Plus Group Holdings (HKSE:02486) Beneish M-Score : -1.88 (As of May. 16, 2024)

View and export this data going back to 2023. Start your Free Trial

What is Plus Group Holdings Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -1.88 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Plus Group Holdings's Beneish M-Score or its related term are showing as below:

HKSE:02486' s Beneish M-Score Range Over the Past 10 Years
Min: -2.71 Med: -2.3 Max: -1.88
Current: -1.88

During the past 4 years, the highest Beneish M-Score of Plus Group Holdings was -1.88. The lowest was -2.71. And the median was -2.30.

Plus Group Holdings Beneish M-Score Historical Data

The historical data trend for Plus 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.

* Premium members only.

Plus Group Holdings Beneish M-Score Chart

Plus Group Holdings Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-2.71

-1.88

Plus Group Holdings Semi-Annual Data
	Dec20	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial			-	-	-2.71	-	-1.88

Competitive Comparison of Plus Group Holdings's Beneish M-Score

For the Advertising Agencies subindustry, Plus 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.

Plus Group Holdings's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Plus Group Holdings's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Plus Group Holdings's Beneish M-Score falls into.

Plus 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 Plus Group Holdings for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.701

0.528 * 2.1489

0.404 * 0.9879

0.892 * 1.1503

0.115 * 0.9633

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.9963

4.679 * 0.002317

0.327 * 0.6084

-1.88

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was HK$482.2 Mil.
Revenue was HK$794.0 Mil.
Gross Profit was HK$103.8 Mil.
Total Current Assets was HK$755.8 Mil.
Total Assets was HK$763.8 Mil.
Property, Plant and Equipment(Net PPE) was HK$1.8 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$3.4 Mil.
Selling, General, & Admin. Expense(SGA) was HK$124.4 Mil.
Total Current Liabilities was HK$207.9 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 Mil.
Net Income was HK$12.6 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$10.8 Mil.

Total Receivables was HK$598.0 Mil.
Revenue was HK$690.3 Mil.
Gross Profit was HK$193.8 Mil.
Total Current Assets was HK$690.7 Mil.
Total Assets was HK$700.3 Mil.
Property, Plant and Equipment(Net PPE) was HK$3.9 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$6.7 Mil.
Selling, General, & Admin. Expense(SGA) was HK$108.5 Mil.
Total Current Liabilities was HK$313.3 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.1 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)
	=	(482.2 / 794.027)	/	(598.007 / 690.253)
	=	0.607284	/	0.866359
	=	0.701

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)
	=	(193.825 / 690.253)	/	(103.758 / 794.027)
	=	0.280803	/	0.130673
	=	2.1489

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 - (755.783 + 1.796) / 763.776)	/	(1 - (690.668 + 3.901) / 700.321)
	=	0.008114	/	0.008213
	=	0.9879

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
	=	794.027	/	690.253
	=	1.1503

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))
	=	(6.705 / (6.705 + 3.901))	/	(3.429 / (3.429 + 1.796))
	=	0.632189	/	0.656268
	=	0.9633

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)
	=	(124.379 / 794.027)	/	(108.525 / 690.253)
	=	0.156643	/	0.157225
	=	0.9963

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)
	=	((0.005 + 207.932) / 763.776)	/	((0.061 + 313.324) / 700.321)
	=	0.272249	/	0.447488
	=	0.6084

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
	=	(12.581 - 0	-	10.811)	/	763.776
	=	0.002317

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.

Plus Group Holdings has a M-score of -1.88 suggests that the company is unlikely to be a manipulator.

Plus Group Holdings Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Plus Group Holdings's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Plus Group Holdings (HKSE:02486) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Plus Group Holdings Inc (HKSE:02486) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 652 Changshou Road, 2nd Floor–3rd Floor, Building 6, Putuo, Shanghai, CHN

Website

https://www.plscn.com

Plus Group Holdings Inc is an established digitalized sales and marketing service provider, primarily focusing on market-leading FMCG brand owners. Its services aim at digitalizing and systemizing offline commerce. The company offers four types of services, including (i) on-site solution; (ii) field force assignment; (iii) matching service; and (iv) SaaS+ subscription. Its service network has extensive coverage in terms of the scale of customers, geographical locations and types of tasks. The majority of revenue is derived from the On-site solution services. The on-site solution offers solution services for customized sales and marketing activities with the set up of offline venues and event materials.

Plus Group Holdings (HKSE:02486) Headlines

No Headlines