Pss Co Beneish M-Score Historical Data
The historical data trend for Pss 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.
Pss Co Beneish M-Score Chart
|
Pss Co Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
-3.59 |
-3.75 |
-3.73 |
|
Pss Co Semi-Annual Data
|
|
Dec19 |
Dec20 |
Jun21 |
Dec21 |
Jun22 |
Dec22 |
Jun23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
-3.59 |
- |
-3.75 |
- |
-3.73 |
Competitive Comparison of Pss Co's Beneish M-Score
For the Business Equipment & Supplies subindustry, Pss 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.
Pss Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Pss Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Pss Co's Beneish M-Score falls into.
Pss 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 Pss 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 * 0.9162 | + | 0.528 * 0.8173 | + | 0.404 * 0.8659 | + | 0.892 * 1.2704 | + | 0.115 * 1.0086 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.069 | + | 4.679 * -0.26718 | - | 0.327 * 1.0212 |
| = | -3.73 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was NT$215 Mil.
Revenue was NT$4,273 Mil.
Gross Profit was NT$1,030 Mil.
Total Current Assets was NT$1,265 Mil.
Total Assets was NT$7,261 Mil.
Property, Plant and Equipment(Net PPE) was NT$4,976 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$1,842 Mil.
Selling, General, & Admin. Expense(SGA) was NT$251 Mil.
Total Current Liabilities was NT$2,147 Mil.
Long-Term Debt & Capital Lease Obligation was NT$2,791 Mil.
Net Income was NT$548 Mil.
Gross Profit was NT$0 Mil.
Cash Flow from Operations was NT$2,488 Mil.
|
Total Receivables was NT$185 Mil.
Revenue was NT$3,364 Mil.
Gross Profit was NT$662 Mil.
Total Current Assets was NT$934 Mil.
Total Assets was NT$5,968 Mil.
Property, Plant and Equipment(Net PPE) was NT$4,066 Mil.
Depreciation, Depletion and Amortization(DDA) was NT$1,523 Mil.
Selling, General, & Admin. Expense(SGA) was NT$185 Mil.
Total Current Liabilities was NT$1,771 Mil.
Long-Term Debt & Capital Lease Obligation was NT$2,204 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) |
| = | (215.265 / 4273.123) | / | (184.951 / 3363.619) |
| = | 0.050377 | / | 0.054986 |
| | = | 0.9162 |
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) |
| = | (662.467 / 3363.619) | / | (1029.767 / 4273.123) |
| = | 0.196951 | / | 0.240987 |
| | = | 0.8173 |
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 - (1265.443 + 4975.756) / 7261.069) | / | (1 - (933.968 + 4065.99) / 5968.072) |
| = | 0.140457 | / | 0.162216 |
| | = | 0.8659 |
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 |
| = | 4273.123 | / | 3363.619 |
| | = | 1.2704 |
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)) |
| = | (1523.226 / (1523.226 + 4065.99)) | / | (1842.246 / (1842.246 + 4975.756)) |
| = | 0.272529 | / | 0.270203 |
| | = | 1.0086 |
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) |
| = | (250.74 / 4273.123) | / | (184.638 / 3363.619) |
| = | 0.058678 | / | 0.054893 |
| | = | 1.069 |
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) |
| = | ((2791.317 + 2146.791) / 7261.069) | / | ((2203.694 + 1770.743) / 5968.072) |
| = | 0.68008 | / | 0.66595 |
| | = | 1.0212 |
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 |
| = | (548.425 - 0 | - | 2488.438) | / | 7261.069 |
| | = | -0.26718 |
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.
Pss Co has a M-score of -3.73 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TPE:6914 has been successfully added to your