Autel Intelligent Technology Beneish M-Score Historical Data
The historical data trend for Autel Intelligent Technology'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.
Autel Intelligent Technology Beneish M-Score Chart
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Autel Intelligent Technology Annual Data
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Dec13 |
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Dec19 |
Dec20 |
Dec21 |
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Dec23 |
| Beneish M-Score |
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-1.61 |
-2.48 |
-2.16 |
-1.87 |
-2.50 |
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Autel Intelligent Technology Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
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Mar21 |
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Jun24 |
Sep24 |
| Beneish M-Score |
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-2.15 |
-2.50 |
-2.44 |
-2.55 |
-2.54 |
Competitive Comparison of Autel Intelligent Technology's Beneish M-Score
For the Auto Parts subindustry, Autel Intelligent Technology'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.
Autel Intelligent Technology's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Autel Intelligent Technology's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Autel Intelligent Technology's Beneish M-Score falls into.
Autel Intelligent Technology 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 Autel Intelligent Technology 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 * 0.8435 | + | 0.528 * 0.9682 | + | 0.404 * 1.1121 | + | 0.892 * 1.3279 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0106 | + | 4.679 * -0.046198 | - | 0.327 * 1.0572 |
| = | -2.54 |
* 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 ¥824 Mil.
Revenue was 962.408 + 978.517 + 863.228 + 1061.563 = ¥3,866 Mil.
Gross Profit was 529.225 + 546.937 + 489.625 + 597.484 = ¥2,163 Mil.
Total Current Assets was ¥3,984 Mil.
Total Assets was ¥5,907 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,281 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥414 Mil.
Total Current Liabilities was ¥1,124 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,195 Mil.
Net Income was 154.719 + 261.813 + 124.751 + -87.298 = ¥454 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 111.621 + 139.336 + 205.805 + 270.12 = ¥727 Mil.
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Total Receivables was ¥736 Mil.
Revenue was 741.913 + 741.394 + 706.282 + 721.482 = ¥2,911 Mil.
Gross Profit was 403.597 + 371.155 + 412.365 + 390.145 = ¥1,577 Mil.
Total Current Assets was ¥3,768 Mil.
Total Assets was ¥5,617 Mil.
Property, Plant and Equipment(Net PPE) was ¥1,300 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥309 Mil.
Total Current Liabilities was ¥911 Mil.
Long-Term Debt & Capital Lease Obligation was ¥1,176 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) |
| = | (824.326 / 3865.716) | / | (735.945 / 2911.071) |
| = | 0.21324 | / | 0.252809 |
| | = | 0.8435 |
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) |
| = | (1577.262 / 2911.071) | / | (2163.271 / 3865.716) |
| = | 0.541815 | / | 0.559604 |
| | = | 0.9682 |
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 - (3984.326 + 1281.028) / 5907.081) | / | (1 - (3768.377 + 1299.712) / 5616.781) |
| = | 0.108637 | / | 0.097688 |
| | = | 1.1121 |
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 |
| = | 3865.716 | / | 2911.071 |
| | = | 1.3279 |
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 + 1299.712)) | / | (0 / (0 + 1281.028)) |
| = | 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) |
| = | (414.257 / 3865.716) | / | (308.669 / 2911.071) |
| = | 0.107162 | / | 0.106033 |
| | = | 1.0106 |
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) |
| = | ((1195.158 + 1124.395) / 5907.081) | / | ((1175.578 + 910.587) / 5616.781) |
| = | 0.392673 | / | 0.371416 |
| | = | 1.0572 |
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 |
| = | (453.985 - 0 | - | 726.882) | / | 5907.081 |
| | = | -0.046198 |
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.
Autel Intelligent Technology has a M-score of -2.54 suggests that the company is unlikely to be a manipulator.
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