Lily Textile Co (TPE:1443) Beneish M-Score : -2.81 (As of Dec. 14, 2024)

View and export this data going back to 1990. Start your Free Trial

What is Lily Textile Co Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -2.81 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Lily Textile Co's Beneish M-Score or its related term are showing as below:

TPE:1443' s Beneish M-Score Range Over the Past 10 Years
Min: -12.2 Med: -2.64 Max: 2.51
Current: -2.81

During the past 13 years, the highest Beneish M-Score of Lily Textile Co was 2.51. The lowest was -12.20. And the median was -2.64.

Lily Textile Co Beneish M-Score Historical Data

The historical data trend for Lily Textile 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.

* Premium members only.

Lily Textile Co Beneish M-Score Chart

Lily Textile Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

Get a 7-Day Free Trial

-2.62

-2.30

-2.27

-3.01

Lily Textile 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															-3.01	-3.01	-2.83	-2.65	-2.81

Competitive Comparison of Lily Textile Co's Beneish M-Score

For the Integrated Freight & Logistics subindustry, Lily Textile 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.

Lily Textile Co's Beneish M-Score Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Lily Textile Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Lily Textile Co's Beneish M-Score falls into.

Lily Textile 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 Lily Textile Co for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.6064

0.528 * 0.9805

0.404 * 0.9605

0.892 * 1.1412

0.115 * 1.0415

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.7958

4.679 * -0.023897

0.327 * 0.9873

-2.81

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was NT$136.4 Mil.
Revenue was 240.587 + 216.886 + 213.523 + 210.38 = NT$881.4 Mil.
Gross Profit was 119.544 + 106.285 + 101.493 + 93.858 = NT$421.2 Mil.
Total Current Assets was NT$551.9 Mil.
Total Assets was NT$7,581.9 Mil.
Property, Plant and Equipment(Net PPE) was NT$5,420.6 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$109.1 Mil.
Selling, General, & Admin. Expense(SGA) was NT$100.2 Mil.
Total Current Liabilities was NT$3,117.4 Mil.
Long-Term Debt & Capital Lease Obligation was NT$2,259.2 Mil.
Net Income was 57.474 + 55.688 + 98.08 + 4.672 = NT$215.9 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = NT$0.0 Mil.
Cash Flow from Operations was 157.564 + 75.686 + 94.896 + 68.955 = NT$397.1 Mil.

Total Receivables was NT$197.1 Mil.
Revenue was 223.506 + 180.642 + 166.227 + 201.98 = NT$772.4 Mil.
Gross Profit was 97.038 + 87.759 + 82.779 + 94.322 = NT$361.9 Mil.
Total Current Assets was NT$556.9 Mil.
Total Assets was NT$6,912.0 Mil.
Property, Plant and Equipment(Net PPE) was NT$4,827.6 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$101.3 Mil.
Selling, General, & Admin. Expense(SGA) was NT$110.4 Mil.
Total Current Liabilities was NT$3,117.2 Mil.
Long-Term Debt & Capital Lease Obligation was NT$1,847.2 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)
	=	(136.383 / 881.376)	/	(197.077 / 772.355)
	=	0.154739	/	0.255164
	=	0.6064

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)
	=	(361.898 / 772.355)	/	(421.18 / 881.376)
	=	0.468564	/	0.477866
	=	0.9805

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 - (551.884 + 5420.576) / 7581.854)	/	(1 - (556.904 + 4827.594) / 6911.972)
	=	0.212269	/	0.22099
	=	0.9605

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
	=	881.376	/	772.355
	=	1.1412

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))
	=	(101.326 / (101.326 + 4827.594))	/	(109.138 / (109.138 + 5420.576))
	=	0.020557	/	0.019737
	=	1.0415

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)
	=	(100.24 / 881.376)	/	(110.385 / 772.355)
	=	0.113731	/	0.14292
	=	0.7958

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)
	=	((2259.152 + 3117.433) / 7581.854)	/	((1847.241 + 3117.151) / 6911.972)
	=	0.709139	/	0.718231
	=	0.9873

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
	=	(215.914 - 0	-	397.101)	/	7581.854
	=	-0.023897

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.

Lily Textile Co has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.

Lily Textile Co Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Lily Textile Co's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Lily Textile Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Lily Textile Co Ltd (TPE:1443) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 70, Xining North Road, 6th Floor, Datong District, Taipei, TWN

Website

https://www.lilydc.com.tw

Lily Textile Co Ltd operates in the textile manufacturing industry. The businesses of the company include warehousing leasing and tallying, and the trading, bidding and agency business of various products of raw cotton materials are retained as supplementary business. The operating segments of the company are; the Sales segment which represents the sales and agency business of various cloth products and other commodities, and the Logistics segment which includes warehouse leasing, tallying and processing business. The majority of the company's revenue is derived from the logistics segment.

Lily Textile Co Headlines

No Headlines