Lifestyle Global Enterprise Beneish M-Score Historical Data
The historical data trend for Lifestyle Global Enterprise'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.
Lifestyle Global Enterprise Beneish M-Score Chart
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Lifestyle Global Enterprise Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.91 |
-2.67 |
-3.18 |
-2.47 |
-2.71 |
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Lifestyle Global Enterprise Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.47 |
-2.82 |
-2.93 |
-3.05 |
-2.71 |
Competitive Comparison of Lifestyle Global Enterprise's Beneish M-Score
For the Furnishings, Fixtures & Appliances subindustry, Lifestyle Global Enterprise'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.
Lifestyle Global Enterprise's Beneish M-Score Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Lifestyle Global Enterprise's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Lifestyle Global Enterprise's Beneish M-Score falls into.
Lifestyle Global Enterprise 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 Lifestyle Global Enterprise 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 * 0.9806 | + | 0.528 * 1.0156 | + | 0.404 * 1.2086 | + | 0.892 * 1.0255 | + | 0.115 * 0.988 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0126 | + | 4.679 * -0.068597 | - | 0.327 * 0.9957 |
| = | -2.71 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was NT$1,062 Mil.
Revenue was 1403.128 + 1321.229 + 1220.879 + 1092.892 = NT$5,038 Mil.
Gross Profit was 156.417 + 166.937 + 160.517 + 138.132 = NT$622 Mil.
Total Current Assets was NT$1,419 Mil.
Total Assets was NT$1,572 Mil.
Property, Plant and Equipment(Net PPE) was NT$102 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$33 Mil.
Selling, General, & Admin. Expense(SGA) was NT$552 Mil.
Total Current Liabilities was NT$795 Mil.
Long-Term Debt & Capital Lease Obligation was NT$10 Mil.
Net Income was 2.68 + -11.872 + -2.653 + 4.688 = NT$-7 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0 Mil.
Cash Flow from Operations was -7.878 + -6.445 + -34.22 + 149.242 = NT$101 Mil.
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Total Receivables was NT$1,057 Mil.
Revenue was 1385.97 + 1378.994 + 1159.608 + 988.415 = NT$4,913 Mil.
Gross Profit was 177.698 + 166.796 + 146.906 + 124.638 = NT$616 Mil.
Total Current Assets was NT$1,449 Mil.
Total Assets was NT$1,590 Mil.
Property, Plant and Equipment(Net PPE) was NT$98 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$32 Mil.
Selling, General, & Admin. Expense(SGA) was NT$532 Mil.
Total Current Liabilities was NT$792 Mil.
Long-Term Debt & Capital Lease Obligation was NT$26 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) |
| = | (1062.423 / 5038.128) | / | (1056.56 / 4912.987) |
| = | 0.210877 | / | 0.215055 |
| | = | 0.9806 |
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) |
| = | (616.038 / 4912.987) | / | (622.003 / 5038.128) |
| = | 0.12539 | / | 0.123459 |
| | = | 1.0156 |
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 - (1419.012 + 101.778) / 1572.321) | / | (1 - (1448.68 + 98.373) / 1590.176) |
| = | 0.032774 | / | 0.027118 |
| | = | 1.2086 |
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 |
| = | 5038.128 | / | 4912.987 |
| | = | 1.0255 |
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)) |
| = | (31.653 / (31.653 + 98.373)) | / | (33.276 / (33.276 + 101.778)) |
| = | 0.243436 | / | 0.24639 |
| | = | 0.988 |
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) |
| = | (552.16 / 5038.128) | / | (531.757 / 4912.987) |
| = | 0.109596 | / | 0.108235 |
| | = | 1.0126 |
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) |
| = | ((10.103 + 795.39) / 1572.321) | / | ((26.382 + 791.811) / 1590.176) |
| = | 0.512296 | / | 0.51453 |
| | = | 0.9957 |
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 |
| = | (-7.157 - 0 | - | 100.699) | / | 1572.321 |
| | = | -0.068597 |
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.
Lifestyle Global Enterprise has a M-score of -2.71 suggests that the company is unlikely to be a manipulator.
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