Sino-Ocean Group Holding Beneish M-Score Historical Data
The historical data trend for Sino-Ocean Group Holding'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.
Sino-Ocean Group Holding Beneish M-Score Chart
|
Sino-Ocean Group Holding Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.40 |
-2.53 |
-1.83 |
-1.40 |
-2.58 |
|
Sino-Ocean Group Holding Semi-Annual Data
|
|
Jun14 |
Dec14 |
Jun15 |
Dec15 |
Jun16 |
Dec16 |
Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.83 |
- |
-1.40 |
- |
-2.58 |
Competitive Comparison of Sino-Ocean Group Holding's Beneish M-Score
For the Real Estate - Development subindustry, Sino-Ocean Group Holding'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.
Sino-Ocean Group Holding's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Sino-Ocean Group Holding's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sino-Ocean Group Holding's Beneish M-Score falls into.
Sino-Ocean Group Holding 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 Sino-Ocean Group Holding 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 * 0.7447 | + | 0.528 * 2.0241 | + | 0.404 * 1.3042 | + | 0.892 * 0.9834 | + | 0.115 * 0.9815 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8122 | + | 4.679 * -0.110231 | - | 0.327 * 1.0948 |
| = | -2.58 |
* 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 $7,200 Mil.
Revenue was $6,507 Mil.
Gross Profit was $166 Mil.
Total Current Assets was $20,450 Mil.
Total Assets was $28,875 Mil.
Property, Plant and Equipment(Net PPE) was $734 Mil.
Depreciation, Depletion and Amortization(DDA) was $56 Mil.
Selling, General, & Admin. Expense(SGA) was $401 Mil.
Total Current Liabilities was $21,633 Mil.
Long-Term Debt & Capital Lease Obligation was $3,952 Mil.
Net Income was $-2,955 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $228 Mil.
|
Total Receivables was $9,831 Mil.
Revenue was $6,616 Mil.
Gross Profit was $341 Mil.
Total Current Assets was $27,173 Mil.
Total Assets was $34,850 Mil.
Property, Plant and Equipment(Net PPE) was $559 Mil.
Depreciation, Depletion and Amortization(DDA) was $42 Mil.
Selling, General, & Admin. Expense(SGA) was $502 Mil.
Total Current Liabilities was $19,707 Mil.
Long-Term Debt & Capital Lease Obligation was $8,499 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) |
| = | (7199.968 / 6506.682) | / | (9830.861 / 6616.261) |
| = | 1.10655 | / | 1.485864 |
| | = | 0.7447 |
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) |
| = | (340.941 / 6616.261) | / | (165.656 / 6506.682) |
| = | 0.051531 | / | 0.025459 |
| | = | 2.0241 |
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 - (20449.533 + 733.653) / 28874.867) | / | (1 - (27173.015 + 559.237) / 34850.325) |
| = | 0.26638 | / | 0.204247 |
| | = | 1.3042 |
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 |
| = | 6506.682 | / | 6616.261 |
| | = | 0.9834 |
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)) |
| = | (41.965 / (41.965 + 559.237)) | / | (56.169 / (56.169 + 733.653)) |
| = | 0.069802 | / | 0.071116 |
| | = | 0.9815 |
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) |
| = | (401.112 / 6506.682) | / | (502.148 / 6616.261) |
| = | 0.061646 | / | 0.075896 |
| | = | 0.8122 |
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) |
| = | ((3951.548 + 21633.191) / 28874.867) | / | ((8499.409 + 19707.112) / 34850.325) |
| = | 0.886056 | / | 0.809362 |
| | = | 1.0948 |
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 |
| = | (-2954.615 - 0 | - | 228.296) | / | 28874.867 |
| | = | -0.110231 |
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.
Sino-Ocean Group Holding has a M-score of -2.58 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SIOLF has been successfully added to your