Dynamic Services & Security Beneish M-Score Historical Data
The historical data trend for Dynamic Services & Security'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.
Dynamic Services & Security Beneish M-Score Chart
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Dynamic Services & Security Annual Data
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Trend |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
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|
- |
130.08 |
0.07 |
-2.73 |
-15,093.31 |
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Dynamic Services & Security Semi-Annual Data
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Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
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|
- |
130.08 |
0.07 |
-2.73 |
-15,093.31 |
Competitive Comparison of Dynamic Services & Security's Beneish M-Score
For the Staffing & Employment Services subindustry, Dynamic Services & Security'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.
Dynamic Services & Security's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Dynamic Services & Security's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Dynamic Services & Security's Beneish M-Score falls into.
Dynamic Services & Security 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 Dynamic Services & Security 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 * 0.6505 | + | 0.528 * 0.6329 | + | 0.404 * -37354.3333 | + | 0.892 * 1.4577 | + | 0.115 * 3.6835 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.7802 | + | 4.679 * 0.13737 | - | 0.327 * 0.9623 |
| = | -15,093.31 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ₹411 Mil.
Revenue was ₹1,193 Mil.
Gross Profit was ₹243 Mil.
Total Current Assets was ₹835 Mil.
Total Assets was ₹1,569 Mil.
Property, Plant and Equipment(Net PPE) was ₹557 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹2 Mil.
Selling, General, & Admin. Expense(SGA) was ₹10 Mil.
Total Current Liabilities was ₹467 Mil.
Long-Term Debt & Capital Lease Obligation was ₹48 Mil.
Net Income was ₹89 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-127 Mil.
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Total Receivables was ₹433 Mil.
Revenue was ₹819 Mil.
Gross Profit was ₹106 Mil.
Total Current Assets was ₹745 Mil.
Total Assets was ₹1,044 Mil.
Property, Plant and Equipment(Net PPE) was ₹299 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹3 Mil.
Selling, General, & Admin. Expense(SGA) was ₹4 Mil.
Total Current Liabilities was ₹289 Mil.
Long-Term Debt & Capital Lease Obligation was ₹67 Mil.
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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) |
| = | (410.808 / 1193.459) | / | (433.256 / 818.75) |
| = | 0.344216 | / | 0.529168 |
| | = | 0.6505 |
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) |
| = | (105.646 / 818.75) | / | (243.302 / 1193.459) |
| = | 0.129033 | / | 0.203863 |
| | = | 0.6329 |
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 - (835.376 + 557.458) / 1568.618) | / | (1 - (744.908 + 299.15) / 1044.055) |
| = | 0.112063 | / | -3.0E-6 |
| | = | -37354.3333 |
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 |
| = | 1193.459 | / | 818.75 |
| | = | 1.4577 |
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)) |
| = | (3.159 / (3.159 + 299.15)) | / | (1.586 / (1.586 + 557.458)) |
| = | 0.01045 | / | 0.002837 |
| | = | 3.6835 |
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) |
| = | (9.714 / 1193.459) | / | (3.743 / 818.75) |
| = | 0.008139 | / | 0.004572 |
| | = | 1.7802 |
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) |
| = | ((47.753 + 467.117) / 1568.618) | / | ((66.99 + 289.136) / 1044.055) |
| = | 0.328232 | / | 0.341099 |
| | = | 0.9623 |
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 |
| = | (88.688 - 0 | - | -126.793) | / | 1568.618 |
| | = | 0.13737 |
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.
Dynamic Services & Security has a M-score of -15,093.31 suggests that the company is unlikely to be a manipulator.
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