Hunan Sund Technological Beneish M-Score Historical Data
The historical data trend for Hunan Sund Technological'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.
Hunan Sund Technological Beneish M-Score Chart
|
Hunan Sund Technological Annual Data
|
|
Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
- |
- |
- |
- |
-2.92 |
|
Hunan Sund Technological Quarterly Data
|
|
Dec18 |
Dec19 |
Dec20 |
Jun21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
- |
- |
- |
-2.92 |
- |
Competitive Comparison of Hunan Sund Technological's Beneish M-Score
For the Specialty Industrial Machinery subindustry, Hunan Sund Technological'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.
Hunan Sund Technological's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Hunan Sund Technological's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hunan Sund Technological's Beneish M-Score falls into.
Hunan Sund Technological 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 Hunan Sund Technological 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 * | + | 0.528 * | + | 0.404 * | + | 0.892 * | + | 0.115 * |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * | + | 4.679 * | - | 0.327 * |
| = | |
* 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 ¥350.2 Mil.
Revenue was 114.749 + 134.976 + 126.822 + 146.78 = ¥523.3 Mil.
Gross Profit was 44.986 + 53.905 + 51.766 + 52.975 = ¥203.6 Mil.
Total Current Assets was ¥1,443.7 Mil.
Total Assets was ¥1,660.6 Mil.
Property, Plant and Equipment(Net PPE) was ¥171.9 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥39.1 Mil.
Total Current Liabilities was ¥175.7 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0.0 Mil.
Net Income was 28.794 + 20.131 + 30.755 + 27.498 = ¥107.2 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0.0 Mil.
Cash Flow from Operations was 21.361 + 16.645 + 6.495 + 35.113 = ¥79.6 Mil.
|
Total Receivables was ¥0.0 Mil.
Revenue was 114.617 + 129.132 + 117.582 + 120.812 = ¥482.1 Mil.
Gross Profit was 44.873 + 47.937 + 39.854 + -6.514 = ¥126.2 Mil.
Total Current Assets was ¥0.0 Mil.
Total Assets was ¥707.9 Mil.
Property, Plant and Equipment(Net PPE) was ¥0.0 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥17.6 Mil.
Total Current Liabilities was ¥0.0 Mil.
Long-Term Debt & Capital Lease Obligation was ¥0.0 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) |
| = | (350.156 / 523.327) | / | (0 / 482.143) |
| = | 0.669096 | / | 0 |
| | = | |
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) |
| = | (126.15 / 482.143) | / | (203.632 / 523.327) |
| = | 0.261644 | / | 0.38911 |
| | = | |
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 - (1443.676 + 171.857) / 1660.552) | / | (1 - (0 + 0) / 707.854) |
| = | 0.027111 | / | 1 |
| | = | |
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 |
| = | 523.327 | / | 482.143 |
| | = | |
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 + 0)) | / | (0 / (0 + 171.857)) |
| = | | / | 0 |
| | = | |
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) |
| = | (39.087 / 523.327) | / | (17.629 / 482.143) |
| = | 0.074689 | / | 0.036564 |
| | = | |
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) |
| = | ((0.028 + 175.679) / 1660.552) | / | ((0 + 0) / 707.854) |
| = | 0.105812 | / | 0 |
| | = | |
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 |
| = | (107.178 - 0 | - | 79.614) | / | 1660.552 |
| | = | 0.016599 |
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.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
SZSE:301548 has been successfully added to your