Clinica Las Condes (XSGO:LAS CONDES) Beneish M-Score : -0.68 (As of Mar. 02, 2025)

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What is Clinica Las Condes 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.

Warning Sign:

Beneish M-Score -0.68 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Clinica Las Condes's Beneish M-Score or its related term are showing as below:

XSGO:LAS CONDES' s Beneish M-Score Range Over the Past 10 Years
Min: -3.3 Med: -2.45 Max: -0.68
Current: -0.68

During the past 13 years, the highest Beneish M-Score of Clinica Las Condes was -0.68. The lowest was -3.30. And the median was -2.45.

Clinica Las Condes Beneish M-Score Historical Data

The historical data trend for Clinica Las Condes'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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Clinica Las Condes Beneish M-Score Chart

Clinica Las Condes Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.60

-2.38

-2.71

-3.10

-2.36

Clinica Las Condes Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-3.12	-2.36	-2.25	-2.21	-0.68

Competitive Comparison of Clinica Las Condes's Beneish M-Score

For the Medical Care Facilities subindustry, Clinica Las Condes'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.

Clinica Las Condes's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Clinica Las Condes's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Clinica Las Condes's Beneish M-Score falls into.

Clinica Las Condes 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 Clinica Las Condes 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 * 1.3576

0.528 * 1.0629

0.404 * 1.0006

0.892 * 0.8824

0.115 * 14.4963

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.6505

4.679 * -0.012031

0.327 * 1.038

-0.68

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was CLP124,753 Mil.
Revenue was 39519.148 + 46523.63 + 47952.497 + 52748.354 = CLP186,744 Mil.
Gross Profit was 1983.71 + 14672.2 + 12440.802 + 23499.965 = CLP52,597 Mil.
Total Current Assets was CLP154,004 Mil.
Total Assets was CLP566,942 Mil.
Property, Plant and Equipment(Net PPE) was CLP373,923 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP354 Mil.
Selling, General, & Admin. Expense(SGA) was CLP16,512 Mil.
Total Current Liabilities was CLP98,631 Mil.
Long-Term Debt & Capital Lease Obligation was CLP157,546 Mil.
Net Income was -16001.237 + -44.541 + 513.553 + 5454.139 = CLP-10,078 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was -6913.839 + -2502.425 + 7787.925 + -1628.955 = CLP-3,257 Mil.

Total Receivables was CLP104,144 Mil.
Revenue was 49185.259 + 48965.954 + 51363.258 + 62121.643 = CLP211,636 Mil.
Gross Profit was 9389.552 + 10672.81 + 13232.135 + 30063.416 = CLP63,358 Mil.
Total Current Assets was CLP133,442 Mil.
Total Assets was CLP550,513 Mil.
Property, Plant and Equipment(Net PPE) was CLP379,209 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP5,267 Mil.
Selling, General, & Admin. Expense(SGA) was CLP28,769 Mil.
Total Current Liabilities was CLP75,457 Mil.
Long-Term Debt & Capital Lease Obligation was CLP164,200 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)
	=	(124752.814 / 186743.629)	/	(104144.268 / 211636.114)
	=	0.668043	/	0.492091
	=	1.3576

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)
	=	(63357.913 / 211636.114)	/	(52596.677 / 186743.629)
	=	0.299372	/	0.281652
	=	1.0629

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 - (154003.607 + 373922.983) / 566941.828)	/	(1 - (133442.176 + 379209.06) / 550513.302)
	=	0.068817	/	0.068776
	=	1.0006

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
	=	186743.629	/	211636.114
	=	0.8824

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))
	=	(5267.107 / (5267.107 + 379209.06))	/	(353.53 / (353.53 + 373922.983))
	=	0.013699	/	0.000945
	=	14.4963

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)
	=	(16511.801 / 186743.629)	/	(28769.035 / 211636.114)
	=	0.08842	/	0.135936
	=	0.6505

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)
	=	((157545.972 + 98631.211) / 566941.828)	/	((164199.993 + 75456.67) / 550513.302)
	=	0.451858	/	0.435333
	=	1.038

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
	=	(-10078.086 - 0	-	-3257.294)	/	566941.828
	=	-0.012031

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.

Clinica Las Condes has a M-score of -0.68 signals that the company is likely to be a manipulator.

Clinica Las Condes Beneish M-Score Related Terms

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Clinica Las Condes Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Clinica Las Condes SA (XSGO:LAS CONDES) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

The Fontecilla 441, Santiago, CHL

Website

https://www.clinicalascondes.cl

Clinica Las Condes SA provides clinical medical services specializing in emergency, diagnostic, clinical support, and medical consultation services. It provides medical and surgical hospitalization, transplant units, units of intensive and intermediate care; for adults, pediatric and neonatology, pavilionssurgical, post-operative recovery, radiology, and other related services. The company along with its subsidiaries, operates in the following segments; Hospitalization, Outpatient, Insurance, and Others. A majority of its revenue is derived from the Hospitalization segment which corresponds to services provided to patients who are hospitalized and occupy bed space.

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