Japan Airlines Co Beneish M-Score Historical Data
The historical data trend for Japan Airlines 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.
Japan Airlines Co Beneish M-Score Chart
|
Japan Airlines Co Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.85 |
-3.14 |
-4.56 |
-3.15 |
-2.68 |
|
Japan Airlines Co Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
- |
-2.68 |
- |
- |
- |
Competitive Comparison of Japan Airlines Co's Beneish M-Score
For the Airlines subindustry, Japan Airlines 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.
Japan Airlines Co's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Japan Airlines Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Japan Airlines Co's Beneish M-Score falls into.
Japan Airlines 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 Japan Airlines 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 * 0.7215 | + | 0.528 * 0.3775 | + | 0.404 * 0.9336 | + | 0.892 * 1.7875 | + | 0.115 * 1.0909 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1 | + | 4.679 * -0.102549 | - | 0.327 * 1.0653 |
| = | -2.88 |
* 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 (Mar23) TTM: | Last Year (Mar22) TTM: |
Total Receivables was $1,309 Mil.
Revenue was $10,291 Mil.
Gross Profit was $4,502 Mil.
Total Current Assets was $6,904 Mil.
Total Assets was $18,858 Mil.
Property, Plant and Equipment(Net PPE) was $7,689 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,184 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $5,009 Mil.
Long-Term Debt & Capital Lease Obligation was $6,086 Mil.
Net Income was $258 Mil.
Gross Profit was $0 Mil.
Cash Flow from Operations was $2,191 Mil.
|
Total Receivables was $1,015 Mil.
Revenue was $5,758 Mil.
Gross Profit was $951 Mil.
Total Current Assets was $6,329 Mil.
Total Assets was $20,035 Mil.
Property, Plant and Equipment(Net PPE) was $8,854 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,508 Mil.
Selling, General, & Admin. Expense(SGA) was $0 Mil.
Total Current Liabilities was $3,968 Mil.
Long-Term Debt & Capital Lease Obligation was $7,098 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) |
| = | (1308.547 / 10291.364) | / | (1014.713 / 5757.522) |
| = | 0.12715 | / | 0.176241 |
| | = | 0.7215 |
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) |
| = | (950.83 / 5757.522) | / | (4501.77 / 10291.364) |
| = | 0.165146 | / | 0.437432 |
| | = | 0.3775 |
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 - (6904.461 + 7689.376) / 18857.713) | / | (1 - (6329.233 + 8853.888) / 20035.218) |
| = | 0.226108 | / | 0.242178 |
| | = | 0.9336 |
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 |
| = | 10291.364 | / | 5757.522 |
| | = | 1.7875 |
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)) |
| = | (1507.749 / (1507.749 + 8853.888)) | / | (1183.54 / (1183.54 + 7689.376)) |
| = | 0.145513 | / | 0.133388 |
| | = | 1.0909 |
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) |
| = | (0 / 10291.364) | / | (0 / 5757.522) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | ((6086.405 + 5009.4) / 18857.713) | / | ((7098.123 + 3967.754) / 20035.218) |
| = | 0.588396 | / | 0.552321 |
| | = | 1.0653 |
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 |
| = | (257.533 - 0 | - | 2191.37) | / | 18857.713 |
| | = | -0.102549 |
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.
Japan Airlines Co has a M-score of -2.88 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
JAPSY has been successfully added to your