Xinjiang Xuefeng Sci-Tech (Group) Co Beneish M-Score Historical Data
The historical data trend for Xinjiang Xuefeng Sci-Tech (Group) 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.
Xinjiang Xuefeng Sci-Tech (Group) Co Beneish M-Score Chart
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Xinjiang Xuefeng Sci-Tech (Group) Co Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.50 |
-2.01 |
-2.62 |
-2.33 |
-2.69 |
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Xinjiang Xuefeng Sci-Tech (Group) Co Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
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Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.33 |
-2.55 |
-2.64 |
-2.51 |
-2.69 |
Competitive Comparison of Xinjiang Xuefeng Sci-Tech (Group) Co's Beneish M-Score
For the Specialty Chemicals subindustry, Xinjiang Xuefeng Sci-Tech (Group) 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.
Xinjiang Xuefeng Sci-Tech (Group) Co's Beneish M-Score Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Xinjiang Xuefeng Sci-Tech (Group) Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Xinjiang Xuefeng Sci-Tech (Group) Co's Beneish M-Score falls into.
Xinjiang Xuefeng Sci-Tech (Group) 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 Xinjiang Xuefeng Sci-Tech (Group) 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 * 1.395 | + | 0.528 * 1.0088 | + | 0.404 * 0.9752 | + | 0.892 * 0.869 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 3.7022 | + | 4.679 * -0.004672 | - | 0.327 * 0.8809 |
| = | -2.69 |
* 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 ¥1,732 Mil.
Revenue was 1540.848 + 1741.326 + 1639.049 + 1179.976 = ¥6,101 Mil.
Gross Profit was 260.161 + 442.248 + 463.809 + 250.048 = ¥1,416 Mil.
Total Current Assets was ¥3,480 Mil.
Total Assets was ¥7,890 Mil.
Property, Plant and Equipment(Net PPE) was ¥3,337 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥315 Mil.
Total Current Liabilities was ¥1,599 Mil.
Long-Term Debt & Capital Lease Obligation was ¥236 Mil.
Net Income was 66.575 + 210.075 + 266.531 + 125.252 = ¥668 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 165.62 + 85.071 + 498.245 + -43.641 = ¥705 Mil.
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Total Receivables was ¥1,429 Mil.
Revenue was 1631.218 + 1713.217 + 1852.981 + 1823.511 = ¥7,021 Mil.
Gross Profit was 344.706 + 453.775 + 452.362 + 393.264 = ¥1,644 Mil.
Total Current Assets was ¥3,071 Mil.
Total Assets was ¥7,653 Mil.
Property, Plant and Equipment(Net PPE) was ¥3,515 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥98 Mil.
Total Current Liabilities was ¥1,683 Mil.
Long-Term Debt & Capital Lease Obligation was ¥337 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) |
| = | (1732.409 / 6101.199) | / | (1429.125 / 7020.927) |
| = | 0.283946 | / | 0.203552 |
| | = | 1.395 |
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) |
| = | (1644.107 / 7020.927) | / | (1416.266 / 6101.199) |
| = | 0.234172 | / | 0.232129 |
| | = | 1.0088 |
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 - (3480.424 + 3337.383) / 7889.965) | / | (1 - (3071.176 + 3515.366) / 7652.935) |
| = | 0.135889 | / | 0.139344 |
| | = | 0.9752 |
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 |
| = | 6101.199 | / | 7020.927 |
| | = | 0.869 |
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 + 3515.366)) | / | (0 / (0 + 3337.383)) |
| = | 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) |
| = | (315.35 / 6101.199) | / | (98.021 / 7020.927) |
| = | 0.051687 | / | 0.013961 |
| | = | 3.7022 |
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) |
| = | ((235.672 + 1599.347) / 7889.965) | / | ((337.315 + 1683.248) / 7652.935) |
| = | 0.232576 | / | 0.264025 |
| | = | 0.8809 |
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 |
| = | (668.433 - 0 | - | 705.295) | / | 7889.965 |
| | = | -0.004672 |
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.
Xinjiang Xuefeng Sci-Tech (Group) Co has a M-score of -2.69 suggests that the company is unlikely to be a manipulator.
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