PKU Healthcare Beneish M-Score Historical Data
The historical data trend for PKU Healthcare'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.
PKU Healthcare Beneish M-Score Chart
|
PKU Healthcare Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.34 |
-2.02 |
-2.31 |
-2.86 |
-2.38 |
|
PKU Healthcare Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.53 |
-2.51 |
-2.61 |
-2.38 |
-2.56 |
Competitive Comparison of PKU Healthcare's Beneish M-Score
For the Drug Manufacturers - Specialty & Generic subindustry, PKU Healthcare'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.
PKU Healthcare's Beneish M-Score Distribution in the Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, PKU Healthcare's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where PKU Healthcare's Beneish M-Score falls into.
PKU Healthcare 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 PKU Healthcare 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 * 0.9405 | + | 0.528 * 1.1771 | + | 0.404 * 1.0733 | + | 0.892 * 1.0454 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7147 | + | 4.679 * -0.058507 | - | 0.327 * 0.9001 |
| = | -2.56 |
* 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 ¥1,435 Mil.
Revenue was 493.957 + 538.325 + 571.617 + 585.144 = ¥2,189 Mil.
Gross Profit was 149.601 + 162.36 + 176.872 + 192.564 = ¥681 Mil.
Total Current Assets was ¥2,016 Mil.
Total Assets was ¥2,395 Mil.
Property, Plant and Equipment(Net PPE) was ¥163 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥417 Mil.
Total Current Liabilities was ¥896 Mil.
Long-Term Debt & Capital Lease Obligation was ¥18 Mil.
Net Income was 44.047 + -1.792 + 14.399 + 15.044 = ¥72 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -40.599 + 139.374 + 89.125 + 23.916 = ¥212 Mil.
|
Total Receivables was ¥1,460 Mil.
Revenue was 498.71 + 520.371 + 555.998 + 518.95 = ¥2,094 Mil.
Gross Profit was 180.145 + 184.166 + 210.025 + 192.913 = ¥767 Mil.
Total Current Assets was ¥2,068 Mil.
Total Assets was ¥2,457 Mil.
Property, Plant and Equipment(Net PPE) was ¥182 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥558 Mil.
Total Current Liabilities was ¥1,000 Mil.
Long-Term Debt & Capital Lease Obligation was ¥42 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) |
| = | (1435.167 / 2189.043) | / | (1459.676 / 2094.029) |
| = | 0.655614 | / | 0.697066 |
| | = | 0.9405 |
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) |
| = | (767.249 / 2094.029) | / | (681.397 / 2189.043) |
| = | 0.366398 | / | 0.311276 |
| | = | 1.1771 |
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 - (2016.303 + 162.509) / 2394.904) | / | (1 - (2068.424 + 182.174) / 2457.157) |
| = | 0.09023 | / | 0.084064 |
| | = | 1.0733 |
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 |
| = | 2189.043 | / | 2094.029 |
| | = | 1.0454 |
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 + 182.174)) | / | (0 / (0 + 162.509)) |
| = | 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) |
| = | (416.62 / 2189.043) | / | (557.647 / 2094.029) |
| = | 0.190321 | / | 0.266303 |
| | = | 0.7147 |
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) |
| = | ((17.841 + 895.826) / 2394.904) | / | ((41.772 + 999.713) / 2457.157) |
| = | 0.381505 | / | 0.423858 |
| | = | 0.9001 |
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 |
| = | (71.698 - 0 | - | 211.816) | / | 2394.904 |
| | = | -0.058507 |
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.
PKU Healthcare has a M-score of -2.56 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SZSE:000788 has been successfully added to your