Jamaica Producers Group Beneish M-Score Historical Data
The historical data trend for Jamaica Producers Group'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.
Jamaica Producers Group Beneish M-Score Chart
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Jamaica Producers Group Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.58 |
-2.68 |
-2.55 |
0.75 |
52.07 |
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Jamaica Producers Group Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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0.75 |
-3.09 |
60.62 |
117.57 |
52.07 |
Competitive Comparison of Jamaica Producers Group's Beneish M-Score
For the Food Distribution subindustry, Jamaica Producers Group'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.
Jamaica Producers Group's Beneish M-Score Distribution in the Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Jamaica Producers Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Jamaica Producers Group's Beneish M-Score falls into.
Jamaica Producers Group 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 Jamaica Producers Group 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 * 62.6222 | + | 0.528 * 0.3044 | + | 0.404 * 1.0101 | + | 0.892 * 0.0162 | + | 0.115 * 5.489 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 10.4431 | + | 4.679 * 0.041165 | - | 0.327 * 0.9553 |
| = | 52.07 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was JMD39.8 Mil.
Revenue was 30.714 + 32.993 + 24.968 + 27.333 = JMD116.0 Mil.
Gross Profit was 30.714 + 32.993 + 24.968 + 27.333 = JMD116.0 Mil.
Total Current Assets was JMD1,259.1 Mil.
Total Assets was JMD38,086.7 Mil.
Property, Plant and Equipment(Net PPE) was JMD63.5 Mil.
Depreciation, Depletion and Amortization(DDA) was JMD12.0 Mil.
Selling, General, & Admin. Expense(SGA) was JMD255.4 Mil.
Total Current Liabilities was JMD731.6 Mil.
Long-Term Debt & Capital Lease Obligation was JMD3.8 Mil.
Net Income was 775.58 + 261.107 + 336.935 + 239.272 = JMD1,612.9 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = JMD0.0 Mil.
Cash Flow from Operations was 240.126 + -15.606 + -128.732 + -50.738 = JMD45.1 Mil.
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Total Receivables was JMD39.2 Mil.
Revenue was 29.281 + 27.25 + 28.411 + 7061.992 = JMD7,146.9 Mil.
Gross Profit was 118.01 + 27.25 + 28.411 + 2002.014 = JMD2,175.7 Mil.
Total Current Assets was JMD1,584.8 Mil.
Total Assets was JMD37,248.0 Mil.
Property, Plant and Equipment(Net PPE) was JMD66.9 Mil.
Depreciation, Depletion and Amortization(DDA) was JMD466.4 Mil.
Selling, General, & Admin. Expense(SGA) was JMD1,506.4 Mil.
Total Current Liabilities was JMD752.9 Mil.
Long-Term Debt & Capital Lease Obligation was JMD0.0 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) |
| = | (39.825 / 116.008) | / | (39.179 / 7146.934) |
| = | 0.343295 | / | 0.005482 |
| | = | 62.6222 |
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) |
| = | (2175.685 / 7146.934) | / | (116.008 / 116.008) |
| = | 0.304422 | / | 1 |
| | = | 0.3044 |
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 - (1259.129 + 63.528) / 38086.73) | / | (1 - (1584.814 + 66.935) / 37248.005) |
| = | 0.965272 | / | 0.955655 |
| | = | 1.0101 |
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 |
| = | 116.008 | / | 7146.934 |
| | = | 0.0162 |
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)) |
| = | (466.376 / (466.376 + 66.935)) | / | (12.039 / (12.039 + 63.528)) |
| = | 0.874492 | / | 0.159316 |
| | = | 5.489 |
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) |
| = | (255.359 / 116.008) | / | (1506.447 / 7146.934) |
| = | 2.201219 | / | 0.210782 |
| | = | 10.4431 |
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) |
| = | ((3.762 + 731.604) / 38086.73) | / | ((0 + 752.851) / 37248.005) |
| = | 0.019308 | / | 0.020212 |
| | = | 0.9553 |
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 |
| = | (1612.894 - 0 | - | 45.05) | / | 38086.73 |
| | = | 0.041165 |
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.
Jamaica Producers Group has a M-score of 52.07 signals that the company is likely to be a manipulator.
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