Bucket Studio Co Beneish M-Score Historical Data
The historical data trend for Bucket Studio 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.
Bucket Studio Co Beneish M-Score Chart
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Bucket Studio Co Annual Data
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Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-0.25 |
-1.32 |
-2.43 |
-1.42 |
-2.18 |
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Bucket Studio Co Quarterly Data
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Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-1.90 |
-2.08 |
-2.11 |
-2.18 |
-2.51 |
Competitive Comparison of Bucket Studio Co's Beneish M-Score
For the Entertainment subindustry, Bucket Studio 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.
Bucket Studio Co's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Bucket Studio Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Bucket Studio Co's Beneish M-Score falls into.
Bucket Studio 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 Bucket Studio 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 * 1.0523 | + | 0.528 * 0.9641 | + | 0.404 * 1.1096 | + | 0.892 * 0.8099 | + | 0.115 * 0.907 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.937 | + | 4.679 * 0.009292 | - | 0.327 * 0.9391 |
| = | -2.51 |
* 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 (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ₩7,157 Mil.
Revenue was 4639.655 + 4080.924 + 4513.989 + 10211.276 = ₩23,446 Mil.
Gross Profit was 1547.288 + 1078.155 + 1518.799 + 4308.749 = ₩8,453 Mil.
Total Current Assets was ₩17,567 Mil.
Total Assets was ₩272,030 Mil.
Property, Plant and Equipment(Net PPE) was ₩3,426 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,665 Mil.
Selling, General, & Admin. Expense(SGA) was ₩6,488 Mil.
Total Current Liabilities was ₩133,082 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was -1387.611 + -9560.019 + -8328.261 + 14179.561 = ₩-5,096 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -1131.976 + -566.433 + -3116.575 + -2809.135 = ₩-7,624 Mil.
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Total Receivables was ₩8,398 Mil.
Revenue was 5030.845 + 5030.376 + 6272.081 + 12616.84 = ₩28,950 Mil.
Gross Profit was 1927.451 + 1525.951 + 1531.104 + 5078.25 = ₩10,063 Mil.
Total Current Assets was ₩42,728 Mil.
Total Assets was ₩297,872 Mil.
Property, Plant and Equipment(Net PPE) was ₩7,410 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,124 Mil.
Selling, General, & Admin. Expense(SGA) was ₩8,551 Mil.
Total Current Liabilities was ₩152,532 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,645 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) |
| = | (7156.686 / 23445.844) | / | (8397.523 / 28950.142) |
| = | 0.305243 | / | 0.290068 |
| | = | 1.0523 |
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) |
| = | (10062.756 / 28950.142) | / | (8452.991 / 23445.844) |
| = | 0.347589 | / | 0.360533 |
| | = | 0.9641 |
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 - (17567.434 + 3426.125) / 272030.096) | / | (1 - (42727.789 + 7410.457) / 297871.703) |
| = | 0.922826 | / | 0.831678 |
| | = | 1.1096 |
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 |
| = | 23445.844 | / | 28950.142 |
| | = | 0.8099 |
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)) |
| = | (3124.385 / (3124.385 + 7410.457)) | / | (1664.642 / (1664.642 + 3426.125)) |
| = | 0.296576 | / | 0.326992 |
| | = | 0.907 |
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) |
| = | (6488.44 / 23445.844) | / | (8550.569 / 28950.142) |
| = | 0.276742 | / | 0.295355 |
| | = | 0.937 |
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) |
| = | ((0 + 133081.626) / 272030.096) | / | ((2645.348 + 152532.37) / 297871.703) |
| = | 0.489217 | / | 0.520955 |
| | = | 0.9391 |
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 |
| = | (-5096.33 - 0 | - | -7624.119) | / | 272030.096 |
| | = | 0.009292 |
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.
Bucket Studio Co has a M-score of -2.51 suggests that the company is unlikely to be a manipulator.
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