Selena FM Beneish M-Score Historical Data
The historical data trend for Selena FM'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.
Selena FM Beneish M-Score Chart
|
Selena FM Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.00 |
-2.49 |
-1.63 |
-2.80 |
-2.39 |
|
Selena FM Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.80 |
-2.58 |
-2.59 |
-2.88 |
-2.39 |
Competitive Comparison of Selena FM's Beneish M-Score
For the Specialty Chemicals subindustry, Selena FM'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.
Selena FM's Beneish M-Score Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Selena FM's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Selena FM's Beneish M-Score falls into.
Selena FM 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 Selena FM 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 * 1.1257 | + | 0.528 * 0.9728 | + | 0.404 * 1.5505 | + | 0.892 * 0.9058 | + | 0.115 * 1.4704 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1216 | + | 4.679 * -0.026069 | - | 0.327 * 1.1711 |
| = | -2.39 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was zł346 Mil.
Revenue was 422.065 + 491.603 + 452.54 + 412.197 = zł1,778 Mil.
Gross Profit was 112.099 + 179.192 + 139.476 + 119.3 = zł550 Mil.
Total Current Assets was zł689 Mil.
Total Assets was zł1,286 Mil.
Property, Plant and Equipment(Net PPE) was zł394 Mil.
Depreciation, Depletion and Amortization(DDA) was zł40 Mil.
Selling, General, & Admin. Expense(SGA) was zł460 Mil.
Total Current Liabilities was zł478 Mil.
Long-Term Debt & Capital Lease Obligation was zł87 Mil.
Net Income was -11.623 + 54.89 + 11.887 + -5.057 = zł50 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = zł0 Mil.
Cash Flow from Operations was 29.727 + 157.798 + -27.955 + -75.949 = zł84 Mil.
|
Total Receivables was zł340 Mil.
Revenue was 473.516 + 569.003 + 499.177 + 421.608 = zł1,963 Mil.
Gross Profit was 129.059 + 185.062 + 141.45 + 135.164 = zł591 Mil.
Total Current Assets was zł764 Mil.
Total Assets was zł1,171 Mil.
Property, Plant and Equipment(Net PPE) was zł288 Mil.
Depreciation, Depletion and Amortization(DDA) was zł46 Mil.
Selling, General, & Admin. Expense(SGA) was zł453 Mil.
Total Current Liabilities was zł367 Mil.
Long-Term Debt & Capital Lease Obligation was zł72 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) |
| = | (346.336 / 1778.405) | / | (339.639 / 1963.304) |
| = | 0.194745 | / | 0.172994 |
| | = | 1.1257 |
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) |
| = | (590.735 / 1963.304) | / | (550.067 / 1778.405) |
| = | 0.300888 | / | 0.309304 |
| | = | 0.9728 |
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 - (688.695 + 393.706) / 1285.974) | / | (1 - (763.736 + 287.792) / 1171.095) |
| = | 0.158303 | / | 0.102098 |
| | = | 1.5505 |
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 |
| = | 1778.405 | / | 1963.304 |
| | = | 0.9058 |
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)) |
| = | (45.622 / (45.622 + 287.792)) | / | (40.397 / (40.397 + 393.706)) |
| = | 0.136833 | / | 0.093059 |
| | = | 1.4704 |
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) |
| = | (460.14 / 1778.405) | / | (452.897 / 1963.304) |
| = | 0.258737 | / | 0.230681 |
| | = | 1.1216 |
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) |
| = | ((87.003 + 477.642) / 1285.974) | / | ((72.257 + 366.816) / 1171.095) |
| = | 0.43908 | / | 0.374925 |
| | = | 1.1711 |
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 |
| = | (50.097 - 0 | - | 83.621) | / | 1285.974 |
| | = | -0.026069 |
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.
Selena FM has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
WAR:SEL has been successfully added to your