Hannet Co Beneish M-Score Historical Data
The historical data trend for Hannet 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.
Hannet Co Beneish M-Score Chart
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Hannet 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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-2.97 |
-2.46 |
-2.49 |
-2.24 |
-3.11 |
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Hannet 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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-2.24 |
-3.02 |
-1.14 |
-2.71 |
-3.11 |
Competitive Comparison of Hannet Co's Beneish M-Score
For the Specialty Business Services subindustry, Hannet 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.
Hannet Co's Beneish M-Score Distribution in the Business Services Industry
For the Business Services industry and Industrials sector, Hannet Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Hannet Co's Beneish M-Score falls into.
Hannet 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 Hannet 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 * 0.6862 | + | 0.528 * 0.8798 | + | 0.404 * 0.8022 | + | 0.892 * 1.0403 | + | 0.115 * 1.2592 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7577 | + | 4.679 * -0.055807 | - | 0.327 * 1.131 |
| = | -3.11 |
* 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 ₩3,048 Mil.
Revenue was 7008.302 + 6627.717 + 5868.823 + 6392.826 = ₩25,898 Mil.
Gross Profit was 1796.163 + 1974.942 + 1598.5 + 1726.171 = ₩7,096 Mil.
Total Current Assets was ₩36,222 Mil.
Total Assets was ₩54,034 Mil.
Property, Plant and Equipment(Net PPE) was ₩11,185 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,739 Mil.
Selling, General, & Admin. Expense(SGA) was ₩403 Mil.
Total Current Liabilities was ₩13,841 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,655 Mil.
Net Income was 1005.009 + 1024.81 + 531.311 + 866.54 = ₩3,428 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 638.348 + 3516.034 + -1705.085 + 3993.831 = ₩6,443 Mil.
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Total Receivables was ₩4,270 Mil.
Revenue was 6154.304 + 5836.385 + 6598.266 + 6304.501 = ₩24,893 Mil.
Gross Profit was 1363.844 + 1462.798 + 1640.947 + 1533.059 = ₩6,001 Mil.
Total Current Assets was ₩33,256 Mil.
Total Assets was ₩50,178 Mil.
Property, Plant and Equipment(Net PPE) was ₩9,250 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,045 Mil.
Selling, General, & Admin. Expense(SGA) was ₩511 Mil.
Total Current Liabilities was ₩12,372 Mil.
Long-Term Debt & Capital Lease Obligation was ₩352 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) |
| = | (3048.486 / 25897.668) | / | (4270.119 / 24893.456) |
| = | 0.117713 | / | 0.171536 |
| | = | 0.6862 |
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) |
| = | (6000.648 / 24893.456) | / | (7095.776 / 25897.668) |
| = | 0.241053 | / | 0.273993 |
| | = | 0.8798 |
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 - (36221.903 + 11185.262) / 54034.085) | / | (1 - (33256.087 + 9249.945) / 50177.806) |
| = | 0.122643 | / | 0.152892 |
| | = | 0.8022 |
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 |
| = | 25897.668 | / | 24893.456 |
| | = | 1.0403 |
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)) |
| = | (3045.215 / (3045.215 + 9249.945)) | / | (2738.686 / (2738.686 + 11185.262)) |
| = | 0.247676 | / | 0.196689 |
| | = | 1.2592 |
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) |
| = | (402.851 / 25897.668) | / | (511.026 / 24893.456) |
| = | 0.015555 | / | 0.020529 |
| | = | 0.7577 |
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) |
| = | ((1655.334 + 13840.745) / 54034.085) | / | ((351.639 + 12372.278) / 50177.806) |
| = | 0.286783 | / | 0.253577 |
| | = | 1.131 |
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 |
| = | (3427.67 - 0 | - | 6443.128) | / | 54034.085 |
| | = | -0.055807 |
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.
Hannet Co has a M-score of -3.11 suggests that the company is unlikely to be a manipulator.
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