GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » PetroTX LP (XTAE:PTX) » Definitions » Beneish M-Score

PetroTX LP (XTAE:PTX) Beneish M-Score : -2.40 (As of Dec. 14, 2024)


View and export this data going back to 2008. Start your Free Trial

What is PetroTX LP 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.

Good Sign:

Beneish M-Score -2.4 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for PetroTX LP's Beneish M-Score or its related term are showing as below:

XTAE:PTX' s Beneish M-Score Range Over the Past 10 Years
Min: -4.66   Med: -1.89   Max: 85.01
Current: -2.4

During the past 11 years, the highest Beneish M-Score of PetroTX LP was 85.01. The lowest was -4.66. And the median was -1.89.


PetroTX LP Beneish M-Score Historical Data

The historical data trend for PetroTX LP'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.

PetroTX LP Beneish M-Score Chart

PetroTX LP Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -1.26 1.80 -3.15 -3.21 -1.69

PetroTX LP Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -3.25 -1.69 0.79 -0.84 -2.40

Competitive Comparison of PetroTX LP's Beneish M-Score

For the Oil & Gas E&P subindustry, PetroTX LP'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.


PetroTX LP's Beneish M-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, PetroTX LP's Beneish M-Score distribution charts can be found below:

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



PetroTX LP 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 PetroTX LP 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 * 1.4967+0.528 * 2.2795+0.404 * 1.0264+0.892 * 0.5137+0.115 * 1
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.2241+4.679 * -0.123613-0.327 * 1.0354
=-2.40

* 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 ₪4.80 Mil.
Revenue was 5.115 + 5.014 + 5.514 + 7.164 = ₪22.81 Mil.
Gross Profit was 0.137 + 0.043 + 0.083 + 1.37 = ₪1.63 Mil.
Total Current Assets was ₪10.64 Mil.
Total Assets was ₪76.25 Mil.
Property, Plant and Equipment(Net PPE) was ₪0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪3.28 Mil.
Selling, General, & Admin. Expense(SGA) was ₪2.72 Mil.
Total Current Liabilities was ₪23.04 Mil.
Long-Term Debt & Capital Lease Obligation was ₪17.48 Mil.
Net Income was -1.093 + -3.986 + -1.305 + 0.453 = ₪-5.93 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₪0.00 Mil.
Cash Flow from Operations was -0.467 + -0.956 + 2.8 + 2.117 = ₪3.49 Mil.
Total Receivables was ₪6.24 Mil.
Revenue was 7.074 + 7.131 + 10.841 + 19.349 = ₪44.40 Mil.
Gross Profit was 0.845 + -0.651 + 0.841 + 6.211 = ₪7.25 Mil.
Total Current Assets was ₪13.20 Mil.
Total Assets was ₪81.62 Mil.
Property, Plant and Equipment(Net PPE) was ₪0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was ₪3.69 Mil.
Selling, General, & Admin. Expense(SGA) was ₪4.33 Mil.
Total Current Liabilities was ₪22.00 Mil.
Long-Term Debt & Capital Lease Obligation was ₪19.89 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)
=(4.795 / 22.807) / (6.236 / 44.395)
=0.210242 / 0.140466
=1.4967

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)
=(7.246 / 44.395) / (1.633 / 22.807)
=0.163217 / 0.071601
=2.2795

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 - (10.64 + 0) / 76.246) / (1 - (13.195 + 0) / 81.62)
=0.860452 / 0.838336
=1.0264

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
=22.807 / 44.395
=0.5137

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))
=(3.691 / (3.691 + 0)) / (3.279 / (3.279 + 0))
=1 / 1
=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)
=(2.721 / 22.807) / (4.327 / 44.395)
=0.119305 / 0.097466
=1.2241

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)
=((17.476 + 23.037) / 76.246) / ((19.892 + 21.995) / 81.62)
=0.531346 / 0.513195
=1.0354

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
=(-5.931 - 0 - 3.494) / 76.246
=-0.123613

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.

PetroTX LP has a M-score of -2.40 suggests that the company is unlikely to be a manipulator.


PetroTX LP Beneish M-Score Related Terms

Thank you for viewing the detailed overview of PetroTX LP's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.


PetroTX LP Business Description

Traded in Other Exchanges
N/A
Address
Menachem Begin 144/A, Midtown Tower, Tel Aviv, ISR, 6492124
PetroTX LP is engaged in oil and gas investments. The company develops an investment portfolio through the acquisitions of oil and gas producing properties in the United States. It also seeks for expansion through additional drilling or completion activities. Its properties portfolio consists of assets in the states of Texas and Mississippi.

PetroTX LP Headlines

No Headlines