Orient Group Beneish M-Score Historical Data
The historical data trend for Orient 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.
Orient Group Beneish M-Score Chart
|
Orient Group Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.01 |
-2.63 |
-2.70 |
-1.06 |
-3.51 |
|
Orient Group Quarterly Data
|
|
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.13 |
-3.51 |
-3.35 |
-2.87 |
-1.02 |
Competitive Comparison of Orient Group's Beneish M-Score
For the Industrial Distribution subindustry, Orient 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.
Orient Group's Beneish M-Score Distribution in the Industrial Distribution Industry
For the Industrial Distribution industry and Industrials sector, Orient Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Orient Group's Beneish M-Score falls into.
Orient 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 Orient 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 * 4.5173 | + | 0.528 * 0.2204 | + | 0.404 * 1.1057 | + | 0.892 * 0.1509 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 3.6347 | + | 4.679 * -0.044792 | - | 0.327 * 0.9712 |
| = | -1.02 |
* 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 ¥2,816 Mil.
Revenue was 247.365 + 68.517 + 413.162 + 494.744 = ¥1,224 Mil.
Gross Profit was 45.708 + 28.762 + 37.908 + 4.861 = ¥117 Mil.
Total Current Assets was ¥11,310 Mil.
Total Assets was ¥35,781 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,183 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥58 Mil.
Total Current Liabilities was ¥11,153 Mil.
Long-Term Debt & Capital Lease Obligation was ¥5,361 Mil.
Net Income was 39.492 + -80.71 + 172.464 + -1453.948 = ¥-1,323 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 128.208 + 100.123 + 17.8 + 33.872 = ¥280 Mil.
|
Total Receivables was ¥4,130 Mil.
Revenue was 2259.485 + 1385.046 + 1942.064 + 2521.77 = ¥8,108 Mil.
Gross Profit was 57.105 + 46.99 + 51.916 + 15.188 = ¥171 Mil.
Total Current Assets was ¥15,333 Mil.
Total Assets was ¥39,710 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,001 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥105 Mil.
Total Current Liabilities was ¥15,371 Mil.
Long-Term Debt & Capital Lease Obligation was ¥3,499 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) |
| = | (2815.552 / 1223.788) | / | (4129.64 / 8108.365) |
| = | 2.300686 | / | 0.509306 |
| | = | 4.5173 |
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) |
| = | (171.199 / 8108.365) | / | (117.239 / 1223.788) |
| = | 0.021114 | / | 0.0958 |
| | = | 0.2204 |
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 - (11309.577 + 1183.383) / 35780.77) | / | (1 - (15332.997 + 1001.47) / 39709.94) |
| = | 0.650847 | / | 0.588655 |
| | = | 1.1057 |
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 |
| = | 1223.788 | / | 8108.365 |
| | = | 0.1509 |
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 + 1001.47)) | / | (0 / (0 + 1183.383)) |
| = | 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) |
| = | (57.861 / 1223.788) | / | (105.474 / 8108.365) |
| = | 0.04728 | / | 0.013008 |
| | = | 3.6347 |
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) |
| = | ((5361.346 + 11152.769) / 35780.77) | / | ((3499.387 + 15371.129) / 39709.94) |
| = | 0.461536 | / | 0.475209 |
| | = | 0.9712 |
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 |
| = | (-1322.702 - 0 | - | 280.003) | / | 35780.77 |
| | = | -0.044792 |
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.
Orient Group has a M-score of -1.02 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SHSE:600811 has been successfully added to your