SenseTime Group Beneish M-Score Historical Data
The historical data trend for SenseTime 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.
SenseTime Group Beneish M-Score Chart
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SenseTime Group Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
-2.87 |
-4.26 |
-2.87 |
-3.08 |
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SenseTime Group Semi-Annual Data
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Dec18 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
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-4.26 |
- |
-2.87 |
- |
-3.08 |
Competitive Comparison of SenseTime Group's Beneish M-Score
For the Software - Application subindustry, SenseTime 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.
SenseTime Group's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, SenseTime Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where SenseTime Group's Beneish M-Score falls into.
SenseTime 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 SenseTime 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 * 0.7989 | + | 0.528 * 1.5149 | + | 0.404 * 1.0787 | + | 0.892 * 0.8759 | + | 0.115 * 0.845 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0553 | + | 4.679 * -0.097479 | - | 0.327 * 1.3852 |
| = | -3.08 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was HK$4,288 Mil.
Revenue was HK$3,725 Mil.
Gross Profit was HK$1,642 Mil.
Total Current Assets was HK$18,529 Mil.
Total Assets was HK$35,972 Mil.
Property, Plant and Equipment(Net PPE) was HK$8,661 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,367 Mil.
Selling, General, & Admin. Expense(SGA) was HK$2,548 Mil.
Total Current Liabilities was HK$3,596 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4,839 Mil.
Net Income was HK$-7,044 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-3,538 Mil.
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Total Receivables was HK$6,128 Mil.
Revenue was HK$4,253 Mil.
Gross Profit was HK$2,839 Mil.
Total Current Assets was HK$24,036 Mil.
Total Assets was HK$41,795 Mil.
Property, Plant and Equipment(Net PPE) was HK$8,300 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$1,081 Mil.
Selling, General, & Admin. Expense(SGA) was HK$2,757 Mil.
Total Current Liabilities was HK$3,711 Mil.
Long-Term Debt & Capital Lease Obligation was HK$3,364 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) |
| = | (4288.228 / 3725.238) | / | (6128.276 / 4253.019) |
| = | 1.151129 | / | 1.440924 |
| | = | 0.7989 |
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) |
| = | (2838.987 / 4253.019) | / | (1641.529 / 3725.238) |
| = | 0.667523 | / | 0.440651 |
| | = | 1.5149 |
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 - (18529.133 + 8661.112) / 35972.226) | / | (1 - (24036.367 + 8300.089) / 41795.274) |
| = | 0.244132 | / | 0.226313 |
| | = | 1.0787 |
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 |
| = | 3725.238 | / | 4253.019 |
| | = | 0.8759 |
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)) |
| = | (1080.628 / (1080.628 + 8300.089)) | / | (1367.14 / (1367.14 + 8661.112)) |
| = | 0.115197 | / | 0.136329 |
| | = | 0.845 |
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) |
| = | (2548.052 / 3725.238) | / | (2756.639 / 4253.019) |
| = | 0.683997 | / | 0.648161 |
| | = | 1.0553 |
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) |
| = | ((4838.852 + 3595.588) / 35972.226) | / | ((3363.97 + 3710.847) / 41795.274) |
| = | 0.234471 | / | 0.169273 |
| | = | 1.3852 |
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 |
| = | (-7044.11 - 0 | - | -3537.565) | / | 35972.226 |
| | = | -0.097479 |
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.
SenseTime Group has a M-score of -3.08 suggests that the company is unlikely to be a manipulator.
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