Yun Lee Marine Group Holdings (HKSE:02682) Beneish M-Score : -1.02 (As of Mar. 24, 2025)

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What is Yun Lee Marine 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.

Warning Sign:

Beneish M-Score -1.02 higher than -1.78, which implies that the company might have manipulated its financial results.

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

HKSE:02682' s Beneish M-Score Range Over the Past 10 Years
Min: -4.47 Med: -1.99 Max: -1.02
Current: -1.02

During the past 9 years, the highest Beneish M-Score of Yun Lee Marine Group Holdings was -1.02. The lowest was -4.47. And the median was -1.99.

Yun Lee Marine Group Holdings Beneish M-Score Historical Data

The historical data trend for Yun Lee Marine 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.

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Yun Lee Marine Group Holdings Beneish M-Score Chart

Yun Lee Marine Group Holdings Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Beneish M-Score

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-2.26

-1.99

-1.63

-4.47

-1.02

Yun Lee Marine Group Holdings Semi-Annual Data
	Mar16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24
Beneish M-Score	Get a 7-Day Free Trial												-	-4.47	-	-1.02	-

Competitive Comparison of Yun Lee Marine Group Holdings's Beneish M-Score

For the Marine Shipping subindustry, Yun Lee Marine 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.

Yun Lee Marine Group Holdings's Beneish M-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Yun Lee Marine Group Holdings's Beneish M-Score distribution charts can be found below:

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

Yun Lee Marine 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 Yun Lee Marine 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 * 1.7993

0.528 * 1.3332

0.404 * 2.3646

0.892 * 1.3949

0.115 * 0.5766

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1317

4.679 * 0.047358

0.327 * 2.5459

-1.02

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was HK$113.7 Mil.
Revenue was HK$334.6 Mil.
Gross Profit was HK$89.4 Mil.
Total Current Assets was HK$259.8 Mil.
Total Assets was HK$442.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$138.2 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$19.9 Mil.
Selling, General, & Admin. Expense(SGA) was HK$68.4 Mil.
Total Current Liabilities was HK$131.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$6.7 Mil.
Net Income was HK$31.6 Mil.
Gross Profit was HK$0.0 Mil.
Cash Flow from Operations was HK$10.6 Mil.

Total Receivables was HK$45.3 Mil.
Revenue was HK$239.9 Mil.
Gross Profit was HK$85.5 Mil.
Total Current Assets was HK$196.6 Mil.
Total Assets was HK$340.1 Mil.
Property, Plant and Equipment(Net PPE) was HK$128.9 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$10.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$43.3 Mil.
Total Current Liabilities was HK$38.6 Mil.
Long-Term Debt & Capital Lease Obligation was HK$3.1 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)
	=	(113.686 / 334.604)	/	(45.297 / 239.876)
	=	0.339763	/	0.188835
	=	1.7993

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)
	=	(85.452 / 239.876)	/	(89.41 / 334.604)
	=	0.356234	/	0.267211
	=	1.3332

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 - (259.827 + 138.225) / 442.882)	/	(1 - (196.555 + 128.94) / 340.052)
	=	0.101223	/	0.042808
	=	2.3646

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
	=	334.604	/	239.876
	=	1.3949

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))
	=	(10.11 / (10.11 + 128.94))	/	(19.945 / (19.945 + 138.225))
	=	0.072708	/	0.126099
	=	0.5766

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)
	=	(68.413 / 334.604)	/	(43.338 / 239.876)
	=	0.20446	/	0.180668
	=	1.1317

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)
	=	((6.703 + 131.522) / 442.882)	/	((3.117 + 38.57) / 340.052)
	=	0.312103	/	0.12259
	=	2.5459

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
	=	(31.584 - 0	-	10.61)	/	442.882
	=	0.047358

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.

Yun Lee Marine Group Holdings has a M-score of -1.02 signals that the company is likely to be a manipulator.

Yun Lee Marine Group Holdings Beneish M-Score Related Terms

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Yun Lee Marine Group Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Yun Lee Marine Group Holdings Ltd (HKSE:02682) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

10 Cheung Yue Street, Flat D, 31st Floor, Billion Plaza II, Kowloon, Cheung Sha Wan, Hong Kong, HKG

Website

https://www.yunlee.com.hk

Yun Lee Marine Group Holdings Ltd is a maritime services provider. The company's operating segment includes Vessel chartering and related services, Marine construction services and Ship management services. It generates maximum revenue from the Vessel chartering and related services segment. Vessel chartering and related services segment provide vessel chartering services mainly to contractors for construction projects in Hong Kong, including time chartering representing the hiring of vessel and crew for a specific period of time and voyage chartering representing the hiring of vessel and crew for a specific voyage between two designated locations. The Company provides ship management services for the provision of crew members for daily operation and the repair and maintenance services.

Executives

Chan Sau Ling Amy	2202 Interest of your spouse
Kitling Investments (bvi) Limited	2101 Beneficial owner
Wen Tsz Kit Bondy	2201 Interest of corporation controlled by you
Novel Choice Ventures Limited	2101 Beneficial owner
Tang Yiu Chi James	2201 Interest of corporation controlled by you

Yun Lee Marine Group Holdings Headlines

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