Kaanapali Land LLC (Kaanapali Land LLC) Beneish M-Score : -5.04 (As of May. 17, 2024)

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What is Kaanapali Land LLC 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 -5.04 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

KANP' s Beneish M-Score Range Over the Past 10 Years
Min: -7.7 Med: -2.83 Max: 1.2
Current: -5.04

During the past 13 years, the highest Beneish M-Score of Kaanapali Land LLC was 1.20. The lowest was -7.70. And the median was -2.83.

Kaanapali Land LLC Beneish M-Score Historical Data

The historical data trend for Kaanapali Land LLC'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.

Kaanapali Land LLC Beneish M-Score Chart

Kaanapali Land LLC Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.26

-2.97

-0.35

-2.68

-5.04

Kaanapali Land LLC 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															-2.68	-2.86	-2.56	-6.09	-5.04

Competitive Comparison of Kaanapali Land LLC's Beneish M-Score

For the Real Estate - Development subindustry, Kaanapali Land LLC'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.

Kaanapali Land LLC's Beneish M-Score Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Kaanapali Land LLC's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Kaanapali Land LLC's Beneish M-Score falls into.

Kaanapali Land LLC 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 Kaanapali Land LLC 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 * 1

0.528 * -1.0701

0.404 * 0.3524

0.892 * 0.2496

0.115 * 1.2517

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 3.7768

4.679 * -0.047797

0.327 * 0.5699

-5.04

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.00 Mil.
Revenue was 0.657 + -1.423 + 1.573 + 1.495 = $2.30 Mil.
Gross Profit was 0.061 + -2.261 + 0.851 + 0.793 = $-0.56 Mil.
Total Current Assets was $26.26 Mil.
Total Assets was $93.02 Mil.
Property, Plant and Equipment(Net PPE) was $60.20 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.20 Mil.
Selling, General, & Admin. Expense(SGA) was $-0.80 Mil.
Total Current Liabilities was $0.35 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was 0.038 + 0.28 + 3.725 + -0.336 = $3.71 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was -3.868 + 13.984 + -1.242 + -0.721 = $8.15 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0.835 + 1.104 + 1.262 + 6.023 = $9.22 Mil.
Gross Profit was 0.087 + 0.296 + 0.178 + 1.823 = $2.38 Mil.
Total Current Assets was $19.82 Mil.
Total Assets was $98.51 Mil.
Property, Plant and Equipment(Net PPE) was $58.99 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.24 Mil.
Selling, General, & Admin. Expense(SGA) was $-0.85 Mil.
Total Current Liabilities was $0.64 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)
	=	(0 / 2.302)	/	(0 / 9.224)
	=	0	/	0
	=	1

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)
	=	(2.384 / 9.224)	/	(-0.556 / 2.302)
	=	0.258456	/	-0.241529
	=	-1.0701

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 - (26.26 + 60.2) / 93.019)	/	(1 - (19.815 + 58.988) / 98.514)
	=	0.070512	/	0.200083
	=	0.3524

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
	=	2.302	/	9.224
	=	0.2496

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))
	=	(0.243 / (0.243 + 58.988))	/	(0.198 / (0.198 + 60.2))
	=	0.004103	/	0.003278
	=	1.2517

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)
	=	(-0.804 / 2.302)	/	(-0.853 / 9.224)
	=	-0.349262	/	-0.092476
	=	3.7768

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)
	=	((0 + 0.346) / 93.019)	/	((0 + 0.643) / 98.514)
	=	0.00372	/	0.006527
	=	0.5699

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
	=	(3.707 - 0	-	8.153)	/	93.019
	=	-0.047797

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.

Kaanapali Land LLC has a M-score of -5.04 suggests that the company is unlikely to be a manipulator.

Kaanapali Land LLC Beneish M-Score Related Terms

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Kaanapali Land LLC (Kaanapali Land LLC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Kaanapali Land LLC (OTCPK:KANP) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

900 North Michigan Avenue, Chicago, IL, USA, 60611

Website

http://www.kaanapalidevelopment.com

Kaanapali Land LLC and its subsidiaries operate in Property and Agriculture business segments. Agriculture segment consists of farming, harvesting, and milling operations relating to coffee orchards. Property segment includes the development of land for sale and negotiates bulk sales of undeveloped land. The firm generates the majority of its revenues from the Property segment. All operations of the firm are located in State of Hawaii, United States.

Executives

Richard Helland	officer: Vice President	900 N. MICHIGAN AVE., CHICAGO IL 60611
Stephen A Lovelette	officer: Executive Vice President	900 NORTH MICHIGAN AVENUE, CHICAGO IL 60611
Pacific Trail Holdings, Llc	10 percent owner, other: Sole managing member of issuer	900 NORTH MICHIGAN AVENUE, CHICAGO IL 60611
Gailen J Hull	officer: Senior Vice President and CFO	900 NORTH MICHIGAN AVENUE, CHICAGO IL 60611
Gary Nickele	officer: President and CEO	900 NORTH MICHIGAN AVENUE, CHICAGO IL 60611

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