Huatu Cendes Co Beneish M-Score Historical Data
The historical data trend for Huatu Cendes 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.
Huatu Cendes Co Beneish M-Score Chart
|
Huatu Cendes Co Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.47 |
-1.76 |
-0.86 |
-2.09 |
-5.12 |
|
Huatu Cendes Co Quarterly Data
|
|
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-1.64 |
-5.12 |
-1.41 |
6.46 |
13.50 |
Competitive Comparison of Huatu Cendes Co's Beneish M-Score
For the Engineering & Construction subindustry, Huatu Cendes 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.
Huatu Cendes Co's Beneish M-Score Distribution in the Construction Industry
For the Construction industry and Industrials sector, Huatu Cendes Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Huatu Cendes Co's Beneish M-Score falls into.
Huatu Cendes 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 Huatu Cendes 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 * 0.0741 | + | 0.528 * 0.4095 | + | 0.404 * 0.2937 | + | 0.892 * 27.8097 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 9.4649 | + | 4.679 * -0.528832 | - | 0.327 * 8.8033 |
| = | 13.50 |
* 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 ¥243 Mil.
Revenue was 624.846 + 810.565 + 695.465 + 202.745 = ¥2,334 Mil.
Gross Profit was 382.279 + 463.949 + 387.633 + 45.621 = ¥1,279 Mil.
Total Current Assets was ¥1,269 Mil.
Total Assets was ¥1,996 Mil.
Property, Plant and Equipment(Net PPE) was ¥627 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥1,103 Mil.
Total Current Liabilities was ¥1,285 Mil.
Long-Term Debt & Capital Lease Obligation was ¥341 Mil.
Net Income was 7.831 + 49.041 + 72.558 + -88.265 = ¥41 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0 Mil.
Cash Flow from Operations was 159.107 + 396.824 + 336.745 + 203.856 = ¥1,097 Mil.
|
Total Receivables was ¥118 Mil.
Revenue was 12.338 + 16.897 + 15.138 + 39.541 = ¥84 Mil.
Gross Profit was 0.91 + 4.169 + 2.331 + 11.429 = ¥19 Mil.
Total Current Assets was ¥231 Mil.
Total Assets was ¥328 Mil.
Property, Plant and Equipment(Net PPE) was ¥42 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥4 Mil.
Total Current Liabilities was ¥30 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0 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) |
| = | (242.804 / 2333.621) | / | (117.82 / 83.914) |
| = | 0.104046 | / | 1.404057 |
| | = | 0.0741 |
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) |
| = | (18.839 / 83.914) | / | (1279.482 / 2333.621) |
| = | 0.224504 | / | 0.548282 |
| | = | 0.4095 |
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 - (1269.348 + 627.099) / 1995.658) | / | (1 - (230.875 + 41.809) / 328.248) |
| = | 0.049713 | / | 0.169274 |
| | = | 0.2937 |
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 |
| = | 2333.621 | / | 83.914 |
| | = | 27.8097 |
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 + 41.809)) | / | (0 / (0 + 627.099)) |
| = | 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) |
| = | (1103.143 / 2333.621) | / | (4.191 / 83.914) |
| = | 0.472717 | / | 0.049944 |
| | = | 9.4649 |
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) |
| = | ((341.093 + 1285.374) / 1995.658) | / | ((0.49 + 29.899) / 328.248) |
| = | 0.815003 | / | 0.092579 |
| | = | 8.8033 |
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 |
| = | (41.165 - 0 | - | 1096.532) | / | 1995.658 |
| | = | -0.528832 |
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.
Huatu Cendes Co has a M-score of 13.50 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SZSE:300492 has been successfully added to your