RYUKYU ASTEEDA Sports Club Co (TSE:7364) Beneish M-Score : -2.35 (As of Jun. 21, 2024)

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What is RYUKYU ASTEEDA Sports Club 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 -2.35 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for RYUKYU ASTEEDA Sports Club Co's Beneish M-Score or its related term are showing as below:

TSE:7364' s Beneish M-Score Range Over the Past 10 Years
Min: -4.55 Med: -2.35 Max: -1.52
Current: -2.35

During the past 5 years, the highest Beneish M-Score of RYUKYU ASTEEDA Sports Club Co was -1.52. The lowest was -4.55. And the median was -2.35.

RYUKYU ASTEEDA Sports Club Co Beneish M-Score Historical Data

The historical data trend for RYUKYU ASTEEDA Sports Club 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.

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RYUKYU ASTEEDA Sports Club Co Beneish M-Score Chart

RYUKYU ASTEEDA Sports Club Co Annual Data

Trend

Dec18

Dec19

Dec21

Dec22

Dec23

Beneish M-Score

-1.52

-4.55

-2.35

RYUKYU ASTEEDA Sports Club Co Semi-Annual Data
	Dec18	Dec19	Jun20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Beneish M-Score	Get a 7-Day Free Trial				-1.52	-	-4.55	-	-2.35

Competitive Comparison of RYUKYU ASTEEDA Sports Club Co's Beneish M-Score

For the Entertainment subindustry, RYUKYU ASTEEDA Sports Club 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.

RYUKYU ASTEEDA Sports Club Co's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, RYUKYU ASTEEDA Sports Club Co's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where RYUKYU ASTEEDA Sports Club Co's Beneish M-Score falls into.

RYUKYU ASTEEDA Sports Club 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 RYUKYU ASTEEDA Sports Club 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 * 1.5441

0.528 * 0.9363

0.404 * 0.8281

0.892 * 1.1583

0.115 * 2.9958

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1

4.679 * -0.115234

0.327 * 1.3044

-2.35

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was 円121.7 Mil.
Revenue was 円579.2 Mil.
Gross Profit was 円248.1 Mil.
Total Current Assets was 円260.6 Mil.
Total Assets was 円286.2 Mil.
Property, Plant and Equipment(Net PPE) was 円1.0 Mil.
Depreciation, Depletion and Amortization(DDA) was 円0.5 Mil.
Selling, General, & Admin. Expense(SGA) was 円0.0 Mil.
Total Current Liabilities was 円355.3 Mil.
Long-Term Debt & Capital Lease Obligation was 円169.0 Mil.
Net Income was 円-95.7 Mil.
Gross Profit was 円0.0 Mil.
Cash Flow from Operations was 円-62.7 Mil.

Total Receivables was 円68.1 Mil.
Revenue was 円500.0 Mil.
Gross Profit was 円200.6 Mil.
Total Current Assets was 円314.7 Mil.
Total Assets was 円351.2 Mil.
Property, Plant and Equipment(Net PPE) was 円0.2 Mil.
Depreciation, Depletion and Amortization(DDA) was 円12.1 Mil.
Selling, General, & Admin. Expense(SGA) was 円0.0 Mil.
Total Current Liabilities was 円289.9 Mil.
Long-Term Debt & Capital Lease Obligation was 円203.3 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)
	=	(121.743 / 579.196)	/	(68.066 / 500.028)
	=	0.210193	/	0.136124
	=	1.5441

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)
	=	(200.556 / 500.028)	/	(248.107 / 579.196)
	=	0.40109	/	0.428364
	=	0.9363

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 - (260.585 + 1.044) / 286.158)	/	(1 - (314.676 + 0.159) / 351.186)
	=	0.085718	/	0.103509
	=	0.8281

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
	=	579.196	/	500.028
	=	1.1583

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))
	=	(12.132 / (12.132 + 0.159))	/	(0.513 / (0.513 + 1.044))
	=	0.987064	/	0.32948
	=	2.9958

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)
	=	(0 / 579.196)	/	(0 / 500.028)
	=	0	/	0
	=	1

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)
	=	((168.961 + 355.309) / 286.158)	/	((203.313 + 289.93) / 351.186)
	=	1.8321	/	1.404506
	=	1.3044

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
	=	(-95.66 - 0	-	-62.685)	/	286.158
	=	-0.115234

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.

RYUKYU ASTEEDA Sports Club Co has a M-score of -2.35 suggests that the company is unlikely to be a manipulator.

RYUKYU ASTEEDA Sports Club Co Beneish M-Score Related Terms

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RYUKYU ASTEEDA Sports Club Co (TSE:7364) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » RYUKYU ASTEEDA Sports Club Co Ltd (TSE:7364) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

1112-1 Minamiuebaru, Ocean View Matsuyama II, B1 Floor, Nakagamigun Nakagusukuson, Okinawa, JPN, 901-2424

Website

https://www.ryukyuasteeda.jp

RYUKYU ASTEEDA Sports Club Co Ltd is the provider of regional sports club management services. It is engaged in the management of triathlon teams, sports bar, table tennis class, management of table tennis product sales and others.

RYUKYU ASTEEDA Sports Club Co (TSE:7364) Headlines

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