Automobile & PCB Beneish M-Score Historical Data
The historical data trend for Automobile & PCB'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.
Automobile & PCB Beneish M-Score Chart
|
Automobile & PCB Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
0.86 |
-4.31 |
-3.02 |
-0.71 |
-4.05 |
|
Automobile & PCB Quarterly Data
|
|
Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-0.71 |
-4.85 |
-4.49 |
-4.76 |
-4.05 |
Competitive Comparison of Automobile & PCB's Beneish M-Score
For the Electronic Components subindustry, Automobile & PCB'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.
Automobile & PCB's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Automobile & PCB's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Automobile & PCB's Beneish M-Score falls into.
Automobile & PCB 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 Automobile & PCB 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 * 0.5944 | + | 0.528 * -0.3777 | + | 0.404 * 1.1182 | + | 0.892 * 1.3113 | + | 0.115 * 1.1033 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.4338 | + | 4.679 * -0.163233 | - | 0.327 * 0.8998 |
| = | -4.05 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was ₩16,594 Mil.
Revenue was 27931.833 + 35576.83 + 38179.532 + 39217.828 = ₩140,906 Mil.
Gross Profit was 1783.481 + 2001.196 + 2212.042 + 3844.573 = ₩9,841 Mil.
Total Current Assets was ₩38,092 Mil.
Total Assets was ₩95,035 Mil.
Property, Plant and Equipment(Net PPE) was ₩23,426 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩4,101 Mil.
Selling, General, & Admin. Expense(SGA) was ₩4,948 Mil.
Total Current Liabilities was ₩57,363 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,828 Mil.
Net Income was 561.02 + -1905.131 + -6815.778 + -1634.263 = ₩-9,794 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 1709.772 + 3301.127 + 2299.652 + -1591.775 = ₩5,719 Mil.
|
Total Receivables was ₩21,289 Mil.
Revenue was 36448.119 + 30451.869 + 20836.191 + 19722.599 = ₩107,459 Mil.
Gross Profit was 1111.929 + -59.327 + -1766.756 + -2120.932 = ₩-2,835 Mil.
Total Current Assets was ₩47,611 Mil.
Total Assets was ₩106,799 Mil.
Property, Plant and Equipment(Net PPE) was ₩25,504 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩5,016 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,632 Mil.
Total Current Liabilities was ₩57,564 Mil.
Long-Term Debt & Capital Lease Obligation was ₩16,357 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) |
| = | (16593.985 / 140906.023) | / | (21288.825 / 107458.778) |
| = | 0.117766 | / | 0.198112 |
| | = | 0.5944 |
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) |
| = | (-2835.086 / 107458.778) | / | (9841.292 / 140906.023) |
| = | -0.026383 | / | 0.069843 |
| | = | -0.3777 |
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 - (38092.307 + 23425.808) / 95035.399) | / | (1 - (47611.035 + 25504.028) / 106799.19) |
| = | 0.352682 | / | 0.315397 |
| | = | 1.1182 |
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 |
| = | 140906.023 | / | 107458.778 |
| | = | 1.3113 |
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)) |
| = | (5016.191 / (5016.191 + 25504.028)) | / | (4100.71 / (4100.71 + 23425.808)) |
| = | 0.164356 | / | 0.148973 |
| | = | 1.1033 |
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) |
| = | (4947.771 / 140906.023) | / | (2631.643 / 107458.778) |
| = | 0.035114 | / | 0.02449 |
| | = | 1.4338 |
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) |
| = | ((1828.302 + 57362.551) / 95035.399) | / | ((16357.469 + 57564.19) / 106799.19) |
| = | 0.62283 | / | 0.692156 |
| | = | 0.8998 |
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 |
| = | (-9794.152 - 0 | - | 5718.776) | / | 95035.399 |
| | = | -0.163233 |
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.
Automobile & PCB has a M-score of -4.05 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:015260 has been successfully added to your