Ibkimyoung Co Beneish M-Score Historical Data
The historical data trend for Ibkimyoung Co'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.
Ibkimyoung Co Beneish M-Score Chart
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Ibkimyoung Co Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
-3.41 |
-3.66 |
-3.39 |
-3.01 |
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Ibkimyoung Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-3.18 |
-0.12 |
-0.18 |
-3.01 |
-2.93 |
Competitive Comparison of Ibkimyoung Co's Beneish M-Score
For the Shell Companies subindustry, Ibkimyoung Co'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.
Ibkimyoung Co's Beneish M-Score Distribution in the Diversified Financial Services Industry
For the Diversified Financial Services industry and Financial Services sector, Ibkimyoung Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ibkimyoung Co's Beneish M-Score falls into.
Ibkimyoung Co 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 Ibkimyoung Co 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 * 1.2296 | + | 0.528 * 0.9929 | + | 0.404 * 0.8824 | + | 0.892 * 1.1042 | + | 0.115 * 1.0181 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8916 | + | 4.679 * -0.155816 | - | 0.327 * 0.973 |
| = | -2.93 |
* 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 ₩5,158 Mil.
Revenue was 19486.1 + 27306.545 + 28239.019 + 22008.636 = ₩97,040 Mil.
Gross Profit was 13310.291 + 19276.779 + 19801.477 + 15252.279 = ₩67,641 Mil.
Total Current Assets was ₩45,693 Mil.
Total Assets was ₩91,695 Mil.
Property, Plant and Equipment(Net PPE) was ₩23,571 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩12,016 Mil.
Selling, General, & Admin. Expense(SGA) was ₩19,517 Mil.
Total Current Liabilities was ₩42,221 Mil.
Long-Term Debt & Capital Lease Obligation was ₩6,872 Mil.
Net Income was -828.255 + 3539.289 + 4640.747 + 1624.603 = ₩8,976 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 7971.343 + 1579.903 + 6213.044 + 7499.661 = ₩23,264 Mil.
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Total Receivables was ₩3,799 Mil.
Revenue was 17144.543 + 24770.372 + 25547.725 + 20416.63 = ₩87,879 Mil.
Gross Profit was 11671.715 + 17339.036 + 17727.226 + 14080.24 = ₩60,818 Mil.
Total Current Assets was ₩30,454 Mil.
Total Assets was ₩77,146 Mil.
Property, Plant and Equipment(Net PPE) was ₩25,306 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩13,255 Mil.
Selling, General, & Admin. Expense(SGA) was ₩19,822 Mil.
Total Current Liabilities was ₩35,958 Mil.
Long-Term Debt & Capital Lease Obligation was ₩6,492 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) |
| = | (5158.08 / 97040.3) | / | (3799.02 / 87879.27) |
| = | 0.053154 | / | 0.04323 |
| | = | 1.2296 |
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) |
| = | (60818.217 / 87879.27) | / | (67640.826 / 97040.3) |
| = | 0.692066 | / | 0.697039 |
| | = | 0.9929 |
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 - (45692.992 + 23571.208) / 91695.254) | / | (1 - (30453.853 + 25306.261) / 77146.07) |
| = | 0.244626 | / | 0.277214 |
| | = | 0.8824 |
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 |
| = | 97040.3 | / | 87879.27 |
| | = | 1.1042 |
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)) |
| = | (13255.416 / (13255.416 + 25306.261)) | / | (12016.104 / (12016.104 + 23571.208)) |
| = | 0.343746 | / | 0.337651 |
| | = | 1.0181 |
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) |
| = | (19516.84 / 97040.3) | / | (19822.135 / 87879.27) |
| = | 0.201121 | / | 0.225561 |
| | = | 0.8916 |
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) |
| = | ((6871.925 + 42221.484) / 91695.254) | / | ((6492.116 + 35957.802) / 77146.07) |
| = | 0.535397 | / | 0.550254 |
| | = | 0.973 |
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 |
| = | (8976.384 - 0 | - | 23263.951) | / | 91695.254 |
| | = | -0.155816 |
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.
Ibkimyoung Co has a M-score of -2.93 suggests that the company is unlikely to be a manipulator.
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