Jishanye (Jishanye) Beneish M-Score : 0.00 (As of May. 21, 2024)

View and export this data going back to 2014. Start your Free Trial

What is Jishanye 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.

The historical rank and industry rank for Jishanye's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of Jishanye was 0.00. The lowest was 0.00. And the median was 0.00.

Jishanye Beneish M-Score Historical Data

The historical data trend for Jishanye'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.

* Premium members only.

Jishanye Beneish M-Score Chart

Jishanye Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Beneish M-Score

Jishanye Quarterly Data
	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16
Beneish M-Score	Get a 7-Day Free Trial										-	-	-	-	-

Competitive Comparison of Jishanye's Beneish M-Score

For the Personal Services subindustry, Jishanye'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.

Jishanye's Beneish M-Score Distribution in the Personal Services Industry

For the Personal Services industry and Consumer Cyclical sector, Jishanye's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Jishanye's Beneish M-Score falls into.

Jishanye 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 Jishanye 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Mar16) TTM:

Last Year (Mar15) TTM:

Total Receivables was $0.01 Mil.
Revenue was 0.176 + 0.104 + 0.1 + 0 = $0.38 Mil.
Gross Profit was 0.051 + 0.021 + 0.012 + 0 = $0.08 Mil.
Total Current Assets was $1.08 Mil.
Total Assets was $1.10 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.41 Mil.
Total Current Liabilities was $0.70 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was -0.101 + -0.107 + -0.085 + -0.018 = $-0.31 Mil.
Non Operating Income was 0.009 + 0.004 + 0 + 0 = $0.01 Mil.
Cash Flow from Operations was -0.052 + -0.242 + -0.013 + -0.014 = $-0.32 Mil.

Total Receivables was $0.00 Mil.
Revenue was 0 + 0 + 0 + 0.018 = $0.02 Mil.
Gross Profit was 0 + 0 + 0 + 0.017 = $0.02 Mil.
Total Current Assets was $0.01 Mil.
Total Assets was $0.01 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.13 Mil.
Total Current Liabilities was $0.31 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 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)
	=	(0.007 / 0.38)	/	(0 / 0.018)
	=	0.018421	/	0
	=

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)
	=	(0.017 / 0.018)	/	(0.084 / 0.38)
	=	0.944444	/	0.221053
	=

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 - (1.083 + 0) / 1.095)	/	(1 - (0.007 + 0) / 0.007)
	=	0.010959	/	0
	=

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
	=	0.38	/	0.018
	=

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 + 0))	/	(0 / (0 + 0))
	=		/
	=

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)
	=	(0.408 / 0.38)	/	(0.133 / 0.018)
	=	1.073684	/	7.388889
	=

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 + 0.703) / 1.095)	/	((0 + 0.305) / 0.007)
	=	0.642009	/	43.571429
	=

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
	=	(-0.311 - 0.013	-	-0.321)	/	1.095
	=	-0.00274

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.

Jishanye Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Jishanye's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Jishanye (Jishanye) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Personal Services » Jishanye Inc (GREY:JSHY) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 247, Minsheng 1st Road, 7th Floor, Xinxing District, Kaohsiung City, TWN, 800

Website

http://www.jishanye.com

Jishanye Inc through its subsidiary provides funeral management services. The company is engaged in one single operating segment consisting of funeral management services in Taiwan. The company's funeral management services include providing the necessary setting and personnel to meet the grieving family's religious and cultural preferences. The firm also offers death care management consultancy services to small and medium-sized enterprises. Its other services consist of providing the family with funeral merchandise, such as a coffin, funeral clothes, mourning dress, flowers, wreaths, candles, funerary offerings, cremation urns, cemetery plots and management of the cemetery.

Jishanye (Jishanye) Headlines

No Headlines