Can-One Bhd Beneish M-Score Historical Data
The historical data trend for Can-One Bhd'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.
Can-One Bhd Beneish M-Score Chart
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Can-One Bhd Annual Data
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Trend |
Dec14 |
Dec15 |
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Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-1.43 |
-2.42 |
-1.59 |
-2.87 |
-3.05 |
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Can-One Bhd Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
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Sep21 |
Dec21 |
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Mar23 |
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Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-2.99 |
-3.14 |
-3.03 |
-3.05 |
-3.15 |
Competitive Comparison of Can-One Bhd's Beneish M-Score
For the Packaged Foods subindustry, Can-One 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.
Can-One Bhd's Beneish M-Score Distribution in the Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Can-One Bhd's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Can-One Bhd's Beneish M-Score falls into.
Can-One 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 Can-One Bhd 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 * 1.0586 | + | 0.528 * 0.935 | + | 0.404 * 0.5356 | + | 0.892 * 0.9728 | + | 0.115 * 0.9862 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2361 | + | 4.679 * -0.090604 | - | 0.327 * 1.0395 |
| = | -3.15 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was RM587 Mil.
Revenue was 796.125 + 859.283 + 728.443 + 705.445 = RM3,089 Mil.
Gross Profit was 103.327 + 113.103 + 67.252 + 73.52 = RM357 Mil.
Total Current Assets was RM1,698 Mil.
Total Assets was RM4,431 Mil.
Property, Plant and Equipment(Net PPE) was RM2,618 Mil.
Depreciation, Depletion and Amortization(DDA) was RM181 Mil.
Selling, General, & Admin. Expense(SGA) was RM231 Mil.
Total Current Liabilities was RM1,355 Mil.
Long-Term Debt & Capital Lease Obligation was RM940 Mil.
Net Income was 25.674 + 34.719 + -23.117 + 13.743 = RM51 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was 55.673 + 249.406 + 77.35 + 70.036 = RM452 Mil.
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Total Receivables was RM570 Mil.
Revenue was 760.62 + 833.426 + 805.636 + 776.092 = RM3,176 Mil.
Gross Profit was 77.034 + 76.918 + 83.458 + 105.909 = RM343 Mil.
Total Current Assets was RM1,705 Mil.
Total Assets was RM4,170 Mil.
Property, Plant and Equipment(Net PPE) was RM2,263 Mil.
Depreciation, Depletion and Amortization(DDA) was RM154 Mil.
Selling, General, & Admin. Expense(SGA) was RM192 Mil.
Total Current Liabilities was RM1,269 Mil.
Long-Term Debt & Capital Lease Obligation was RM809 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) |
| = | (586.806 / 3089.296) | / | (569.838 / 3175.774) |
| = | 0.189948 | / | 0.179433 |
| | = | 1.0586 |
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) |
| = | (343.319 / 3175.774) | / | (357.202 / 3089.296) |
| = | 0.108106 | / | 0.115626 |
| | = | 0.935 |
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 - (1697.928 + 2617.76) / 4430.759) | / | (1 - (1705.049 + 2263.161) / 4170.444) |
| = | 0.025971 | / | 0.048492 |
| | = | 0.5356 |
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 |
| = | 3089.296 | / | 3175.774 |
| | = | 0.9728 |
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)) |
| = | (154.108 / (154.108 + 2263.161)) | / | (180.927 / (180.927 + 2617.76)) |
| = | 0.063753 | / | 0.064647 |
| | = | 0.9862 |
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) |
| = | (230.762 / 3089.296) | / | (191.911 / 3175.774) |
| = | 0.074697 | / | 0.06043 |
| | = | 1.2361 |
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) |
| = | ((939.755 + 1354.994) / 4430.759) | / | ((808.889 + 1268.97) / 4170.444) |
| = | 0.517913 | / | 0.498234 |
| | = | 1.0395 |
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 |
| = | (51.019 - 0 | - | 452.465) | / | 4430.759 |
| | = | -0.090604 |
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.
Can-One Bhd has a M-score of -3.15 suggests that the company is unlikely to be a manipulator.
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