Sv Kons & Elena (XBUL:SKEH) Beneish M-Score : 0.00 (As of Dec. 15, 2024)

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What is Sv Kons & Elena 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.

The historical rank and industry rank for Sv Kons & Elena's Beneish M-Score or its related term are showing as below:

During the past 13 years, the highest Beneish M-Score of Sv Kons & Elena was 3.69. The lowest was -6.89. And the median was -2.41.

Sv Kons & Elena Beneish M-Score Historical Data

The historical data trend for Sv Kons & Elena'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.

Sv Kons & Elena Beneish M-Score Chart

Sv Kons & Elena Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.34

-2.56

-2.82

3.69

-1.67

Sv Kons & Elena Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.17	-1.67	-1.41	-2.21	-

Competitive Comparison of Sv Kons & Elena's Beneish M-Score

For the Lodging subindustry, Sv Kons & Elena'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.

Sv Kons & Elena's Beneish M-Score Distribution in the Travel & Leisure Industry

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

* The bar in red indicates where Sv Kons & Elena's Beneish M-Score falls into.

Sv Kons & Elena 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 Sv Kons & Elena 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was лв2.64 Mil.
Revenue was 19.371 + 7.711 + 3.222 + 8.628 = лв38.93 Mil.
Gross Profit was 12.73 + 0.77 + 2.43 + 1.481 = лв17.41 Mil.
Total Current Assets was лв24.50 Mil.
Total Assets was лв154.31 Mil.
Property, Plant and Equipment(Net PPE) was лв106.52 Mil.
Depreciation, Depletion and Amortization(DDA) was лв3.35 Mil.
Selling, General, & Admin. Expense(SGA) was лв2.25 Mil.
Total Current Liabilities was лв18.32 Mil.
Long-Term Debt & Capital Lease Obligation was лв65.75 Mil.
Net Income was 7.975 + -2.029 + -3.011 + -1.821 = лв1.11 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = лв0.00 Mil.
Cash Flow from Operations was 2.751 + -0.424 + 0.386 + 0 = лв2.71 Mil.

Total Receivables was лв0.00 Mil.
Revenue was 18.202 + 8.082 + 1.979 + 0 = лв28.26 Mil.
Gross Profit was 11.248 + 0.936 + 1.226 + 0 = лв13.41 Mil.
Total Current Assets was лв0.00 Mil.
Total Assets was лв0.00 Mil.
Property, Plant and Equipment(Net PPE) was лв0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was лв2.18 Mil.
Selling, General, & Admin. Expense(SGA) was лв1.26 Mil.
Total Current Liabilities was лв0.00 Mil.
Long-Term Debt & Capital Lease Obligation was лв0.00 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)
	=	(2.637 / 38.932)	/	(0 / 28.263)
	=	0.067733	/	0
	=

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)
	=	(13.41 / 28.263)	/	(17.411 / 38.932)
	=	0.474472	/	0.447216
	=

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 - (24.502 + 106.521) / 154.305)	/	(1 - (0 + 0) / 0)
	=	0.150883	/
	=

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
	=	38.932	/	28.263
	=

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))
	=	(2.178 / (2.178 + 0))	/	(3.346 / (3.346 + 106.521))
	=	1	/	0.030455
	=

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)
	=	(2.248 / 38.932)	/	(1.263 / 28.263)
	=	0.057742	/	0.044687
	=

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)
	=	((65.754 + 18.32) / 154.305)	/	((0 + 0) / 0)
	=	0.544856	/
	=

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
	=	(1.114 - 0	-	2.713)	/	154.305
	=	-0.010363

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.

Sv Kons & Elena Beneish M-Score Related Terms

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Sv Kons & Elena Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Sv Kons & Elena (XBUL:SKEH) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Administrative building, Varna, BGR, 9006

Website

http://www.stconstantine.bg

Sv Kons & Elena is engaged in acquisition and management of investments in subsidiaries, rental of own assets / tourist and commercial sites / maintenance of the general infrastructure of the resort of St. Sveti Konstantin and Elena, exploitation of sea beaches, construction by assignment of luxury residential buildings, purchase and sale of goods, provision of hotel services, maintenance and management of residential complexes of closed type, technical, administrative and other services.

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