Ahsay Backup Software Development Co (HKSE:08290) Beneish M-Score : -2.80 (As of May. 27, 2024)

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What is Ahsay Backup Software Development Co 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 -2.8 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Ahsay Backup Software Development Co's Beneish M-Score or its related term are showing as below:

HKSE:08290' s Beneish M-Score Range Over the Past 10 Years
Min: -3.39 Med: -2.55 Max: 0.05
Current: -2.8

During the past 10 years, the highest Beneish M-Score of Ahsay Backup Software Development Co was 0.05. The lowest was -3.39. And the median was -2.55.

Ahsay Backup Software Development Co Beneish M-Score Historical Data

The historical data trend for Ahsay Backup Software Development 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.

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Ahsay Backup Software Development Co Beneish M-Score Chart

Ahsay Backup Software Development Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.30

-2.92

-3.39

0.05

-2.80

Ahsay Backup Software Development Co Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Beneish M-Score	Get a 7-Day Free Trial															0.05	-	-	-	-2.80

Competitive Comparison of Ahsay Backup Software Development Co's Beneish M-Score

For the Software - Application subindustry, Ahsay Backup Software Development 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.

Ahsay Backup Software Development Co's Beneish M-Score Distribution in the Software Industry

For the Software industry and Technology sector, Ahsay Backup Software Development Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Ahsay Backup Software Development Co's Beneish M-Score falls into.

Ahsay Backup Software Development 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 Ahsay Backup Software Development Co 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 * 0.6773

0.528 * 0.9962

0.404 * 1.0161

0.892 * 0.9282

0.115 * 0.825

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.8574

4.679 * -0.00722

0.327 * 0.7837

-2.80

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$3.07 Mil.
Revenue was HK$41.66 Mil.
Gross Profit was HK$41.61 Mil.
Total Current Assets was HK$66.05 Mil.
Total Assets was HK$78.94 Mil.
Property, Plant and Equipment(Net PPE) was HK$9.60 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$3.74 Mil.
Selling, General, & Admin. Expense(SGA) was HK$2.71 Mil.
Total Current Liabilities was HK$19.86 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.00 Mil.
Net Income was HK$2.64 Mil.
Gross Profit was HK$0.00 Mil.
Cash Flow from Operations was HK$3.21 Mil.

Total Receivables was HK$4.88 Mil.
Revenue was HK$44.88 Mil.
Gross Profit was HK$44.66 Mil.
Total Current Assets was HK$64.95 Mil.
Total Assets was HK$81.51 Mil.
Property, Plant and Equipment(Net PPE) was HK$13.22 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$3.98 Mil.
Selling, General, & Admin. Expense(SGA) was HK$3.41 Mil.
Total Current Liabilities was HK$23.59 Mil.
Long-Term Debt & Capital Lease Obligation was HK$2.57 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)
	=	(3.068 / 41.659)	/	(4.88 / 44.882)
	=	0.073646	/	0.10873
	=	0.6773

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)
	=	(44.659 / 44.882)	/	(41.612 / 41.659)
	=	0.995031	/	0.998872
	=	0.9962

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 - (66.052 + 9.604) / 78.943)	/	(1 - (64.946 + 13.22) / 81.506)
	=	0.041638	/	0.040979
	=	1.0161

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
	=	41.659	/	44.882
	=	0.9282

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))
	=	(3.977 / (3.977 + 13.22))	/	(3.741 / (3.741 + 9.604))
	=	0.231261	/	0.28033
	=	0.825

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)
	=	(2.713 / 41.659)	/	(3.409 / 44.882)
	=	0.065124	/	0.075955
	=	0.8574

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)
	=	((0 + 19.858) / 78.943)	/	((2.572 + 23.588) / 81.506)
	=	0.251549	/	0.320958
	=	0.7837

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
	=	(2.644 - 0	-	3.214)	/	78.943
	=	-0.00722

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.

Ahsay Backup Software Development Co has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.

Ahsay Backup Software Development Co Beneish M-Score Related Terms

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Ahsay Backup Software Development Co (HKSE:08290) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Ahsay Backup Software Development Co Ltd (HKSE:08290) » Definitions » Beneish M-Score

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Traded in Other Exchanges

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Address

No. 37 Wing Hong Street, 28th Floor, Ford Glory Plaza, Lai Chi Kok, Kowloon, Hong Kong, HKG

Website

http://www.ahsay.com.hk

Ahsay Backup Software Development Co Ltd is an investment holding company. It is engaged in the provision of online backup software solutions to clients via the internet. The company has two business segments. Online backup software and related services segment that provides software license sales and leasing, software upgrades and maintenance services, sales of hardware devices, and other services; and Information platform segment. The Online backup software and related services segment generate maximum revenue for the company. Geographically the company derives revenue from the United States and other countries.

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