Sinotrans Beneish M-Score Historical Data
The historical data trend for Sinotrans'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.
Sinotrans Beneish M-Score Chart
|
Sinotrans Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
- |
- |
- |
-2.17 |
-1.96 |
|
Sinotrans Quarterly Data
|
|
Dec17 |
Jun18 |
Dec18 |
Jun19 |
Dec19 |
Jun20 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.17 |
- |
-1.75 |
-1.92 |
-1.96 |
Competitive Comparison of Sinotrans's Beneish M-Score
For the Integrated Freight & Logistics subindustry, Sinotrans'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.
Sinotrans's Beneish M-Score Distribution in the Transportation Industry
For the Transportation industry and Industrials sector, Sinotrans's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sinotrans's Beneish M-Score falls into.
Sinotrans 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 Sinotrans 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 * 1.0301 | + | 0.528 * 1.1703 | + | 0.404 * 0.9891 | + | 0.892 * 1.0379 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8459 | + | 4.679 * 0.08586 | - | 0.327 * 0.9667 |
| = | -1.89 |
* 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 ¥14,872 Mil.
Revenue was 19748.491 + 29504.584 + 32081.068 + 24286.63 = ¥105,621 Mil.
Gross Profit was -2340.166 + 2592.236 + 344.183 + 1250.808 = ¥1,847 Mil.
Total Current Assets was ¥35,635 Mil.
Total Assets was ¥77,196 Mil.
Property, Plant and Equipment(Net PPE) was ¥18,734 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥619 Mil.
Total Current Liabilities was ¥26,927 Mil.
Long-Term Debt & Capital Lease Obligation was ¥7,392 Mil.
Net Income was 1092.422 + 880.171 + 1142.326 + 802.733 = ¥3,918 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + -2710.335 = ¥-2,710 Mil.
|
Total Receivables was ¥13,910 Mil.
Revenue was 28991.654 + 24674.152 + 25629.848 + 22468.998 = ¥101,765 Mil.
Gross Profit was -2319.768 + 2756.544 + 107.073 + 1538.93 = ¥2,083 Mil.
Total Current Assets was ¥34,637 Mil.
Total Assets was ¥75,907 Mil.
Property, Plant and Equipment(Net PPE) was ¥18,576 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥705 Mil.
Total Current Liabilities was ¥28,056 Mil.
Long-Term Debt & Capital Lease Obligation was ¥6,852 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) |
| = | (14872.05 / 105620.773) | / | (13909.898 / 101764.652) |
| = | 0.140806 | / | 0.136687 |
| | = | 1.0301 |
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) |
| = | (2082.779 / 101764.652) | / | (1847.061 / 105620.773) |
| = | 0.020467 | / | 0.017488 |
| | = | 1.1703 |
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 - (35634.998 + 18733.511) / 77195.5) | / | (1 - (34636.545 + 18576.495) / 75906.791) |
| = | 0.295704 | / | 0.298969 |
| | = | 0.9891 |
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 |
| = | 105620.773 | / | 101764.652 |
| | = | 1.0379 |
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 + 18576.495)) | / | (0 / (0 + 18733.511)) |
| = | 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) |
| = | (618.723 / 105620.773) | / | (704.675 / 101764.652) |
| = | 0.005858 | / | 0.006925 |
| | = | 0.8459 |
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) |
| = | ((7391.653 + 26927.296) / 77195.5) | / | ((6852.121 + 28055.54) / 75906.791) |
| = | 0.444572 | / | 0.459875 |
| | = | 0.9667 |
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 |
| = | (3917.652 - 0 | - | -2710.335) | / | 77195.5 |
| | = | 0.08586 |
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.
Sinotrans has a M-score of -1.89 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SHSE:601598 has been successfully added to your