Bonei Hatichon Civil Engineering & Infrastructures (XTAE:BOTI) Beneish M-Score : 0.00 (As of May. 24, 2024)

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What is Bonei Hatichon Civil Engineering & Infrastructures 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 Bonei Hatichon Civil Engineering & Infrastructures's Beneish M-Score or its related term are showing as below:

During the past 6 years, the highest Beneish M-Score of Bonei Hatichon Civil Engineering & Infrastructures was 0.00. The lowest was 0.00. And the median was 0.00.

Bonei Hatichon Civil Engineering & Infrastructures Beneish M-Score Historical Data

The historical data trend for Bonei Hatichon Civil Engineering & Infrastructures'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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Bonei Hatichon Civil Engineering & Infrastructures Beneish M-Score Chart

Bonei Hatichon Civil Engineering & Infrastructures Annual Data

Trend

Dec16

Dec17

Dec18

Dec20

Dec21

Dec22

Beneish M-Score

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Bonei Hatichon Civil Engineering & Infrastructures Quarterly Data
	Dec16	Dec17	Dec18	Dec20	Dec21	Mar22	Jun22	Dec22	Mar23	Jun23
Beneish M-Score	Get a 7-Day Free Trial					-	-	-	-	-

Competitive Comparison of Bonei Hatichon Civil Engineering & Infrastructures's Beneish M-Score

For the Real Estate Services subindustry, Bonei Hatichon Civil Engineering & Infrastructures'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.

Bonei Hatichon Civil Engineering & Infrastructures's Beneish M-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Bonei Hatichon Civil Engineering & Infrastructures's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Bonei Hatichon Civil Engineering & Infrastructures's Beneish M-Score falls into.

Bonei Hatichon Civil Engineering & Infrastructures 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 Bonei Hatichon Civil Engineering & Infrastructures 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Jun23) TTM:

Last Year (Mar22) TTM:

Total Receivables was ₪195.5 Mil.
Revenue was 59.532 + 105.113 + 0 + 148.232 = ₪312.9 Mil.
Gross Profit was 12.366 + 16.342 + 0 + 36.533 = ₪65.2 Mil.
Total Current Assets was ₪990.2 Mil.
Total Assets was ₪1,086.5 Mil.
Property, Plant and Equipment(Net PPE) was ₪20.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪5.0 Mil.
Selling, General, & Admin. Expense(SGA) was ₪19.6 Mil.
Total Current Liabilities was ₪844.6 Mil.
Long-Term Debt & Capital Lease Obligation was ₪8.9 Mil.
Net Income was 4.522 + 5.207 + 0 + 18.69 = ₪28.4 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₪0.0 Mil.
Cash Flow from Operations was -66.743 + -44.426 + 0 + 11.641 = ₪-99.5 Mil.

Total Receivables was ₪0.0 Mil.
Revenue was 127.212 + 0 + 0 + 0 = ₪127.2 Mil.
Gross Profit was 29.617 + 0 + 0 + 0 = ₪29.6 Mil.
Total Current Assets was ₪0.0 Mil.
Total Assets was ₪0.0 Mil.
Property, Plant and Equipment(Net PPE) was ₪0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪1.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₪6.1 Mil.
Total Current Liabilities was ₪0.0 Mil.
Long-Term Debt & Capital Lease Obligation was ₪0.0 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)
	=	(195.529 / 312.877)	/	(0 / 127.212)
	=	0.624939	/	0
	=

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)
	=	(29.617 / 127.212)	/	(65.241 / 312.877)
	=	0.232816	/	0.20852
	=

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 - (990.18 + 20.789) / 1086.523)	/	(1 - (0 + 0) / 0)
	=	0.069537	/
	=

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
	=	312.877	/	127.212
	=

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))
	=	(1.629 / (1.629 + 0))	/	(5.035 / (5.035 + 20.789))
	=	1	/	0.194974
	=

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)
	=	(19.602 / 312.877)	/	(6.071 / 127.212)
	=	0.062651	/	0.047723
	=

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)
	=	((8.856 + 844.633) / 1086.523)	/	((0 + 0) / 0)
	=	0.785523	/
	=

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
	=	(28.419 - 0	-	-99.528)	/	1086.523
	=	0.117758

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.

Bonei Hatichon Civil Engineering & Infrastructures Beneish M-Score Related Terms

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Bonei Hatichon Civil Engineering & Infrastructures (XTAE:BOTI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Bonei Hatichon Civil Engineering & Infrastructures Ltd (XTAE:BOTI) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

Boney Hatihon 26 HaRokmim Street, Building B, Floor 5, PO Box 613, Holon, ISR, 8122504

Website

http://www.boh.co.il

Bonei Hatichon Civil Engineering & Infrastructures Ltd. provides construction and real estate services. It is engaged in initiating, developing, marketing and managing residential, luxury and commercial development.

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