Satellite Chemical Co Beneish M-Score Historical Data
The historical data trend for Satellite Chemical 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.
Satellite Chemical Co Beneish M-Score Chart
|
Satellite Chemical Co Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.92 |
-1.60 |
-1.20 |
-2.43 |
-2.82 |
|
Satellite Chemical Co 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-2.36 |
-2.23 |
-2.61 |
-2.82 |
-2.54 |
Competitive Comparison of Satellite Chemical Co's Beneish M-Score
For the Specialty Chemicals subindustry, Satellite Chemical 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.
Satellite Chemical Co's Beneish M-Score Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, Satellite Chemical Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Satellite Chemical Co's Beneish M-Score falls into.
Satellite Chemical 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 Satellite Chemical 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 * 1.2071 | + | 0.528 * 0.6542 | + | 0.404 * 1.1656 | + | 0.892 * 1.0642 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.1652 | + | 4.679 * -0.040532 | - | 0.327 * 0.917 |
| = | -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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ¥2,044 Mil.
Revenue was 8804.715 + 10605.363 + 10867.516 + 10552.161 = ¥40,830 Mil.
Gross Profit was 1907.063 + 2441.527 + 2283.045 + 1972.166 = ¥8,604 Mil.
Total Current Assets was ¥13,281 Mil.
Total Assets was ¥65,821 Mil.
Property, Plant and Equipment(Net PPE) was ¥45,424 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥278 Mil.
Total Current Liabilities was ¥13,230 Mil.
Long-Term Debt & Capital Lease Obligation was ¥25,645 Mil.
Net Income was 1022.615 + 1395.646 + 1551.054 + 1145.001 = ¥5,114 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 660.779 + 3452.041 + 1614.715 + 2054.657 = ¥7,782 Mil.
|
Total Receivables was ¥1,591 Mil.
Revenue was 9461.882 + 9272.831 + 8955.997 + 10676.254 = ¥38,367 Mil.
Gross Profit was 1532.794 + 846.855 + 667.984 + 2241.338 = ¥5,289 Mil.
Total Current Assets was ¥15,425 Mil.
Total Assets was ¥62,415 Mil.
Property, Plant and Equipment(Net PPE) was ¥41,201 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥225 Mil.
Total Current Liabilities was ¥11,086 Mil.
Long-Term Debt & Capital Lease Obligation was ¥29,114 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) |
| = | (2043.607 / 40829.755) | / | (1590.857 / 38366.964) |
| = | 0.050052 | / | 0.041464 |
| | = | 1.2071 |
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) |
| = | (5288.971 / 38366.964) | / | (8603.801 / 40829.755) |
| = | 0.137852 | / | 0.210724 |
| | = | 0.6542 |
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 - (13281.154 + 45424.211) / 65820.796) | / | (1 - (15425.161 + 41200.744) / 62414.506) |
| = | 0.108103 | / | 0.092744 |
| | = | 1.1656 |
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 |
| = | 40829.755 | / | 38366.964 |
| | = | 1.0642 |
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 + 41200.744)) | / | (0 / (0 + 45424.211)) |
| = | 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) |
| = | (278.471 / 40829.755) | / | (224.554 / 38366.964) |
| = | 0.00682 | / | 0.005853 |
| | = | 1.1652 |
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) |
| = | ((25645.234 + 13230.001) / 65820.796) | / | ((29113.837 + 11086.402) / 62414.506) |
| = | 0.590622 | / | 0.644085 |
| | = | 0.917 |
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 |
| = | (5114.316 - 0 | - | 7782.192) | / | 65820.796 |
| | = | -0.040532 |
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.
Satellite Chemical Co has a M-score of -2.54 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SZSE:002648 has been successfully added to your