Hokuyaku Takeyama Holdings Beneish M-Score Historical Data
The historical data trend for Hokuyaku Takeyama 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.
Hokuyaku Takeyama Holdings Beneish M-Score Chart
|
Hokuyaku Takeyama Holdings Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.48 |
-2.57 |
-2.43 |
-2.49 |
-2.32 |
|
Hokuyaku Takeyama Holdings 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.50 |
-2.32 |
-2.34 |
-2.51 |
-2.40 |
Competitive Comparison of Hokuyaku Takeyama Holdings's Beneish M-Score
For the Medical Distribution subindustry, Hokuyaku Takeyama 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.
Hokuyaku Takeyama Holdings's Beneish M-Score Distribution in the Medical Distribution Industry
For the Medical Distribution industry and Healthcare sector, Hokuyaku Takeyama Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hokuyaku Takeyama Holdings's Beneish M-Score falls into.
Hokuyaku Takeyama 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 Hokuyaku Takeyama 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 * 1.0027 | + | 0.528 * 1.0442 | + | 0.404 * 0.9874 | + | 0.892 * 1.051 | + | 0.115 * 1.0936 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0218 | + | 4.679 * 0.002311 | - | 0.327 * 1.0013 |
| = | -2.40 |
* 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 円61,946 Mil.
Revenue was 73279 + 67879 + 68005 + 62908 = 円272,071 Mil.
Gross Profit was 5769 + 4827 + 5060 + 4521 = 円20,177 Mil.
Total Current Assets was 円109,604 Mil.
Total Assets was 円151,878 Mil.
Property, Plant and Equipment(Net PPE) was 円22,691 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,186 Mil.
Selling, General, & Admin. Expense(SGA) was 円1,149 Mil.
Total Current Liabilities was 円89,055 Mil.
Long-Term Debt & Capital Lease Obligation was 円13 Mil.
Net Income was 1075 + 233 + 497 + 293 = 円2,098 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was -1968 + 1570 + 4924 + -2779 = 円1,747 Mil.
|
Total Receivables was 円58,778 Mil.
Revenue was 69421 + 65629 + 64021 + 59793 = 円258,864 Mil.
Gross Profit was 5455 + 5069 + 4914 + 4609 = 円20,047 Mil.
Total Current Assets was 円106,675 Mil.
Total Assets was 円146,585 Mil.
Property, Plant and Equipment(Net PPE) was 円20,769 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,193 Mil.
Selling, General, & Admin. Expense(SGA) was 円1,070 Mil.
Total Current Liabilities was 円85,839 Mil.
Long-Term Debt & Capital Lease Obligation was 円15 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) |
| = | (61946 / 272071) | / | (58778 / 258864) |
| = | 0.227683 | / | 0.227061 |
| | = | 1.0027 |
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) |
| = | (20047 / 258864) | / | (20177 / 272071) |
| = | 0.077442 | / | 0.074161 |
| | = | 1.0442 |
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 - (109604 + 22691) / 151878) | / | (1 - (106675 + 20769) / 146585) |
| = | 0.128939 | / | 0.13058 |
| | = | 0.9874 |
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 |
| = | 272071 | / | 258864 |
| | = | 1.051 |
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)) |
| = | (1193 / (1193 + 20769)) | / | (1186 / (1186 + 22691)) |
| = | 0.054321 | / | 0.049671 |
| | = | 1.0936 |
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) |
| = | (1149 / 272071) | / | (1070 / 258864) |
| = | 0.004223 | / | 0.004133 |
| | = | 1.0218 |
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) |
| = | ((13 + 89055) / 151878) | / | ((15 + 85839) / 146585) |
| = | 0.586444 | / | 0.585694 |
| | = | 1.0013 |
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 |
| = | (2098 - 0 | - | 1747) | / | 151878 |
| | = | 0.002311 |
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.
Hokuyaku Takeyama Holdings has a M-score of -2.40 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SSE:3055 has been successfully added to your