Asiri Surgical Hospital (COL:AMSL.N0000) Beneish M-Score : -2.40 (As of May. 27, 2024)

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What is Asiri Surgical Hospital 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 Asiri Surgical Hospital's Beneish M-Score or its related term are showing as below:

COL:AMSL.N0000' s Beneish M-Score Range Over the Past 10 Years
Min: -3.3 Med: -2.23 Max: -0.27
Current: -2.4

During the past 13 years, the highest Beneish M-Score of Asiri Surgical Hospital was -0.27. The lowest was -3.30. And the median was -2.23.

Asiri Surgical Hospital Beneish M-Score Historical Data

The historical data trend for Asiri Surgical Hospital'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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Asiri Surgical Hospital Beneish M-Score Chart

Asiri Surgical Hospital Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Beneish M-Score

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-0.74

-0.42

-2.29

-2.15

-1.97

Asiri Surgical Hospital Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															-1.66	-1.97	-2.25	-2.27	-2.40

Competitive Comparison of Asiri Surgical Hospital's Beneish M-Score

For the Medical Care Facilities subindustry, Asiri Surgical Hospital'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.

Asiri Surgical Hospital's Beneish M-Score Distribution in the Healthcare Providers & Services Industry

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

* The bar in red indicates where Asiri Surgical Hospital's Beneish M-Score falls into.

Asiri Surgical Hospital 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 Asiri Surgical Hospital 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 * 0.9979

0.528 * 0.9458

0.404 * 0.9667

0.892 * 1.1716

0.115 * 0.9853

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1074

4.679 * -0.013484

0.327 * 0.8346

-2.40

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was රු5,217 Mil.
Revenue was 1645.769 + 1683.956 + 1667.615 + 1546.799 = රු6,544 Mil.
Gross Profit was 656.518 + 686.897 + 683.034 + 669.595 = රු2,696 Mil.
Total Current Assets was රු6,006 Mil.
Total Assets was රු13,567 Mil.
Property, Plant and Equipment(Net PPE) was රු5,359 Mil.
Depreciation, Depletion and Amortization(DDA) was රු395 Mil.
Selling, General, & Admin. Expense(SGA) was රු1,543 Mil.
Total Current Liabilities was රු4,233 Mil.
Long-Term Debt & Capital Lease Obligation was රු1,055 Mil.
Net Income was 116.354 + 149.407 + 189.095 + 42.254 = රු497 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = රු0 Mil.
Cash Flow from Operations was 263.794 + 347.83 + 174.488 + -106.059 = රු680 Mil.

Total Receivables was රු4,462 Mil.
Revenue was 1481.126 + 1390.182 + 1216.589 + 1497.876 = රු5,586 Mil.
Gross Profit was 607.507 + 519.093 + 433.12 + 616.817 = රු2,177 Mil.
Total Current Assets was රු5,318 Mil.
Total Assets was රු11,983 Mil.
Property, Plant and Equipment(Net PPE) was රු4,653 Mil.
Depreciation, Depletion and Amortization(DDA) was රු338 Mil.
Selling, General, & Admin. Expense(SGA) was රු1,189 Mil.
Total Current Liabilities was රු4,333 Mil.
Long-Term Debt & Capital Lease Obligation was රු1,263 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)
	=	(5217.068 / 6544.139)	/	(4462.261 / 5585.773)
	=	0.797212	/	0.798862
	=	0.9979

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)
	=	(2176.537 / 5585.773)	/	(2696.044 / 6544.139)
	=	0.389657	/	0.411978
	=	0.9458

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 - (6005.849 + 5358.728) / 13567.031)	/	(1 - (5317.702 + 4652.765) / 11982.72)
	=	0.162339	/	0.16793
	=	0.9667

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
	=	6544.139	/	5585.773
	=	1.1716

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))
	=	(337.643 / (337.643 + 4652.765))	/	(395.1 / (395.1 + 5358.728))
	=	0.067658	/	0.068667
	=	0.9853

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)
	=	(1542.872 / 6544.139)	/	(1189.153 / 5585.773)
	=	0.235764	/	0.21289
	=	1.1074

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)
	=	((1055.495 + 4233.471) / 13567.031)	/	((1263.487 + 4333.423) / 11982.72)
	=	0.38984	/	0.467082
	=	0.8346

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
	=	(497.11 - 0	-	680.053)	/	13567.031
	=	-0.013484

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.

Asiri Surgical Hospital has a M-score of -2.40 suggests that the company is unlikely to be a manipulator.

Asiri Surgical Hospital Beneish M-Score Related Terms

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Asiri Surgical Hospital (COL:AMSL.N0000) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Asiri Surgical Hospital PLC (COL:AMSL.N0000) » Definitions » Beneish M-Score

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Traded in Other Exchanges

N/A

Address

No. 21, Kirimandala Mawatha, Colombo, LKA, 05

Website

https://www.asirihealth.com

Asiri Surgical Hospital PLC is engaged in operating a two-tier hospital and provides healthcare services. The business of the company operates in segments that include Pre-care, Post-care, and Pharmaceutical segment. The pre-care includes OPD revenue, channeling revenue, and OPD lab investigation services, post-care which includes all IPD revenue including inpatient drugs and lab investigation, and pharmaceutical which includes OPD pharmacy revenue. Geographically the company provides its services to the Sri Lankan market.

Asiri Surgical Hospital (COL:AMSL.N0000) Headlines

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