S-Pool Beneish M-Score Historical Data
The historical data trend for S-Pool'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.
S-Pool Beneish M-Score Chart
|
S-Pool Annual Data
|
|
Trend |
Nov15 |
Nov16 |
Nov17 |
Nov18 |
Nov19 |
Nov20 |
Nov21 |
Nov22 |
Nov23 |
Nov24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-1.66 |
-1.73 |
11.85 |
8.84 |
11.53 |
|
S-Pool Quarterly Data
|
|
Nov19 |
Feb20 |
May20 |
Aug20 |
Nov20 |
Feb21 |
May21 |
Aug21 |
Nov21 |
Feb22 |
May22 |
Aug22 |
Nov22 |
Feb23 |
May23 |
Aug23 |
Nov23 |
Feb24 |
May24 |
Nov24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
15.62 |
8.84 |
12.78 |
14.18 |
11.53 |
Competitive Comparison of S-Pool's Beneish M-Score
For the Staffing & Employment Services subindustry, S-Pool'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.
S-Pool's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, S-Pool's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where S-Pool's Beneish M-Score falls into.
S-Pool 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 S-Pool 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 * 0.0893 | + | 0.528 * 4.5594 | + | 0.404 * 0.6903 | + | 0.892 * 15.7526 | + | 0.115 * 1.737 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.0678 | + | 4.679 * -0.035302 | - | 0.327 * 1.435 |
| = | 11.53 |
* 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 (Nov24) TTM: | Last Year (Aug23) TTM: |
Total Receivables was 円4,223 Mil.
Revenue was 0 + 6435 + 5658 + 6432 = 円18,525 Mil.
Gross Profit was 0 + 2359 + 1655 + 2281 = 円6,295 Mil.
Total Current Assets was 円8,777 Mil.
Total Assets was 円39,714 Mil.
Property, Plant and Equipment(Net PPE) was 円29,383 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,623 Mil.
Selling, General, & Admin. Expense(SGA) was 円3,284 Mil.
Total Current Liabilities was 円11,527 Mil.
Long-Term Debt & Capital Lease Obligation was 円16,604 Mil.
Net Income was 0 + 423 + 261 + 345 = 円1,029 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 0 + 1611 + 820 + 0 = 円2,431 Mil.
|
Total Receivables was 円3,003 Mil.
Revenue was 6220 + 7043 + 6089 + -18176 = 円1,176 Mil.
Gross Profit was 2113 + 2659 + 1854 + -4804 = 円1,822 Mil.
Total Current Assets was 円6,731 Mil.
Total Assets was 円19,600 Mil.
Property, Plant and Equipment(Net PPE) was 円11,758 Mil.
Depreciation, Depletion and Amortization(DDA) was 円1,176 Mil.
Selling, General, & Admin. Expense(SGA) was 円3,073 Mil.
Total Current Liabilities was 円6,495 Mil.
Long-Term Debt & Capital Lease Obligation was 円3,180 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) |
| = | (4223 / 18525) | / | (3003 / 1176) |
| = | 0.227962 | / | 2.553571 |
| | = | 0.0893 |
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) |
| = | (1822 / 1176) | / | (6295 / 18525) |
| = | 1.54932 | / | 0.339811 |
| | = | 4.5594 |
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 - (8777 + 29383) / 39714) | / | (1 - (6731 + 11758) / 19600) |
| = | 0.03913 | / | 0.056684 |
| | = | 0.6903 |
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 |
| = | 18525 | / | 1176 |
| | = | 15.7526 |
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)) |
| = | (1176 / (1176 + 11758)) | / | (1623 / (1623 + 29383)) |
| = | 0.090923 | / | 0.052345 |
| | = | 1.737 |
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) |
| = | (3284 / 18525) | / | (3073 / 1176) |
| = | 0.177274 | / | 2.613095 |
| | = | 0.0678 |
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) |
| = | ((16604 + 11527) / 39714) | / | ((3180 + 6495) / 19600) |
| = | 0.70834 | / | 0.493622 |
| | = | 1.435 |
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 |
| = | (1029 - 0 | - | 2431) | / | 39714 |
| | = | -0.035302 |
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.
S-Pool has a M-score of 11.53 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSE:2471 has been successfully added to your