SA Vinanta Rita (XSGO:SANTA RITA) Beneish M-Score : -2.55 (As of Jul. 03, 2025)

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What is SA Vinanta Rita 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.

Good Sign:

Beneish M-Score -2.55 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for SA Vinanta Rita's Beneish M-Score or its related term are showing as below:

XSGO:SANTA RITA' s Beneish M-Score Range Over the Past 10 Years
Min: -2.83 Med: -2.49 Max: -2.1
Current: -2.55

During the past 13 years, the highest Beneish M-Score of SA Vinanta Rita was -2.10. The lowest was -2.83. And the median was -2.49.

SA Vinanta Rita Beneish M-Score Historical Data

The historical data trend for SA Vinanta Rita'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 Vinanta Rita Beneish M-Score Chart

SA Vinanta Rita Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Beneish M-Score

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-2.72

-2.20

-2.52

-2.63

-2.83

SA Vinanta Rita Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Beneish M-Score	Get a 7-Day Free Trial															-2.39	-2.66	-2.80	-2.83	-2.55

Competitive Comparison of SA Vinanta Rita's Beneish M-Score

For the Beverages - Wineries & Distilleries subindustry, SA Vinanta Rita'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 Vinanta Rita's Beneish M-Score Distribution in the Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, SA Vinanta Rita's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where SA Vinanta Rita's Beneish M-Score falls into.

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SA Vinanta Rita 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 Vinanta Rita 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 * 1.0366

0.528 * 1.0102

0.404 * 1.0309

0.892 * 0.9379

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0886

4.679 * -0.01582

0.327 * 0.934

-2.55

This Year (Mar25) TTM:

Last Year (Mar24) TTM:

Total Receivables was CLP47,065 Mil.
Revenue was 31129.59 + 38250.921 + 44255.211 + 45539.825 = CLP159,176 Mil.
Gross Profit was 8235.598 + 12943.818 + 14908.824 + 15678.71 = CLP51,767 Mil.
Total Current Assets was CLP158,715 Mil.
Total Assets was CLP346,350 Mil.
Property, Plant and Equipment(Net PPE) was CLP128,943 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP0 Mil.
Selling, General, & Admin. Expense(SGA) was CLP51,724 Mil.
Total Current Liabilities was CLP96,551 Mil.
Long-Term Debt & Capital Lease Obligation was CLP30,356 Mil.
Net Income was -3285.696 + 4190.525 + -1317.458 + 2101.773 = CLP1,689 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was -5178.615 + 12378.27 + 8793.166 + -8824.514 = CLP7,168 Mil.

Total Receivables was CLP48,408 Mil.
Revenue was 31591.52 + 42810.556 + 46048.669 + 49256.568 = CLP169,707 Mil.
Gross Profit was 11534.796 + 12152.685 + 15714.646 + 16355.606 = CLP55,758 Mil.
Total Current Assets was CLP160,868 Mil.
Total Assets was CLP354,649 Mil.
Property, Plant and Equipment(Net PPE) was CLP135,486 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP0 Mil.
Selling, General, & Admin. Expense(SGA) was CLP50,659 Mil.
Total Current Liabilities was CLP88,085 Mil.
Long-Term Debt & Capital Lease Obligation was CLP51,041 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)
	=	(47064.932 / 159175.547)	/	(48407.665 / 169707.313)
	=	0.295679	/	0.285242
	=	1.0366

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)
	=	(55757.733 / 169707.313)	/	(51766.95 / 159175.547)
	=	0.328552	/	0.325219
	=	1.0102

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 - (158715.481 + 128942.797) / 346349.975)	/	(1 - (160868.104 + 135486.126) / 354649.191)
	=	0.169458	/	0.164374
	=	1.0309

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
	=	159175.547	/	169707.313
	=	0.9379

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 + 135486.126))	/	(0 / (0 + 128942.797))
	=	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)
	=	(51723.975 / 159175.547)	/	(50659.47 / 169707.313)
	=	0.324949	/	0.298511
	=	1.0886

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)
	=	((30356.203 + 96551.105) / 346349.975)	/	((51040.673 + 88084.61) / 354649.191)
	=	0.366414	/	0.39229
	=	0.934

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
	=	(1689.144 - 0	-	7168.307)	/	346349.975
	=	-0.01582

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 Vinanta Rita has a M-score of -2.55 suggests that the company is unlikely to be a manipulator.

SA Vinanta Rita Beneish M-Score Related Terms

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SA Vinanta Rita Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » SA Vina Santa Rita (XSGO:SANTA RITA) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Avda Apoquindo No. 3669, Office 601, Santiago, CHL

Website

https://www.santarita.cl

SA Vina Santa Rita is engaged in the production and distribution of wines. The company offers its wine products through various brands such as Casa Real, Bougainville, Triple C, Floresta, Medalla Real Reserva, SR Secret Reserve, 120 Reserva Especial, and Tres Medallas among others. It also operates in the tourism sector offering visitors to explore vineyards, museums, wine shops, and historical sites. In addition, it also operates Hotel Casa Real, and restaurants. The company generates maximum revenue from its wine business. Along with the domestic markets, it also exports its products to other markets such as the United States of America, Ireland, Brazil, Canada, Scandinavia, the United Kingdom, Korea, Japan, China, and the Netherlands.

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