Indonesia Beneish M Score

INDO -  USA Stock  

USD 4.30  0.01  0.23%

This module uses fundamental data of Indonesia Energy to approximate the value of its Beneish M Score. Indonesia Energy M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Please see Indonesia Energy Piotroski F Score and Indonesia Energy Altman Z Score analysis.

Indonesia Beneish M Score 

 
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Indonesia Energy Total Debt is quite stable at the moment as compared to the past year. The company's current value of Total Debt is estimated at 1.26 Million. Debt Current is expected to rise to about 1 M this year, although the value of Debt Non Current will most likely fall to about 1.8 M. Indonesia Energy Book Value per Share is quite stable at the moment as compared to the past year. The company's current value of Book Value per Share is estimated at 1.80. Debt to Equity Ratio is expected to rise to 0.28 this year, although the value of Current Ratio will most likely fall to 5.32.
At this time, it appears that Indonesia Energy Corp is an unlikely manipulator. The earnings manipulation may begin if Indonesia Energy's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by Indonesia Energy executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of Indonesia Energy's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-4.72
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables
0.68
Asset Quality
-3.26
Expense Coverage
0.59
Gross Margin Strengs
1.03
Accruals Factor
0.59
Depreciation Resistance
0.94
Net Sales Growth
1.36
Financial Leverage Condition
1.04

Indonesia Energy Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if Indonesia Energy's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Revenues2.7 MM
Significantly Up
Decreasing
Stable
Selling General and Administrative Expense5.2 M6.5 M
Significantly Down
Increasing
Slightly volatile
Net Cash Flow from Operations(5.3 M)(5.2 M)
Fairly Down
Decreasing
Slightly volatile
Depreciation Amortization and Accretion838.4 K771.6 K
Significantly Up
Decreasing
Slightly volatile
Total Assets16.2 M15.6 M
Sufficiently Up
Increasing
Slightly volatile
Investments1.7 MM
Fairly Down
Increasing
Slightly volatile
Investments Non Current1.7 MM
Fairly Down
Increasing
Slightly volatile
Property Plant and Equipment Net2.6 M2.6 M
Slightly Down
Decreasing
Slightly volatile
Trade and Non Trade Receivables1.1 M1.1 M
Significantly Down
Decreasing
Slightly volatile
Total Liabilities3.3 M3.2 M
Fairly Up
Decreasing
Slightly volatile
Current Assets11 M11.2 M
Fairly Down
Increasing
Slightly volatile
Assets Non Current5.2 M4.3 M
Fairly Up
Increasing
Slightly volatile
Current Liabilities2.1 M1.8 M
Fairly Up
Decreasing
Slightly volatile
Liabilities Non Current1.4 M1.4 M
Fairly Up
Decreasing
Slightly volatile
Total Debt1.3 M980.5 K
Significantly Up
Decreasing
Stable
Debt CurrentM980.5 K
Notably Up
Decreasing
Slightly volatile
Debt Non Current1.8 M1.8 M
Slightly Down
Decreasing
Slightly volatile
Operating Income(7.5 M)(7.3 M)
Fairly Down
Decreasing
Slightly volatile
Gross Margin(0.0195)(0.019)
Fairly Down
Decreasing
Stable

Indonesia Energy Corp Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between Indonesia Energy's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards Indonesia Energy in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find Indonesia Energy's degree of accounting gimmicks and manipulations.

About Indonesia Energy Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

838,412Share
Indonesia Energy Depreciation Amortization and Accretion is quite stable at the moment as compared to the past year. The company's current value of Depreciation Amortization and Accretion is estimated at 838,412

About Indonesia Energy Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze Indonesia Energy Corp's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of Indonesia Energy using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of Indonesia Energy Corp based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
Indonesia Energy Corporation Limited, through its subsidiaries, operates as an oil and gas exploration and production company in Indonesia. It holds interests in the Kruh Block, a producing block covering an area of 258 square kilometers with net crude oil proved reserves of 2.63 million barrels located to the northwest of Pendopo, Pali, and South Sumatra and the Citarum Block, an exploration block covering an area of 3,924.67 square kilometers located onshore in West Java. The company was incorporated in 2018 and is headquartered in Jakarta, Indonesia. Indonesia Energy Corporation Limited is a subsidiary of Maderic Holdings Limited.

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Please see Indonesia Energy Piotroski F Score and Indonesia Energy Altman Z Score analysis. Note that the Indonesia Energy Corp information on this page should be used as a complementary analysis to other Indonesia Energy's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.

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The market value of Indonesia Energy Corp is measured differently than its book value, which is the value of Indonesia that is recorded on the company's balance sheet. Investors also form their own opinion of Indonesia Energy's value that differs from its market value or its book value, called intrinsic value, which is Indonesia Energy's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Indonesia Energy's market value can be influenced by many factors that don't directly affect Indonesia Energy Corp underlying business (such as pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Indonesia Energy's value and its price as these two are different measures arrived at by different means. Investors typically determine Indonesia Energy value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Indonesia Energy's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.