Boill Healthcare Holdings Beneish M-Score Historical Data
The historical data trend for Boill Healthcare 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.
Boill Healthcare Holdings Beneish M-Score Chart
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Boill Healthcare Holdings Annual Data
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Mar14 |
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Mar20 |
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Mar23 |
| Beneish M-Score |
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0.14 |
-3.36 |
-2.55 |
24.80 |
196.56 |
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Boill Healthcare Holdings Semi-Annual Data
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Sep23 |
| Beneish M-Score |
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24.80 |
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196.56 |
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Competitive Comparison of Boill Healthcare Holdings's Beneish M-Score
For the Real Estate - Development subindustry, Boill Healthcare 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.
Boill Healthcare Holdings's Beneish M-Score Distribution in the Real Estate Industry
For the Real Estate industry and Real Estate sector, Boill Healthcare Holdings's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Boill Healthcare Holdings's Beneish M-Score falls into.
Boill Healthcare 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 Boill Healthcare 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 * 22.0484 | + | 0.528 * 344.943 | + | 0.404 * 0.6921 | + | 0.892 * 0.3467 | + | 0.115 * 0.0373 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.7168 | + | 4.679 * -0.205454 | - | 0.327 * 1.0735 |
| = | 196.56 |
* 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 (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was HK$605.6 Mil.
Revenue was HK$348.3 Mil.
Gross Profit was HK$0.1 Mil.
Total Current Assets was HK$1,644.0 Mil.
Total Assets was HK$2,416.2 Mil.
Property, Plant and Equipment(Net PPE) was HK$5.3 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.9 Mil.
Selling, General, & Admin. Expense(SGA) was HK$16.4 Mil.
Total Current Liabilities was HK$1,599.7 Mil.
Long-Term Debt & Capital Lease Obligation was HK$805.3 Mil.
Net Income was HK$-428.3 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$68.2 Mil.
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Total Receivables was HK$79.2 Mil.
Revenue was HK$1,004.6 Mil.
Gross Profit was HK$109.5 Mil.
Total Current Assets was HK$1,425.7 Mil.
Total Assets was HK$3,494.8 Mil.
Property, Plant and Equipment(Net PPE) was HK$466.2 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$2.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$27.5 Mil.
Total Current Liabilities was HK$2,482.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$758.0 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) |
| = | (605.567 / 348.271) | / | (79.224 / 1004.596) |
| = | 1.738781 | / | 0.078862 |
| | = | 22.0484 |
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) |
| = | (109.503 / 1004.596) | / | (0.11 / 348.271) |
| = | 0.109002 | / | 0.000316 |
| | = | 344.943 |
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 - (1643.957 + 5.282) / 2416.217) | / | (1 - (1425.744 + 466.215) / 3494.752) |
| = | 0.317429 | / | 0.458629 |
| | = | 0.6921 |
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 |
| = | 348.271 | / | 1004.596 |
| | = | 0.3467 |
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)) |
| = | (2.667 / (2.667 + 466.215)) | / | (0.949 / (0.949 + 5.282)) |
| = | 0.005688 | / | 0.152303 |
| | = | 0.0373 |
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) |
| = | (16.374 / 348.271) | / | (27.512 / 1004.596) |
| = | 0.047015 | / | 0.027386 |
| | = | 1.7168 |
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) |
| = | ((805.258 + 1599.745) / 2416.217) | / | ((757.984 + 2482.471) / 3494.752) |
| = | 0.995359 | / | 0.927235 |
| | = | 1.0735 |
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 |
| = | (-428.255 - 0 | - | 68.167) | / | 2416.217 |
| | = | -0.205454 |
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.
Boill Healthcare Holdings has a M-score of 196.56 signals that the company is likely to be a manipulator.
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