Astro Malaysia Holdings Bhd (XKLS:6399) Beneish M-Score : -3.45 (As of May. 28, 2024)

View and export this data going back to 2012. Start your Free Trial

What is Astro Malaysia Holdings Bhd Beneish M-Score?

The zones of discrimination for M-Score is as such:

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.

Good Sign:

Beneish M-Score -3.45 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Astro Malaysia Holdings Bhd's Beneish M-Score or its related term are showing as below:

XKLS:6399' s Beneish M-Score Range Over the Past 10 Years
Min: -3.77 Med: -3.45 Max: -2.86
Current: -3.45

During the past 13 years, the highest Beneish M-Score of Astro Malaysia Holdings Bhd was -2.86. The lowest was -3.77. And the median was -3.45.

Astro Malaysia Holdings Bhd Beneish M-Score Historical Data

The historical data trend for Astro Malaysia Holdings 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.

* Premium members only.

Astro Malaysia Holdings Bhd Beneish M-Score Chart

Astro Malaysia Holdings Bhd Annual Data

Trend

Jan15

Jan16

Jan17

Jan18

Jan19

Jan20

Jan21

Jan22

Jan23

Jan24

Beneish M-Score

Get a 7-Day Free Trial

-3.77

-3.69

-3.10

-3.20

-3.45

Astro Malaysia Holdings Bhd Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Beneish M-Score	Get a 7-Day Free Trial															-3.20	-3.61	-3.31	-3.46	-3.45

Competitive Comparison of Astro Malaysia Holdings Bhd's Beneish M-Score

For the Entertainment subindustry, Astro Malaysia 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.

Astro Malaysia Holdings Bhd's Beneish M-Score Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Astro Malaysia Holdings Bhd's Beneish M-Score distribution charts can be found below:

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

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

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.9566

0.528 * 1.0442

0.404 * 0.9973

0.892 * 0.917

0.115 * 1

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.1061

4.679 * -0.184719

0.327 * 0.9912

-3.45

This Year (Jan24) TTM:

Last Year (Jan23) TTM:

Total Receivables was RM275 Mil.
Revenue was 819.923 + 828.5 + 869.8 + 891.1 = RM3,409 Mil.
Gross Profit was 249.947 + 227.6 + 253.4 + 281 = RM1,012 Mil.
Total Current Assets was RM1,464 Mil.
Total Assets was RM5,664 Mil.
Property, Plant and Equipment(Net PPE) was RM2,095 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0 Mil.
Selling, General, & Admin. Expense(SGA) was RM645 Mil.
Total Current Liabilities was RM1,258 Mil.
Long-Term Debt & Capital Lease Obligation was RM3,168 Mil.
Net Income was 44.475 + -47.1 + 23.6 + 15.9 = RM37 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = RM0 Mil.
Cash Flow from Operations was 250.82 + 280 + 277.2 + 275.1 = RM1,083 Mil.

Total Receivables was RM314 Mil.
Revenue was 949.246 + 885.4 + 921.1 + 962.1 = RM3,718 Mil.
Gross Profit was 207.981 + 277.8 + 316.3 + 350.2 = RM1,152 Mil.
Total Current Assets was RM1,339 Mil.
Total Assets was RM5,701 Mil.
Property, Plant and Equipment(Net PPE) was RM2,238 Mil.
Depreciation, Depletion and Amortization(DDA) was RM0 Mil.
Selling, General, & Admin. Expense(SGA) was RM636 Mil.
Total Current Liabilities was RM1,673 Mil.
Long-Term Debt & Capital Lease Obligation was RM2,821 Mil.

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)
	=	(275.038 / 3409.323)	/	(313.525 / 3717.846)
	=	0.080672	/	0.08433
	=	0.9566

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)
	=	(1152.281 / 3717.846)	/	(1011.947 / 3409.323)
	=	0.309932	/	0.296818
	=	1.0442

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 - (1464.117 + 2095.027) / 5663.982)	/	(1 - (1338.949 + 2237.539) / 5700.729)
	=	0.371618	/	0.372626
	=	0.9973

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
	=	3409.323	/	3717.846
	=	0.917

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 + 2237.539))	/	(0 / (0 + 2095.027))
	=	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)
	=	(644.929 / 3409.323)	/	(635.857 / 3717.846)
	=	0.189166	/	0.171028
	=	1.1061

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)
	=	((3168.178 + 1257.757) / 5663.982)	/	((2821.156 + 1672.997) / 5700.729)
	=	0.781418	/	0.788347
	=	0.9912

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
	=	(36.875 - 0	-	1083.12)	/	5663.982
	=	-0.184719

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.

Astro Malaysia Holdings Bhd has a M-score of -3.45 suggests that the company is unlikely to be a manipulator.

Astro Malaysia Holdings Bhd Beneish M-Score Related Terms

Thank you for viewing the detailed overview of Astro Malaysia Holdings Bhd's Beneish M-Score provided by GuruFocus.com. Please click on the following links to see related term pages.

Astro Malaysia Holdings Bhd (XKLS:6399) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Astro Malaysia Holdings Bhd (XKLS:6399) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

Lebuhraya Puchong-Sungai Besi, Technology Park Malaysia, All Asia Broadcast Centre, Bukit Jalil, Kuala Lumpur, SGR, MYS, 57000

Website

https://corporate.astro.com.my

Astro Malaysia Holdings Bhd is an entertainment holding company operating in the diversified media industry. The company's business segments include Television, Radio, Home-shopping, and others. The Television segment provides content, creation, and aggregation of media. Additionally, it provides magazine publication and distribution. The radio segment provides radio broadcasting services to customers. The company generates the majority of its revenue in Malaysia.

Astro Malaysia Holdings Bhd (XKLS:6399) Headlines

No Headlines