Robosense Technology Co Beneish M-Score Historical Data
The historical data trend for Robosense Technology 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.
Robosense Technology Co Beneish M-Score Chart
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Robosense Technology Co Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-9.58 |
-7.63 |
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Robosense Technology Co Semi-Annual Data
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Dec20 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
Jun24 |
| Beneish M-Score |
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- |
-9.58 |
- |
-7.63 |
- |
Competitive Comparison of Robosense Technology Co's Beneish M-Score
For the Computer Hardware subindustry, Robosense Technology 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.
Robosense Technology Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Robosense Technology Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Robosense Technology Co's Beneish M-Score falls into.
Robosense Technology 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 Robosense Technology 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 * 1.5288 | + | 0.528 * -0.8864 | + | 0.404 * 1.0475 | + | 0.892 * 2.0688 | + | 0.115 * 0.7723 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7997 | + | 4.679 * -1.167723 | - | 0.327 * 1.4941 |
| = | -7.63 |
* 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$746 Mil.
Revenue was HK$1,225 Mil.
Gross Profit was HK$102 Mil.
Total Current Assets was HK$3,092 Mil.
Total Assets was HK$3,578 Mil.
Property, Plant and Equipment(Net PPE) was HK$309 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$97 Mil.
Selling, General, & Admin. Expense(SGA) was HK$472 Mil.
Total Current Liabilities was HK$11,865 Mil.
Long-Term Debt & Capital Lease Obligation was HK$1 Mil.
Net Income was HK$-4,743 Mil.
Gross Profit was HK$0 Mil.
Cash Flow from Operations was HK$-565 Mil.
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Total Receivables was HK$236 Mil.
Revenue was HK$592 Mil.
Gross Profit was HK$-44 Mil.
Total Current Assets was HK$3,383 Mil.
Total Assets was HK$3,827 Mil.
Property, Plant and Equipment(Net PPE) was HK$263 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$60 Mil.
Selling, General, & Admin. Expense(SGA) was HK$286 Mil.
Total Current Liabilities was HK$8,480 Mil.
Long-Term Debt & Capital Lease Obligation was HK$15 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) |
| = | (745.553 / 1225.195) | / | (235.721 / 592.218) |
| = | 0.608518 | / | 0.398031 |
| | = | 1.5288 |
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) |
| = | (-43.881 / 592.218) | / | (102.421 / 1225.195) |
| = | -0.074096 | / | 0.083596 |
| | = | -0.8864 |
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 - (3091.773 + 308.791) / 3578.246) | / | (1 - (3382.934 + 263.1) / 3827.466) |
| = | 0.049656 | / | 0.047403 |
| | = | 1.0475 |
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 |
| = | 1225.195 | / | 592.218 |
| | = | 2.0688 |
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)) |
| = | (59.772 / (59.772 + 263.1)) | / | (97.351 / (97.351 + 308.791)) |
| = | 0.185126 | / | 0.239697 |
| | = | 0.7723 |
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) |
| = | (472.461 / 1225.195) | / | (285.581 / 592.218) |
| = | 0.385621 | / | 0.482223 |
| | = | 0.7997 |
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) |
| = | ((1.268 + 11864.785) / 3578.246) | / | ((14.686 + 8480.438) / 3827.466) |
| = | 3.316165 | / | 2.219517 |
| | = | 1.4941 |
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 |
| = | (-4743.313 - 0 | - | -564.912) | / | 3578.246 |
| | = | -1.167723 |
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.
Robosense Technology Co has a M-score of -7.63 suggests that the company is unlikely to be a manipulator.
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