Elematec Beneish M-Score Historical Data
The historical data trend for Elematec'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.
Elematec Beneish M-Score Chart
|
Elematec Annual Data
|
|
Trend |
Mar15 |
Mar16 |
Mar17 |
Mar18 |
Mar19 |
Mar20 |
Mar21 |
Mar22 |
Mar23 |
Mar24 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-2.44 |
-2.49 |
-2.40 |
-3.09 |
-3.01 |
|
Elematec 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
|
|
|
|
|
|
|
|
|
|
|
|
|
-4.35 |
-3.65 |
-3.01 |
-2.95 |
-2.14 |
Competitive Comparison of Elematec's Beneish M-Score
For the Electronic Components subindustry, Elematec'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.
Elematec's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Elematec's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Elematec's Beneish M-Score falls into.
Elematec 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 Elematec 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 * 1.0748 | + | 0.528 * 0.9136 | + | 0.404 * 1.1963 | + | 0.892 * 0.8711 | + | 0.115 * 1.3304 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8203 | + | 4.679 * 0.051408 | - | 0.327 * 0.8569 |
| = | -2.14 |
* 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 円52,551 Mil.
Revenue was 50854 + 47506 + 44440 + 47808 = 円190,608 Mil.
Gross Profit was 6489 + 6294 + 5842 + 5926 = 円24,551 Mil.
Total Current Assets was 円105,448 Mil.
Total Assets was 円114,301 Mil.
Property, Plant and Equipment(Net PPE) was 円5,182 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,057 Mil.
Selling, General, & Admin. Expense(SGA) was 円15,532 Mil.
Total Current Liabilities was 円41,554 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 1890 + 1178 + 1460 + 964 = 円5,492 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was -4022 + -187 + 4230 + -405 = 円-384 Mil.
|
Total Receivables was 円56,129 Mil.
Revenue was 51345 + 50757 + 54966 + 61738 = 円218,806 Mil.
Gross Profit was 6395 + 6087 + 5951 + 7314 = 円25,747 Mil.
Total Current Assets was 円115,052 Mil.
Total Assets was 円121,876 Mil.
Property, Plant and Equipment(Net PPE) was 円3,552 Mil.
Depreciation, Depletion and Amortization(DDA) was 円2,159 Mil.
Selling, General, & Admin. Expense(SGA) was 円21,735 Mil.
Total Current Liabilities was 円51,709 Mil.
Long-Term Debt & Capital Lease Obligation was 円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) |
| = | (52551 / 190608) | / | (56129 / 218806) |
| = | 0.275702 | / | 0.256524 |
| | = | 1.0748 |
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) |
| = | (25747 / 218806) | / | (24551 / 190608) |
| = | 0.11767 | / | 0.128804 |
| | = | 0.9136 |
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 - (105448 + 5182) / 114301) | / | (1 - (115052 + 3552) / 121876) |
| = | 0.032117 | / | 0.026847 |
| | = | 1.1963 |
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 |
| = | 190608 | / | 218806 |
| | = | 0.8711 |
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)) |
| = | (2159 / (2159 + 3552)) | / | (2057 / (2057 + 5182)) |
| = | 0.378042 | / | 0.284155 |
| | = | 1.3304 |
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) |
| = | (15532 / 190608) | / | (21735 / 218806) |
| = | 0.081487 | / | 0.099335 |
| | = | 0.8203 |
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 + 41554) / 114301) | / | ((0 + 51709) / 121876) |
| = | 0.363549 | / | 0.424275 |
| | = | 0.8569 |
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 |
| = | (5492 - 0 | - | -384) | / | 114301 |
| | = | 0.051408 |
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.
Elematec has a M-score of -2.14 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
TSE:2715 has been successfully added to your