net PPE) was €329.01 Mil.
Depreciation, Depletion and Amortization(DDA) was €15.54 Mil.
Selling, General, & Admin. Expense(SGA) was €18.56 Mil.
Total Current Liabilities was €30.13 Mil.
Long-Term Debt & Capital Lease Obligation was €3.15 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)
	=	(9.186 / 92.819)	/	(6.205 / 34.643)
	=	0.098967	/	0.179113
	=	0.5525

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)
	=	(-13.767 / 34.643)	/	(36.204 / 92.819)
	=	-0.397396	/	0.390049
	=	-1.0188

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 - (82.953 + 310.505) / 571.826)	/	(1 - (67.445 + 329.007) / 575.691)
	=	0.311927	/	0.311346
	=	1.0019

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
	=	92.819	/	34.643
	=	2.6793

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))
	=	(15.539 / (15.539 + 329.007))	/	(16.168 / (16.168 + 310.505))
	=	0.0451	/	0.049493
	=	0.9112

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)
	=	(31.956 / 92.819)	/	(18.557 / 34.643)
	=	0.344283	/	0.535664
	=	0.6427

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)
	=	((3.09 + 23.609) / 571.826)	/	((3.147 + 30.132) / 575.691)
	=	0.046691	/	0.057807
	=	0.8077

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
	=	(7.16 - 0	-	17.391)	/	571.826
	=	-0.017892

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.

Emperor Entertainment Hotel has a M-score of -2.43 suggests that the company is unlikely to be a manipulator.

Emperor Entertainment Hotel Beneish M-Score Related Terms

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Emperor Entertainment Hotel Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Emperor Entertainment Hotel Ltd (STU:EM7A) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

00296:Hong Kong EM7A:Germany

Address

288 Hennessy Road, 28th Floor, Emperor Group Centre, Wanchai, Hong Kong, HKG

Website

https://www.emp296.com

Emperor Entertainment Hotel Ltd is a Macao-based company that is active in the hospitality and entertainment industry. The company is engaged provision of gaming-related marketing and public relations services in the casino of the Grand Emperor Hotel, the operation of a mass market hall, VIP room, and slot machine hall operations. The company is also engaged in the hotel operation of the Grand Emperor Hotel and the Inn Hotel Macau. The company manages its business in segments namely gaming operations, Leasing, and hotel operation. It generates the majority of its revenue from hotel operations in Macau.

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