Puerto Ventanas Beneish M-Score Historical Data
The historical data trend for Puerto Ventanas'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.
Puerto Ventanas Beneish M-Score Chart
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Puerto Ventanas Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.31 |
-3.14 |
-2.42 |
-2.55 |
-1.86 |
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Puerto Ventanas 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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-1.61 |
-1.86 |
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-2.12 |
-2.14 |
Competitive Comparison of Puerto Ventanas's Beneish M-Score
For the Marine Shipping subindustry, Puerto Ventanas'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.
Puerto Ventanas's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Puerto Ventanas's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Puerto Ventanas's Beneish M-Score falls into.
Puerto Ventanas 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 Puerto Ventanas 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 * 1.1021 | + | 0.528 * 1.1535 | + | 0.404 * 1.0194 | + | 0.892 * 0.9944 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0527 | + | 4.679 * 0.043486 | - | 0.327 * 1.102 |
| = | -2.14 |
* 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 CLP65,959 Mil.
Revenue was 34808.008 + 34583.66 + 29501.345 + 36271.945 = CLP135,165 Mil.
Gross Profit was 7025.501 + 8175.177 + 4832.651 + 11382.395 = CLP31,416 Mil.
Total Current Assets was CLP105,621 Mil.
Total Assets was CLP373,120 Mil.
Property, Plant and Equipment(Net PPE) was CLP251,122 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP0 Mil.
Selling, General, & Admin. Expense(SGA) was CLP18,294 Mil.
Total Current Liabilities was CLP98,614 Mil.
Long-Term Debt & Capital Lease Obligation was CLP102,043 Mil.
Net Income was 649.475 + 2146.584 + -883.425 + 13580.483 = CLP15,493 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was 5647.113 + -5217.622 + 2424.182 + -3586.079 = CLP-732 Mil.
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Total Receivables was CLP60,188 Mil.
Revenue was 31786.555 + 33500.652 + 29489.784 + 41150.03 = CLP135,927 Mil.
Gross Profit was 7899.483 + 9031.755 + 5740.724 + 13768.986 = CLP36,441 Mil.
Total Current Assets was CLP92,759 Mil.
Total Assets was CLP320,696 Mil.
Property, Plant and Equipment(Net PPE) was CLP214,128 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP0 Mil.
Selling, General, & Admin. Expense(SGA) was CLP17,476 Mil.
Total Current Liabilities was CLP87,889 Mil.
Long-Term Debt & Capital Lease Obligation was CLP68,612 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) |
| = | (65959.228 / 135164.958) | / | (60187.875 / 135927.021) |
| = | 0.487991 | / | 0.442796 |
| | = | 1.1021 |
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) |
| = | (36440.948 / 135927.021) | / | (31415.724 / 135164.958) |
| = | 0.268092 | / | 0.232425 |
| | = | 1.1535 |
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 - (105620.838 + 251121.522) / 373119.775) | / | (1 - (92758.847 + 214128.494) / 320695.793) |
| = | 0.043893 | / | 0.043058 |
| | = | 1.0194 |
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 |
| = | 135164.958 | / | 135927.021 |
| | = | 0.9944 |
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 + 214128.494)) | / | (0 / (0 + 251121.522)) |
| = | 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) |
| = | (18294.412 / 135164.958) | / | (17476.108 / 135927.021) |
| = | 0.135349 | / | 0.12857 |
| | = | 1.0527 |
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) |
| = | ((102042.616 + 98613.668) / 373119.775) | / | ((68612.419 + 87889.116) / 320695.793) |
| = | 0.53778 | / | 0.488006 |
| | = | 1.102 |
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 |
| = | (15493.117 - 0 | - | -732.406) | / | 373119.775 |
| | = | 0.043486 |
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.
Puerto Ventanas has a M-score of -2.14 suggests that the company is unlikely to be a manipulator.
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