YASKAWA Electric Beneish M-Score Historical Data
The historical data trend for YASKAWA Electric'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.
YASKAWA Electric Beneish M-Score Chart
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YASKAWA Electric Annual Data
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Mar14 |
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Feb19 |
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Feb21 |
Feb22 |
Feb23 |
Feb24 |
| Beneish M-Score |
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-2.53 |
-2.56 |
-2.51 |
-1.95 |
-2.53 |
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YASKAWA Electric Quarterly Data
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Nov19 |
Feb20 |
May20 |
Aug20 |
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Aug24 |
| Beneish M-Score |
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-2.13 |
-2.47 |
-2.53 |
-2.62 |
-2.72 |
Competitive Comparison of YASKAWA Electric's Beneish M-Score
For the Electrical Equipment & Parts subindustry, YASKAWA Electric'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.
YASKAWA Electric's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, YASKAWA Electric's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where YASKAWA Electric's Beneish M-Score falls into.
YASKAWA Electric 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 YASKAWA Electric 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 * 0.9436 | + | 0.528 * 0.9786 | + | 0.404 * 0.9422 | + | 0.892 * 0.943 | + | 0.115 * 1.0735 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0988 | + | 4.679 * -0.022053 | - | 0.327 * 0.9718 |
| = | -2.72 |
* 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 (Aug24) TTM: | Last Year (Aug23) TTM: |
Total Receivables was 円157,391 Mil.
Revenue was 129164 + 132408 + 151328 + 135352 = 円548,252 Mil.
Gross Profit was 46602 + 46592 + 56226 + 49251 = 円198,671 Mil.
Total Current Assets was 円461,802 Mil.
Total Assets was 円706,987 Mil.
Property, Plant and Equipment(Net PPE) was 円136,453 Mil.
Depreciation, Depletion and Amortization(DDA) was 円21,362 Mil.
Selling, General, & Admin. Expense(SGA) was 円144,614 Mil.
Total Current Liabilities was 円189,353 Mil.
Long-Term Debt & Capital Lease Obligation was 円69,982 Mil.
Net Income was 8652 + 9199 + 15899 + 10560 = 円44,310 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 7178 + 15897 + 16424 + 20402 = 円59,901 Mil.
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Total Receivables was 円176,889 Mil.
Revenue was 146464 + 142513 + 148435 + 143991 = 円581,403 Mil.
Gross Profit was 52731 + 50891 + 52321 + 50230 = 円206,173 Mil.
Total Current Assets was 円449,576 Mil.
Total Assets was 円680,372 Mil.
Property, Plant and Equipment(Net PPE) was 円119,743 Mil.
Depreciation, Depletion and Amortization(DDA) was 円20,358 Mil.
Selling, General, & Admin. Expense(SGA) was 円139,575 Mil.
Total Current Liabilities was 円203,124 Mil.
Long-Term Debt & Capital Lease Obligation was 円53,687 Mil.
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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) |
| = | (157391 / 548252) | / | (176889 / 581403) |
| = | 0.287078 | / | 0.304245 |
| | = | 0.9436 |
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) |
| = | (206173 / 581403) | / | (198671 / 548252) |
| = | 0.354613 | / | 0.362372 |
| | = | 0.9786 |
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 - (461802 + 136453) / 706987) | / | (1 - (449576 + 119743) / 680372) |
| = | 0.153796 | / | 0.163224 |
| | = | 0.9422 |
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 |
| = | 548252 | / | 581403 |
| | = | 0.943 |
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)) |
| = | (20358 / (20358 + 119743)) | / | (21362 / (21362 + 136453)) |
| = | 0.145309 | / | 0.135361 |
| | = | 1.0735 |
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) |
| = | (144614 / 548252) | / | (139575 / 581403) |
| = | 0.263773 | / | 0.240066 |
| | = | 1.0988 |
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) |
| = | ((69982 + 189353) / 706987) | / | ((53687 + 203124) / 680372) |
| = | 0.366817 | / | 0.377457 |
| | = | 0.9718 |
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 |
| = | (44310 - 0 | - | 59901) | / | 706987 |
| | = | -0.022053 |
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.
YASKAWA Electric has a M-score of -2.72 suggests that the company is unlikely to be a manipulator.
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