Walmart Chile Beneish M-Score Historical Data
The historical data trend for Walmart Chile'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.
Walmart Chile Beneish M-Score Chart
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Walmart Chile Annual Data
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Walmart Chile Quarterly Data
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XSGO:WMTCL vs M, JWN, KSS: Beneish M-Score Comparison
For the Department Stores subindustry, Walmart Chile'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.
Walmart Chile Beneish M-Score vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Walmart Chile's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Walmart Chile's Beneish M-Score falls into.
Walmart Chile 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 Walmart Chile 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 * 1.0647 | + | 0.528 * 0.9511 | + | 0.404 * 0.9781 | + | 0.892 * 1.0862 | + | 0.115 * 0.9187 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0666 | + | 4.679 * -0.039855 | - | 0.327 * 0.9234 |
| = | -2.56 |
* 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 (Jun16) TTM: | Last Year (Jun15) TTM: |
Total Receivables was CLP387,297 Mil.
Revenue was 969846.431 + 972470.305 + 1063913.159 + 929626.545 = CLP3,935,856 Mil.
Gross Profit was 275117.353 + 264510.323 + 292381.685 + 259282.598 = CLP1,091,292 Mil.
Total Current Assets was CLP1,084,745 Mil.
Total Assets was CLP3,542,769 Mil.
Property, Plant and Equipment(Net PPE) was CLP1,254,730 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP105,200 Mil.
Selling, General, & Admin. Expense(SGA) was CLP277,062 Mil.
Total Current Liabilities was CLP1,041,331 Mil.
Long-Term Debt & Capital Lease Obligation was CLP14,048 Mil.
Net Income was 76973.756 + 42908.425 + 69631.442 + 182988.408 = CLP372,502 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = CLP0 Mil.
Cash Flow from Operations was 107217.895 + 128689.04 + 264723.523 + 13067.637 = CLP513,698 Mil.
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Total Receivables was CLP334,886 Mil.
Revenue was 927842.888 + 893059.87 + 945879.974 + 856643.308 = CLP3,623,426 Mil.
Gross Profit was 240719.435 + 239330.292 + 241992.448 + 233535.799 = CLP955,578 Mil.
Total Current Assets was CLP838,323 Mil.
Total Assets was CLP3,330,531 Mil.
Property, Plant and Equipment(Net PPE) was CLP1,335,660 Mil.
Depreciation, Depletion and Amortization(DDA) was CLP102,190 Mil.
Selling, General, & Admin. Expense(SGA) was CLP239,149 Mil.
Total Current Liabilities was CLP1,058,225 Mil.
Long-Term Debt & Capital Lease Obligation was CLP16,207 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) |
| = | (387297.167 / 3935856.44) | / | (334885.68 / 3623426.04) |
| = | 0.098402 | / | 0.092422 |
| | = | 1.0647 |
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) |
| = | (955577.974 / 3623426.04) | / | (1091291.959 / 3935856.44) |
| = | 0.263722 | / | 0.277269 |
| | = | 0.9511 |
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 - (1084745.478 + 1254730.262) / 3542768.969) | / | (1 - (838322.672 + 1335659.693) / 3330531.293) |
| = | 0.339648 | / | 0.347257 |
| | = | 0.9781 |
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 |
| = | 3935856.44 | / | 3623426.04 |
| | = | 1.0862 |
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)) |
| = | (102189.725 / (102189.725 + 1335659.693)) | / | (105199.627 / (105199.627 + 1254730.262)) |
| = | 0.071071 | / | 0.077357 |
| | = | 0.9187 |
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) |
| = | (277061.908 / 3935856.44) | / | (239149.187 / 3623426.04) |
| = | 0.070394 | / | 0.066001 |
| | = | 1.0666 |
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) |
| = | ((14047.955 + 1041331.333) / 3542768.969) | / | ((16206.848 + 1058225.231) / 3330531.293) |
| = | 0.297897 | / | 0.322601 |
| | = | 0.9234 |
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 |
| = | (372502.031 - 0 | - | 513698.095) | / | 3542768.969 |
| | = | -0.039855 |
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.
Walmart Chile has a M-score of -2.56 suggests that the company is unlikely to be a manipulator.
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