Ton Dong A Beneish M-Score Historical Data
The historical data trend for Ton Dong A'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.
Ton Dong A Beneish M-Score Chart
|
Ton Dong A Annual Data
|
|
Trend |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
- |
- |
-2.66 |
|
Ton Dong A Quarterly Data
|
|
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
Mar25 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
- |
- |
-2.54 |
-2.66 |
-2.18 |
Competitive Comparison of Ton Dong A's Beneish M-Score
For the Steel subindustry, Ton Dong A'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.
Ton Dong A's Beneish M-Score Distribution in the Steel Industry
For the Steel industry and Basic Materials sector, Ton Dong A's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Ton Dong A's Beneish M-Score falls into.
Ton Dong A 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 Ton Dong A 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 * 0.9659 | + | 0.528 * 0.9225 | + | 0.404 * 0.9935 | + | 0.892 * 1.0807 | + | 0.115 * 0.9668 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1227 | + | 4.679 * 0.066371 | - | 0.327 * 0.9572 |
| = | -2.18 |
* 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 (Mar25) TTM: | Last Year (Mar24) TTM: |
Total Receivables was ₫1,441,201 Mil.
Revenue was 3976592.232 + 3888073.003 + 5162614.805 + 5986050.849 = ₫19,013,331 Mil.
Gross Profit was 282455.853 + 183674.107 + 373766.809 + 544980.707 = ₫1,384,877 Mil.
Total Current Assets was ₫9,777,128 Mil.
Total Assets was ₫12,362,675 Mil.
Property, Plant and Equipment(Net PPE) was ₫1,886,032 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫328,120 Mil.
Selling, General, & Admin. Expense(SGA) was ₫1,047,595 Mil.
Total Current Liabilities was ₫8,375,476 Mil.
Long-Term Debt & Capital Lease Obligation was ₫138,616 Mil.
Net Income was 62692.221 + 21317.72 + 53705.375 + 171420.913 = ₫309,136 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₫0 Mil.
Cash Flow from Operations was -338117.712 + -88137.394 + -144254.633 + 59123.067 = ₫-511,387 Mil.
|
Total Receivables was ₫1,380,735 Mil.
Revenue was 4099109.998 + 4620630.365 + 4087528.024 + 4786942.498 = ₫17,594,211 Mil.
Gross Profit was 346676.388 + 308535.046 + 210831.172 + 316110.222 = ₫1,182,153 Mil.
Total Current Assets was ₫10,321,933 Mil.
Total Assets was ₫13,145,680 Mil.
Property, Plant and Equipment(Net PPE) was ₫2,075,060 Mil.
Depreciation, Depletion and Amortization(DDA) was ₫346,998 Mil.
Selling, General, & Admin. Expense(SGA) was ₫863,445 Mil.
Total Current Liabilities was ₫9,351,617 Mil.
Long-Term Debt & Capital Lease Obligation was ₫106,082 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) |
| = | (1441200.807 / 19013330.889) | / | (1380735.313 / 17594210.885) |
| = | 0.075799 | / | 0.078477 |
| | = | 0.9659 |
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) |
| = | (1182152.828 / 17594210.885) | / | (1384877.476 / 19013330.889) |
| = | 0.06719 | / | 0.072837 |
| | = | 0.9225 |
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 - (9777127.821 + 1886032.065) / 12362675.49) | / | (1 - (10321933.392 + 2075059.559) / 13145680.31) |
| = | 0.056583 | / | 0.056953 |
| | = | 0.9935 |
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 |
| = | 19013330.889 | / | 17594210.885 |
| | = | 1.0807 |
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)) |
| = | (346997.975 / (346997.975 + 2075059.559)) | / | (328119.816 / (328119.816 + 1886032.065)) |
| = | 0.143266 | / | 0.148192 |
| | = | 0.9668 |
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) |
| = | (1047595.224 / 19013330.889) | / | (863444.886 / 17594210.885) |
| = | 0.055098 | / | 0.049076 |
| | = | 1.1227 |
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) |
| = | ((138616.022 + 8375476.017) / 12362675.49) | / | ((106082.287 + 9351617.417) / 13145680.31) |
| = | 0.688693 | / | 0.719453 |
| | = | 0.9572 |
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 |
| = | (309136.229 - 0 | - | -511386.672) | / | 12362675.49 |
| | = | 0.066371 |
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.
Ton Dong A has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
HSTC:GDA has been successfully added to your