Hoya Beneish M-Score Historical Data
The historical data trend for Hoya'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.
Hoya Beneish M-Score Chart
|
Hoya Annual Data
|
|
Trend |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.92 |
-2.48 |
-2.52 |
-2.63 |
-2.60 |
|
Hoya Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.54 |
-2.60 |
-2.42 |
-2.52 |
-2.56 |
Competitive Comparison of Hoya's Beneish M-Score
For the Medical Instruments & Supplies subindustry, Hoya'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.
Hoya's Beneish M-Score Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Hoya's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hoya's Beneish M-Score falls into.
Hoya 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 Hoya 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 * 1.0228 | + | 0.528 * 0.9977 | + | 0.404 * 0.8468 | + | 0.892 * 1.0511 | + | 0.115 * 1.1414 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.089 | + | 4.679 * -0.033426 | - | 0.327 * 0.9821 |
| = | -2.63 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was $1,095 Mil.
Revenue was 1466.84 + 1532.689 + 1386.786 + 1376.818 = $5,763 Mil.
Gross Profit was 1280.44 + 1323.859 + 1183.612 + 1198.242 = $4,986 Mil.
Total Current Assets was $6,006 Mil.
Total Assets was $8,313 Mil.
Property, Plant and Equipment(Net PPE) was $1,397 Mil.
Depreciation, Depletion and Amortization(DDA) was $315 Mil.
Selling, General, & Admin. Expense(SGA) was $140 Mil.
Total Current Liabilities was $1,140 Mil.
Long-Term Debt & Capital Lease Obligation was $175 Mil.
Net Income was 328.194 + 370.28 + 298.733 + 375.701 = $1,373 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 388.182 + 487.332 + 335.196 + 440.072 = $1,651 Mil.
|
Total Receivables was $1,019 Mil.
Revenue was 1393.415 + 1326.579 + 1341.289 + 1421.786 = $5,483 Mil.
Gross Profit was 1213.732 + 1140.979 + 1167.446 + 1210.929 = $4,733 Mil.
Total Current Assets was $5,369 Mil.
Total Assets was $7,647 Mil.
Property, Plant and Equipment(Net PPE) was $1,290 Mil.
Depreciation, Depletion and Amortization(DDA) was $342 Mil.
Selling, General, & Admin. Expense(SGA) was $122 Mil.
Total Current Liabilities was $1,110 Mil.
Long-Term Debt & Capital Lease Obligation was $122 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) |
| = | (1095.321 / 5763.133) | / | (1018.888 / 5483.069) |
| = | 0.190057 | / | 0.185824 |
| | = | 1.0228 |
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) |
| = | (4733.086 / 5483.069) | / | (4986.153 / 5763.133) |
| = | 0.863218 | / | 0.865181 |
| | = | 0.9977 |
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 - (6005.944 + 1397.445) / 8313.187) | / | (1 - (5368.87 + 1289.999) / 7647.156) |
| = | 0.10944 | / | 0.129236 |
| | = | 0.8468 |
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 |
| = | 5763.133 | / | 5483.069 |
| | = | 1.0511 |
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)) |
| = | (342.462 / (342.462 + 1289.999)) | / | (314.674 / (314.674 + 1397.445)) |
| = | 0.209783 | / | 0.183792 |
| | = | 1.1414 |
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) |
| = | (139.868 / 5763.133) | / | (122.193 / 5483.069) |
| = | 0.024269 | / | 0.022286 |
| | = | 1.089 |
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) |
| = | ((175.224 + 1140.219) / 8313.187) | / | ((122.495 + 1109.559) / 7647.156) |
| = | 0.158236 | / | 0.161113 |
| | = | 0.9821 |
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 |
| = | (1372.908 - 0 | - | 1650.782) | / | 8313.187 |
| | = | -0.033426 |
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.
Hoya has a M-score of -2.63 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HOCPY has been successfully added to your