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JBDI (JBDI Holdings) Beneish M-Score : 0.00 (As of Mar. 18, 2025)


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What is JBDI 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 JBDI Holdings's Beneish M-Score or its related term are showing as below:

During the past 4 years, the highest Beneish M-Score of JBDI Holdings was 0.00. The lowest was 0.00. And the median was 0.00.


JBDI Holdings Beneish M-Score Historical Data

The historical data trend for JBDI 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.

JBDI Holdings Beneish M-Score Chart

JBDI Holdings Annual Data
Trend May21 May22 May23 May24
Beneish M-Score
- - - -

JBDI Holdings Semi-Annual Data
May21 Nov21 May22 Nov22 May23 Nov23 May24
Beneish M-Score Get a 7-Day Free Trial - - - - -

Competitive Comparison of JBDI Holdings's Beneish M-Score

For the Specialty Retail subindustry, JBDI 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.


JBDI Holdings's Beneish M-Score Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, JBDI Holdings's Beneish M-Score distribution charts can be found below:

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



JBDI 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 JBDI Holdings 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 * +0.528 * +0.404 * +0.892 * +0.115 *
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * +4.679 * -0.327 *
=

* 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 (May24) TTM:Last Year (May23) TTM:
Total Receivables was $2.00 Mil.
Revenue was $9.39 Mil.
Gross Profit was $6.36 Mil.
Total Current Assets was $2.48 Mil.
Total Assets was $4.46 Mil.
Property, Plant and Equipment(Net PPE) was $1.98 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.53 Mil.
Selling, General, & Admin. Expense(SGA) was $5.74 Mil.
Total Current Liabilities was $3.01 Mil.
Long-Term Debt & Capital Lease Obligation was $1.06 Mil.
Net Income was $-0.98 Mil.
Gross Profit was $-0.89 Mil.
Cash Flow from Operations was $1.00 Mil.
Total Receivables was $2.49 Mil.
Revenue was $11.12 Mil.
Gross Profit was $7.60 Mil.
Total Current Assets was $3.28 Mil.
Total Assets was $6.34 Mil.
Property, Plant and Equipment(Net PPE) was $3.06 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.48 Mil.
Selling, General, & Admin. Expense(SGA) was $5.48 Mil.
Total Current Liabilities was $3.12 Mil.
Long-Term Debt & Capital Lease Obligation was $1.71 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)
=(1.997 / 9.394) / (2.491 / 11.122)
=0.212582 / 0.223971
=

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)
=(7.598 / 11.122) / (6.362 / 9.394)
=0.683151 / 0.677241
=

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 - (2.478 + 1.977) / 4.455) / (1 - (3.282 + 3.055) / 6.337)
=0 / 0
=

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
=9.394 / 11.122
=

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))
=(0.475 / (0.475 + 3.055)) / (0.525 / (0.525 + 1.977))
=0.134561 / 0.209832
=

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)
=(5.741 / 9.394) / (5.482 / 11.122)
=0.611135 / 0.492897
=

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)
=((1.064 + 3.007) / 4.455) / ((1.71 + 3.123) / 6.337)
=0.913805 / 0.762664
=

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
=(-0.977 - -0.887 - 1) / 4.455
=-0.244669

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.


JBDI Holdings Beneish M-Score Related Terms

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JBDI Holdings Business Description

Traded in Other Exchanges
N/A
Address
34 Gul Crescent, Singapore, SGP, 629538
JBDI Holdings Ltd is a supplier of Reconditioned and new Containers in Singapore. Its products include Reconditioned and new steel drums, plastic drums, carboys and IBCs.