Kinetic Development Group Beneish M-Score Historical Data
The historical data trend for Kinetic Development 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.
Kinetic Development Group Beneish M-Score Chart
|
Kinetic Development Group Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.12 |
-1.54 |
-2.76 |
-1.71 |
-1.65 |
|
Kinetic Development Group Semi-Annual Data
|
|
Jun14 |
Dec14 |
Jun15 |
Dec15 |
Jun16 |
Dec16 |
Jun17 |
Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.76 |
- |
-1.71 |
- |
-1.65 |
Competitive Comparison of Kinetic Development Group's Beneish M-Score
For the Thermal Coal subindustry, Kinetic Development 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.
Kinetic Development Group's Beneish M-Score Distribution in the Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Kinetic Development Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Kinetic Development Group's Beneish M-Score falls into.
Kinetic Development 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 Kinetic Development 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 * 1.9889 | + | 0.528 * 1.1064 | + | 0.404 * 0.8865 | + | 0.892 * 0.755 | + | 0.115 * 1.3643 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4298 | + | 4.679 * 0.033464 | - | 0.327 * 0.9978 |
| = | -1.65 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was HK$239 Mil.
Revenue was HK$5,190 Mil.
Gross Profit was HK$3,066 Mil.
Total Current Assets was HK$2,359 Mil.
Total Assets was HK$11,964 Mil.
Property, Plant and Equipment(Net PPE) was HK$2,839 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$152 Mil.
Selling, General, & Admin. Expense(SGA) was HK$300 Mil.
Total Current Liabilities was HK$2,813 Mil.
Long-Term Debt & Capital Lease Obligation was HK$303 Mil.
Net Income was HK$2,273 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$1,872 Mil.
|
Total Receivables was HK$159 Mil.
Revenue was HK$6,874 Mil.
Gross Profit was HK$4,493 Mil.
Total Current Assets was HK$1,800 Mil.
Total Assets was HK$10,601 Mil.
Property, Plant and Equipment(Net PPE) was HK$2,039 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$152 Mil.
Selling, General, & Admin. Expense(SGA) was HK$278 Mil.
Total Current Liabilities was HK$2,027 Mil.
Long-Term Debt & Capital Lease Obligation was HK$740 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) |
| = | (238.595 / 5190.056) | / | (158.89 / 6874.306) |
| = | 0.045972 | / | 0.023114 |
| | = | 1.9889 |
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) |
| = | (4493.055 / 6874.306) | / | (3065.904 / 5190.056) |
| = | 0.653601 | / | 0.590727 |
| | = | 1.1064 |
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 - (2359.486 + 2839.455) / 11963.659) | / | (1 - (1800.378 + 2038.854) / 10600.572) |
| = | 0.565439 | / | 0.637828 |
| | = | 0.8865 |
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 |
| = | 5190.056 | / | 6874.306 |
| | = | 0.755 |
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)) |
| = | (152.174 / (152.174 + 2038.854)) | / | (152.302 / (152.302 + 2839.455)) |
| = | 0.069453 | / | 0.050907 |
| | = | 1.3643 |
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) |
| = | (299.787 / 5190.056) | / | (277.706 / 6874.306) |
| = | 0.057762 | / | 0.040398 |
| | = | 1.4298 |
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) |
| = | ((302.746 + 2813.282) / 11963.659) | / | ((739.87 + 2027.301) / 10600.572) |
| = | 0.260458 | / | 0.26104 |
| | = | 0.9978 |
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 |
| = | (2272.688 - 0 | - | 1872.337) | / | 11963.659 |
| | = | 0.033464 |
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.
Kinetic Development Group has a M-score of -1.65 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HKSE:01277 has been successfully added to your