YNBY International Beneish M-Score Historical Data
The historical data trend for YNBY International'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.
YNBY International Beneish M-Score Chart
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YNBY International Annual Data
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Mar13 |
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Mar19 |
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Mar22 |
| Beneish M-Score |
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2.64 |
-0.54 |
-2.22 |
-0.84 |
-21.11 |
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YNBY International Semi-Annual Data
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| Beneish M-Score |
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-21.11 |
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-10.07 |
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Competitive Comparison of YNBY International's Beneish M-Score
For the Capital Markets subindustry, YNBY International'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.
YNBY International's Beneish M-Score Distribution in the Capital Markets Industry
For the Capital Markets industry and Financial Services sector, YNBY International's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where YNBY International's Beneish M-Score falls into.
YNBY International 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 YNBY International 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 * 0.5773 | + | 0.528 * 3.2712 | + | 0.404 * -0.0018 | + | 0.892 * 0.1476 | + | 0.115 * 0.7502 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 7.3019 | + | 4.679 * -3.458659 | - | 0.327 * 4.0008 |
| = | -21.11 |
* 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 (Mar22) TTM: | Last Year (Mar21) TTM: |
Total Receivables was HK$98.4 Mil.
Revenue was HK$179.5 Mil.
Gross Profit was HK$4.3 Mil.
Total Current Assets was HK$312.0 Mil.
Total Assets was HK$321.8 Mil.
Property, Plant and Equipment(Net PPE) was HK$9.7 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$9.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$52.0 Mil.
Total Current Liabilities was HK$115.2 Mil.
Long-Term Debt & Capital Lease Obligation was HK$3.4 Mil.
Net Income was HK$-1,117.3 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$-4.5 Mil.
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Total Receivables was HK$1,155.1 Mil.
Revenue was HK$1,216.7 Mil.
Gross Profit was HK$96.4 Mil.
Total Current Assets was HK$1,422.7 Mil.
Total Assets was HK$1,442.6 Mil.
Property, Plant and Equipment(Net PPE) was HK$17.4 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$10.5 Mil.
Selling, General, & Admin. Expense(SGA) was HK$48.2 Mil.
Total Current Liabilities was HK$112.1 Mil.
Long-Term Debt & Capital Lease Obligation was HK$20.8 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) |
| = | (98.399 / 179.528) | / | (1155.119 / 1216.714) |
| = | 0.548098 | / | 0.949376 |
| | = | 0.5773 |
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) |
| = | (96.395 / 1216.714) | / | (4.348 / 179.528) |
| = | 0.079226 | / | 0.024219 |
| | = | 3.2712 |
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 - (312.039 + 9.715) / 321.753) | / | (1 - (1422.7 + 17.434) / 1442.604) |
| = | -3.0E-6 | / | 0.001712 |
| | = | -0.0018 |
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 |
| = | 179.528 | / | 1216.714 |
| | = | 0.1476 |
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)) |
| = | (10.47 / (10.47 + 17.434)) | / | (9.722 / (9.722 + 9.715)) |
| = | 0.375215 | / | 0.50018 |
| | = | 0.7502 |
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) |
| = | (51.982 / 179.528) | / | (48.247 / 1216.714) |
| = | 0.289548 | / | 0.039654 |
| | = | 7.3019 |
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) |
| = | ((3.391 + 115.186) / 321.753) | / | ((20.787 + 112.099) / 1442.604) |
| = | 0.368534 | / | 0.092115 |
| | = | 4.0008 |
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 |
| = | (-1117.314 - 0 | - | -4.48) | / | 321.753 |
| | = | -3.458659 |
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.
YNBY International has a M-score of -21.11 suggests that the company is unlikely to be a manipulator.
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