Amhult 2 AB Beneish M-Score Historical Data
The historical data trend for Amhult 2 AB'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.
Amhult 2 AB Beneish M-Score Chart
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Amhult 2 AB Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.15 |
-1.96 |
-1.99 |
-2.93 |
-2.22 |
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Amhult 2 AB 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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-2.32 |
-2.22 |
-1.20 |
-1.93 |
-2.46 |
Competitive Comparison of Amhult 2 AB's Beneish M-Score
For the Real Estate - Diversified subindustry, Amhult 2 AB'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.
Amhult 2 AB's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Amhult 2 AB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Amhult 2 AB's Beneish M-Score falls into.
Amhult 2 AB 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 Amhult 2 AB 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 * 0.8191 | + | 0.528 * 0.9749 | + | 0.404 * 1.0036 | + | 0.892 * 1.1353 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9749 | + | 4.679 * -0.00402 | - | 0.327 * 0.7324 |
| = | -2.46 |
* 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 kr8.78 Mil.
Revenue was 23.901 + 23.311 + 23.017 + 21.457 = kr91.69 Mil.
Gross Profit was 19.983 + 19.218 + 18.174 + 17.416 = kr74.79 Mil.
Total Current Assets was kr28.38 Mil.
Total Assets was kr1,848.86 Mil.
Property, Plant and Equipment(Net PPE) was kr0.46 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.00 Mil.
Selling, General, & Admin. Expense(SGA) was kr10.13 Mil.
Total Current Liabilities was kr180.68 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.00 Mil.
Net Income was 6.059 + 4.638 + 4.482 + 10.628 = kr25.81 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.00 Mil.
Cash Flow from Operations was 1.836 + 6.408 + 10.218 + 14.778 = kr33.24 Mil.
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Total Receivables was kr9.44 Mil.
Revenue was 20.877 + 20.364 + 20.003 + 19.513 = kr80.76 Mil.
Gross Profit was 17.347 + 15.833 + 15.36 + 15.681 = kr64.22 Mil.
Total Current Assets was kr32.55 Mil.
Total Assets was kr1,714.79 Mil.
Property, Plant and Equipment(Net PPE) was kr0.27 Mil.
Depreciation, Depletion and Amortization(DDA) was kr0.00 Mil.
Selling, General, & Admin. Expense(SGA) was kr9.15 Mil.
Total Current Liabilities was kr228.80 Mil.
Long-Term Debt & Capital Lease Obligation was kr0.00 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) |
| = | (8.782 / 91.686) | / | (9.444 / 80.757) |
| = | 0.095783 | / | 0.116943 |
| | = | 0.8191 |
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) |
| = | (64.221 / 80.757) | / | (74.791 / 91.686) |
| = | 0.795238 | / | 0.81573 |
| | = | 0.9749 |
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 - (28.383 + 0.463) / 1848.856) | / | (1 - (32.551 + 0.269) / 1714.792) |
| = | 0.984398 | / | 0.980861 |
| | = | 1.0036 |
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 |
| = | 91.686 | / | 80.757 |
| | = | 1.1353 |
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 + 0.269)) | / | (0 / (0 + 0.463)) |
| = | 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) |
| = | (10.125 / 91.686) | / | (9.148 / 80.757) |
| = | 0.110431 | / | 0.113278 |
| | = | 0.9749 |
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 + 180.675) / 1848.856) | / | ((0 + 228.801) / 1714.792) |
| = | 0.097723 | / | 0.133428 |
| | = | 0.7324 |
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 |
| = | (25.807 - 0 | - | 33.24) | / | 1848.856 |
| | = | -0.00402 |
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.
Amhult 2 AB has a M-score of -2.46 suggests that the company is unlikely to be a manipulator.
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