Golden House (XTAE:GOHO) Beneish M-Score : 0.00 (As of Mar. 05, 2025)

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What is Golden House 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 Golden House's Beneish M-Score or its related term are showing as below:

During the past 3 years, the highest Beneish M-Score of Golden House was 0.00. The lowest was 0.00. And the median was 0.00.

Golden House Beneish M-Score Historical Data

The historical data trend for Golden House'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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Golden House Beneish M-Score Chart

Golden House Annual Data

Trend

Dec21

Dec22

Dec23

Beneish M-Score

Golden House Quarterly Data
	Dec21	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial				-	-	-	-	-

Competitive Comparison of Golden House's Beneish M-Score

For the Medical Care Facilities subindustry, Golden House'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.

Golden House's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Golden House's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Golden House's Beneish M-Score falls into.

Golden House 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 Golden House 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 (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was ₪7.74 Mil.
Revenue was 9.616 + 9.09 + 11.915 + 19.445 = ₪50.07 Mil.
Gross Profit was 3.791 + 3.171 + 7.202 + 11.831 = ₪26.00 Mil.
Total Current Assets was ₪372.09 Mil.
Total Assets was ₪708.69 Mil.
Property, Plant and Equipment(Net PPE) was ₪7.82 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪0.65 Mil.
Selling, General, & Admin. Expense(SGA) was ₪7.66 Mil.
Total Current Liabilities was ₪131.38 Mil.
Long-Term Debt & Capital Lease Obligation was ₪63.25 Mil.
Net Income was 109.017 + 0.816 + 6.407 + 27.435 = ₪143.68 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₪0.00 Mil.
Cash Flow from Operations was 25.661 + -3.995 + 1.404 + 3.314 = ₪26.38 Mil.

Total Receivables was ₪0.00 Mil.
Revenue was 14.228 + 13.689 + 16.287 + 0 = ₪44.20 Mil.
Gross Profit was 6.105 + 5.623 + 8.811 + 0 = ₪20.54 Mil.
Total Current Assets was ₪0.00 Mil.
Total Assets was ₪0.00 Mil.
Property, Plant and Equipment(Net PPE) was ₪0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪1.12 Mil.
Selling, General, & Admin. Expense(SGA) was ₪10.45 Mil.
Total Current Liabilities was ₪0.00 Mil.
Long-Term Debt & Capital Lease Obligation was ₪0.00 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)
	=	(7.736 / 50.066)	/	(0 / 44.204)
	=	0.154516	/	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)
	=	(20.539 / 44.204)	/	(25.995 / 50.066)
	=	0.464641	/	0.519215
	=

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 - (372.086 + 7.824) / 708.692)	/	(1 - (0 + 0) / 0)
	=	0.463928	/
	=

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
	=	50.066	/	44.204
	=

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))
	=	(1.119 / (1.119 + 0))	/	(0.651 / (0.651 + 7.824))
	=	1	/	0.076814
	=

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)
	=	(7.655 / 50.066)	/	(10.45 / 44.204)
	=	0.152898	/	0.236404
	=

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)
	=	((63.253 + 131.384) / 708.692)	/	((0 + 0) / 0)
	=	0.274643	/
	=

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
	=	(143.675 - 0	-	26.384)	/	708.692
	=	0.165503

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.

Golden House Beneish M-Score Related Terms

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Golden House Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Golden House Ltd (XTAE:GOHO) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Moshe Dayan Street 66, Tel Aviv, ISR, 67320

Website

http://www.golden-house.co.il

Golden House Ltd provides assisted living services for elderly people. It also offers culture & social life services, conducts handcraft classes & workshops & nursing home operations, among others. It has more than hundred housing units of various sizes as well as public spaces including a lobby, spacious club, restaurant, coffee shop.

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