CSSC Offshore & Marine Engineering (Group) Co Beneish M-Score Historical Data
The historical data trend for CSSC Offshore & Marine Engineering (Group) Co'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.
CSSC Offshore & Marine Engineering (Group) Co Beneish M-Score Chart
|
CSSC Offshore & Marine Engineering (Group) Co Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.35 |
-1.24 |
-3.02 |
-2.46 |
-2.50 |
|
CSSC Offshore & Marine Engineering (Group) Co Quarterly Data
|
|
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.35 |
-2.50 |
-2.25 |
-2.48 |
-2.20 |
Competitive Comparison of CSSC Offshore & Marine Engineering (Group) Co's Beneish M-Score
For the Aerospace & Defense subindustry, CSSC Offshore & Marine Engineering (Group) Co'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.
CSSC Offshore & Marine Engineering (Group) Co's Beneish M-Score Distribution in the Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, CSSC Offshore & Marine Engineering (Group) Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where CSSC Offshore & Marine Engineering (Group) Co's Beneish M-Score falls into.
CSSC Offshore & Marine Engineering (Group) Co 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 CSSC Offshore & Marine Engineering (Group) Co 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 * 0.9234 | + | 0.528 * 0.8147 | + | 0.404 * 1.0641 | + | 0.892 * 1.233 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9902 | + | 4.679 * 0.039618 | - | 0.327 * 0.9147 |
| = | -2.20 |
* 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 HK$6,194 Mil.
Revenue was 4358.445 + 6374.932 + 3049.106 + 6971.31 = HK$20,754 Mil.
Gross Profit was 499.852 + 421.852 + 279.027 + 489.351 = HK$1,690 Mil.
Total Current Assets was HK$32,112 Mil.
Total Assets was HK$56,881 Mil.
Property, Plant and Equipment(Net PPE) was HK$5,651 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$254 Mil.
Total Current Liabilities was HK$25,666 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4,605 Mil.
Net Income was 44.5 + 141.535 + 16.701 + 26.106 = HK$229 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = HK$0 Mil.
Cash Flow from Operations was 726.028 + -2319.418 + -3696.881 + 3265.627 = HK$-2,025 Mil.
|
Total Receivables was HK$5,440 Mil.
Revenue was 4065.572 + 4466.42 + 2162.795 + 6137.149 = HK$16,832 Mil.
Gross Profit was 303.457 + 267.107 + 108.981 + 437.142 = HK$1,117 Mil.
Total Current Assets was HK$30,349 Mil.
Total Assets was HK$52,995 Mil.
Property, Plant and Equipment(Net PPE) was HK$5,908 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$208 Mil.
Total Current Liabilities was HK$26,732 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4,101 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) |
| = | (6194.183 / 20753.793) | / | (5440.277 / 16831.936) |
| = | 0.29846 | / | 0.323212 |
| | = | 0.9234 |
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) |
| = | (1116.687 / 16831.936) | / | (1690.082 / 20753.793) |
| = | 0.066343 | / | 0.081435 |
| | = | 0.8147 |
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 - (32112.27 + 5651.174) / 56880.806) | / | (1 - (30348.524 + 5907.783) / 52995.39) |
| = | 0.336095 | / | 0.315859 |
| | = | 1.0641 |
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 |
| = | 20753.793 | / | 16831.936 |
| | = | 1.233 |
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 + 5907.783)) | / | (0 / (0 + 5651.174)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (253.657 / 20753.793) | / | (207.759 / 16831.936) |
| = | 0.012222 | / | 0.012343 |
| | = | 0.9902 |
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) |
| = | ((4604.565 + 25666.454) / 56880.806) | / | ((4100.987 + 26731.55) / 52995.39) |
| = | 0.532183 | / | 0.581797 |
| | = | 0.9147 |
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 |
| = | (228.842 - 0 | - | -2024.644) | / | 56880.806 |
| | = | 0.039618 |
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.
CSSC Offshore & Marine Engineering (Group) Co has a M-score of -2.20 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:00317 has been successfully added to your