Shanghai Lily & Beauty Cosmetics Co Beneish M-Score Historical Data
The historical data trend for Shanghai Lily & Beauty Cosmetics 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.
Shanghai Lily & Beauty Cosmetics Co Beneish M-Score Chart
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Shanghai Lily & Beauty Cosmetics Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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3.32 |
-1.71 |
-1.19 |
-2.81 |
-2.56 |
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Shanghai Lily & Beauty Cosmetics Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.83 |
-2.98 |
-2.55 |
-2.56 |
-3.44 |
Competitive Comparison of Shanghai Lily & Beauty Cosmetics Co's Beneish M-Score
For the Internet Retail subindustry, Shanghai Lily & Beauty Cosmetics 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.
Shanghai Lily & Beauty Cosmetics Co's Beneish M-Score Distribution in the Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Shanghai Lily & Beauty Cosmetics Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Shanghai Lily & Beauty Cosmetics Co's Beneish M-Score falls into.
Shanghai Lily & Beauty Cosmetics 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 Shanghai Lily & Beauty Cosmetics 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 * 1.1347 | + | 0.528 * 0.7873 | + | 0.404 * 1.1406 | + | 0.892 * 0.8343 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0843 | + | 4.679 * -0.187845 | - | 0.327 * 0.9561 |
| = | -3.44 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ¥309 Mil.
Revenue was 472.339 + 832.099 + 491.23 + 824.749 = ¥2,620 Mil.
Gross Profit was 150.109 + 347.612 + 147.044 + 244.995 = ¥890 Mil.
Total Current Assets was ¥2,356 Mil.
Total Assets was ¥2,769 Mil.
Property, Plant and Equipment(Net PPE) was ¥51 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥709 Mil.
Total Current Liabilities was ¥233 Mil.
Long-Term Debt & Capital Lease Obligation was ¥12 Mil.
Net Income was -9.546 + 81.459 + -27.987 + 0.346 = ¥44 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 1.72 + 467.473 + -189.567 + 284.702 = ¥564 Mil.
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Total Receivables was ¥326 Mil.
Revenue was 614.314 + 1143.484 + 540.872 + 842.208 = ¥3,141 Mil.
Gross Profit was 215.2 + 271.068 + 136.111 + 217.305 = ¥840 Mil.
Total Current Assets was ¥2,355 Mil.
Total Assets was ¥2,731 Mil.
Property, Plant and Equipment(Net PPE) was ¥63 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥784 Mil.
Total Current Liabilities was ¥232 Mil.
Long-Term Debt & Capital Lease Obligation was ¥21 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) |
| = | (309.01 / 2620.417) | / | (326.409 / 3140.878) |
| = | 0.117924 | / | 0.103923 |
| | = | 1.1347 |
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) |
| = | (839.684 / 3140.878) | / | (889.76 / 2620.417) |
| = | 0.267341 | / | 0.339549 |
| | = | 0.7873 |
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 - (2355.952 + 50.951) / 2768.531) | / | (1 - (2354.702 + 63.123) / 2730.536) |
| = | 0.130621 | / | 0.114524 |
| | = | 1.1406 |
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 |
| = | 2620.417 | / | 3140.878 |
| | = | 0.8343 |
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 + 63.123)) | / | (0 / (0 + 50.951)) |
| = | 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) |
| = | (708.984 / 2620.417) | / | (783.756 / 3140.878) |
| = | 0.270562 | / | 0.249534 |
| | = | 1.0843 |
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) |
| = | ((12.333 + 233.39) / 2768.531) | / | ((21.306 + 232.182) / 2730.536) |
| = | 0.088756 | / | 0.092835 |
| | = | 0.9561 |
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 |
| = | (44.272 - 0 | - | 564.328) | / | 2768.531 |
| | = | -0.187845 |
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.
Shanghai Lily & Beauty Cosmetics Co has a M-score of -3.44 suggests that the company is unlikely to be a manipulator.
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