Johan Holdings Bhd (XKLS:3441) Beneish M-Score : -3.41 (As of May. 05, 2024)

Johan Holdings Bhd Beneish M-Score Chart

Johan Holdings Bhd Annual Data
	Trend	Jan14	Jan15	Jan16	Jan17	Jan18	Jan19	Jan20	Jul21	Jul22	Jul23
Beneish M-Score		Get a 7-Day Free Trial					-2.94	2.31	-	-5.09	-5.15

Johan Holdings Bhd Quarterly Data
	Oct18	Jan19	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Apr21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Beneish M-Score	Get a 7-Day Free Trial															-4.98	-5.63	-5.15	-5.05	-3.41

Competitive Comparison of Johan Holdings Bhd's Beneish M-Score

For the Building Materials subindustry, Johan Holdings Bhd'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.

Johan Holdings Bhd's Beneish M-Score Distribution in the Building Materials Industry

For the Building Materials industry and Basic Materials sector, Johan Holdings Bhd's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Johan Holdings Bhd's Beneish M-Score falls into.

Johan Holdings Bhd 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 Johan Holdings Bhd for today is based on a combination of the following eight different indices:

* 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.

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.

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.

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.

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.

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.

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.

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

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

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.

Johan Holdings Bhd has a M-score of -3.41 suggests that the company is unlikely to be a manipulator.

Johan Holdings Bhd Beneish M-Score Related Terms

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Johan Holdings Bhd (XKLS:3441) Business Description