Huuuge Beneish M-Score Historical Data
The historical data trend for Huuuge'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.
Huuuge Beneish M-Score Chart
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Huuuge Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-1.96 |
-3.30 |
-2.26 |
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Huuuge Quarterly Data
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Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
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-2.85 |
-2.26 |
-2.51 |
-2.69 |
-2.79 |
Competitive Comparison of Huuuge's Beneish M-Score
For the Electronic Gaming & Multimedia subindustry, Huuuge'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.
Huuuge's Beneish M-Score Distribution in the Interactive Media Industry
For the Interactive Media industry and Communication Services sector, Huuuge's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Huuuge's Beneish M-Score falls into.
Huuuge 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 Huuuge 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 * 0.8317 | + | 0.528 * 0.9798 | + | 0.404 * 1.1831 | + | 0.892 * 0.8986 | + | 0.115 * 0.9056 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2418 | + | 4.679 * -0.030914 | - | 0.327 * 0.7899 |
| = | -2.79 |
* 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 zł103 Mil.
Revenue was 239.323 + 258.062 + 272.829 + 290.581 = zł1,061 Mil.
Gross Profit was 174.101 + 186.269 + 195.198 + 206.983 = zł763 Mil.
Total Current Assets was zł635 Mil.
Total Assets was zł761 Mil.
Property, Plant and Equipment(Net PPE) was zł32 Mil.
Depreciation, Depletion and Amortization(DDA) was zł37 Mil.
Selling, General, & Admin. Expense(SGA) was zł301 Mil.
Total Current Liabilities was zł105 Mil.
Long-Term Debt & Capital Lease Obligation was zł19 Mil.
Net Income was 62.167 + 61.389 + 67.381 + 79.093 = zł270 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = zł0 Mil.
Cash Flow from Operations was 59.181 + 74.632 + 58.709 + 101.045 = zł294 Mil.
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Total Receivables was zł138 Mil.
Revenue was 289.946 + 281.844 + 292.264 + 316.412 = zł1,180 Mil.
Gross Profit was 206.018 + 199.117 + 206.164 + 220.153 = zł831 Mil.
Total Current Assets was zł666 Mil.
Total Assets was zł790 Mil.
Property, Plant and Equipment(Net PPE) was zł42 Mil.
Depreciation, Depletion and Amortization(DDA) was zł40 Mil.
Selling, General, & Admin. Expense(SGA) was zł270 Mil.
Total Current Liabilities was zł134 Mil.
Long-Term Debt & Capital Lease Obligation was zł29 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) |
| = | (103.066 / 1060.795) | / | (137.903 / 1180.466) |
| = | 0.097159 | / | 0.116821 |
| | = | 0.8317 |
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) |
| = | (831.452 / 1180.466) | / | (762.551 / 1060.795) |
| = | 0.704342 | / | 0.718849 |
| | = | 0.9798 |
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 - (635.362 + 32.475) / 761.366) | / | (1 - (666.065 + 42.308) / 790.444) |
| = | 0.122844 | / | 0.103829 |
| | = | 1.1831 |
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 |
| = | 1060.795 | / | 1180.466 |
| | = | 0.8986 |
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)) |
| = | (39.881 / (39.881 + 42.308)) | / | (37.49 / (37.49 + 32.475)) |
| = | 0.485235 | / | 0.535839 |
| | = | 0.9056 |
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) |
| = | (301.206 / 1060.795) | / | (269.912 / 1180.466) |
| = | 0.283944 | / | 0.228649 |
| | = | 1.2418 |
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) |
| = | ((18.967 + 104.83) / 761.366) | / | ((29.183 + 133.524) / 790.444) |
| = | 0.162599 | / | 0.205843 |
| | = | 0.7899 |
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 |
| = | (270.03 - 0 | - | 293.567) | / | 761.366 |
| | = | -0.030914 |
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.
Huuuge has a M-score of -2.79 suggests that the company is unlikely to be a manipulator.
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