Wisynco Group Beneish M-Score Historical Data
The historical data trend for Wisynco Group'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.
Wisynco Group Beneish M-Score Chart
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Wisynco Group Annual Data
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Trend |
Jun17 |
Jun18 |
Jun19 |
Jun20 |
Jun21 |
Jun22 |
Jun23 |
Jun24 |
| Beneish M-Score |
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-2.70 |
-2.66 |
-1.94 |
-2.39 |
-2.11 |
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Wisynco Group Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
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Mar23 |
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Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.39 |
-2.19 |
-2.11 |
-2.58 |
-2.76 |
Competitive Comparison of Wisynco Group's Beneish M-Score
For the Beverages - Non-Alcoholic subindustry, Wisynco Group'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.
Wisynco Group's Beneish M-Score Distribution in the Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Wisynco Group's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Wisynco Group's Beneish M-Score falls into.
Wisynco Group 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 Wisynco Group 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 * 0.8951 | + | 0.528 * 0.9949 | + | 0.404 * 0.8033 | + | 0.892 * 1.0876 | + | 0.115 * 1.2357 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0944 | + | 4.679 * -0.050596 | - | 0.327 * 0.8482 |
| = | -2.76 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was JMD5,687 Mil.
Revenue was 14205.44 + 14644.032 + 14185.315 + 13100.34 = JMD56,135 Mil.
Gross Profit was 4675.497 + 5323.278 + 4775.135 + 4394.004 = JMD19,168 Mil.
Total Current Assets was JMD16,963 Mil.
Total Assets was JMD36,644 Mil.
Property, Plant and Equipment(Net PPE) was JMD16,599 Mil.
Depreciation, Depletion and Amortization(DDA) was JMD1,431 Mil.
Selling, General, & Admin. Expense(SGA) was JMD13,888 Mil.
Total Current Liabilities was JMD7,092 Mil.
Long-Term Debt & Capital Lease Obligation was JMD1,898 Mil.
Net Income was 990.932 + 1507.772 + 1239.515 + 1177.408 = JMD4,916 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = JMD0 Mil.
Cash Flow from Operations was 518.625 + 1116.622 + 3474.594 + 1659.836 = JMD6,770 Mil.
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Total Receivables was JMD5,842 Mil.
Revenue was 13251.987 + 13732.204 + 12658.867 + 11972.35 = JMD51,615 Mil.
Gross Profit was 4409.116 + 4806.116 + 4171.688 + 4147.096 = JMD17,534 Mil.
Total Current Assets was JMD20,222 Mil.
Total Assets was JMD33,747 Mil.
Property, Plant and Equipment(Net PPE) was JMD9,992 Mil.
Depreciation, Depletion and Amortization(DDA) was JMD1,086 Mil.
Selling, General, & Admin. Expense(SGA) was JMD11,668 Mil.
Total Current Liabilities was JMD7,150 Mil.
Long-Term Debt & Capital Lease Obligation was JMD2,611 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) |
| = | (5686.935 / 56135.127) | / | (5841.66 / 51615.408) |
| = | 0.101308 | / | 0.113177 |
| | = | 0.8951 |
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) |
| = | (17534.016 / 51615.408) | / | (19167.914 / 56135.127) |
| = | 0.339705 | / | 0.34146 |
| | = | 0.9949 |
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 - (16963.255 + 16598.848) / 36644.49) | / | (1 - (20221.513 + 9991.807) / 33746.856) |
| = | 0.084116 | / | 0.104707 |
| | = | 0.8033 |
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 |
| = | 56135.127 | / | 51615.408 |
| | = | 1.0876 |
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)) |
| = | (1086.391 / (1086.391 + 9991.807)) | / | (1430.832 / (1430.832 + 16598.848)) |
| = | 0.098066 | / | 0.07936 |
| | = | 1.2357 |
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) |
| = | (13887.617 / 56135.127) | / | (11668.118 / 51615.408) |
| = | 0.247396 | / | 0.226059 |
| | = | 1.0944 |
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) |
| = | ((1897.866 + 7091.913) / 36644.49) | / | ((2611.224 + 7149.699) / 33746.856) |
| = | 0.245324 | / | 0.289239 |
| | = | 0.8482 |
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 |
| = | (4915.627 - 0 | - | 6769.677) | / | 36644.49 |
| | = | -0.050596 |
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.
Wisynco Group has a M-score of -2.76 suggests that the company is unlikely to be a manipulator.
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