Paradise Co Beneish M-Score Historical Data
The historical data trend for Paradise 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.
Paradise Co Beneish M-Score Chart
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Paradise 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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-5.31 |
53.16 |
-2.23 |
-2.68 |
-2.43 |
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Paradise 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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-2.68 |
-2.29 |
-1.96 |
-2.51 |
-2.43 |
Competitive Comparison of Paradise Co's Beneish M-Score
For the Resorts & Casinos subindustry, Paradise 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.
Paradise Co's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Paradise Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Paradise Co's Beneish M-Score falls into.
Paradise 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 Paradise 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 * 1.0292 | + | 0.528 * 1.0597 | + | 0.404 * 1.0282 | + | 0.892 * 1.0784 | + | 0.115 * 1.1771 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.0092 | + | 4.679 * -0.030601 | - | 0.327 * 0.8939 |
| = | -2.43 |
* 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 ₩35,065 Mil.
Revenue was 265829.501 + 268244.966 + 273264.222 + 264770.276 = ₩1,072,109 Mil.
Gross Profit was 43592.009 + 59806.964 + 66006.215 + 68673.068 = ₩238,078 Mil.
Total Current Assets was ₩863,960 Mil.
Total Assets was ₩3,933,768 Mil.
Property, Plant and Equipment(Net PPE) was ₩2,679,899 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩78,113 Mil.
Selling, General, & Admin. Expense(SGA) was ₩44,178 Mil.
Total Current Liabilities was ₩668,182 Mil.
Long-Term Debt & Capital Lease Obligation was ₩885,925 Mil.
Net Income was 25245.025 + 9820.85 + 14549.098 + 25938.516 = ₩75,553 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 63279.048 + 7845.209 + 74737.924 + 50067.98 = ₩195,930 Mil.
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Total Receivables was ₩31,595 Mil.
Revenue was 241813.236 + 285582.04 + 275285.23 + 191518.608 = ₩994,199 Mil.
Gross Profit was 33236.649 + 79228.318 + 86017.345 + 35472.588 = ₩233,955 Mil.
Total Current Assets was ₩862,802 Mil.
Total Assets was ₩3,618,279 Mil.
Property, Plant and Equipment(Net PPE) was ₩2,406,661 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩82,998 Mil.
Selling, General, & Admin. Expense(SGA) was ₩40,593 Mil.
Total Current Liabilities was ₩690,670 Mil.
Long-Term Debt & Capital Lease Obligation was ₩908,456 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) |
| = | (35065.057 / 1072108.965) | / | (31595.376 / 994199.114) |
| = | 0.032707 | / | 0.03178 |
| | = | 1.0292 |
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) |
| = | (233954.9 / 994199.114) | / | (238078.256 / 1072108.965) |
| = | 0.23532 | / | 0.222065 |
| | = | 1.0597 |
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 - (863960.044 + 2679898.71) / 3933768.381) | / | (1 - (862802.346 + 2406660.629) / 3618279.367) |
| = | 0.099119 | / | 0.096404 |
| | = | 1.0282 |
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 |
| = | 1072108.965 | / | 994199.114 |
| | = | 1.0784 |
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)) |
| = | (82997.827 / (82997.827 + 2406660.629)) | / | (78112.847 / (78112.847 + 2679898.71)) |
| = | 0.033337 | / | 0.028322 |
| | = | 1.1771 |
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) |
| = | (44177.55 / 1072108.965) | / | (40593.205 / 994199.114) |
| = | 0.041206 | / | 0.04083 |
| | = | 1.0092 |
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) |
| = | ((885924.572 + 668181.62) / 3933768.381) | / | ((908455.901 + 690669.675) / 3618279.367) |
| = | 0.395068 | / | 0.441957 |
| | = | 0.8939 |
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 |
| = | (75553.489 - 0 | - | 195930.161) | / | 3933768.381 |
| | = | -0.030601 |
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.
Paradise Co has a M-score of -2.43 suggests that the company is unlikely to be a manipulator.
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