Societe Nationale des Telecommunications SONATEL (XBRV:SNTS) Beneish M-Score : -2.81 (As of May. 10, 2024)

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What is Societe Nationale des Telecommunications SONATEL 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 -2.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Societe Nationale des Telecommunications SONATEL's Beneish M-Score or its related term are showing as below:

XBRV:SNTS' s Beneish M-Score Range Over the Past 10 Years
Min: -3.05 Med: -2.35 Max: -1.24
Current: -2.81

During the past 13 years, the highest Beneish M-Score of Societe Nationale des Telecommunications SONATEL was -1.24. The lowest was -3.05. And the median was -2.35.

Societe Nationale des Telecommunications SONATEL Beneish M-Score Historical Data

The historical data trend for Societe Nationale des Telecommunications SONATEL'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.

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Societe Nationale des Telecommunications SONATEL Beneish M-Score Chart

Societe Nationale des Telecommunications SONATEL Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Beneish M-Score

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-2.92

-3.02

-2.73

-3.05

-2.81

Societe Nationale des Telecommunications SONATEL Semi-Annual Data
	Dec09	Dec10	Dec11	Dec12	Dec13	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22
Beneish M-Score	Get a 7-Day Free Trial									-2.92	-3.02	-2.73	-3.05	-2.81

Competitive Comparison of Societe Nationale des Telecommunications SONATEL's Beneish M-Score

For the Telecom Services subindustry, Societe Nationale des Telecommunications SONATEL'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.

Societe Nationale des Telecommunications SONATEL's Beneish M-Score Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Societe Nationale des Telecommunications SONATEL's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Societe Nationale des Telecommunications SONATEL's Beneish M-Score falls into.

Societe Nationale des Telecommunications SONATEL 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 Societe Nationale des Telecommunications SONATEL 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 * 1.1093

0.528 * 1.0175

0.404 * 0.8744

0.892 * 1.09

0.115 * 0.9963

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.101307

0.327 * 0.9974

-2.81

This Year (Dec22) TTM:

Last Year (Dec21) TTM:

Total Receivables was XOF474,862 Mil.
Revenue was XOF1,455,049 Mil.
Gross Profit was XOF928,915 Mil.
Total Current Assets was XOF881,316 Mil.
Total Assets was XOF2,252,192 Mil.
Property, Plant and Equipment(Net PPE) was XOF942,319 Mil.
Depreciation, Depletion and Amortization(DDA) was XOF207,478 Mil.
Selling, General, & Admin. Expense(SGA) was XOF0 Mil.
Total Current Liabilities was XOF1,097,022 Mil.
Long-Term Debt & Capital Lease Obligation was XOF215,139 Mil.
Net Income was XOF235,974 Mil.
Gross Profit was XOF0 Mil.
Cash Flow from Operations was XOF464,136 Mil.

Total Receivables was XOF392,724 Mil.
Revenue was XOF1,334,872 Mil.
Gross Profit was XOF867,069 Mil.
Total Current Assets was XOF747,082 Mil.
Total Assets was XOF2,063,844 Mil.
Property, Plant and Equipment(Net PPE) was XOF867,624 Mil.
Depreciation, Depletion and Amortization(DDA) was XOF190,170 Mil.
Selling, General, & Admin. Expense(SGA) was XOF0 Mil.
Total Current Liabilities was XOF983,321 Mil.
Long-Term Debt & Capital Lease Obligation was XOF222,238 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)
	=	(474862 / 1455049)	/	(392724 / 1334872)
	=	0.326355	/	0.294203
	=	1.1093

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)
	=	(867069 / 1334872)	/	(928915 / 1455049)
	=	0.649552	/	0.638408
	=	1.0175

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 - (881316 + 942319) / 2252192)	/	(1 - (747082 + 867624) / 2063844)
	=	0.190284	/	0.217622
	=	0.8744

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
	=	1455049	/	1334872
	=	1.09

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))
	=	(190170 / (190170 + 867624))	/	(207478 / (207478 + 942319))
	=	0.17978	/	0.180448
	=	0.9963

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 / 1455049)	/	(0 / 1334872)
	=	0	/	0
	=	1

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)
	=	((215139 + 1097022) / 2252192)	/	((222238 + 983321) / 2063844)
	=	0.582615	/	0.584133
	=	0.9974

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
	=	(235974 - 0	-	464136)	/	2252192
	=	-0.101307

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.

Societe Nationale des Telecommunications SONATEL has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.

Societe Nationale des Telecommunications SONATEL Beneish M-Score Related Terms

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Societe Nationale des Telecommunications SONATEL (XBRV:SNTS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » Societe Nationale des Telecommunications SONATEL (XBRV:SNTS) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

Voie de degagement N, BP 64, Dakar, SEN

Website

https://www.sonatel.sn

Societe Nationale des Telecommunications SONATEL provides telecommunications solutions in the areas of fixed, mobile, Internet, television and data serving individuals and businesses. The company generates maximum revenue from Mobile including data services ad geographically from Africa.

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