SA de Deportes Club de Golfntiago (XSGO:GOLF) Beneish M-Score : 0.00 (As of Jun. 23, 2024)

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What is SA de Deportes Club de Golfntiago 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 SA de Deportes Club de Golfntiago's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of SA de Deportes Club de Golfntiago was 0.00. The lowest was 0.00. And the median was 0.00.

SA de Deportes Club de Golfntiago Beneish M-Score Historical Data

The historical data trend for SA de Deportes Club de Golfntiago'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.

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SA de Deportes Club de Golfntiago Beneish M-Score Chart

SA de Deportes Club de Golfntiago Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Beneish M-Score

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SA de Deportes Club de Golfntiago Semi-Annual Data
	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11
Beneish M-Score	Get a 7-Day Free Trial			-	-	-	-	-

Competitive Comparison of SA de Deportes Club de Golfntiago's Beneish M-Score

For the Leisure subindustry, SA de Deportes Club de Golfntiago'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.

SA de Deportes Club de Golfntiago's Beneish M-Score Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, SA de Deportes Club de Golfntiago's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where SA de Deportes Club de Golfntiago's Beneish M-Score falls into.

SA de Deportes Club de Golfntiago 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 SA de Deportes Club de Golfntiago 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 (Dec11) TTM:

Last Year (Dec10) TTM:

Total Receivables was CLP197.42 Mil.
Revenue was CLP0.00 Mil.
Gross Profit was CLP0.00 Mil.
Total Current Assets was CLP197.67 Mil.
Total Assets was CLP407.66 Mil.
Property, Plant and Equipment(Net PPE) was CLP209.99 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP1.70 Mil.
Selling, General, & Admin. Expense(SGA) was CLP161.96 Mil.
Total Current Liabilities was CLP108.49 Mil.
Long-Term Debt & Capital Lease Obligation was CLP0.00 Mil.
Net Income was CLP183.74 Mil.
Gross Profit was CLP0.00 Mil.
Cash Flow from Operations was CLP0.09 Mil.

Total Receivables was CLP29.49 Mil.
Revenue was CLP0.00 Mil.
Gross Profit was CLP0.00 Mil.
Total Current Assets was CLP29.65 Mil.
Total Assets was CLP241.42 Mil.
Property, Plant and Equipment(Net PPE) was CLP211.77 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP1.70 Mil.
Selling, General, & Admin. Expense(SGA) was CLP177.93 Mil.
Total Current Liabilities was CLP126.00 Mil.
Long-Term Debt & Capital Lease Obligation was CLP0.00 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)
	=	(197.417 / 0)	/	(29.488 / 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)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

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 - (197.672 + 209.985) / 407.657)	/	(1 - (29.654 + 211.768) / 241.422)
	=	-0	/	0
	=

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
	=	0	/	0
	=

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))
	=	(1.701 / (1.701 + 211.768))	/	(1.701 / (1.701 + 209.985))
	=	0.007968	/	0.008035
	=

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)
	=	(161.959 / 0)	/	(177.929 / 0)
	=		/
	=

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 + 108.493) / 407.657)	/	((0 + 125.995) / 241.422)
	=	0.266138	/	0.521887
	=

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
	=	(183.737 - 0	-	0.089)	/	407.657
	=	0.450496

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.

SA de Deportes Club de Golfntiago Beneish M-Score Related Terms

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SA de Deportes Club de Golfntiago (XSGO:GOLF) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » SA de Deportes Club de Golf Santiago (XSGO:GOLF) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Avenida Presidente Riesco 3700, Las Condes, Santiago, CHL

Website

http://www.golflosleones.cl

SA de Deportes Club de Golf Santiago is engaged in the leisure and recreational industry. The Company's main activities are promotion of sports and the operation of Club de Golf los Leones, a private golf club located in Santiago. Its activities include fitness center, restaurants, nursery school.