Jinyu Bio-Technology Co Beneish M-Score Historical Data
The historical data trend for Jinyu Bio-Technology Co'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.
Jinyu Bio-Technology Co Beneish M-Score Chart
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Jinyu Bio-Technology Co Annual Data
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Dec14 |
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Dec23 |
| Beneish M-Score |
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-2.46 |
-2.59 |
-2.35 |
-2.37 |
-2.65 |
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Jinyu Bio-Technology Co Quarterly Data
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Dec19 |
Mar20 |
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Sep24 |
| Beneish M-Score |
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-2.65 |
-2.65 |
-2.84 |
-2.47 |
-2.52 |
Competitive Comparison of Jinyu Bio-Technology Co's Beneish M-Score
For the Biotechnology subindustry, Jinyu Bio-Technology Co'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.
Jinyu Bio-Technology Co's Beneish M-Score Distribution in the Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Jinyu Bio-Technology Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Jinyu Bio-Technology Co's Beneish M-Score falls into.
Jinyu Bio-Technology Co 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 Jinyu Bio-Technology Co 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 * 0.973 | + | 0.528 * 1.0571 | + | 0.404 * 1.4091 | + | 0.892 * 0.8236 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9791 | + | 4.679 * -0.024017 | - | 0.327 * 0.8448 |
| = | -2.52 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was ¥791 Mil.
Revenue was 359.073 + 263.83 + 347.901 + 379.236 = ¥1,350 Mil.
Gross Profit was 191.234 + 142.815 + 211.517 + 217.246 = ¥763 Mil.
Total Current Assets was ¥2,448 Mil.
Total Assets was ¥6,903 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,859 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥255 Mil.
Total Current Liabilities was ¥694 Mil.
Long-Term Debt & Capital Lease Obligation was ¥2 Mil.
Net Income was 46.622 + 17.332 + 105.587 + -4.679 = ¥165 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 80.548 + 85.039 + 45.691 + 119.379 = ¥331 Mil.
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Total Receivables was ¥987 Mil.
Revenue was 534.274 + 320.711 + 364.004 + 420.274 = ¥1,639 Mil.
Gross Profit was 335.495 + 175.947 + 217.291 + 250.378 = ¥979 Mil.
Total Current Assets was ¥3,191 Mil.
Total Assets was ¥6,800 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,794 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥317 Mil.
Total Current Liabilities was ¥811 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0 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) |
| = | (791.185 / 1350.04) | / | (987.36 / 1639.263) |
| = | 0.586046 | / | 0.602319 |
| | = | 0.973 |
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) |
| = | (979.111 / 1639.263) | / | (762.812 / 1350.04) |
| = | 0.597287 | / | 0.565029 |
| | = | 1.0571 |
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 - (2448.315 + 1859.213) / 6903.124) | / | (1 - (3191.463 + 1793.911) / 6799.785) |
| = | 0.376003 | / | 0.266834 |
| | = | 1.4091 |
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 |
| = | 1350.04 | / | 1639.263 |
| | = | 0.8236 |
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 / (0 + 1793.911)) | / | (0 / (0 + 1859.213)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (255.222 / 1350.04) | / | (316.508 / 1639.263) |
| = | 0.189048 | / | 0.193079 |
| | = | 0.9791 |
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) |
| = | ((2.235 + 693.69) / 6903.124) | / | ((0.208 + 811.268) / 6799.785) |
| = | 0.100813 | / | 0.119338 |
| | = | 0.8448 |
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 |
| = | (164.862 - 0 | - | 330.657) | / | 6903.124 |
| | = | -0.024017 |
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.
Jinyu Bio-Technology Co has a M-score of -2.52 suggests that the company is unlikely to be a manipulator.
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