Edifier Technology Co Beneish M-Score Historical Data
The historical data trend for Edifier Technology 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.
Edifier Technology Co Beneish M-Score Chart
|
Edifier Technology Co Annual Data
|
|
Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.13 |
-2.49 |
-2.94 |
-2.80 |
-2.18 |
|
Edifier Technology Co Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.80 |
-3.04 |
-2.67 |
-2.43 |
-2.18 |
Competitive Comparison of Edifier Technology Co's Beneish M-Score
For the Consumer Electronics subindustry, Edifier Technology 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.
Edifier Technology Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Edifier Technology Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Edifier Technology Co's Beneish M-Score falls into.
Edifier Technology 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 Edifier Technology 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 * 1.1125 | + | 0.528 * 0.9252 | + | 0.404 * 1.3532 | + | 0.892 * 1.0927 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1359 | + | 4.679 * 0.003427 | - | 0.327 * 0.9451 |
| = | -2.18 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was ¥252 Mil.
Revenue was 797.59 + 766.126 + 700.547 + 679.057 = ¥2,943 Mil.
Gross Profit was 325.643 + 293.197 + 296.735 + 272.144 = ¥1,188 Mil.
Total Current Assets was ¥2,933 Mil.
Total Assets was ¥3,533 Mil.
Property, Plant and Equipment(Net PPE) was ¥399 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥308 Mil.
Total Current Liabilities was ¥633 Mil.
Long-Term Debt & Capital Lease Obligation was ¥6 Mil.
Net Income was 110.974 + 118.251 + 110.702 + 109.308 = ¥449 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 66.514 + 110.885 + 168.108 + 91.618 = ¥437 Mil.
|
Total Receivables was ¥207 Mil.
Revenue was 831.425 + 673.457 + 645.85 + 542.904 = ¥2,694 Mil.
Gross Profit was 316.158 + 258.657 + 243.36 + 187.436 = ¥1,006 Mil.
Total Current Assets was ¥2,764 Mil.
Total Assets was ¥3,290 Mil.
Property, Plant and Equipment(Net PPE) was ¥387 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥248 Mil.
Total Current Liabilities was ¥622 Mil.
Long-Term Debt & Capital Lease Obligation was ¥8 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) |
| = | (251.5 / 2943.32) | / | (206.896 / 2693.636) |
| = | 0.085448 | / | 0.076809 |
| | = | 1.1125 |
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) |
| = | (1005.611 / 2693.636) | / | (1187.719 / 2943.32) |
| = | 0.373328 | / | 0.40353 |
| | = | 0.9252 |
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 - (2932.702 + 399.39) / 3533.402) | / | (1 - (2764.448 + 387.307) / 3290.282) |
| = | 0.056973 | / | 0.042102 |
| | = | 1.3532 |
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 |
| = | 2943.32 | / | 2693.636 |
| | = | 1.0927 |
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 + 387.307)) | / | (0 / (0 + 399.39)) |
| = | 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) |
| = | (308.224 / 2943.32) | / | (248.321 / 2693.636) |
| = | 0.10472 | / | 0.092188 |
| | = | 1.1359 |
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) |
| = | ((6.405 + 633.327) / 3533.402) | / | ((7.882 + 622.428) / 3290.282) |
| = | 0.181053 | / | 0.191567 |
| | = | 0.9451 |
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 |
| = | (449.235 - 0 | - | 437.125) | / | 3533.402 |
| | = | 0.003427 |
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.
Edifier Technology Co has a M-score of -2.18 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SZSE:002351 has been successfully added to your