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Riley Exploration Permian (Riley Exploration Permian) Beneish M-Score : -2.95 (As of May. 22, 2024)


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What is Riley Exploration Permian 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 -2.95 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Riley Exploration Permian's Beneish M-Score or its related term are showing as below:

REPX' s Beneish M-Score Range Over the Past 10 Years
Min: -11.4   Med: -2.7   Max: 55.33
Current: -2.95

During the past 13 years, the highest Beneish M-Score of Riley Exploration Permian was 55.33. The lowest was -11.40. And the median was -2.70.


Riley Exploration Permian Beneish M-Score Historical Data

The historical data trend for Riley Exploration Permian'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.

Riley Exploration Permian Beneish M-Score Chart

Riley Exploration Permian Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Sep21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only -2.75 -5.92 37.22 -1.27 -2.21

Riley Exploration Permian Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 3.40 -2.03 -1.94 -2.21 -2.95

Competitive Comparison of Riley Exploration Permian's Beneish M-Score

For the Oil & Gas E&P subindustry, Riley Exploration Permian'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.


Riley Exploration Permian's Beneish M-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Riley Exploration Permian's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Riley Exploration Permian's Beneish M-Score falls into.



Riley Exploration Permian 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 Riley Exploration Permian 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 * 1.2346+0.528 * 1.2378+0.404 * 0.268+0.892 * 1.2683+0.115 * 0.6508
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.1365+4.679 * -0.106344-0.327 * 1.5784
=-2.95

* 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 (Mar24) TTM:Last Year (Mar23) TTM:
Total Receivables was $38.6 Mil.
Revenue was 99.744 + 99.829 + 108.294 + 99.912 = $407.8 Mil.
Gross Profit was 57.602 + 58.416 + 65.32 + 56.467 = $237.8 Mil.
Total Current Assets was $58.8 Mil.
Total Assets was $956.4 Mil.
Property, Plant and Equipment(Net PPE) was $878.6 Mil.
Depreciation, Depletion and Amortization(DDA) was $73.8 Mil.
Selling, General, & Admin. Expense(SGA) was $33.9 Mil.
Total Current Liabilities was $99.8 Mil.
Long-Term Debt & Capital Lease Obligation was $321.8 Mil.
Net Income was 18.758 + 38.025 + 8.647 + 33.068 = $98.5 Mil.
Non Operating Income was -16.91 + 17.296 + -35.543 + 5.009 = $-30.1 Mil.
Cash Flow from Operations was 56.125 + 65.823 + 52.652 + 55.75 = $230.4 Mil.
Total Receivables was $24.6 Mil.
Revenue was 67.012 + 78.046 + 88.071 + 88.381 = $321.5 Mil.
Gross Profit was 44.834 + 54.741 + 64.997 + 67.516 = $232.1 Mil.
Total Current Assets was $38.7 Mil.
Total Assets was $575.1 Mil.
Property, Plant and Equipment(Net PPE) was $494.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $26.2 Mil.
Selling, General, & Admin. Expense(SGA) was $23.5 Mil.
Total Current Liabilities was $71.6 Mil.
Long-Term Debt & Capital Lease Obligation was $89.0 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)
=(38.583 / 407.779) / (24.64 / 321.51)
=0.094617 / 0.076638
=1.2346

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)
=(232.088 / 321.51) / (237.805 / 407.779)
=0.721869 / 0.583171
=1.2378

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 - (58.834 + 878.599) / 956.366) / (1 - (38.686 + 493.966) / 575.143)
=0.019797 / 0.073879
=0.268

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
=407.779 / 321.51
=1.2683

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))
=(26.217 / (26.217 + 493.966)) / (73.751 / (73.751 + 878.599))
=0.0504 / 0.077441
=0.6508

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)
=(33.852 / 407.779) / (23.485 / 321.51)
=0.083016 / 0.073046
=1.1365

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)
=((321.842 + 99.756) / 956.366) / ((89 + 71.63) / 575.143)
=0.440833 / 0.279287
=1.5784

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
=(98.498 - -30.148 - 230.35) / 956.366
=-0.106344

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.

Riley Exploration Permian has a M-score of -2.95 suggests that the company is unlikely to be a manipulator.


Riley Exploration Permian Beneish M-Score Related Terms

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Riley Exploration Permian (Riley Exploration Permian) Business Description

Traded in Other Exchanges
Address
29 E. Reno Avenue, Suite 500, Oklahoma City, OK, USA, 73104
Riley Exploration Permian Inc is engaged in the business of exploration for and production of oil and natural gas. The company operations are in Kansas Properties, Tennessee Properties, among others.
Executives
Bryan H Lawrence director C/O CROSSTEX ENERGY HOLDINGS INC, 2501 CEDAR SPRINGS STE 600, DALLAS TX 75201
Riley Exploration Group, Llc 10 percent owner 2008 NORTH COUNCIL AVE, BLANCHARD OK 73010
Bobby Riley director, officer: CHIEF EXECUTIVE OFFICER 29 EAST RENO, SUITE 500, OKLAHOMA CITY OK 73104
Alvin Gerald Libin 10 percent owner 3200 255 5TH AVENUE SW, CALGARY A0 T2P 3G6
Kevin Riley officer: PRESIDENT 29 EAST RENO, SUITE 500, OKLAHOMA CITY OK 73104
E Wayne Nordberg director C/O HOLLOW BROOK WEALTH MANAGEMENT LLC, 420 LEXINGTON AVENUE, SUITE 2840, NEW YORK NY 10170
Brent Alexander Arriaga director 12330 BROKEN BOUGH DR, HOUSTON TX 77024
Philip A Riley officer: EVP STRATEGY 919 MILAM STREET, SUITE 550, HOUSTON TX 77005
Riley Corey Neil officer: EVP BUSINESS INTELLIGENCE 4430 CRITTENDEN DRIVE, NORMAN OK 73072
Rebecca L Bayless director 18 MAYMONT WAY, THE WOODLANDS TX 77382
Balmon Investments Ltd. 10 percent owner 3200 255 5TH AVENUE SW, CALGARY A0 T2P 3G6
Estate Of Antonie Vandenbrink 10 percent owner 59 BELAIRE PLACE SW, CALGARY A0 T2V2C3
Di Santo Beth A director 170 CHRISTOPHER STREET, NEW YORK NY 10014
Amber Bonney officer: Chief Accounting Officer 914 N. BROADWAY, SUITE 230, OKLAHOMA CITY OK 73102
Texel Resources Inc. 10 percent owner 59 BELAIRE PLACE SW, CALGARY A0 T2V2C3

Riley Exploration Permian (Riley Exploration Permian) Headlines