SICOR Cote d'Ivoire (XBRV:SICC) Beneish M-Score: 0.00 (As of Sep. 21, 2026)

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XBRV:SICC SICOR Cote d'Ivoire XBRV:SICC
33 GF Score
Price XOF8,400.00
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What is SICOR Cote d'Ivoire Beneish M-Score?

SICOR Cote d'Ivoire XBRV:SICC 33 Beneish M-Score is 0.00 as of Sep. 21, 2026. GuruFocus rates XBRV:SICC with a GF Score™ of 33/100. Among 1,885 Consumer Packaged Goods companies, SICOR Cote d'Ivoire ranks worse than 53050.34% on this metric.

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.

The historical rank and industry rank for SICOR Cote d'Ivoire's Beneish M-Score or its related term are showing as below:

During the past 8 years, the highest Beneish M-Score of SICOR Cote d'Ivoire was 0.00. The lowest was 0.00. And the median was 0.00.

SICOR Cote d'Ivoire Beneish M-Score Historical Data

* Premium members only.

The historical data trend for SICOR Cote d'Ivoire'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.

SICOR Cote d'Ivoire Beneish M-Score Chart

SICOR Cote d'Ivoire Annual Data
Trend Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
Beneish M-Score
Get a 7-Day Free Trial - - 2.04 -3.57 -1.43

SICOR Cote d'Ivoire Semi-Annual Data
Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
Beneish M-Score Get a 7-Day Free Trial - - 2.04 -3.57 -1.43

XBRV:SICC vs : Beneish M-Score Comparison

For the Farm Products subindustry, SICOR Cote d'Ivoire'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.

SICOR Cote d'Ivoire Beneish M-Score vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, SICOR Cote d'Ivoire's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where SICOR Cote d'Ivoire's Beneish M-Score falls into.


XBRV:SICC
33GF Score
SICOR Cote d'Ivoire XBRV:SICC
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SICOR Cote d'Ivoire 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 SICOR Cote d'Ivoire 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 * 1.3388+0.528 * 1.5754+0.404 * 1.0425+0.892 * 1.2605+0.115 * 0.8143
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.7654+4.679 * 0.256346-0.327 * 0.5478
=-0.25

* 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 (Dec18) TTM:Last Year (Dec17) TTM:
Total Receivables was XOF258 Mil.
Revenue was XOF1,393 Mil.
Gross Profit was XOF277 Mil.
Total Current Assets was XOF1,734 Mil.
Total Assets was XOF3,933 Mil.
Property, Plant and Equipment(Net PPE) was XOF2,070 Mil.
Depreciation, Depletion and Amortization(DDA) was XOF206 Mil.
Selling, General, & Admin. Expense(SGA) was XOF144 Mil.
Total Current Liabilities was XOF889 Mil.
Long-Term Debt & Capital Lease Obligation was XOF151 Mil.
Net Income was XOF989 Mil.
Gross Profit was XOF Mil.
Cash Flow from Operations was XOF-19 Mil.
 Total Receivables was XOF153 Mil.
Revenue was XOF1,105 Mil.
Gross Profit was XOF346 Mil.
Total Current Assets was XOF1,353 Mil.
Total Assets was XOF3,680 Mil.
Property, Plant and Equipment(Net PPE) was XOF2,211 Mil.
Depreciation, Depletion and Amortization(DDA) was XOF176 Mil.
Selling, General, & Admin. Expense(SGA) was XOF150 Mil.
Total Current Liabilities was XOF1,698 Mil.
Long-Term Debt & Capital Lease Obligation was XOF78 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)
=(257.665 / 1393.219) / (152.685 / 1105.303)
=0.184942 / 0.138139
=1.3388

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)
=(346.04 / 1105.303) / (276.86 / 1393.219)
=0.313073 / 0.19872
=1.5754

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 - (1733.985 + 2069.554) / 3933.301) / (1 - (1353.087 + 2210.582) / 3680.133)
=0.032991 / 0.031647
=1.0425

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
=1393.219 / 1105.303
=1.2605

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))
=(176.053 / (176.053 + 2210.582)) / (206.154 / (206.154 + 2069.554))
=0.073766 / 0.090589
=0.8143

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)
=(144.41 / 1393.219) / (149.689 / 1105.303)
=0.103652 / 0.135428
=0.7654

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)
=((151.403 + 888.641) / 3933.301) / ((78.324 + 1697.953) / 3680.133)
=0.26442 / 0.482667
=0.5478

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
=(989.401 - 0 - -18.883) / 3933.301
=0.256346

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.

SICOR Cote d'Ivoire has a M-score of -0.25 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of 0.00 mean?
SICOR Cote d'Ivoire (XBRV:SICC) has a Beneish M-Score of 0.00 as of Sep. 21, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SICOR Cote d'Ivoire and its competitors. According to the industry distribution chart, SICOR Cote d'Ivoire ranks #999999 out of 1885 companies in the Consumer Packaged Goods industry.
Is SICOR Cote d'Ivoire's Beneish M-Score too high?
SICOR Cote d'Ivoire's current Beneish M-Score is 0.00. Based on the distribution chart, SICOR Cote d'Ivoire ranks #999999 out of 1885 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, SICOR Cote d'Ivoire has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does SICOR Cote d'Ivoire's Beneish M-Score compare to ?
According to the Consumer Packaged Goods industry distribution chart, SICOR Cote d'Ivoire ranks #999999 out of 1885 companies for Beneish M-Score. This places SICOR Cote d'Ivoire in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Consumer Packaged Goods company?
A good Beneish M-Score depends on the Consumer Packaged Goods industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on SICOR Cote d'Ivoire and its competitors. SICOR Cote d'Ivoire's current Beneish M-Score is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SICOR Cote d'Ivoire stock overvalued right now?
SICOR Cote d'Ivoire (XBRV:SICC) has a current Beneish M-Score of 0.00. The current Beneish M-Score is 0.00. SICOR Cote d'Ivoire's overall GF Score™ is 33/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For SICOR Cote d'Ivoire (XBRV:SICC), the current Beneish M-Score is 0.00 as of Sep. 21, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

SICOR Cote d'Ivoire Business Description

Comparable Companies
Address Quartier SICOR, Jacqueville, CIV, BP 202
SICOR Cote d'Ivoire offers coconut products and derivates, including desiccated coco and copra.
33GF Score

Get the complete analysis for XBRV:SICC

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

XOF8,400.00
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