Colorlight Cloud Tech Beneish M-Score Historical Data
The historical data trend for Colorlight Cloud Tech'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.
Colorlight Cloud Tech Beneish M-Score Chart
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Colorlight Cloud Tech Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-1.26 |
7.84 |
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Colorlight Cloud Tech Quarterly Data
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Dec18 |
Dec19 |
Dec20 |
Mar21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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- |
-0.28 |
-2.19 |
7.84 |
7.37 |
Competitive Comparison of Colorlight Cloud Tech's Beneish M-Score
For the Communication Equipment subindustry, Colorlight Cloud Tech'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.
Colorlight Cloud Tech's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Colorlight Cloud Tech's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Colorlight Cloud Tech's Beneish M-Score falls into.
Colorlight Cloud Tech 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 Colorlight Cloud Tech 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 * 1.3458 | + | 0.528 * 0.875 | + | 0.404 * 23.0725 | + | 0.892 * 1.4638 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3502 | + | 4.679 * 0.086173 | - | 0.327 * 1.2189 |
| = | 7.37 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ¥722 Mil.
Revenue was 142.734 + 452.282 + 214.601 + 220.364 = ¥1,030 Mil.
Gross Profit was 67.685 + 222.636 + 108.969 + 97.986 = ¥497 Mil.
Total Current Assets was ¥2,385 Mil.
Total Assets was ¥2,879 Mil.
Property, Plant and Equipment(Net PPE) was ¥48 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥139 Mil.
Total Current Liabilities was ¥636 Mil.
Long-Term Debt & Capital Lease Obligation was ¥17 Mil.
Net Income was 18.886 + 92.787 + 39.608 + 41.066 = ¥192 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -76.631 + 42.28 + -39.243 + 17.864 = ¥-56 Mil.
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Total Receivables was ¥366 Mil.
Revenue was 132.71 + 255.204 + 153.447 + 162.286 = ¥704 Mil.
Gross Profit was 60.801 + 112.184 + 56.429 + 67.831 = ¥297 Mil.
Total Current Assets was ¥2,457 Mil.
Total Assets was ¥2,532 Mil.
Property, Plant and Equipment(Net PPE) was ¥58 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥70 Mil.
Total Current Liabilities was ¥439 Mil.
Long-Term Debt & Capital Lease Obligation was ¥32 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) |
| = | (721.743 / 1029.981) | / | (366.388 / 703.647) |
| = | 0.700734 | / | 0.520699 |
| | = | 1.3458 |
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) |
| = | (297.245 / 703.647) | / | (497.276 / 1029.981) |
| = | 0.422435 | / | 0.482801 |
| | = | 0.875 |
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 - (2385.162 + 48.434) / 2878.819) | / | (1 - (2457.032 + 57.992) / 2531.995) |
| = | 0.154655 | / | 0.006703 |
| | = | 23.0725 |
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 |
| = | 1029.981 | / | 703.647 |
| | = | 1.4638 |
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 + 57.992)) | / | (0 / (0 + 48.434)) |
| = | 0 | / | 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) |
| = | (138.974 / 1029.981) | / | (70.315 / 703.647) |
| = | 0.134929 | / | 0.099929 |
| | = | 1.3502 |
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) |
| = | ((16.865 + 635.699) / 2878.819) | / | ((31.558 + 439.308) / 2531.995) |
| = | 0.226678 | / | 0.185966 |
| | = | 1.2189 |
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 |
| = | (192.347 - 0 | - | -55.73) | / | 2878.819 |
| | = | 0.086173 |
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.
Colorlight Cloud Tech has a M-score of 7.37 signals that the company is likely to be a manipulator.
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