ktis (XKRX:058860) Beneish M-Score : -2.56 (As of Dec. 13, 2024)

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What is ktis 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 -2.56 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKRX:058860' s Beneish M-Score Range Over the Past 10 Years
Min: -4.25 Med: -2.39 Max: -1.01
Current: -2.56

During the past 13 years, the highest Beneish M-Score of ktis was -1.01. The lowest was -4.25. And the median was -2.39.

ktis Beneish M-Score Historical Data

The historical data trend for ktis'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.

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ktis Beneish M-Score Chart

ktis Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-3.54

-2.13

-2.49

-1.97

-2.35

ktis Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Beneish M-Score	Get a 7-Day Free Trial															-2.37	-2.35	-2.40	-2.42	-2.56

Competitive Comparison of ktis's Beneish M-Score

For the Telecom Services subindustry, ktis'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.

ktis's Beneish M-Score Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, ktis's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where ktis's Beneish M-Score falls into.

ktis 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 ktis 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 * 0.9935

0.528 * 0.8796

0.404 * 0.922

0.892 * 1.0725

0.115 * 0.9148

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * -0.9403

4.679 * -0.078302

0.327 * 1.0017

-2.56

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was ₩73,021 Mil.
Revenue was 156153.237 + 151554.388 + 145328.229 + 160268.069 = ₩613,304 Mil.
Gross Profit was 131373.827 + 137049.691 + 118216.3 + 136538.167 = ₩523,178 Mil.
Total Current Assets was ₩130,393 Mil.
Total Assets was ₩476,263 Mil.
Property, Plant and Equipment(Net PPE) was ₩197,601 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩42,732 Mil.
Selling, General, & Admin. Expense(SGA) was ₩154,818 Mil.
Total Current Liabilities was ₩118,343 Mil.
Long-Term Debt & Capital Lease Obligation was ₩127,178 Mil.
Net Income was 3290.189 + 3164.472 + 3367.774 + 2236.882 = ₩12,059 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 15347.802 + 17445.03 + 11757.192 + 4801.669 = ₩49,352 Mil.

Total Receivables was ₩68,530 Mil.
Revenue was 145480.599 + 144491.131 + 142719.871 + 139176.381 = ₩571,868 Mil.
Gross Profit was 119127.314 + 128877.31 + 116765.453 + 64310.158 = ₩429,080 Mil.
Total Current Assets was ₩126,143 Mil.
Total Assets was ₩449,104 Mil.
Property, Plant and Equipment(Net PPE) was ₩171,322 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩33,278 Mil.
Selling, General, & Admin. Expense(SGA) was ₩-153,526 Mil.
Total Current Liabilities was ₩119,711 Mil.
Long-Term Debt & Capital Lease Obligation was ₩111,424 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)
	=	(73021.254 / 613303.923)	/	(68530.471 / 571867.982)
	=	0.119062	/	0.119836
	=	0.9935

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)
	=	(429080.235 / 571867.982)	/	(523177.985 / 613303.923)
	=	0.750313	/	0.853048
	=	0.8796

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 - (130392.81 + 197601.026) / 476262.879)	/	(1 - (126143.389 + 171321.54) / 449104.194)
	=	0.311318	/	0.337648
	=	0.922

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
	=	613303.923	/	571867.982
	=	1.0725

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))
	=	(33277.874 / (33277.874 + 171321.54))	/	(42732.066 / (42732.066 + 197601.026))
	=	0.162649	/	0.177804
	=	0.9148

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)
	=	(154818.051 / 613303.923)	/	(-153525.729 / 571867.982)
	=	0.252433	/	-0.268464
	=	-0.9403

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)
	=	((127178.104 + 118343.375) / 476262.879)	/	((111423.669 + 119710.621) / 449104.194)
	=	0.515517	/	0.514656
	=	1.0017

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
	=	(12059.317 - 0	-	49351.693)	/	476262.879
	=	-0.078302

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.

ktis has a M-score of -2.56 suggests that the company is unlikely to be a manipulator.

ktis Beneish M-Score Related Terms

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ktis Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » ktis Corp (XKRX:058860) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

10F KT Bldg, 28-2 Yeouido-dong, Yeongdeungpo-gu, Seoul, KOR, 150-931

Website

http://www.ktis.co.kr

ktis Corp operates in the telecom services industry in South Korea. The services offered by the company are customer services, customer contact business, number guide business, and distribution business.

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