Mitsubishi Chemical Group Beneish M-Score Historical Data
The historical data trend for Mitsubishi Chemical Group'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.
Mitsubishi Chemical Group Beneish M-Score Chart
|
Mitsubishi Chemical Group Annual Data
|
|
Trend |
Mar14 |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.53 |
-3.07 |
-2.88 |
-2.45 |
-2.67 |
|
Mitsubishi Chemical Group 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.46 |
-2.67 |
-2.75 |
-2.82 |
-2.80 |
Competitive Comparison of Mitsubishi Chemical Group's Beneish M-Score
For the Specialty Chemicals subindustry, Mitsubishi Chemical Group'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.
Mitsubishi Chemical Group's Beneish M-Score Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Mitsubishi Chemical Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mitsubishi Chemical Group's Beneish M-Score falls into.
Mitsubishi Chemical Group 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 Mitsubishi Chemical Group 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 * 0.9355 | + | 0.528 * 0.9089 | + | 0.404 * 0.9898 | + | 0.892 * 0.9347 | + | 0.115 * 1.0177 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9927 | + | 4.679 * -0.048196 | - | 0.327 * 0.9638 |
| = | -2.86 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was $5,683 Mil.
Revenue was 7606.824 + 7363.496 + 7507.472 + 9189.941 = $31,668 Mil.
Gross Profit was 2039.713 + 1996.26 + 1890.39 + 2870.123 = $8,796 Mil.
Total Current Assets was $15,690 Mil.
Total Assets was $41,565 Mil.
Property, Plant and Equipment(Net PPE) was $13,564 Mil.
Depreciation, Depletion and Amortization(DDA) was $1,918 Mil.
Selling, General, & Admin. Expense(SGA) was $6,442 Mil.
Total Current Liabilities was $11,747 Mil.
Long-Term Debt & Capital Lease Obligation was $11,313 Mil.
Net Income was 254.56 + 166.905 + 300.91 + 591.235 = $1,314 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0 Mil.
Cash Flow from Operations was 620.344 + 951.909 + 388.92 + 1355.71 = $3,317 Mil.
|
Total Receivables was $6,499 Mil.
Revenue was 8422.775 + 8118.642 + 8260.065 + 9079.757 = $33,881 Mil.
Gross Profit was 2095.389 + 1979.191 + 2161.57 + 2318.047 = $8,554 Mil.
Total Current Assets was $16,437 Mil.
Total Assets was $43,470 Mil.
Property, Plant and Equipment(Net PPE) was $14,025 Mil.
Depreciation, Depletion and Amortization(DDA) was $2,023 Mil.
Selling, General, & Admin. Expense(SGA) was $6,944 Mil.
Total Current Liabilities was $12,558 Mil.
Long-Term Debt & Capital Lease Obligation was $12,464 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) |
| = | (5682.515 / 31667.733) | / | (6499.028 / 33881.239) |
| = | 0.179442 | / | 0.191818 |
| | = | 0.9355 |
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) |
| = | (8554.197 / 33881.239) | / | (8796.486 / 31667.733) |
| = | 0.252476 | / | 0.277774 |
| | = | 0.9089 |
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 - (15689.55 + 13564.479) / 41565.139) | / | (1 - (16436.892 + 14025.185) / 43469.953) |
| = | 0.296188 | / | 0.299238 |
| | = | 0.9898 |
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 |
| = | 31667.733 | / | 33881.239 |
| | = | 0.9347 |
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)) |
| = | (2023.229 / (2023.229 + 14025.185)) | / | (1917.823 / (1917.823 + 13564.479)) |
| = | 0.12607 | / | 0.123872 |
| | = | 1.0177 |
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) |
| = | (6442.362 / 31667.733) | / | (6943.663 / 33881.239) |
| = | 0.203436 | / | 0.204941 |
| | = | 0.9927 |
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) |
| = | ((11312.96 + 11746.898) / 41565.139) | / | ((12464.229 + 12557.518) / 43469.953) |
| = | 0.554788 | / | 0.57561 |
| | = | 0.9638 |
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 |
| = | (1313.61 - 0 | - | 3316.883) | / | 41565.139 |
| | = | -0.048196 |
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.
Mitsubishi Chemical Group has a M-score of -2.86 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
MTLHF has been successfully added to your