DT&CRO Co Beneish M-Score Historical Data
The historical data trend for DT&CRO 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.
DT&CRO Co Beneish M-Score Chart
|
DT&CRO Co Annual Data
|
|
Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
- |
-4.17 |
|
DT&CRO Co Quarterly Data
|
|
Jun21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
- |
- |
- |
-4.17 |
-3.91 |
Competitive Comparison of DT&CRO Co's Beneish M-Score
For the Biotechnology subindustry, DT&CRO 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.
DT&CRO Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, DT&CRO Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where DT&CRO Co's Beneish M-Score falls into.
DT&CRO 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 DT&CRO 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 * 0 | + | 0.528 * -0.4064 | + | 0.404 * 8.2449 | + | 0.892 * 0.5158 | + | 0.115 * 0.1041 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 5.3026 | + | 4.679 * -0.260001 | - | 0.327 * 1.6293 |
| = | -3.91 |
* 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 ₩0 Mil.
Revenue was 6579.29 + 750.779 + 6677.083 + 8691.923 = ₩22,699 Mil.
Gross Profit was -2280.93 + -6887.331 + -1505.166 + -637.058 = ₩-11,310 Mil.
Total Current Assets was ₩27,065 Mil.
Total Assets was ₩73,140 Mil.
Property, Plant and Equipment(Net PPE) was ₩0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,300 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,624 Mil.
Total Current Liabilities was ₩33,100 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was -4633.068 + -12787.843 + -2752.762 + -2164.339 = ₩-22,338 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + 605.489 + -863.71 + -3063.228 = ₩-3,321 Mil.
|
Total Receivables was ₩15,792 Mil.
Revenue was 10466.493 + 10693.854 + 10348.384 + 12496.702 = ₩44,005 Mil.
Gross Profit was 2314.402 + 1187.071 + 2603.707 + 2806.459 = ₩8,912 Mil.
Total Current Assets was ₩31,465 Mil.
Total Assets was ₩66,272 Mil.
Property, Plant and Equipment(Net PPE) was ₩29,744 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,454 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,325 Mil.
Total Current Liabilities was ₩14,255 Mil.
Long-Term Debt & Capital Lease Obligation was ₩4,153 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) |
| = | (0 / 22699.075) | / | (15792.09 / 44005.433) |
| = | 0 | / | 0.358867 |
| | = | 0 |
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) |
| = | (8911.639 / 44005.433) | / | (-11310.485 / 22699.075) |
| = | 0.202512 | / | -0.49828 |
| | = | -0.4064 |
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 - (27065.391 + 0) / 73140.467) | / | (1 - (31464.688 + 29743.788) / 66271.982) |
| = | 0.629953 | / | 0.076405 |
| | = | 8.2449 |
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 |
| = | 22699.075 | / | 44005.433 |
| | = | 0.5158 |
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)) |
| = | (3454.302 / (3454.302 + 29743.788)) | / | (3300.086 / (3300.086 + 0)) |
| = | 0.104051 | / | 1 |
| | = | 0.1041 |
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) |
| = | (3623.926 / 22699.075) | / | (1324.912 / 44005.433) |
| = | 0.159651 | / | 0.030108 |
| | = | 5.3026 |
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) |
| = | ((0 + 33100.332) / 73140.467) | / | ((4152.996 + 14255.237) / 66271.982) |
| = | 0.452558 | / | 0.277768 |
| | = | 1.6293 |
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 |
| = | (-22338.012 - 0 | - | -3321.449) | / | 73140.467 |
| | = | -0.260001 |
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.
DT&CRO Co has a M-score of -3.91 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:383930 has been successfully added to your