Toyo Knitex (CEPZ) (DHA:MITHUNKNIT) Beneish M-Score : 0.00 (As of Apr. 29, 2025)

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What is Toyo Knitex (CEPZ) Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

The historical rank and industry rank for Toyo Knitex (CEPZ)'s Beneish M-Score or its related term are showing as below:

During the past 8 years, the highest Beneish M-Score of Toyo Knitex (CEPZ) was 0.00. The lowest was 0.00. And the median was 0.00.

Toyo Knitex (CEPZ) Beneish M-Score Historical Data

The historical data trend for Toyo Knitex (CEPZ)'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.

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Toyo Knitex (CEPZ) Beneish M-Score Chart

Toyo Knitex (CEPZ) Annual Data

Trend

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Beneish M-Score

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Toyo Knitex (CEPZ) Semi-Annual Data
	Jun17	Jun18	Jun19	Jun20	Jun21	Jun22	Jun23	Jun24
Beneish M-Score	Get a 7-Day Free Trial			-	-	-	-	-

Competitive Comparison of Toyo Knitex (CEPZ)'s Beneish M-Score

For the Textile Manufacturing subindustry, Toyo Knitex (CEPZ)'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.

Toyo Knitex (CEPZ)'s Beneish M-Score Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Toyo Knitex (CEPZ)'s Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Toyo Knitex (CEPZ)'s Beneish M-Score falls into.

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Toyo Knitex (CEPZ) 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 Toyo Knitex (CEPZ) for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Jun24) TTM:

Last Year (Jun23) TTM:

Total Receivables was BDT196.95 Mil.
Revenue was BDT0.00 Mil.
Gross Profit was BDT0.00 Mil.
Total Current Assets was BDT308.78 Mil.
Total Assets was BDT367.45 Mil.
Property, Plant and Equipment(Net PPE) was BDT58.67 Mil.
Depreciation, Depletion and Amortization(DDA) was BDT0.00 Mil.
Selling, General, & Admin. Expense(SGA) was BDT0.00 Mil.
Total Current Liabilities was BDT187.33 Mil.
Long-Term Debt & Capital Lease Obligation was BDT0.00 Mil.
Net Income was BDT0.00 Mil.
Gross Profit was BDT0.00 Mil.
Cash Flow from Operations was BDT0.00 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)
	=	(196.95 / 0)	/	(196.95 / 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)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

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 - (308.78 + 58.669) / 367.449)	/	(1 - (308.78 + 58.669) / 367.449)
	=	0	/	0
	=

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
	=	0	/	0
	=

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))
	=	(0 / (0 + 58.669))	/	(0 / (0 + 58.669))
	=	0	/	0
	=

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)
	=	(0 / 0)	/	(0 / 0)
	=		/
	=

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 + 187.331) / 367.449)	/	((0 + 187.331) / 367.449)
	=	0.509815	/	0.509815
	=

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
	=	(0 - 0	-	0)	/	367.449
	=	0

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.

Toyo Knitex (CEPZ) Beneish M-Score Related Terms

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Toyo Knitex (CEPZ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Toyo Knitex (CEPZ) Ltd (DHA:MITHUNKNIT) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

Road 37, Gulshan Avenue, House No. 50, 6th Floor, South Avenue Tower, Dhaka, BGD, 1212

Website

http://www.mkdl-cepz.com.bd

Toyo Knitex (CEPZ) Ltd is engaged in the activity of carrying on Knitting, Dying & knitting garments manufacturing. The company is a pure export-oriented garments factory. The company manufactures and exports single jersey, interlock, rib, French terry, collar and cuff, rib with Lycra, and knit garments of all sorts in Bangladesh.

Toyo Knitex (CEPZ) Headlines

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