Hangzhou Cable Co Beneish M-Score Historical Data
The historical data trend for Hangzhou Cable 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.
Hangzhou Cable Co Beneish M-Score Chart
|
Hangzhou Cable Co Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.43 |
-2.23 |
-1.80 |
-2.22 |
-2.61 |
|
Hangzhou Cable Co 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.66 |
-2.61 |
-2.36 |
-2.33 |
-2.25 |
Competitive Comparison of Hangzhou Cable Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, Hangzhou Cable 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.
Hangzhou Cable Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Hangzhou Cable Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hangzhou Cable Co's Beneish M-Score falls into.
Hangzhou Cable 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 Hangzhou Cable 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 * 0.9139 | + | 0.528 * 1.1443 | + | 0.404 * 0.9298 | + | 0.892 * 1.1025 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0096 | + | 4.679 * 0.036766 | - | 0.327 * 1.0041 |
| = | -2.25 |
* 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 ¥4,607 Mil.
Revenue was 2568.726 + 2214.629 + 1659.663 + 1779.783 = ¥8,223 Mil.
Gross Profit was 289.43 + 291.462 + 265.829 + 273.976 = ¥1,121 Mil.
Total Current Assets was ¥7,617 Mil.
Total Assets was ¥10,389 Mil.
Property, Plant and Equipment(Net PPE) was ¥2,357 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥350 Mil.
Total Current Liabilities was ¥6,320 Mil.
Long-Term Debt & Capital Lease Obligation was ¥863 Mil.
Net Income was 50.693 + 44.976 + 25.398 + 14.837 = ¥136 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -48.635 + -117.008 + -334.822 + 254.408 = ¥-246 Mil.
|
Total Receivables was ¥4,572 Mil.
Revenue was 1993.375 + 2111.379 + 1481.305 + 1872.511 = ¥7,459 Mil.
Gross Profit was 266.427 + 369.255 + 204.747 + 322.746 = ¥1,163 Mil.
Total Current Assets was ¥7,189 Mil.
Total Assets was ¥9,789 Mil.
Property, Plant and Equipment(Net PPE) was ¥2,179 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥315 Mil.
Total Current Liabilities was ¥5,529 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,211 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) |
| = | (4606.653 / 8222.801) | / | (4572.007 / 7458.57) |
| = | 0.560229 | / | 0.612987 |
| | = | 0.9139 |
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) |
| = | (1163.175 / 7458.57) | / | (1120.697 / 8222.801) |
| = | 0.155951 | / | 0.136291 |
| | = | 1.1443 |
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 - (7616.56 + 2356.75) / 10388.981) | / | (1 - (7188.886 + 2178.853) / 9788.968) |
| = | 0.040011 | / | 0.043031 |
| | = | 0.9298 |
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 |
| = | 8222.801 | / | 7458.57 |
| | = | 1.1025 |
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 + 2178.853)) | / | (0 / (0 + 2356.75)) |
| = | 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) |
| = | (350.413 / 8222.801) | / | (314.82 / 7458.57) |
| = | 0.042615 | / | 0.042209 |
| | = | 1.0096 |
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) |
| = | ((863.258 + 6320.078) / 10388.981) | / | ((1211.493 + 5529.466) / 9788.968) |
| = | 0.691438 | / | 0.688628 |
| | = | 1.0041 |
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 |
| = | (135.904 - 0 | - | -246.057) | / | 10388.981 |
| | = | 0.036766 |
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.
Hangzhou Cable Co has a M-score of -2.25 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SHSE:603618 has been successfully added to your