KB Autosys Co Beneish M-Score Historical Data
The historical data trend for KB Autosys Co'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.
KB Autosys Co Beneish M-Score Chart
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KB Autosys Co Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.15 |
-1.51 |
-2.52 |
-2.54 |
-2.60 |
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KB Autosys Co Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.54 |
-2.45 |
-2.86 |
-2.87 |
-2.60 |
Competitive Comparison of KB Autosys Co's Beneish M-Score
For the Auto Parts subindustry, KB Autosys Co'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.
KB Autosys Co's Beneish M-Score Distribution in the Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, KB Autosys Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where KB Autosys Co's Beneish M-Score falls into.
KB Autosys Co 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 KB Autosys Co 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 * 1.0201 | + | 0.528 * 0.9468 | + | 0.404 * 0.8813 | + | 0.892 * 1.0319 | + | 0.115 * 0.9874 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9884 | + | 4.679 * -0.021416 | - | 0.327 * 0.982 |
| = | -2.60 |
* 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 ₩38,280 Mil.
Revenue was 52441.93 + 53383.318 + 56529.408 + 47875.905 = ₩210,231 Mil.
Gross Profit was 5644.696 + 4614.296 + 5882.013 + 1936.75 = ₩18,078 Mil.
Total Current Assets was ₩106,999 Mil.
Total Assets was ₩240,702 Mil.
Property, Plant and Equipment(Net PPE) was ₩126,830 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩10,198 Mil.
Selling, General, & Admin. Expense(SGA) was ₩4,860 Mil.
Total Current Liabilities was ₩88,778 Mil.
Long-Term Debt & Capital Lease Obligation was ₩30,265 Mil.
Net Income was 3107.688 + -356.996 + 1340.437 + -1147.054 = ₩2,944 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 8199.564 + -6116.119 + 2038.299 + 3977.233 = ₩8,099 Mil.
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Total Receivables was ₩36,364 Mil.
Revenue was 54532.4 + 51230.106 + 54550.806 + 43412.767 = ₩203,726 Mil.
Gross Profit was 10673.81 + 2470.4 + 449.415 + 2992.951 = ₩16,587 Mil.
Total Current Assets was ₩97,472 Mil.
Total Assets was ₩224,905 Mil.
Property, Plant and Equipment(Net PPE) was ₩120,147 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩9,529 Mil.
Selling, General, & Admin. Expense(SGA) was ₩4,765 Mil.
Total Current Liabilities was ₩81,130 Mil.
Long-Term Debt & Capital Lease Obligation was ₩32,140 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) |
| = | (38279.843 / 210230.561) | / | (36364.269 / 203726.079) |
| = | 0.182085 | / | 0.178496 |
| | = | 1.0201 |
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) |
| = | (16586.576 / 203726.079) | / | (18077.755 / 210230.561) |
| = | 0.081416 | / | 0.08599 |
| | = | 0.9468 |
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 - (106999.284 + 126830.305) / 240702.31) | / | (1 - (97471.721 + 120146.756) / 224905.239) |
| = | 0.028553 | / | 0.032399 |
| | = | 0.8813 |
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 |
| = | 210230.561 | / | 203726.079 |
| | = | 1.0319 |
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)) |
| = | (9529.408 / (9529.408 + 120146.756)) | / | (10197.822 / (10197.822 + 126830.305)) |
| = | 0.073486 | / | 0.074421 |
| | = | 0.9874 |
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) |
| = | (4860.193 / 210230.561) | / | (4765.009 / 203726.079) |
| = | 0.023118 | / | 0.023389 |
| | = | 0.9884 |
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) |
| = | ((30265.078 + 88778.331) / 240702.31) | / | ((32139.614 + 81130.1) / 224905.239) |
| = | 0.494567 | / | 0.503633 |
| | = | 0.982 |
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 |
| = | (2944.075 - 0 | - | 8098.977) | / | 240702.31 |
| | = | -0.021416 |
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.
KB Autosys Co has a M-score of -2.60 suggests that the company is unlikely to be a manipulator.
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