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Precious Woods Holding AG (XSWX:PRWN) Beneish M-Score : 0.00 (As of Jun. 19, 2025)


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What is Precious Woods Holding AG 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.

The historical rank and industry rank for Precious Woods Holding AG's Beneish M-Score or its related term are showing as below:

During the past 11 years, the highest Beneish M-Score of Precious Woods Holding AG was 0.00. The lowest was 0.00. And the median was 0.00.

Precious Woods Holding AG Beneish M-Score Historical Data

The historical data trend for Precious Woods Holding AG'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.

* Premium members only.

Precious Woods Holding AG Beneish M-Score Chart

Precious Woods Holding AG Annual Data
Trend Dec03 Dec04 Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.12 - - -3.93 -3.47

Precious Woods Holding AG Semi-Annual Data
Dec09 Jun10 Dec10 Jun11 Dec11 Jun12 Dec12
Beneish M-Score Get a 7-Day Free Trial - - -3.93 - -3.47

Competitive Comparison of Precious Woods Holding AG's Beneish M-Score

For the Lumber & Wood Production subindustry, Precious Woods Holding AG'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.

Precious Woods Holding AG's Beneish M-Score Distribution in the Forest Products Industry

For the Forest Products industry and Basic Materials sector, Precious Woods Holding AG's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Precious Woods Holding AG's Beneish M-Score falls into.


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Precious Woods Holding AG 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 Precious Woods Holding AG 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+0.528 * 0.2828+0.404 * 0.7378+0.892 * 0.628+0.115 * 1.1751
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * -0.101649-0.327 * 1.0821
=-3.61

* 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 (Dec12) TTM:Last Year (Dec11) TTM:
Total Receivables was CHF0.00 Mil.
Revenue was CHF40.43 Mil.
Gross Profit was CHF20.93 Mil.
Total Current Assets was CHF35.09 Mil.
Total Assets was CHF107.58 Mil.
Property, Plant and Equipment(Net PPE) was CHF56.20 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF7.31 Mil.
Selling, General, & Admin. Expense(SGA) was CHF0.00 Mil.
Total Current Liabilities was CHF19.40 Mil.
Long-Term Debt & Capital Lease Obligation was CHF20.56 Mil.
Net Income was CHF-16.08 Mil.
Gross Profit was CHF0.00 Mil.
Cash Flow from Operations was CHF-5.14 Mil.
 Total Receivables was CHF0.00 Mil.
Revenue was CHF64.38 Mil.
Gross Profit was CHF9.42 Mil.
Total Current Assets was CHF46.73 Mil.
Total Assets was CHF135.71 Mil.
Property, Plant and Equipment(Net PPE) was CHF61.14 Mil.
Depreciation, Depletion and Amortization(DDA) was CHF9.56 Mil.
Selling, General, & Admin. Expense(SGA) was CHF17.72 Mil.
Total Current Liabilities was CHF21.16 Mil.
Long-Term Debt & Capital Lease Obligation was CHF25.42 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)
=(0 / 40.432) / (0 / 64.38)
=0 / 0
=1

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)
=(9.424 / 64.38) / (20.931 / 40.432)
=0.146381 / 0.517684
=0.2828

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 - (35.092 + 56.2) / 107.576) / (1 - (46.727 + 61.141) / 135.711)
=0.151372 / 0.205164
=0.7378

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
=40.432 / 64.38
=0.628

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))
=(9.562 / (9.562 + 61.141)) / (7.309 / (7.309 + 56.2))
=0.135242 / 0.115086
=1.1751

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)
=(0 / 40.432) / (17.724 / 64.38)
=0 / 0.275303
=0

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)
=((20.561 + 19.395) / 107.576) / ((25.424 + 21.156) / 135.711)
=0.371421 / 0.343229
=1.0821

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
=(-16.075 - 0 - -5.14) / 107.576
=-0.101649

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.

Precious Woods Holding AG has a M-score of -3.61 suggests that the company is unlikely to be a manipulator.

Precious Woods Holding AG Beneish M-Score Related Terms

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