William Penn Bancorporation (William Penn Bancorporation) Beneish M-Score : -3.54 (As of Apr. 30, 2024)

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What is William Penn Bancorporation Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

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 -3.54 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for William Penn Bancorporation's Beneish M-Score or its related term are showing as below:

WMPN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.54 Med: -2.25 Max: 2.97
Current: -3.54

During the past 13 years, the highest Beneish M-Score of William Penn Bancorporation was 2.97. The lowest was -3.54. And the median was -2.25.

William Penn Bancorporation 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 William Penn Bancorporation 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

0.528 * 1

0.404 * 1.0159

0.892 * 0.8399

0.115 * 1.0408

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.16

4.679 * -0.002376

0.327 * 0.8997

-3.54

* 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 $0.00 Mil.
Revenue was 5.039 + 5.394 + 5.851 + 5.61 = $21.89 Mil.
Gross Profit was 5.039 + 5.394 + 5.851 + 5.61 = $21.89 Mil.
Total Current Assets was $178.56 Mil.
Total Assets was $826.03 Mil.
Property, Plant and Equipment(Net PPE) was $16.14 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.02 Mil.
Selling, General, & Admin. Expense(SGA) was $12.12 Mil.
Total Current Liabilities was $0.00 Mil.
Long-Term Debt & Capital Lease Obligation was $62.83 Mil.
Net Income was 0.011 + 0.179 + 0.531 + 0.183 = $0.90 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 0.314 + 0.402 + 1.774 + 0.377 = $2.87 Mil.

Total Receivables was $4.33 Mil.
Revenue was 6.638 + 6.523 + 6.625 + 6.28 = $26.07 Mil.
Gross Profit was 6.638 + 6.523 + 6.625 + 6.28 = $26.07 Mil.
Total Current Assets was $196.03 Mil.
Total Assets was $870.94 Mil.
Property, Plant and Equipment(Net PPE) was $19.66 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.30 Mil.
Selling, General, & Admin. Expense(SGA) was $12.44 Mil.
Total Current Liabilities was $5.19 Mil.
Long-Term Debt & Capital Lease Obligation was $68.44 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 / 21.894)	/	(4.334 / 26.066)
	=	0	/	0.16627
	=	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)
	=	(26.066 / 26.066)	/	(21.894 / 21.894)
	=	1	/	1
	=	1

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 - (178.562 + 16.138) / 826.031)	/	(1 - (196.027 + 19.661) / 870.944)
	=	0.764295	/	0.752351
	=	1.0159

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
	=	21.894	/	26.066
	=	0.8399

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))
	=	(1.298 / (1.298 + 19.661))	/	(1.021 / (1.021 + 16.138))
	=	0.06193	/	0.059502
	=	1.0408

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)
	=	(12.118 / 21.894)	/	(12.437 / 26.066)
	=	0.553485	/	0.477135
	=	1.16

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)
	=	((62.834 + 0) / 826.031)	/	((68.439 + 5.194) / 870.944)
	=	0.076067	/	0.084544
	=	0.8997

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
	=	(0.904 - 0	-	2.867)	/	826.031
	=	-0.002376

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.

William Penn Bancorporation has a M-score of -3.54 suggests that the company is unlikely to be a manipulator.

William Penn Bancorporation Beneish M-Score Related Terms

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William Penn Bancorporation (William Penn Bancorporation) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » William Penn Bancorporation (NAS:WMPN) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

10 Canal Street, Suite 104, Bristol, PA, USA, 19007

Website

https://www.williampenn.bank

William Penn Bancorporation operates as an independent community financial services provider. The bank offers traditional banking and related financial services to individual, business, and government customers. Through its branch and automated teller machine network, the bank offers a full array of commercial and retail financial services, including; the taking of time, savings, and demand deposits; the making of the commercial, consumer, and mortgage loans; and the providing of other financial services.

Executives

Christopher Matthew Molden	director	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Kenneth John Stephon	director, officer: President & CEO	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET , SUITE 104, BRISTOL PA 19007
Alan B Turner	officer: EVP & CLO	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Jeannine Cimino	officer: EVP & CRO	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Charles Corcoran	director	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Carmody Donald Michael Jr.	director	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Glenn Davis	director	C/O WILLIAM PENN BANCORP, INC., 8150 ROUTE 13, LEVITTOWN PA 19057
Terry L Sager	director	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Jonathan Thomas Logan	officer: SVP & CFO	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Amy Jean Hannigan	officer: EVP & Dir. Corp. Development	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Vincent Peter Sarubbi	director	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Jill Mcmenamin Ross	officer: EVP & CRCO	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Craig Burton	director	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
Parry William B K Jr	director	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007
William Charles Niemczura	director	C/O WILLIAM PENN BANCORPORATION, 10 CANAL STREET, SUITE 104, BRISTOL PA 19007