Dallah Healthcare Co Beneish M-Score Historical Data
The historical data trend for Dallah Healthcare Co'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.
Dallah Healthcare Co Beneish M-Score Chart
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Dallah Healthcare Co Annual Data
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Dec14 |
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Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-2.77 |
-1.76 |
-2.21 |
-2.51 |
-2.18 |
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Dallah Healthcare Co Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
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Mar22 |
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Mar23 |
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Sep23 |
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Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.00 |
-2.18 |
-2.81 |
-2.62 |
-2.76 |
Competitive Comparison of Dallah Healthcare Co's Beneish M-Score
For the Medical Care Facilities subindustry, Dallah Healthcare Co'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.
Dallah Healthcare Co's Beneish M-Score Distribution in the Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Dallah Healthcare Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dallah Healthcare Co's Beneish M-Score falls into.
Dallah Healthcare Co 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 Dallah Healthcare Co 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 * 0.8548 | + | 0.528 * 0.9562 | + | 0.404 * 0.9343 | + | 0.892 * 1.1315 | + | 0.115 * 0.9669 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9306 | + | 4.679 * -0.046797 | - | 0.327 * 1.0119 |
| = | -2.76 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was ﷼829 Mil.
Revenue was 847.734 + 765.184 + 784.056 + 806.013 = ﷼3,203 Mil.
Gross Profit was 322.987 + 297.727 + 293.362 + 295.941 = ﷼1,210 Mil.
Total Current Assets was ﷼1,455 Mil.
Total Assets was ﷼6,593 Mil.
Property, Plant and Equipment(Net PPE) was ﷼3,346 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼137 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼204 Mil.
Total Current Liabilities was ﷼1,317 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼1,288 Mil.
Net Income was 126.155 + 111.844 + 119.299 + 113.652 = ﷼471 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ﷼0 Mil.
Cash Flow from Operations was 245.695 + 90.404 + 173.464 + 269.895 = ﷼779 Mil.
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Total Receivables was ﷼857 Mil.
Revenue was 749.828 + 670.416 + 716.641 + 693.876 = ﷼2,831 Mil.
Gross Profit was 280.863 + 235.076 + 266.794 + 239.808 = ﷼1,023 Mil.
Total Current Assets was ﷼1,355 Mil.
Total Assets was ﷼6,103 Mil.
Property, Plant and Equipment(Net PPE) was ﷼2,973 Mil.
Depreciation, Depletion and Amortization(DDA) was ﷼118 Mil.
Selling, General, & Admin. Expense(SGA) was ﷼194 Mil.
Total Current Liabilities was ﷼1,006 Mil.
Long-Term Debt & Capital Lease Obligation was ﷼1,376 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) |
| = | (828.832 / 3202.987) | / | (856.96 / 2830.761) |
| = | 0.258768 | / | 0.302731 |
| | = | 0.8548 |
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) |
| = | (1022.541 / 2830.761) | / | (1210.017 / 3202.987) |
| = | 0.361225 | / | 0.377778 |
| | = | 0.9562 |
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 - (1454.847 + 3346.271) / 6592.521) | / | (1 - (1354.808 + 2973.373) / 6103.341) |
| = | 0.271733 | / | 0.290851 |
| | = | 0.9343 |
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 |
| = | 3202.987 | / | 2830.761 |
| | = | 1.1315 |
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)) |
| = | (117.795 / (117.795 + 2973.373)) | / | (137.287 / (137.287 + 3346.271)) |
| = | 0.038107 | / | 0.03941 |
| | = | 0.9669 |
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) |
| = | (204.445 / 3202.987) | / | (194.165 / 2830.761) |
| = | 0.063829 | / | 0.068591 |
| | = | 0.9306 |
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) |
| = | ((1287.718 + 1316.527) / 6592.521) | / | ((1376.096 + 1006.46) / 6103.341) |
| = | 0.39503 | / | 0.390369 |
| | = | 1.0119 |
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 |
| = | (470.95 - 0 | - | 779.458) | / | 6592.521 |
| | = | -0.046797 |
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.
Dallah Healthcare Co has a M-score of -2.76 suggests that the company is unlikely to be a manipulator.
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