Olimpo Real Estate Portugal SIGI (XLIS:MLORE) Beneish M-Score : -2.90 (As of May. 21, 2024)

View and export this data going back to 2020. Start your Free Trial

What is Olimpo Real Estate Portugal SIGI 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 -2.9 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Olimpo Real Estate Portugal SIGI's Beneish M-Score or its related term are showing as below:

XLIS:MLORE' s Beneish M-Score Range Over the Past 10 Years
Min: -2.9 Med: -2.01 Max: -0.47
Current: -2.9

During the past 5 years, the highest Beneish M-Score of Olimpo Real Estate Portugal SIGI was -0.47. The lowest was -2.90. And the median was -2.01.

Olimpo Real Estate Portugal SIGI Beneish M-Score Historical Data

The historical data trend for Olimpo Real Estate Portugal SIGI'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.

Olimpo Real Estate Portugal SIGI Beneish M-Score Chart

Olimpo Real Estate Portugal SIGI Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-0.47

-2.01

-2.90

Olimpo Real Estate Portugal SIGI Semi-Annual Data
	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial			-0.47	-	-2.01	-	-2.90

Competitive Comparison of Olimpo Real Estate Portugal SIGI's Beneish M-Score

For the REIT - Diversified subindustry, Olimpo Real Estate Portugal SIGI'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.

Olimpo Real Estate Portugal SIGI's Beneish M-Score Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Olimpo Real Estate Portugal SIGI's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Olimpo Real Estate Portugal SIGI's Beneish M-Score falls into.

Olimpo Real Estate Portugal SIGI 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 Olimpo Real Estate Portugal SIGI 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 * 0.3774

0.528 * 0.8488

0.404 * 1.0166

0.892 * 1.4686

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.038401

0.327 * 1.0429

-2.90

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was €0.14 Mil.
Revenue was €5.20 Mil.
Gross Profit was €4.21 Mil.
Total Current Assets was €2.71 Mil.
Total Assets was €86.92 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.57 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €0.80 Mil.
Long-Term Debt & Capital Lease Obligation was €38.11 Mil.
Net Income was €0.84 Mil.
Gross Profit was €0.00 Mil.
Cash Flow from Operations was €4.17 Mil.

Total Receivables was €0.25 Mil.
Revenue was €3.54 Mil.
Gross Profit was €2.43 Mil.
Total Current Assets was €4.28 Mil.
Total Assets was €90.98 Mil.
Property, Plant and Equipment(Net PPE) was €0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was €1.08 Mil.
Selling, General, & Admin. Expense(SGA) was €0.00 Mil.
Total Current Liabilities was €1.06 Mil.
Long-Term Debt & Capital Lease Obligation was €37.99 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)
	=	(0.138 / 5.199)	/	(0.249 / 3.54)
	=	0.026544	/	0.070339
	=	0.3774

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)
	=	(2.432 / 3.54)	/	(4.208 / 5.199)
	=	0.687006	/	0.809386
	=	0.8488

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 - (2.713 + 0) / 86.924)	/	(1 - (4.277 + 0) / 90.976)
	=	0.968789	/	0.952988
	=	1.0166

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
	=	5.199	/	3.54
	=	1.4686

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))
	=	(1.078 / (1.078 + 0))	/	(1.57 / (1.57 + 0))
	=	1	/	1
	=	1

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 / 5.199)	/	(0 / 3.54)
	=	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)
	=	((38.105 + 0.801) / 86.924)	/	((37.986 + 1.06) / 90.976)
	=	0.447586	/	0.42919
	=	1.0429

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
	=	(0.836 - 0	-	4.174)	/	86.924
	=	-0.038401

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.

Olimpo Real Estate Portugal SIGI has a M-score of -2.90 suggests that the company is unlikely to be a manipulator.

Olimpo Real Estate Portugal SIGI Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Olimpo Real Estate Portugal SIGI's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Olimpo Real Estate Portugal SIGI (XLIS:MLORE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Olimpo Real Estate Portugal SIGI SA (XLIS:MLORE) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Lugar do Espido, Via Norte, Miaia, PRT, 4471-909

Website

https://www.ores-portugal.com

Olimpo Real Estate Portugal SIGI SA is a real estate investment and asset management company. The company's objectives are to acquire offices and commercial real estate assets with long-term growth potential in the Portuguese and Spanish markets.

Olimpo Real Estate Portugal SIGI (XLIS:MLORE) Headlines

No Headlines