Hyundai Futurenet Beneish M-Score Historical Data
The historical data trend for Hyundai Futurenet'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.
Hyundai Futurenet Beneish M-Score Chart
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Hyundai Futurenet Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-3.06 |
-0.75 |
-3.17 |
-1.72 |
-2.75 |
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Hyundai Futurenet Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-1.72 |
-1.97 |
-2.26 |
-2.81 |
-2.75 |
Competitive Comparison of Hyundai Futurenet's Beneish M-Score
For the Entertainment subindustry, Hyundai Futurenet'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.
Hyundai Futurenet's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Hyundai Futurenet's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hyundai Futurenet's Beneish M-Score falls into.
Hyundai Futurenet 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 Hyundai Futurenet 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 * 0.9104 | + | 0.528 * 1.1537 | + | 0.404 * 0.4634 | + | 0.892 * 1.0934 | + | 0.115 * 1.0114 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3755 | + | 4.679 * -0.012545 | - | 0.327 * 1.0488 |
| = | -2.75 |
* 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 ₩21,889 Mil.
Revenue was 39197.856 + 42005.792 + 47796.242 + 39615.099 = ₩168,615 Mil.
Gross Profit was 8236.106 + 12600.744 + 12403.89 + 11783.96 = ₩45,025 Mil.
Total Current Assets was ₩629,281 Mil.
Total Assets was ₩909,724 Mil.
Property, Plant and Equipment(Net PPE) was ₩113,699 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩12,616 Mil.
Selling, General, & Admin. Expense(SGA) was ₩12,407 Mil.
Total Current Liabilities was ₩65,065 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,491 Mil.
Net Income was -14568.677 + 2843.32 + 1991.744 + 7852.555 = ₩-1,881 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 863.167 + 14968.871 + -5100.228 + -1200.199 = ₩9,532 Mil.
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Total Receivables was ₩21,990 Mil.
Revenue was 31601.828 + 38153.159 + 43704.553 + 40753.695 = ₩154,213 Mil.
Gross Profit was 7828.157 + 13672.539 + 13546.698 + 12462.069 = ₩47,509 Mil.
Total Current Assets was ₩447,169 Mil.
Total Assets was ₩915,256 Mil.
Property, Plant and Equipment(Net PPE) was ₩106,100 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩11,922 Mil.
Selling, General, & Admin. Expense(SGA) was ₩8,250 Mil.
Total Current Liabilities was ₩62,051 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,755 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) |
| = | (21889.381 / 168614.989) | / | (21990.279 / 154213.235) |
| = | 0.129819 | / | 0.142597 |
| | = | 0.9104 |
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) |
| = | (47509.463 / 154213.235) | / | (45024.7 / 168614.989) |
| = | 0.308076 | / | 0.267027 |
| | = | 1.1537 |
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 - (629281.007 + 113699.109) / 909724.49) | / | (1 - (447169.041 + 106099.799) / 915256.452) |
| = | 0.183291 | / | 0.395504 |
| | = | 0.4634 |
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 |
| = | 168614.989 | / | 154213.235 |
| | = | 1.0934 |
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)) |
| = | (11922.351 / (11922.351 + 106099.799)) | / | (12616.282 / (12616.282 + 113699.109)) |
| = | 0.101018 | / | 0.099879 |
| | = | 1.0114 |
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) |
| = | (12407.355 / 168614.989) | / | (8249.59 / 154213.235) |
| = | 0.073584 | / | 0.053495 |
| | = | 1.3755 |
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) |
| = | ((2490.821 + 65065.046) / 909724.49) | / | ((2754.661 + 62050.802) / 915256.452) |
| = | 0.07426 | / | 0.070806 |
| | = | 1.0488 |
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 |
| = | (-1881.058 - 0 | - | 9531.611) | / | 909724.49 |
| | = | -0.012545 |
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.
Hyundai Futurenet has a M-score of -2.75 suggests that the company is unlikely to be a manipulator.
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