Sitoy Group Holdings Beneish M-Score Historical Data
The historical data trend for Sitoy Group Holdings'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.
Sitoy Group Holdings Beneish M-Score Chart
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Sitoy Group Holdings Annual Data
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Jun15 |
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Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
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-3.56 |
-3.05 |
-1.69 |
-2.59 |
-3.09 |
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Sitoy Group Holdings Semi-Annual Data
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Jun15 |
Dec15 |
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Dec24 |
| Beneish M-Score |
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-2.59 |
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-3.09 |
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Competitive Comparison of Sitoy Group Holdings's Beneish M-Score
For the Footwear & Accessories subindustry, Sitoy Group Holdings'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.
Sitoy Group Holdings's Beneish M-Score Distribution in the Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Sitoy Group Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sitoy Group Holdings's Beneish M-Score falls into.
Sitoy Group Holdings 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 Sitoy Group Holdings 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 * 0.8136 | + | 0.528 * 0.9303 | + | 0.404 * 0.9959 | + | 0.892 * 0.8789 | + | 0.115 * 1.1625 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.302 | + | 4.679 * -0.064344 | - | 0.327 * 0.8686 |
| = | -3.09 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was HK$317 Mil.
Revenue was HK$1,606 Mil.
Gross Profit was HK$572 Mil.
Total Current Assets was HK$1,054 Mil.
Total Assets was HK$2,114 Mil.
Property, Plant and Equipment(Net PPE) was HK$348 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$55 Mil.
Selling, General, & Admin. Expense(SGA) was HK$445 Mil.
Total Current Liabilities was HK$284 Mil.
Long-Term Debt & Capital Lease Obligation was HK$19 Mil.
Net Income was HK$102 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$238 Mil.
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Total Receivables was HK$443 Mil.
Revenue was HK$1,828 Mil.
Gross Profit was HK$606 Mil.
Total Current Assets was HK$1,088 Mil.
Total Assets was HK$2,139 Mil.
Property, Plant and Equipment(Net PPE) was HK$327 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$62 Mil.
Selling, General, & Admin. Expense(SGA) was HK$389 Mil.
Total Current Liabilities was HK$329 Mil.
Long-Term Debt & Capital Lease Obligation was HK$24 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) |
| = | (316.689 / 1606.481) | / | (442.882 / 1827.792) |
| = | 0.197132 | / | 0.242304 |
| | = | 0.8136 |
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) |
| = | (605.716 / 1827.792) | / | (572.275 / 1606.481) |
| = | 0.331392 | / | 0.356229 |
| | = | 0.9303 |
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 - (1053.992 + 347.598) / 2114.136) | / | (1 - (1087.655 + 327.281) / 2138.739) |
| = | 0.337039 | / | 0.338425 |
| | = | 0.9959 |
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 |
| = | 1606.481 | / | 1827.792 |
| | = | 0.8789 |
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)) |
| = | (62.183 / (62.183 + 327.281)) | / | (55.342 / (55.342 + 347.598)) |
| = | 0.159663 | / | 0.137346 |
| | = | 1.1625 |
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) |
| = | (444.853 / 1606.481) | / | (388.725 / 1827.792) |
| = | 0.276911 | / | 0.212675 |
| | = | 1.302 |
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) |
| = | ((18.543 + 284.306) / 2114.136) | / | ((24.057 + 328.663) / 2138.739) |
| = | 0.14325 | / | 0.16492 |
| | = | 0.8686 |
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 |
| = | (101.888 - 0 | - | 237.92) | / | 2114.136 |
| | = | -0.064344 |
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.
Sitoy Group Holdings has a M-score of -3.09 suggests that the company is unlikely to be a manipulator.
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