BaTeLab Co Beneish M-Score Historical Data
The historical data trend for BaTeLab 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.
BaTeLab Co Beneish M-Score Chart
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BaTeLab Co Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
- |
- |
-1.71 |
-2.25 |
75.70 |
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BaTeLab Co Semi-Annual Data
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|
Dec20 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
Jun24 |
Dec24 |
| Beneish M-Score |
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-1.71 |
- |
-2.25 |
- |
75.70 |
Competitive Comparison of BaTeLab Co's Beneish M-Score
For the Semiconductor Equipment & Materials subindustry, BaTeLab 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.
BaTeLab Co's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, BaTeLab Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BaTeLab Co's Beneish M-Score falls into.
BaTeLab 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 BaTeLab 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 * 0.5967 | + | 0.528 * 1.0453 | + | 0.404 * 193.8571 | + | 0.892 * 1.218 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9478 | + | 4.679 * 0.095126 | - | 0.327 * 1.1047 |
| = | 75.70 |
* 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$55.0 Mil.
Revenue was HK$618.0 Mil.
Gross Profit was HK$327.7 Mil.
Total Current Assets was HK$1,549.2 Mil.
Total Assets was HK$1,717.7 Mil.
Property, Plant and Equipment(Net PPE) was HK$70.6 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$0.0 Mil.
Selling, General, & Admin. Expense(SGA) was HK$41.2 Mil.
Total Current Liabilities was HK$642.6 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1.1 Mil.
Net Income was HK$177.9 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$14.5 Mil.
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Total Receivables was HK$75.7 Mil.
Revenue was HK$507.4 Mil.
Gross Profit was HK$281.2 Mil.
Total Current Assets was HK$1,275.7 Mil.
Total Assets was HK$1,390.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$114.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$6.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$35.7 Mil.
Total Current Liabilities was HK$466.7 Mil.
Long-Term Debt & Capital Lease Obligation was HK$4.9 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) |
| = | (54.988 / 617.976) | / | (75.656 / 507.383) |
| = | 0.088981 | / | 0.14911 |
| | = | 0.5967 |
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) |
| = | (281.223 / 507.383) | / | (327.687 / 617.976) |
| = | 0.554262 | / | 0.530258 |
| | = | 1.0453 |
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 - (1549.163 + 70.623) / 1717.684) | / | (1 - (1275.695 + 114.009) / 1390.113) |
| = | 0.056994 | / | 0.000294 |
| | = | 193.8571 |
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 |
| = | 617.976 | / | 507.383 |
| | = | 1.218 |
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)) |
| = | (6.115 / (6.115 + 114.009)) | / | (0 / (0 + 70.623)) |
| = | 0.050906 | / | 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) |
| = | (41.197 / 617.976) | / | (35.689 / 507.383) |
| = | 0.066664 | / | 0.070339 |
| | = | 0.9478 |
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) |
| = | ((1.133 + 642.553) / 1717.684) | / | ((4.873 + 466.695) / 1390.113) |
| = | 0.374741 | / | 0.33923 |
| | = | 1.1047 |
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 |
| = | (177.875 - 0 | - | 14.479) | / | 1717.684 |
| | = | 0.095126 |
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.
BaTeLab Co has a M-score of 75.70 signals that the company is likely to be a manipulator.
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