Optima Automobile Group Holdings (HKSE:08418) Beneish M-Score : 0.00 (As of Mar. 02, 2025)

View and export this data going back to 2019. Start your Free Trial

What is Optima Automobile 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.

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

During the past 8 years, the highest Beneish M-Score of Optima Automobile Group Holdings was -0.06. The lowest was -2.75. And the median was -1.58.

Optima Automobile Group Holdings Beneish M-Score Historical Data

The historical data trend for Optima Automobile 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.

Optima Automobile Group Holdings Beneish M-Score Chart

Optima Automobile Group Holdings Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.53

-1.58

-1.25

-2.19

-2.59

Optima Automobile Group Holdings Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Jun24
Beneish M-Score	Get a 7-Day Free Trial															-2.33	-2.75	-2.74	-2.59	-

Competitive Comparison of Optima Automobile Group Holdings's Beneish M-Score

For the Auto Parts subindustry, Optima Automobile 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.

Optima Automobile Group Holdings's Beneish M-Score Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Optima Automobile Group Holdings's Beneish M-Score distribution charts can be found below:

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

Optima Automobile 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 Optima Automobile 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 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

This Year (Jun24) TTM:

Last Year (Mar23) TTM:

Total Receivables was HK$34.4 Mil.
Revenue was 0 + 114.265 + 180.204 + 182.209 = HK$476.7 Mil.
Gross Profit was 0 + 17.641 + 18.548 + 18.974 = HK$55.2 Mil.
Total Current Assets was HK$65.1 Mil.
Total Assets was HK$128.9 Mil.
Property, Plant and Equipment(Net PPE) was HK$63.3 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$15.1 Mil.
Selling, General, & Admin. Expense(SGA) was HK$5.2 Mil.
Total Current Liabilities was HK$64.5 Mil.
Long-Term Debt & Capital Lease Obligation was HK$24.2 Mil.
Net Income was 0 + -4.62 + -0.597 + -1.879 = HK$-7.1 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = HK$0.0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = HK$0.0 Mil.

Total Receivables was HK$0.0 Mil.
Revenue was 133.905 + 112.202 + 110.338 + 129.537 = HK$486.0 Mil.
Gross Profit was 19.029 + 17.549 + 15.478 + 17.298 = HK$69.4 Mil.
Total Current Assets was HK$0.0 Mil.
Total Assets was HK$0.0 Mil.
Property, Plant and Equipment(Net PPE) was HK$0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was HK$20.6 Mil.
Selling, General, & Admin. Expense(SGA) was HK$7.2 Mil.
Total Current Liabilities was HK$0.0 Mil.
Long-Term Debt & Capital Lease Obligation was HK$0.0 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)
	=	(34.355 / 476.678)	/	(0 / 485.982)
	=	0.072072	/	0
	=

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)
	=	(69.354 / 485.982)	/	(55.163 / 476.678)
	=	0.142709	/	0.115724
	=

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 - (65.123 + 63.309) / 128.94)	/	(1 - (0 + 0) / 0)
	=	0.00394	/
	=

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
	=	476.678	/	485.982
	=

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))
	=	(20.638 / (20.638 + 0))	/	(15.052 / (15.052 + 63.309))
	=	1	/	0.192085
	=

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)
	=	(5.166 / 476.678)	/	(7.179 / 485.982)
	=	0.010838	/	0.014772
	=

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)
	=	((24.175 + 64.505) / 128.94)	/	((0 + 0) / 0)
	=	0.687762	/
	=

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
	=	(-7.096 - 0	-	0)	/	128.94
	=	-0.055033

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.

Optima Automobile Group Holdings Beneish M-Score Related Terms

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

Optima Automobile Group Holdings Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » Optima Automobile Group Holdings Ltd (HKSE:08418) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

6 Kung Chong Road, Alexandra Industrial Estate, Singapore, SGP, 159143

Website

https://www.ow.sg

Optima Automobile Group Holdings Ltd is a one-stop after-market automotive service provider in Singapore. The Group is principally engaged in the provision of a comprehensive range of after-market automotive services, with a focus on inspection, maintenance, and repair services; offering short-term and long-term car rental services; supplying passenger car spare parts, accessories, and automotive equipment to customers in Singapore and overseas countries and automobiles to customers in China; The Group operates in four segments which include After-market automotive services, Car rental services, Automotive supply business, and Education business. The majority of revenue is derived from the Automotive supply business.

Executives

Ang Lay Keong (hong Liqiang)	2201 Interest of corporation controlled by you
Lim Fang Fang, Queenie (lin Fangfang, Queenie)	2201 Interest of corporation controlled by you
Lim Li Ling (lin Liling)	2202 Interest of your spouse
Ng Chee Keen	2202 Interest of your spouse
Red Link International Limited	2101 Beneficial owner
Hu Wuan	2101 Beneficial owner
Chee Siew Wee	2101 Beneficial owner
Chong Soo Hoon, Sean	2101 Beneficial owner

Optima Automobile Group Holdings Headlines

No Headlines