Johns Lyng Group Beneish M-Score Historical Data
The historical data trend for Johns Lyng Group'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.
Johns Lyng Group Beneish M-Score Chart
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Johns Lyng Group Annual Data
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Trend |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
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-2.47 |
-2.53 |
-1.12 |
-2.83 |
-2.39 |
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Johns Lyng Group Semi-Annual Data
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Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
Jun24 |
Dec24 |
| Beneish M-Score |
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-2.83 |
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-2.39 |
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Competitive Comparison of Johns Lyng Group's Beneish M-Score
For the Engineering & Construction subindustry, Johns Lyng Group'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.
Johns Lyng Group's Beneish M-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, Johns Lyng Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Johns Lyng Group's Beneish M-Score falls into.
Johns Lyng Group 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 Johns Lyng Group 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 * 1.036 | + | 0.528 * 0.8603 | + | 0.404 * 1.2247 | + | 0.892 * 0.9044 | + | 0.115 * 0.7354 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1016 | + | 4.679 * 0.0241 | - | 0.327 * 0.8221 |
| = | -2.39 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was A$198 Mil.
Revenue was A$1,159 Mil.
Gross Profit was A$289 Mil.
Total Current Assets was A$332 Mil.
Total Assets was A$786 Mil.
Property, Plant and Equipment(Net PPE) was A$60 Mil.
Depreciation, Depletion and Amortization(DDA) was A$30 Mil.
Selling, General, & Admin. Expense(SGA) was A$110 Mil.
Total Current Liabilities was A$262 Mil.
Long-Term Debt & Capital Lease Obligation was A$53 Mil.
Net Income was A$48 Mil.
Gross Profit was A$-0 Mil.
Cash Flow from Operations was A$29 Mil.
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Total Receivables was A$211 Mil.
Revenue was A$1,281 Mil.
Gross Profit was A$275 Mil.
Total Current Assets was A$400 Mil.
Total Assets was A$785 Mil.
Property, Plant and Equipment(Net PPE) was A$65 Mil.
Depreciation, Depletion and Amortization(DDA) was A$21 Mil.
Selling, General, & Admin. Expense(SGA) was A$110 Mil.
Total Current Liabilities was A$320 Mil.
Long-Term Debt & Capital Lease Obligation was A$62 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) |
| = | (197.871 / 1158.876) | / | (211.171 / 1281.312) |
| = | 0.170744 | / | 0.164808 |
| | = | 1.036 |
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) |
| = | (275.096 / 1281.312) | / | (289.206 / 1158.876) |
| = | 0.214699 | / | 0.249557 |
| | = | 0.8603 |
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 - (332.413 + 60.334) / 786.071) | / | (1 - (399.618 + 64.949) / 785.482) |
| = | 0.500367 | / | 0.408558 |
| | = | 1.2247 |
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 |
| = | 1158.876 | / | 1281.312 |
| | = | 0.9044 |
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)) |
| = | (21.179 / (21.179 + 64.949)) | / | (30.311 / (30.311 + 60.334)) |
| = | 0.245901 | / | 0.334392 |
| | = | 0.7354 |
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) |
| = | (109.727 / 1158.876) | / | (110.133 / 1281.312) |
| = | 0.094684 | / | 0.085953 |
| | = | 1.1016 |
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) |
| = | ((52.528 + 261.802) / 786.071) | / | ((62.487 + 319.579) / 785.482) |
| = | 0.399875 | / | 0.48641 |
| | = | 0.8221 |
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 |
| = | (48.012 - -0.245 | - | 29.313) | / | 786.071 |
| | = | 0.0241 |
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.
Johns Lyng Group has a M-score of -2.39 suggests that the company is unlikely to be a manipulator.
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