Kanzhun Beneish M-Score Historical Data
The historical data trend for Kanzhun'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.
|
Kanzhun Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
|
- |
- |
-0.80 |
-1.86 |
|
Kanzhun Quarterly Data
|
|
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
| Beneish M-Score |
|
|
|
|
|
|
|
|
|
|
|
-2.13 |
-1.86 |
-0.45 |
154.61 |
194.56 |
Competitive Comparison
For the Staffing & Employment Services subindustry, Kanzhun'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.
Kanzhun Beneish M-Score Distribution
For the Business Services industry and Industrials sector, Kanzhun's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kanzhun's Beneish M-Score falls into.
Kanzhun 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 Kanzhun 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 * 1.3295 | + | 0.528 * 1.0321 | + | 0.404 * 489.2098 | + | 0.892 * 1.1225 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.119 | + | 4.679 * -0.122976 | - | 0.327 * 1.0984 |
| = | 194.56 |
* 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 (Sep23) TTM: | Last Year (Sep22) TTM: |
Total Receivables was $3.1 Mil.
Revenue was 220.15 + 207.727 + 185.396 + 155.238 = $768.5 Mil.
Gross Profit was 183.492 + 169.98 + 149.528 + 126.207 = $629.2 Mil.
Total Current Assets was $1,844.0 Mil.
Total Assets was $2,373.8 Mil.
Property, Plant and Equipment(Net PPE) was $197.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.0 Mil.
Selling, General, & Admin. Expense(SGA) was $435.4 Mil.
Total Current Liabilities was $502.0 Mil.
Long-Term Debt & Capital Lease Obligation was $14.9 Mil.
Net Income was 58.334 + 43.231 + 4.74 + -26.506 = $79.8 Mil.
Non Operating Income was 24.846 + 13.722 + 8.149 + 5.774 = $52.5 Mil.
Cash Flow from Operations was 111.341 + 106.642 + 78.932 + 22.311 = $319.2 Mil.
|
Total Receivables was $2.1 Mil.
Revenue was 167.898 + 166.141 + 179.346 + 171.235 = $684.6 Mil.
Gross Profit was 139.28 + 140.117 + 151.394 + 147.719 = $578.5 Mil.
Total Current Assets was $2,063.8 Mil.
Total Assets was $2,187.1 Mil.
Property, Plant and Equipment(Net PPE) was $122.7 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.0 Mil.
Selling, General, & Admin. Expense(SGA) was $346.6 Mil.
Total Current Liabilities was $410.3 Mil.
Long-Term Debt & Capital Lease Obligation was $23.3 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) |
| = | (3.095 / 768.511) | / | (2.074 / 684.62) |
| = | 0.004027 | / | 0.003029 |
| | = | 1.3295 |
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) |
| = | (578.51 / 684.62) | / | (629.207 / 768.511) |
| = | 0.845009 | / | 0.818735 |
| | = | 1.0321 |
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 - (1843.988 + 197.667) / 2373.781) | / | (1 - (2063.802 + 122.707) / 2187.134) |
| = | 0.139914 | / | 0.000286 |
| | = | 489.2098 |
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 |
| = | 768.511 | / | 684.62 |
| | = | 1.1225 |
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)) |
| = | (0 / (0 + 122.707)) | / | (0 / (0 + 197.667)) |
| = | 0 | / | 0 |
| | = | 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) |
| = | (435.42 / 768.511) | / | (346.624 / 684.62) |
| = | 0.566576 | / | 0.506301 |
| | = | 1.119 |
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) |
| = | ((14.889 + 502.023) / 2373.781) | / | ((23.335 + 410.27) / 2187.134) |
| = | 0.217759 | / | 0.198253 |
| | = | 1.0984 |
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 |
| = | (79.799 - 52.491 | - | 319.226) | / | 2373.781 |
| | = | -0.122976 |
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.
Kanzhun has a M-score of 194.56 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
BZ has been successfully added to your