Magnum Bhd Beneish M-Score Historical Data
The historical data trend for Magnum Bhd'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.
Magnum Bhd Beneish M-Score Chart
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Magnum Bhd Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-1.50 |
-2.11 |
-1.99 |
-2.29 |
-2.43 |
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Magnum Bhd 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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-2.29 |
-2.22 |
-1.98 |
-2.53 |
-2.43 |
Competitive Comparison of Magnum Bhd's Beneish M-Score
For the Gambling subindustry, Magnum Bhd'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.
Magnum Bhd's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Magnum Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Magnum Bhd's Beneish M-Score falls into.
Magnum Bhd 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 Magnum Bhd 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 * 1.0806 | + | 0.528 * 0.9937 | + | 0.404 * 0.9962 | + | 0.892 * 1.0329 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9615 | + | 4.679 * -0.015297 | - | 0.327 * 0.9559 |
| = | -2.43 |
* 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 RM88 Mil.
Revenue was 528.699 + 516.02 + 601.938 + 584.396 = RM2,231 Mil.
Gross Profit was 95.458 + 78.174 + 97.717 + 65.619 = RM337 Mil.
Total Current Assets was RM307 Mil.
Total Assets was RM3,521 Mil.
Property, Plant and Equipment(Net PPE) was RM82 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0 Mil.
Selling, General, & Admin. Expense(SGA) was RM41 Mil.
Total Current Liabilities was RM455 Mil.
Long-Term Debt & Capital Lease Obligation was RM552 Mil.
Net Income was 52.081 + 29.3 + 45.439 + 25.988 = RM153 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was 46.355 + 32.204 + 107.436 + 20.682 = RM207 Mil.
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Total Receivables was RM79 Mil.
Revenue was 556.347 + 520.47 + 537.108 + 546.001 = RM2,160 Mil.
Gross Profit was 94.327 + 65.637 + 96.008 + 68.205 = RM324 Mil.
Total Current Assets was RM297 Mil.
Total Assets was RM3,512 Mil.
Property, Plant and Equipment(Net PPE) was RM79 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0 Mil.
Selling, General, & Admin. Expense(SGA) was RM42 Mil.
Total Current Liabilities was RM424 Mil.
Long-Term Debt & Capital Lease Obligation was RM627 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) |
| = | (88.436 / 2231.053) | / | (79.233 / 2159.926) |
| = | 0.039639 | / | 0.036683 |
| | = | 1.0806 |
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) |
| = | (324.177 / 2159.926) | / | (336.968 / 2231.053) |
| = | 0.150087 | / | 0.151035 |
| | = | 0.9937 |
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 - (307.209 + 82.241) / 3521.446) | / | (1 - (297.19 + 79.281) / 3512.411) |
| = | 0.889406 | / | 0.892817 |
| | = | 0.9962 |
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 |
| = | 2231.053 | / | 2159.926 |
| | = | 1.0329 |
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)) |
| = | (0 / (0 + 79.281)) | / | (0 / (0 + 82.241)) |
| = | 0 | / | 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) |
| = | (41.333 / 2231.053) | / | (41.616 / 2159.926) |
| = | 0.018526 | / | 0.019267 |
| | = | 0.9615 |
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) |
| = | ((551.742 + 455.389) / 3521.446) | / | ((627.27 + 423.589) / 3512.411) |
| = | 0.285999 | / | 0.299185 |
| | = | 0.9559 |
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 |
| = | (152.808 - 0 | - | 206.677) | / | 3521.446 |
| | = | -0.015297 |
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.
Magnum Bhd has a M-score of -2.43 suggests that the company is unlikely to be a manipulator.
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