Litoral Transmision Beneish M-Score Historical Data
The historical data trend for Litoral Transmision'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.
Litoral Transmision Beneish M-Score Chart
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Litoral Transmision Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-2.22 |
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Litoral Transmision Quarterly Data
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Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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- |
-2.22 |
-2.11 |
-2.37 |
-2.66 |
Competitive Comparison of Litoral Transmision's Beneish M-Score
For the Utilities - Independent Power Producers subindustry, Litoral Transmision'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.
Litoral Transmision's Beneish M-Score Distribution in the Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Litoral Transmision's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Litoral Transmision's Beneish M-Score falls into.
Litoral Transmision 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 Litoral Transmision 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 * 1.3232 | + | 0.528 * 1.1315 | + | 0.404 * 0.6758 | + | 0.892 * 0.7889 | + | 0.115 * 1.2332 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.292 | + | 4.679 * -0.047514 | - | 0.327 * 0.9364 |
| = | -2.66 |
* 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 CLP1,408 Mil.
Revenue was 342.4 + 345.676 + 314.607 + 284.928 = CLP1,288 Mil.
Gross Profit was 214.721 + 277.361 + 246.405 + 199.094 = CLP938 Mil.
Total Current Assets was CLP1,531 Mil.
Total Assets was CLP4,571 Mil.
Property, Plant and Equipment(Net PPE) was CLP2,902 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP23 Mil.
Selling, General, & Admin. Expense(SGA) was CLP102 Mil.
Total Current Liabilities was CLP2,225 Mil.
Long-Term Debt & Capital Lease Obligation was CLP0 Mil.
Net Income was 136.886 + 178.903 + 151.321 + 123.094 = CLP590 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was 219.803 + 252.898 + -253.874 + 588.569 = CLP807 Mil.
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Total Receivables was CLP1,348 Mil.
Revenue was 240.623 + 248.031 + 255.329 + 888.198 = CLP1,632 Mil.
Gross Profit was 166.292 + 179.789 + 186.071 + 812.65 = CLP1,345 Mil.
Total Current Assets was CLP1,463 Mil.
Total Assets was CLP3,971 Mil.
Property, Plant and Equipment(Net PPE) was CLP2,330 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP23 Mil.
Selling, General, & Admin. Expense(SGA) was CLP100 Mil.
Total Current Liabilities was CLP2,064 Mil.
Long-Term Debt & Capital Lease Obligation was CLP0 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) |
| = | (1407.52 / 1287.611) | / | (1348.425 / 1632.181) |
| = | 1.093125 | / | 0.826149 |
| | = | 1.3232 |
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) |
| = | (1344.802 / 1632.181) | / | (937.581 / 1287.611) |
| = | 0.823929 | / | 0.728155 |
| | = | 1.1315 |
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 - (1530.956 + 2901.898) / 4571.094) | / | (1 - (1462.872 + 2330.082) / 3970.63) |
| = | 0.030242 | / | 0.044748 |
| | = | 0.6758 |
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 |
| = | 1287.611 | / | 1632.181 |
| | = | 0.7889 |
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)) |
| = | (22.948 / (22.948 + 2330.082)) | / | (23.134 / (23.134 + 2901.898)) |
| = | 0.009753 | / | 0.007909 |
| | = | 1.2332 |
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) |
| = | (102.171 / 1287.611) | / | (100.239 / 1632.181) |
| = | 0.079349 | / | 0.061414 |
| | = | 1.292 |
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 + 2224.758) / 4571.094) | / | ((0 + 2063.71) / 3970.63) |
| = | 0.486701 | / | 0.519744 |
| | = | 0.9364 |
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 |
| = | (590.204 - 0 | - | 807.396) | / | 4571.094 |
| | = | -0.047514 |
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.
Litoral Transmision has a M-score of -2.66 suggests that the company is unlikely to be a manipulator.
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