Kingsoft Cloud Holdings Beneish M-Score Historical Data
The historical data trend for Kingsoft Cloud Holdings'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.
Kingsoft Cloud Holdings Beneish M-Score Chart
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Kingsoft Cloud Holdings Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
-2.57 |
6.63 |
-3.52 |
-3.48 |
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Kingsoft Cloud Holdings Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
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Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
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Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-3.52 |
-3.94 |
-3.90 |
-3.64 |
-3.48 |
Competitive Comparison of Kingsoft Cloud Holdings's Beneish M-Score
For the Software - Application subindustry, Kingsoft Cloud Holdings'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.
Kingsoft Cloud Holdings's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Kingsoft Cloud Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kingsoft Cloud Holdings's Beneish M-Score falls into.
Kingsoft Cloud Holdings 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 Kingsoft Cloud Holdings 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 * 0.9102 | + | 0.528 * 0.431 | + | 0.404 * 1.124 | + | 0.892 * 0.8165 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0291 | + | 4.679 * -0.092931 | - | 0.327 * 1.2089 |
| = | -3.48 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $351.3 Mil.
Revenue was 241.233 + 222.695 + 256.291 + 270.56 = $990.8 Mil.
Gross Profit was 35.453 + 26.89 + 28.85 + 28.18 = $119.4 Mil.
Total Current Assets was $854.1 Mil.
Total Assets was $2,110.6 Mil.
Property, Plant and Equipment(Net PPE) was $449.0 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.0 Mil.
Selling, General, & Admin. Expense(SGA) was $170.3 Mil.
Total Current Liabilities was $956.4 Mil.
Long-Term Debt & Capital Lease Obligation was $69.6 Mil.
Net Income was -39.796 + -107.683 + -69.727 + -88.085 = $-305.3 Mil.
Non Operating Income was -1.368 + -58.642 + -24.526 + 0.643 = $-83.9 Mil.
Cash Flow from Operations was -35.667 + 2.791 + 47.004 + -39.383 = $-25.3 Mil.
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Total Receivables was $472.8 Mil.
Revenue was 305.666 + 280.474 + 284.756 + 342.623 = $1,213.5 Mil.
Gross Profit was 23.231 + 17.44 + 9.739 + 12.603 = $63.0 Mil.
Total Current Assets was $1,297.9 Mil.
Total Assets was $2,483.8 Mil.
Property, Plant and Equipment(Net PPE) was $340.3 Mil.
Depreciation, Depletion and Amortization(DDA) was $88.7 Mil.
Selling, General, & Admin. Expense(SGA) was $202.7 Mil.
Total Current Liabilities was $955.1 Mil.
Long-Term Debt & Capital Lease Obligation was $43.6 Mil.
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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) |
| = | (351.319 / 990.779) | / | (472.76 / 1213.519) |
| = | 0.354589 | / | 0.389578 |
| | = | 0.9102 |
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) |
| = | (63.013 / 1213.519) | / | (119.373 / 990.779) |
| = | 0.051926 | / | 0.120484 |
| | = | 0.431 |
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 - (854.055 + 448.953) / 2110.624) | / | (1 - (1297.869 + 340.339) / 2483.789) |
| = | 0.382643 | / | 0.34044 |
| | = | 1.124 |
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 |
| = | 990.779 | / | 1213.519 |
| | = | 0.8165 |
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)) |
| = | (88.739 / (88.739 + 340.339)) | / | (0 / (0 + 448.953)) |
| = | 0.206813 | / | 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) |
| = | (170.27 / 990.779) | / | (202.655 / 1213.519) |
| = | 0.171855 | / | 0.166998 |
| | = | 1.0291 |
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) |
| = | ((69.557 + 956.358) / 2110.624) | / | ((43.587 + 955.094) / 2483.789) |
| = | 0.486072 | / | 0.40208 |
| | = | 1.2089 |
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 |
| = | (-305.291 - -83.893 | - | -25.255) | / | 2110.624 |
| | = | -0.092931 |
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.
Kingsoft Cloud Holdings has a M-score of -3.48 suggests that the company is unlikely to be a manipulator.
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