Mangistaumunaigas JSC Beneish M-Score Historical Data
The historical data trend for Mangistaumunaigas JSC'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.
Mangistaumunaigas JSC Beneish M-Score Chart
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Mangistaumunaigas JSC Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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5.32 |
-2.33 |
-2.33 |
-3.09 |
-1.77 |
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Mangistaumunaigas JSC Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-3.02 |
-1.77 |
-2.68 |
-3.00 |
-3.45 |
Competitive Comparison of Mangistaumunaigas JSC's Beneish M-Score
For the Oil & Gas E&P subindustry, Mangistaumunaigas JSC'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.
Mangistaumunaigas JSC's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Mangistaumunaigas JSC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mangistaumunaigas JSC's Beneish M-Score falls into.
Mangistaumunaigas JSC 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 Mangistaumunaigas JSC 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 * 0.626 | + | 0.528 * 1.0343 | + | 0.404 * 1.0208 | + | 0.892 * 1.048 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.4477 | + | 4.679 * -0.16605 | - | 0.327 * 1.0511 |
| = | -3.45 |
* 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 ₸26,812 Mil.
Revenue was 198920.754 + 226022.318 + 220370.92 + 244812.537 = ₸890,127 Mil.
Gross Profit was 85027.994 + 105769.072 + 115901.702 + 120072.601 = ₸426,771 Mil.
Total Current Assets was ₸178,298 Mil.
Total Assets was ₸605,921 Mil.
Property, Plant and Equipment(Net PPE) was ₸413,148 Mil.
Depreciation, Depletion and Amortization(DDA) was ₸0 Mil.
Selling, General, & Admin. Expense(SGA) was ₸110,222 Mil.
Total Current Liabilities was ₸134,310 Mil.
Long-Term Debt & Capital Lease Obligation was ₸0 Mil.
Net Income was 14298.24 + 18265.842 + 22942.94 + -327.056 = ₸55,180 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₸0 Mil.
Cash Flow from Operations was 66012.918 + 60990.525 + 28789.922 + 0 = ₸155,793 Mil.
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Total Receivables was ₸40,873 Mil.
Revenue was 231383.047 + 198594.675 + 203571.302 + 215821.987 = ₸849,371 Mil.
Gross Profit was 123915.73 + 96305.138 + 107336.803 + 93629.666 = ₸421,187 Mil.
Total Current Assets was ₸214,169 Mil.
Total Assets was ₸650,798 Mil.
Property, Plant and Equipment(Net PPE) was ₸421,397 Mil.
Depreciation, Depletion and Amortization(DDA) was ₸78 Mil.
Selling, General, & Admin. Expense(SGA) was ₸234,897 Mil.
Total Current Liabilities was ₸137,238 Mil.
Long-Term Debt & Capital Lease Obligation was ₸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) |
| = | (26811.986 / 890126.529) | / | (40872.957 / 849371.011) |
| = | 0.030122 | / | 0.048121 |
| | = | 0.626 |
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) |
| = | (421187.337 / 849371.011) | / | (426771.369 / 890126.529) |
| = | 0.495881 | / | 0.47945 |
| | = | 1.0343 |
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 - (178297.855 + 413148.12) / 605921.345) | / | (1 - (214169.112 + 421397.214) / 650797.615) |
| = | 0.02389 | / | 0.023404 |
| | = | 1.0208 |
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 |
| = | 890126.529 | / | 849371.011 |
| | = | 1.048 |
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)) |
| = | (78.068 / (78.068 + 421397.214)) | / | (0 / (0 + 413148.12)) |
| = | 0.000185 | / | 0 |
| | = | 1 |
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) |
| = | (110221.873 / 890126.529) | / | (234897.123 / 849371.011) |
| = | 0.123827 | / | 0.276554 |
| | = | 0.4477 |
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) |
| = | ((0 + 134309.917) / 605921.345) | / | ((0 + 137237.731) / 650797.615) |
| = | 0.221662 | / | 0.210876 |
| | = | 1.0511 |
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 |
| = | (55179.966 - 0 | - | 155793.365) | / | 605921.345 |
| | = | -0.16605 |
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.
Mangistaumunaigas JSC has a M-score of -3.45 suggests that the company is unlikely to be a manipulator.
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