Muncy Columbia Financial (Muncy Columbia Financial) Beneish M-Score : -562.85 (As of May. 13, 2024)

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What is Muncy Columbia Financial Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -562.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

CCFN' s Beneish M-Score Range Over the Past 10 Years
Min: -562.85 Med: -2.26 Max: -1.47
Current: -562.85

During the past 13 years, the highest Beneish M-Score of Muncy Columbia Financial was -1.47. The lowest was -562.85. And the median was -2.26.

Muncy Columbia Financial 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 Muncy Columbia Financial 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 * 2.2555

0.528 * 1

0.404 * 0.9964

0.892 * 1.0699

0.115 * 1.4738

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0572

4.679 * -0.002252

0.327 * 1718.48

-562.85

* 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 (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $5.36 Mil.
Revenue was $30.38 Mil.
Gross Profit was $30.38 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $1,639.78 Mil.
Property, Plant and Equipment(Net PPE) was $27.57 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.97 Mil.
Selling, General, & Admin. Expense(SGA) was $12.42 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $70.45 Mil.
Net Income was $3.39 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $7.08 Mil.

Total Receivables was $2.22 Mil.
Revenue was $28.40 Mil.
Gross Profit was $28.40 Mil.
Total Current Assets was $0.00 Mil.
Total Assets was $944.01 Mil.
Property, Plant and Equipment(Net PPE) was $12.51 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.66 Mil.
Selling, General, & Admin. Expense(SGA) was $10.98 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $0.02 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)
	=	(5.362 / 30.383)	/	(2.222 / 28.398)
	=	0.17648	/	0.078245
	=	2.2555

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)
	=	(28.398 / 28.398)	/	(30.383 / 30.383)
	=	1	/	1
	=	1

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 - (0 + 27.569) / 1639.779)	/	(1 - (0 + 12.514) / 944.014)
	=	0.983187	/	0.986744
	=	0.9964

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
	=	30.383	/	28.398
	=	1.0699

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))
	=	(0.662 / (0.662 + 12.514))	/	(0.973 / (0.973 + 27.569))
	=	0.050243	/	0.03409
	=	1.4738

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)
	=	(12.422 / 30.383)	/	(10.982 / 28.398)
	=	0.408847	/	0.386717
	=	1.0572

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)
	=	((70.448 + 0) / 1639.779)	/	((0.024 + 0) / 944.014)
	=	0.042962	/	2.5E-5
	=	1718.48

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
	=	(3.387 - 0	-	7.079)	/	1639.779
	=	-0.002252

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.

Muncy Columbia Financial has a M-score of -562.85 suggests that the company is unlikely to be a manipulator.

Muncy Columbia Financial Beneish M-Score Related Terms

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Muncy Columbia Financial (Muncy Columbia Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Muncy Columbia Financial Corp (OTCPK:CCFN) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

232 East Street, P.O. Box 240, Bloomsburg, PA, USA, 17815

Website

https://www.journeybank.com

Muncy Columbia Financial Corp is a registered financial holding company. It has one subsidiary bank, Journey Bank, serving individuals, families, nonprofits and business clients throughout Clinton, Columbia, Lycoming, Montour, Northumberland, Sullivan and Clinton Counties through 22 banking offices.

Executives

Robert W Dillon	director	PO BOX 180, BLOOMSBURG PA 17815
Kile Willard H Jr	director
Charles B Pursel	director	120 WEST MAIN STREET, BLOOMSBURG PA 17815
P Jeffrey Hill	director	2204 SHASTA DRIVE, BLOOMSBURG PA 17815
Jeffrey Thomas Arnold	officer: Treasurer, CFO	1414 BRUSHY RIDGE ROAD, MONTOURSVILLE PA 17754
Gittler William F Jr	director	PMB 288, SUITE 1, 150 EAST NINTH ST., BLOOMSBURG PA 17815
Paul K Page	officer: Senior Vice President	11 WEST MAIN STREET, BLOOMSBURG PA 17815
Shirley K Alters	officer: Senior Vice President & CFO	19 APPLE LANE, BLOOMSBURG PA 17815
Steven H Shannon	director	PO BOX 803, BLOOMSBURG PA 17815
Glenn E Halterman	director	1417 TREELINE DRIVE, BLOOMSBURG PA 17815
Naugle Mary Ann B	director	68 VISTA ROAD, BERWICK PA 18603
Joanne I Keenan	director	2 BITTERSWEET DRIVE, BLOOMSBURG PA 17815
Andrew B Pruden	director	THE INN AT TURKEY HILL, 991 CENTRAL ROAD, BLOOMSBURG PA 17815
Harding Elwood R Jr	director
Mcmichael W Bruce Jr	director	83 DEER PATH DR, BERWICK PA 18603