Healthlead PCL Beneish M-Score Historical Data
The historical data trend for Healthlead PCL'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.
Healthlead PCL Beneish M-Score Chart
|
Healthlead PCL Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
- |
-2.38 |
-2.01 |
|
Healthlead PCL Quarterly Data
|
|
Dec19 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
-2.31 |
-2.10 |
-1.95 |
-2.01 |
-2.10 |
Competitive Comparison of Healthlead PCL's Beneish M-Score
For the Medical Distribution subindustry, Healthlead PCL'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.
Healthlead PCL's Beneish M-Score Distribution in the Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, Healthlead PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Healthlead PCL's Beneish M-Score falls into.
Healthlead PCL 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 Healthlead PCL 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 * 1.4472 | + | 0.528 * 1.0474 | + | 0.404 * 1.0278 | + | 0.892 * 1.1298 | + | 0.115 * 0.9739 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1109 | + | 4.679 * -0.025929 | - | 0.327 * 1.1369 |
| = | -2.10 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ฿26 Mil.
Revenue was 482.414 + 442.291 + 410.798 + 397.052 = ฿1,733 Mil.
Gross Profit was 104.833 + 111.048 + 92.902 + 90.517 = ฿399 Mil.
Total Current Assets was ฿860 Mil.
Total Assets was ฿1,432 Mil.
Property, Plant and Equipment(Net PPE) was ฿492 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿61 Mil.
Selling, General, & Admin. Expense(SGA) was ฿332 Mil.
Total Current Liabilities was ฿200 Mil.
Long-Term Debt & Capital Lease Obligation was ฿227 Mil.
Net Income was 18.575 + 29.703 + 16.212 + 15.969 = ฿80 Mil.
Non Operating Income was 6.537 + -0.443 + 0.092 + -0.22 = ฿6 Mil.
Cash Flow from Operations was 32.863 + 53.384 + 29.053 + -3.674 = ฿112 Mil.
|
Total Receivables was ฿16 Mil.
Revenue was 385.402 + 388.747 + 397.577 + 361.798 = ฿1,534 Mil.
Gross Profit was 82.745 + 105.844 + 96.395 + 85.182 = ฿370 Mil.
Total Current Assets was ฿879 Mil.
Total Assets was ฿1,311 Mil.
Property, Plant and Equipment(Net PPE) was ฿361 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿43 Mil.
Selling, General, & Admin. Expense(SGA) was ฿265 Mil.
Total Current Liabilities was ฿185 Mil.
Long-Term Debt & Capital Lease Obligation was ฿159 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) |
| = | (25.769 / 1732.555) | / | (15.76 / 1533.524) |
| = | 0.014873 | / | 0.010277 |
| | = | 1.4472 |
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) |
| = | (370.166 / 1533.524) | / | (399.3 / 1732.555) |
| = | 0.241383 | / | 0.230469 |
| | = | 1.0474 |
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 - (859.829 + 492.348) / 1432.077) | / | (1 - (879.267 + 360.598) / 1311.031) |
| = | 0.055793 | / | 0.054282 |
| | = | 1.0278 |
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 |
| = | 1732.555 | / | 1533.524 |
| | = | 1.1298 |
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)) |
| = | (43.212 / (43.212 + 360.598)) | / | (60.775 / (60.775 + 492.348)) |
| = | 0.107011 | / | 0.109876 |
| | = | 0.9739 |
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) |
| = | (332.102 / 1732.555) | / | (264.617 / 1533.524) |
| = | 0.191683 | / | 0.172555 |
| | = | 1.1109 |
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) |
| = | ((226.734 + 200.384) / 1432.077) | / | ((159.123 + 184.815) / 1311.031) |
| = | 0.298251 | / | 0.262342 |
| | = | 1.1369 |
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 |
| = | (80.459 - 5.966 | - | 111.626) | / | 1432.077 |
| | = | -0.025929 |
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.
Healthlead PCL has a M-score of -2.10 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BKK:HL has been successfully added to your