People Co Beneish M-Score Historical Data
The historical data trend for People 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.
People Co Beneish M-Score Chart
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People Co Annual Data
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Jan15 |
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Jan20 |
Jan21 |
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Jan23 |
Jan24 |
| Beneish M-Score |
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-2.39 |
-1.42 |
-1.89 |
-1.84 |
-1.89 |
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People Co Quarterly Data
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Apr19 |
Jul19 |
Oct19 |
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Jan24 |
| Beneish M-Score |
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-1.84 |
-1.67 |
-2.61 |
-1.86 |
-1.89 |
Competitive Comparison of People Co's Beneish M-Score
For the Leisure subindustry, People 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.
People Co's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, People Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where People Co's Beneish M-Score falls into.
People 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 People 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 * 1.3032 | + | 0.528 * 0.7957 | + | 0.404 * 1.0485 | + | 0.892 * 0.7191 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0975 | + | 4.679 * 0.113051 | - | 0.327 * 0.5924 |
| = | -1.89 |
* 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 (Jan24) TTM: | Last Year (Jan23) TTM: |
Total Receivables was 円371 Mil.
Revenue was 960.437 + 1998.101 + 1383.569 + 1010.74 = 円5,353 Mil.
Gross Profit was 363.533 + 603.963 + 387.755 + 282.207 = 円1,637 Mil.
Total Current Assets was 円2,488 Mil.
Total Assets was 円2,768 Mil.
Property, Plant and Equipment(Net PPE) was 円51 Mil.
Depreciation, Depletion and Amortization(DDA) was 円0 Mil.
Selling, General, & Admin. Expense(SGA) was 円486 Mil.
Total Current Liabilities was 円373 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 Mil.
Net Income was 26.237 + 219.8 + 63.189 + 3.653 = 円313 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = 円0 Mil.
Cash Flow from Operations was 0 + 0 + 0 + 0 = 円0 Mil.
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Total Receivables was 円396 Mil.
Revenue was 1140.978 + 2182.448 + 2700.482 + 1419.952 = 円7,444 Mil.
Gross Profit was 292.346 + 507.78 + 617.997 + 393.702 = 円1,812 Mil.
Total Current Assets was 円2,686 Mil.
Total Assets was 円3,014 Mil.
Property, Plant and Equipment(Net PPE) was 円90 Mil.
Depreciation, Depletion and Amortization(DDA) was 円0 Mil.
Selling, General, & Admin. Expense(SGA) was 円615 Mil.
Total Current Liabilities was 円685 Mil.
Long-Term Debt & Capital Lease Obligation was 円0 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) |
| = | (371.379 / 5352.847) | / | (396.314 / 7443.86) |
| = | 0.06938 | / | 0.05324 |
| | = | 1.3032 |
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) |
| = | (1811.825 / 7443.86) | / | (1637.458 / 5352.847) |
| = | 0.243399 | / | 0.305904 |
| | = | 0.7957 |
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 - (2487.866 + 50.974) / 2767.58) | / | (1 - (2685.971 + 90.019) / 3013.543) |
| = | 0.08265 | / | 0.078828 |
| | = | 1.0485 |
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 |
| = | 5352.847 | / | 7443.86 |
| | = | 0.7191 |
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)) |
| = | (0 / (0 + 90.019)) | / | (0 / (0 + 50.974)) |
| = | 0 | / | 0 |
| | = | 1 |
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) |
| = | (485.517 / 5352.847) | / | (615.205 / 7443.86) |
| = | 0.090703 | / | 0.082646 |
| | = | 1.0975 |
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 + 372.647) / 2767.58) | / | ((0 + 684.981) / 3013.543) |
| = | 0.134647 | / | 0.227301 |
| | = | 0.5924 |
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 |
| = | (312.879 - 0 | - | 0) | / | 2767.58 |
| | = | 0.113051 |
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.
People Co has a M-score of -1.89 suggests that the company is unlikely to be a manipulator.
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