Golden Sun Health Technology Group (Golden Sun Health Technology Group) Beneish M-Score : 0.07 (As of Jun. 16, 2024)

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What is Golden Sun Health Technology Group 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.

Warning Sign:

Beneish M-Score 0.07 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Golden Sun Health Technology Group's Beneish M-Score or its related term are showing as below:

GSUN' s Beneish M-Score Range Over the Past 10 Years
Min: -3.49 Med: 0.07 Max: 1.94
Current: 0.07

During the past 5 years, the highest Beneish M-Score of Golden Sun Health Technology Group was 1.94. The lowest was -3.49. And the median was 0.07.

Golden Sun Health Technology Group Beneish M-Score Historical Data

The historical data trend for Golden Sun Health Technology 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.

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Golden Sun Health Technology Group Beneish M-Score Chart

Golden Sun Health Technology Group Annual Data

Trend

Sep19

Sep20

Sep21

Sep22

Sep23

Beneish M-Score

1.94

-3.49

0.07

Golden Sun Health Technology Group Semi-Annual Data
	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Beneish M-Score	Get a 7-Day Free Trial				1.94	-	-3.49	-	0.07

Competitive Comparison of Golden Sun Health Technology Group's Beneish M-Score

For the Education & Training Services subindustry, Golden Sun Health Technology 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.

Golden Sun Health Technology Group's Beneish M-Score Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Golden Sun Health Technology Group's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Golden Sun Health Technology Group's Beneish M-Score falls into.

Golden Sun Health Technology 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 Golden Sun Health Technology Group 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 * 1.1257

0.528 * 1.5282

0.404 * 7.0429

0.892 * 0.5692

0.115 * 1.4932

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 2.1933

4.679 * 0.068387

0.327 * 1.23

0.07

This Year (Sep23) TTM:

Last Year (Sep22) TTM:

Total Receivables was $0.48 Mil.
Revenue was $6.16 Mil.
Gross Profit was $1.79 Mil.
Total Current Assets was $12.05 Mil.
Total Assets was $19.45 Mil.
Property, Plant and Equipment(Net PPE) was $1.67 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.48 Mil.
Selling, General, & Admin. Expense(SGA) was $7.93 Mil.
Total Current Liabilities was $10.82 Mil.
Long-Term Debt & Capital Lease Obligation was $4.19 Mil.
Net Income was $-5.79 Mil.
Gross Profit was $0.83 Mil.
Cash Flow from Operations was $-7.94 Mil.

Total Receivables was $0.75 Mil.
Revenue was $10.82 Mil.
Gross Profit was $4.81 Mil.
Total Current Assets was $22.12 Mil.
Total Assets was $23.44 Mil.
Property, Plant and Equipment(Net PPE) was $0.34 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.17 Mil.
Selling, General, & Admin. Expense(SGA) was $6.35 Mil.
Total Current Liabilities was $12.57 Mil.
Long-Term Debt & Capital Lease Obligation was $2.14 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)
	=	(0.478 / 6.156)	/	(0.746 / 10.815)
	=	0.077648	/	0.068978
	=	1.1257

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)
	=	(4.811 / 10.815)	/	(1.792 / 6.156)
	=	0.444845	/	0.291098
	=	1.5282

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 - (12.054 + 1.673) / 19.448)	/	(1 - (22.116 + 0.344) / 23.439)
	=	0.294169	/	0.041768
	=	7.0429

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
	=	6.156	/	10.815
	=	0.5692

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))
	=	(0.17 / (0.17 + 0.344))	/	(0.476 / (0.476 + 1.673))
	=	0.330739	/	0.221498
	=	1.4932

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)
	=	(7.93 / 6.156)	/	(6.352 / 10.815)
	=	1.288174	/	0.587332
	=	2.1933

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)
	=	((4.192 + 10.816) / 19.448)	/	((2.137 + 12.569) / 23.439)
	=	0.771699	/	0.627416
	=	1.23

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
	=	(-5.786 - 0.826	-	-7.942)	/	19.448
	=	0.068387

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.

Golden Sun Health Technology Group has a M-score of 0.07 signals that the company is likely to be a manipulator.

Golden Sun Health Technology Group Beneish M-Score Related Terms

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Golden Sun Health Technology Group (Golden Sun Health Technology Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Golden Sun Health Technology Group Ltd (NAS:GSUN) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Profit Huiyin Square North Building, Huashan 2018, Unit 1001, Xuhui District, Shanghai, CHN

Website

https://www.jtyjyjt.com

Golden Sun Education Group Ltd is engaged in the provision of education and management services in the People's Republic of China. The company offers private school educational services and foreign language tutorial services and other education training management services. The firm operates four tutorial centers; Yangfushan Tutorial offers a Gaokao repeater tutorial program to high school students who retake Gaokao, Hongkou Tutorial offers various English and other foreign language tutorial programs, Jicai Tutorial offers non-English foreign language tutorial programs to individual students, companies, and other organizations and Zhouzhi Tutorial offers non-English foreign language tutorial programs to individual students, companies and other organizations.