Big Camera PCL Beneish M-Score Historical Data
The historical data trend for Big Camera PCL'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.
Big Camera PCL Beneish M-Score Chart
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Big Camera PCL Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-0.01 |
-3.69 |
-4.13 |
-2.56 |
-2.26 |
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Big Camera PCL Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.11 |
-2.26 |
-1.27 |
-1.64 |
-2.13 |
Competitive Comparison of Big Camera PCL's Beneish M-Score
For the Specialty Retail subindustry, Big Camera PCL'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.
Big Camera PCL's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Big Camera PCL's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Big Camera PCL's Beneish M-Score falls into.
Big Camera PCL 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 Big Camera PCL 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 | + | 0.528 * 1.0927 | + | 0.404 * 1.0178 | + | 0.892 * 1.1982 | + | 0.115 * 0.9542 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9033 | + | 4.679 * 0.02088 | - | 0.327 * 0.9748 |
| = | -2.13 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was ฿87 Mil.
Revenue was 890.929 + 878.685 + 935.18 + 905.341 = ฿3,610 Mil.
Gross Profit was 168.053 + 186.896 + 191.282 + 179.47 = ฿726 Mil.
Total Current Assets was ฿1,776 Mil.
Total Assets was ฿2,607 Mil.
Property, Plant and Equipment(Net PPE) was ฿484 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿294 Mil.
Selling, General, & Admin. Expense(SGA) was ฿709 Mil.
Total Current Liabilities was ฿658 Mil.
Long-Term Debt & Capital Lease Obligation was ฿137 Mil.
Net Income was 14.778 + 23.519 + 27.148 + 32.694 = ฿98 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ฿0 Mil.
Cash Flow from Operations was -37.801 + 23.43 + -28.096 + 86.177 = ฿44 Mil.
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Total Receivables was ฿72 Mil.
Revenue was 720.256 + 663.033 + 757.965 + 871.783 = ฿3,013 Mil.
Gross Profit was 154.453 + 157.111 + 163.712 + 186.528 = ฿662 Mil.
Total Current Assets was ฿1,715 Mil.
Total Assets was ฿2,561 Mil.
Property, Plant and Equipment(Net PPE) was ฿512 Mil.
Depreciation, Depletion and Amortization(DDA) was ฿289 Mil.
Selling, General, & Admin. Expense(SGA) was ฿655 Mil.
Total Current Liabilities was ฿629 Mil.
Long-Term Debt & Capital Lease Obligation was ฿173 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) |
| = | (86.828 / 3610.135) | / | (72.47 / 3013.037) |
| = | 0.024051 | / | 0.024052 |
| | = | 1 |
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) |
| = | (661.804 / 3013.037) | / | (725.701 / 3610.135) |
| = | 0.219647 | / | 0.201018 |
| | = | 1.0927 |
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 - (1775.956 + 483.988) / 2606.768) | / | (1 - (1714.639 + 511.829) / 2561.29) |
| = | 0.133048 | / | 0.130724 |
| | = | 1.0178 |
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 |
| = | 3610.135 | / | 3013.037 |
| | = | 1.1982 |
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)) |
| = | (288.686 / (288.686 + 511.829)) | / | (294.025 / (294.025 + 483.988)) |
| = | 0.360625 | / | 0.377918 |
| | = | 0.9542 |
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) |
| = | (708.537 / 3610.135) | / | (654.64 / 3013.037) |
| = | 0.196263 | / | 0.217269 |
| | = | 0.9033 |
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) |
| = | ((137.456 + 657.665) / 2606.768) | / | ((172.619 + 628.849) / 2561.29) |
| = | 0.305022 | / | 0.312916 |
| | = | 0.9748 |
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 |
| = | (98.139 - 0 | - | 43.71) | / | 2606.768 |
| | = | 0.02088 |
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.
Big Camera PCL has a M-score of -2.13 suggests that the company is unlikely to be a manipulator.
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