Auna Beneish M-Score Historical Data
The historical data trend for Auna'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.
Auna Beneish M-Score Chart
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Auna Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
- |
-1.81 |
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Auna Quarterly Data
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Dec17 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Dec21 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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- |
-1.81 |
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-2.76 |
-2.83 |
Competitive Comparison of Auna's Beneish M-Score
For the Medical Care Facilities subindustry, Auna'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.
Auna's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Auna's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Auna's Beneish M-Score falls into.
Auna 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 Auna 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 * 1.0089 | + | 0.528 * 0.9532 | + | 0.404 * 0.9563 | + | 0.892 * 1.1872 | + | 0.115 * 0.7579 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.87 | + | 4.679 * -0.09699 | - | 0.327 * 1.0754 |
| = | -2.83 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was €248 Mil.
Revenue was 284.441 + 282.874 + 271.651 + 257.738 = €1,097 Mil.
Gross Profit was 113.447 + 107.89 + 104.617 + 94.86 = €421 Mil.
Total Current Assets was €412 Mil.
Total Assets was €1,805 Mil.
Property, Plant and Equipment(Net PPE) was €619 Mil.
Depreciation, Depletion and Amortization(DDA) was €56 Mil.
Selling, General, & Admin. Expense(SGA) was €216 Mil.
Total Current Liabilities was €469 Mil.
Long-Term Debt & Capital Lease Obligation was €790 Mil.
Net Income was 24.714 + 0.947 + -3.367 + -53.348 = €-31 Mil.
Non Operating Income was 7.888 + 1.728 + 3.509 + -25.851 = €-13 Mil.
Cash Flow from Operations was 51.39 + 29.557 + 38.958 + 36.833 = €157 Mil.
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Total Receivables was €207 Mil.
Revenue was 256.283 + 238.795 + 225.683 + 203.042 = €924 Mil.
Gross Profit was 93.91 + 90.809 + 82.783 + 70.39 = €338 Mil.
Total Current Assets was €395 Mil.
Total Assets was €1,933 Mil.
Property, Plant and Equipment(Net PPE) was €672 Mil.
Depreciation, Depletion and Amortization(DDA) was €45 Mil.
Selling, General, & Admin. Expense(SGA) was €209 Mil.
Total Current Liabilities was €413 Mil.
Long-Term Debt & Capital Lease Obligation was €841 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) |
| = | (248.391 / 1096.704) | / | (207.383 / 923.803) |
| = | 0.226489 | / | 0.224488 |
| | = | 1.0089 |
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) |
| = | (337.892 / 923.803) | / | (420.814 / 1096.704) |
| = | 0.365762 | / | 0.383708 |
| | = | 0.9532 |
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 - (412.119 + 619.385) / 1804.999) | / | (1 - (395.288 + 671.547) / 1932.987) |
| = | 0.428529 | / | 0.44809 |
| | = | 0.9563 |
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 |
| = | 1096.704 | / | 923.803 |
| | = | 1.1872 |
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)) |
| = | (45.345 / (45.345 + 671.547)) | / | (56.396 / (56.396 + 619.385)) |
| = | 0.063252 | / | 0.083453 |
| | = | 0.7579 |
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) |
| = | (216.256 / 1096.704) | / | (209.371 / 923.803) |
| = | 0.197187 | / | 0.22664 |
| | = | 0.87 |
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) |
| = | ((789.912 + 468.659) / 1804.999) | / | ((840.709 + 412.599) / 1932.987) |
| = | 0.69727 | / | 0.648379 |
| | = | 1.0754 |
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 |
| = | (-31.054 - -12.726 | - | 156.738) | / | 1804.999 |
| | = | -0.09699 |
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.
Auna has a M-score of -2.83 suggests that the company is unlikely to be a manipulator.
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