Bashneft PJSOC Beneish M-Score Historical Data
The historical data trend for Bashneft PJSOC'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.
Bashneft PJSOC Beneish M-Score Chart
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Bashneft PJSOC Annual Data
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Trend |
Dec13 |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec23 |
| Beneish M-Score |
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-2.49 |
-1.98 |
-2.78 |
-1.87 |
-2.88 |
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Bashneft PJSOC Quarterly Data
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Dec17 |
Mar18 |
Jun18 |
Sep18 |
Dec18 |
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.39 |
-1.87 |
-2.88 |
-2.85 |
-2.88 |
Competitive Comparison of Bashneft PJSOC's Beneish M-Score
For the Oil & Gas Integrated subindustry, Bashneft PJSOC'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.
Bashneft PJSOC's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Bashneft PJSOC's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Bashneft PJSOC's Beneish M-Score falls into.
Bashneft PJSOC 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 Bashneft PJSOC 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 | + | 0.528 * 0.636 | + | 0.404 * 0.8985 | + | 0.892 * 1.2375 | + | 0.115 * 3.0974 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.1417 | + | 4.679 * -0.000453 | - | 0.327 * 0.5301 |
| = | -2.88 |
* 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 (Sep21) TTM: |
Total Receivables was ₽0 Mil.
Revenue was 303975 + 314362 + 0 + 242101 = ₽860,438 Mil.
Gross Profit was 258870 + 216024 + 0 + 125248 = ₽600,142 Mil.
Total Current Assets was ₽559,305 Mil.
Total Assets was ₽1,127,050 Mil.
Property, Plant and Equipment(Net PPE) was ₽550,430 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽11,970 Mil.
Selling, General, & Admin. Expense(SGA) was ₽2,986 Mil.
Total Current Liabilities was ₽165,009 Mil.
Long-Term Debt & Capital Lease Obligation was ₽0 Mil.
Net Income was 26423 + 74267 + 0 + 26241 = ₽126,931 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₽0 Mil.
Cash Flow from Operations was 39606 + 64138 + 0 + 23698 = ₽127,442 Mil.
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Total Receivables was ₽220,701 Mil.
Revenue was 227308 + 201282 + 152537 + 114185 = ₽695,312 Mil.
Gross Profit was 102630 + 100310 + 63004 + 42509 = ₽308,453 Mil.
Total Current Assets was ₽301,974 Mil.
Total Assets was ₽874,417 Mil.
Property, Plant and Equipment(Net PPE) was ₽557,491 Mil.
Depreciation, Depletion and Amortization(DDA) was ₽39,346 Mil.
Selling, General, & Admin. Expense(SGA) was ₽17,032 Mil.
Total Current Liabilities was ₽123,960 Mil.
Long-Term Debt & Capital Lease Obligation was ₽117,546 Mil.
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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 / 860438) | / | (220701 / 695312) |
| = | 0 | / | 0.317413 |
| | = | 0 |
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) |
| = | (308453 / 695312) | / | (600142 / 860438) |
| = | 0.443618 | / | 0.697484 |
| | = | 0.636 |
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 - (559305 + 550430) / 1127050) | / | (1 - (301974 + 557491) / 874417) |
| = | 0.015363 | / | 0.017099 |
| | = | 0.8985 |
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 |
| = | 860438 | / | 695312 |
| | = | 1.2375 |
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)) |
| = | (39346 / (39346 + 557491)) | / | (11970 / (11970 + 550430)) |
| = | 0.065924 | / | 0.021284 |
| | = | 3.0974 |
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) |
| = | (2986 / 860438) | / | (17032 / 695312) |
| = | 0.00347 | / | 0.024495 |
| | = | 0.1417 |
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 + 165009) / 1127050) | / | ((117546 + 123960) / 874417) |
| = | 0.146408 | / | 0.276191 |
| | = | 0.5301 |
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 |
| = | (126931 - 0 | - | 127442) | / | 1127050 |
| | = | -0.000453 |
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.
Bashneft PJSOC has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.
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