Okeanis Eco Tankers Beneish M-Score Historical Data
The historical data trend for Okeanis Eco Tankers'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.
Okeanis Eco Tankers Beneish M-Score Chart
|
Okeanis Eco Tankers Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
-1.91 |
-2.51 |
0.08 |
-2.51 |
|
Okeanis Eco Tankers 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
|
|
|
|
|
|
|
|
|
|
|
|
|
0.08 |
-2.11 |
-1.01 |
-2.09 |
-2.51 |
Competitive Comparison of Okeanis Eco Tankers's Beneish M-Score
For the Marine Shipping subindustry, Okeanis Eco Tankers'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.
Okeanis Eco Tankers's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Okeanis Eco Tankers's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Okeanis Eco Tankers's Beneish M-Score falls into.
Okeanis Eco Tankers 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 Okeanis Eco Tankers 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 * 0.7509 | + | 0.528 * 0.8481 | + | 0.404 * 0.6996 | + | 0.892 * 1.5245 | + | 0.115 * 0.9101 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2302 | + | 4.679 * -0.026554 | - | 0.327 * 0.9928 |
| = | -2.61 |
* 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 $57.5 Mil.
Revenue was 91.671 + 89.066 + 119.807 + 112.553 = $413.1 Mil.
Gross Profit was 38.605 + 39.776 + 72.74 + 70.292 = $221.4 Mil.
Total Current Assets was $138.0 Mil.
Total Assets was $1,129.1 Mil.
Property, Plant and Equipment(Net PPE) was $988.2 Mil.
Depreciation, Depletion and Amortization(DDA) was $40.4 Mil.
Selling, General, & Admin. Expense(SGA) was $9.9 Mil.
Total Current Liabilities was $105.6 Mil.
Long-Term Debt & Capital Lease Obligation was $615.3 Mil.
Net Income was 21.26 + 19.449 + 52.938 + 51.604 = $145.3 Mil.
Non Operating Income was 1.536 + -1.346 + 0.192 + 0.82 = $1.2 Mil.
Cash Flow from Operations was 3.846 + 56 + 32.966 + 81.22 = $174.0 Mil.
|
Total Receivables was $50.2 Mil.
Revenue was 110.237 + 69.213 + 49.875 + 41.648 = $271.0 Mil.
Gross Profit was 63.783 + 30.95 + 17.393 + 11.056 = $123.2 Mil.
Total Current Assets was $154.4 Mil.
Total Assets was $1,183.4 Mil.
Property, Plant and Equipment(Net PPE) was $1,024.4 Mil.
Depreciation, Depletion and Amortization(DDA) was $38.0 Mil.
Selling, General, & Admin. Expense(SGA) was $5.3 Mil.
Total Current Liabilities was $92.9 Mil.
Long-Term Debt & Capital Lease Obligation was $668.2 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) |
| = | (57.452 / 413.097) | / | (50.189 / 270.973) |
| = | 0.139076 | / | 0.185218 |
| | = | 0.7509 |
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) |
| = | (123.182 / 270.973) | / | (221.413 / 413.097) |
| = | 0.454591 | / | 0.535983 |
| | = | 0.8481 |
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 - (137.95 + 988.155) / 1129.115) | / | (1 - (154.417 + 1024.428) / 1183.355) |
| = | 0.002666 | / | 0.003811 |
| | = | 0.6996 |
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 |
| = | 413.097 | / | 270.973 |
| | = | 1.5245 |
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)) |
| = | (37.963 / (37.963 + 1024.428)) | / | (40.382 / (40.382 + 988.155)) |
| = | 0.035734 | / | 0.039262 |
| | = | 0.9101 |
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) |
| = | (9.934 / 413.097) | / | (5.297 / 270.973) |
| = | 0.024048 | / | 0.019548 |
| | = | 1.2302 |
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) |
| = | ((615.334 + 105.616) / 1129.115) | / | ((668.236 + 92.852) / 1183.355) |
| = | 0.638509 | / | 0.643161 |
| | = | 0.9928 |
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 |
| = | (145.251 - 1.202 | - | 174.032) | / | 1129.115 |
| | = | -0.026554 |
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.
Okeanis Eco Tankers has a M-score of -2.61 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
ECO has been successfully added to your