Job Solution Sweden Holding AB (OSTO:JOBS) Beneish M-Score : 1.03 (As of Jun. 05, 2024)

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What is Job Solution Sweden Holding AB 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.

Warning Sign:

Beneish M-Score 1.03 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Job Solution Sweden Holding AB's Beneish M-Score or its related term are showing as below:

OSTO:JOBS' s Beneish M-Score Range Over the Past 10 Years
Min: -1.12 Med: 8.28 Max: 16.42
Current: 1.03

During the past 4 years, the highest Beneish M-Score of Job Solution Sweden Holding AB was 16.42. The lowest was -1.12. And the median was 8.28.

Job Solution Sweden Holding AB Beneish M-Score Historical Data

The historical data trend for Job Solution Sweden Holding AB'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.

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Job Solution Sweden Holding AB Beneish M-Score Chart

Job Solution Sweden Holding AB Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

-1.12

Job Solution Sweden Holding AB Quarterly Data
	Dec20	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Beneish M-Score	Get a 7-Day Free Trial								-	15.53	16.42	-1.12	1.03

Competitive Comparison of Job Solution Sweden Holding AB's Beneish M-Score

For the Staffing & Employment Services subindustry, Job Solution Sweden Holding AB'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.

Job Solution Sweden Holding AB's Beneish M-Score Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Job Solution Sweden Holding AB's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Job Solution Sweden Holding AB's Beneish M-Score falls into.

Job Solution Sweden Holding AB 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 Job Solution Sweden Holding AB for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 2.0614

0.528 * 2.4445

0.404 * 1.5291

0.892 * 2.5304

0.115 * 1.402

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0

4.679 * 0.026383

0.327 * 1.446

1.03

This Year (Mar24) TTM:

Last Year (Mar23) TTM:

Total Receivables was kr78.8 Mil.
Revenue was 67.703 + 19.216 + 19.085 + 19.146 = kr125.2 Mil.
Gross Profit was 10.981 + 0.177 + 2.862 + 5.259 = kr19.3 Mil.
Total Current Assets was kr110.3 Mil.
Total Assets was kr221.5 Mil.
Property, Plant and Equipment(Net PPE) was kr14.1 Mil.
Depreciation, Depletion and Amortization(DDA) was kr3.0 Mil.
Selling, General, & Admin. Expense(SGA) was kr0.0 Mil.
Total Current Liabilities was kr111.3 Mil.
Long-Term Debt & Capital Lease Obligation was kr24.4 Mil.
Net Income was 4.729 + -3.393 + 1.074 + 1.278 = kr3.7 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = kr0.0 Mil.
Cash Flow from Operations was -7.871 + 2.135 + 1.975 + 1.605 = kr-2.2 Mil.

Total Receivables was kr15.1 Mil.
Revenue was 16.33 + 15.68 + 8.59 + 8.859 = kr49.5 Mil.
Gross Profit was 5.419 + 5.212 + 3.407 + 4.587 = kr18.6 Mil.
Total Current Assets was kr35.8 Mil.
Total Assets was kr57.9 Mil.
Property, Plant and Equipment(Net PPE) was kr5.5 Mil.
Depreciation, Depletion and Amortization(DDA) was kr1.8 Mil.
Selling, General, & Admin. Expense(SGA) was kr3.3 Mil.
Total Current Liabilities was kr13.4 Mil.
Long-Term Debt & Capital Lease Obligation was kr11.1 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)
	=	(78.785 / 125.15)	/	(15.104 / 49.459)
	=	0.629525	/	0.305384
	=	2.0614

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)
	=	(18.625 / 49.459)	/	(19.279 / 125.15)
	=	0.376575	/	0.154047
	=	2.4445

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 - (110.258 + 14.089) / 221.505)	/	(1 - (35.835 + 5.456) / 57.899)
	=	0.438627	/	0.286844
	=	1.5291

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
	=	125.15	/	49.459
	=	2.5304

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))
	=	(1.804 / (1.804 + 5.456))	/	(3.035 / (3.035 + 14.089))
	=	0.248485	/	0.177237
	=	1.402

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 / 125.15)	/	(3.341 / 49.459)
	=	0	/	0.067551
	=	0

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)
	=	((24.377 + 111.334) / 221.505)	/	((11.131 + 13.401) / 57.899)
	=	0.612677	/	0.423703
	=	1.446

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
	=	(3.688 - 0	-	-2.156)	/	221.505
	=	0.026383

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.

Job Solution Sweden Holding AB has a M-score of 1.03 signals that the company is likely to be a manipulator.

Job Solution Sweden Holding AB Beneish M-Score Related Terms

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