Brother Industries Beneish M-Score Historical Data
The historical data trend for Brother Industries'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.
Brother Industries Beneish M-Score Chart
|
Brother Industries Annual Data
|
|
Trend |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.84 |
-3.00 |
-2.41 |
-2.15 |
-3.02 |
|
Brother Industries Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.15 |
-2.42 |
-2.64 |
-2.94 |
-3.02 |
Competitive Comparison of Brother Industries's Beneish M-Score
For the Business Equipment & Supplies subindustry, Brother Industries'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.
Brother Industries's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Brother Industries's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Brother Industries's Beneish M-Score falls into.
Brother Industries 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 Brother Industries 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 * 1.0576 | + | 0.528 * 0.9078 | + | 0.404 * 0.8907 | + | 0.892 * 1.0094 | + | 0.115 * 1.041 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0693 | + | 4.679 * -0.122066 | - | 0.327 * 0.7867 |
| = | -3.02 |
* 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 円131,591 Mil.
Revenue was 210164 + 213133 + 199225 + 200407 = 円822,929 Mil.
Gross Profit was 90997 + 90790 + 85639 + 87913 = 円355,339 Mil.
Total Current Assets was 円541,899 Mil.
Total Assets was 円896,109 Mil.
Property, Plant and Equipment(Net PPE) was 円180,359 Mil.
Depreciation, Depletion and Amortization(DDA) was 円47,537 Mil.
Selling, General, & Admin. Expense(SGA) was 円279,760 Mil.
Total Current Liabilities was 円166,743 Mil.
Long-Term Debt & Capital Lease Obligation was 円600 Mil.
Net Income was -14969 + 17712 + 12658 + 16243 = 円31,644 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 36825 + 47169 + 34649 + 22385 = 円141,028 Mil.
|
Total Receivables was 円123,260 Mil.
Revenue was 201795 + 216807 + 196931 + 199734 = 円815,267 Mil.
Gross Profit was 79464 + 81511 + 74503 + 84108 = 円319,586 Mil.
Total Current Assets was 円511,746 Mil.
Total Assets was 円850,486 Mil.
Property, Plant and Equipment(Net PPE) was 円153,498 Mil.
Depreciation, Depletion and Amortization(DDA) was 円42,575 Mil.
Selling, General, & Admin. Expense(SGA) was 円259,182 Mil.
Total Current Liabilities was 円201,276 Mil.
Long-Term Debt & Capital Lease Obligation was 円600 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) |
| = | (131591 / 822929) | / | (123260 / 815267) |
| = | 0.159906 | / | 0.15119 |
| | = | 1.0576 |
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) |
| = | (319586 / 815267) | / | (355339 / 822929) |
| = | 0.392002 | / | 0.431798 |
| | = | 0.9078 |
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 - (541899 + 180359) / 896109) | / | (1 - (511746 + 153498) / 850486) |
| = | 0.194007 | / | 0.217807 |
| | = | 0.8907 |
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 |
| = | 822929 | / | 815267 |
| | = | 1.0094 |
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)) |
| = | (42575 / (42575 + 153498)) | / | (47537 / (47537 + 180359)) |
| = | 0.217139 | / | 0.208591 |
| | = | 1.041 |
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) |
| = | (279760 / 822929) | / | (259182 / 815267) |
| = | 0.339956 | / | 0.317911 |
| | = | 1.0693 |
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) |
| = | ((600 + 166743) / 896109) | / | ((600 + 201276) / 850486) |
| = | 0.186744 | / | 0.237365 |
| | = | 0.7867 |
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 |
| = | (31644 - 0 | - | 141028) | / | 896109 |
| | = | -0.122066 |
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.
Brother Industries has a M-score of -3.02 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSE:6448 has been successfully added to your