Lenovo Group Beneish M-Score Historical Data
The historical data trend for Lenovo 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.
Lenovo Group Beneish M-Score Chart
|
Lenovo Group Annual Data
|
|
Trend |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.89 |
-2.45 |
-2.55 |
-2.88 |
-2.56 |
|
Lenovo Group Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.50 |
-2.56 |
-2.52 |
-2.52 |
-2.51 |
Competitive Comparison of Lenovo Group's Beneish M-Score
For the Computer Hardware subindustry, Lenovo 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.
Lenovo Group's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Lenovo Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lenovo Group's Beneish M-Score falls into.
Lenovo 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 Lenovo 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 * 0.9517 | + | 0.528 * 1.0492 | + | 0.404 * 0.8911 | + | 0.892 * 1.1795 | + | 0.115 * 0.9159 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9582 | + | 4.679 * -0.025246 | - | 0.327 * 1.0341 |
| = | -2.51 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was HK$102,463 Mil.
Revenue was 146111.003 + 139070.082 + 120641.507 + 108216.474 = HK$514,039 Mil.
Gross Profit was 23004.53 + 21781.688 + 19992.421 + 18995.238 = HK$83,774 Mil.
Total Current Assets was HK$222,121 Mil.
Total Assets was HK$347,645 Mil.
Property, Plant and Equipment(Net PPE) was HK$21,411 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$11,280 Mil.
Selling, General, & Admin. Expense(SGA) was HK$48,971 Mil.
Total Current Liabilities was HK$255,777 Mil.
Long-Term Debt & Capital Lease Obligation was HK$22,031 Mil.
Net Income was 5384.401 + 2793.323 + 1900.681 + 1937.945 = HK$12,016 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = HK$0 Mil.
Cash Flow from Operations was 2674.936 + 7687.333 + 6180.772 + 4250.001 = HK$20,793 Mil.
|
Total Receivables was HK$91,271 Mil.
Revenue was 122777.507 + 112807.01 + 101045.128 + 99169.054 = HK$435,799 Mil.
Gross Profit was 20316.343 + 19741.598 + 17639.172 + 16822.684 = HK$74,520 Mil.
Total Current Assets was HK$181,405 Mil.
Total Assets was HK$308,521 Mil.
Property, Plant and Equipment(Net PPE) was HK$23,424 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$10,824 Mil.
Selling, General, & Admin. Expense(SGA) was HK$43,328 Mil.
Total Current Liabilities was HK$208,527 Mil.
Long-Term Debt & Capital Lease Obligation was HK$29,886 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) |
| = | (102462.546 / 514039.066) | / | (91270.993 / 435798.699) |
| = | 0.199328 | / | 0.209434 |
| | = | 0.9517 |
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) |
| = | (74519.797 / 435798.699) | / | (83773.877 / 514039.066) |
| = | 0.170996 | / | 0.162972 |
| | = | 1.0492 |
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 - (222121.088 + 21410.517) / 347644.669) | / | (1 - (181404.722 + 23424.206) / 308520.971) |
| = | 0.299481 | / | 0.336094 |
| | = | 0.8911 |
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 |
| = | 514039.066 | / | 435798.699 |
| | = | 1.1795 |
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)) |
| = | (10824.418 / (10824.418 + 23424.206)) | / | (11280.277 / (11280.277 + 21410.517)) |
| = | 0.316054 | / | 0.34506 |
| | = | 0.9159 |
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) |
| = | (48971.073 / 514039.066) | / | (43327.682 / 435798.699) |
| = | 0.095267 | / | 0.099421 |
| | = | 0.9582 |
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) |
| = | ((22031.223 + 255776.739) / 347644.669) | / | ((29886.004 + 208526.838) / 308520.971) |
| = | 0.799115 | / | 0.772761 |
| | = | 1.0341 |
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 |
| = | (12016.35 - 0 | - | 20793.042) | / | 347644.669 |
| | = | -0.025246 |
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.
Lenovo Group has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:00992 has been successfully added to your