Shenzhen Leaguer Co Beneish M-Score Historical Data
The historical data trend for Shenzhen Leaguer 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.
Shenzhen Leaguer Co Beneish M-Score Chart
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Shenzhen Leaguer 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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-2.61 |
-2.21 |
-1.61 |
-2.17 |
-2.27 |
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Shenzhen Leaguer 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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-2.00 |
-2.15 |
-2.13 |
-2.27 |
-2.23 |
Competitive Comparison of Shenzhen Leaguer Co's Beneish M-Score
For the Packaging & Containers subindustry, Shenzhen Leaguer 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.
Shenzhen Leaguer Co's Beneish M-Score Distribution in the Packaging & Containers Industry
For the Packaging & Containers industry and Consumer Cyclical sector, Shenzhen Leaguer Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Shenzhen Leaguer Co's Beneish M-Score falls into.
Shenzhen Leaguer 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 Shenzhen Leaguer 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 * 1.002 | + | 0.528 * 1.2678 | + | 0.404 * 1.0304 | + | 0.892 * 0.8848 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0338 | + | 4.679 * 0.04443 | - | 0.327 * 1.0196 |
| = | -2.23 |
* 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 ¥925 Mil.
Revenue was 443.975 + 757.829 + 632.889 + 563.352 = ¥2,398 Mil.
Gross Profit was 72.87 + 220.683 + 142.755 + 125.368 = ¥562 Mil.
Total Current Assets was ¥7,026 Mil.
Total Assets was ¥15,664 Mil.
Property, Plant and Equipment(Net PPE) was ¥2,177 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥162 Mil.
Total Current Liabilities was ¥2,231 Mil.
Long-Term Debt & Capital Lease Obligation was ¥4,301 Mil.
Net Income was -36.091 + 38.86 + 66.867 + 173.186 = ¥243 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was -164.848 + -123.157 + -137.243 + -27.896 = ¥-453 Mil.
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Total Receivables was ¥1,044 Mil.
Revenue was 561.737 + 916.523 + 574.284 + 657.663 = ¥2,710 Mil.
Gross Profit was 138.734 + 337.13 + 140.786 + 188.126 = ¥805 Mil.
Total Current Assets was ¥6,810 Mil.
Total Assets was ¥15,030 Mil.
Property, Plant and Equipment(Net PPE) was ¥2,202 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥177 Mil.
Total Current Liabilities was ¥2,036 Mil.
Long-Term Debt & Capital Lease Obligation was ¥4,110 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) |
| = | (925.208 / 2398.045) | / | (1043.608 / 2710.207) |
| = | 0.385818 | / | 0.385066 |
| | = | 1.002 |
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) |
| = | (804.776 / 2710.207) | / | (561.676 / 2398.045) |
| = | 0.296943 | / | 0.234222 |
| | = | 1.2678 |
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 - (7025.527 + 2177.139) / 15664.359) | / | (1 - (6810.185 + 2202.181) / 15029.521) |
| = | 0.412509 | / | 0.400356 |
| | = | 1.0304 |
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 |
| = | 2398.045 | / | 2710.207 |
| | = | 0.8848 |
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 + 2202.181)) | / | (0 / (0 + 2177.139)) |
| = | 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) |
| = | (162.163 / 2398.045) | / | (177.282 / 2710.207) |
| = | 0.067623 | / | 0.065413 |
| | = | 1.0338 |
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) |
| = | ((4301.021 + 2230.699) / 15664.359) | / | ((4110.411 + 2036.19) / 15029.521) |
| = | 0.41698 | / | 0.408969 |
| | = | 1.0196 |
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 |
| = | (242.822 - 0 | - | -453.144) | / | 15664.359 |
| | = | 0.04443 |
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.
Shenzhen Leaguer Co has a M-score of -2.23 suggests that the company is unlikely to be a manipulator.
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