Huons Global Co (XKRX:084110) Beneish M-Score : -2.59 (As of Mar. 25, 2025)

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What is Huons Global Co 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 -2.59 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

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

XKRX:084110' s Beneish M-Score Range Over the Past 10 Years
Min: -5.44 Med: -2.57 Max: 8.68
Current: -2.59

During the past 13 years, the highest Beneish M-Score of Huons Global Co was 8.68. The lowest was -5.44. And the median was -2.57.

Huons Global Co Beneish M-Score Historical Data

The historical data trend for Huons Global 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.

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Huons Global Co Beneish M-Score Chart

Huons Global Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Beneish M-Score

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-2.41

-2.93

-2.60

-3.11

-2.38

Huons Global Co 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															-2.85	-2.38	-2.54	-2.56	-2.59

Competitive Comparison of Huons Global Co's Beneish M-Score

For the Drug Manufacturers - Specialty & Generic subindustry, Huons Global 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.

Huons Global Co's Beneish M-Score Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Huons Global Co's Beneish M-Score distribution charts can be found below:

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

Huons Global 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 Huons Global Co 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 * 0.9553

0.528 * 1.0782

0.404 * 1.002

0.892 * 1.1088

0.115 * 1.1564

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0025

4.679 * -0.051601

0.327 * 0.9626

-2.59

This Year (Sep24) TTM:

Last Year (Sep23) TTM:

Total Receivables was ₩139,216 Mil.
Revenue was 199421.488 + 209650.902 + 201881.135 + 200054.601 = ₩811,008 Mil.
Gross Profit was 95378.321 + 116555.151 + 107035.633 + 103439.459 = ₩422,409 Mil.
Total Current Assets was ₩549,087 Mil.
Total Assets was ₩1,372,540 Mil.
Property, Plant and Equipment(Net PPE) was ₩548,912 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩39,707 Mil.
Selling, General, & Admin. Expense(SGA) was ₩183,308 Mil.
Total Current Liabilities was ₩297,224 Mil.
Long-Term Debt & Capital Lease Obligation was ₩88,630 Mil.
Net Income was 2632.881 + 10185.617 + 10943.508 + 12743.869 = ₩36,506 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 33504.479 + 11408.431 + 29343.107 + 33074.991 = ₩107,331 Mil.

Total Receivables was ₩131,430 Mil.
Revenue was 190616.743 + 193744.438 + 173963.879 + 173097.07 = ₩731,422 Mil.
Gross Profit was 106227.076 + 110194.797 + 97769.32 + 96555.444 = ₩410,747 Mil.
Total Current Assets was ₩605,141 Mil.
Total Assets was ₩1,272,494 Mil.
Property, Plant and Equipment(Net PPE) was ₩413,331 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩34,971 Mil.
Selling, General, & Admin. Expense(SGA) was ₩164,901 Mil.
Total Current Liabilities was ₩303,752 Mil.
Long-Term Debt & Capital Lease Obligation was ₩67,866 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)
	=	(139215.68 / 811008.126)	/	(131430.23 / 731422.13)
	=	0.171658	/	0.179691
	=	0.9553

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)
	=	(410746.637 / 731422.13)	/	(422408.564 / 811008.126)
	=	0.561573	/	0.520844
	=	1.0782

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 - (549086.725 + 548911.817) / 1372540.415)	/	(1 - (605141.091 + 413330.542) / 1272494.229)
	=	0.200025	/	0.199626
	=	1.002

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
	=	811008.126	/	731422.13
	=	1.1088

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))
	=	(34970.801 / (34970.801 + 413330.542))	/	(39707.415 / (39707.415 + 548911.817))
	=	0.078007	/	0.067459
	=	1.1564

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)
	=	(183307.581 / 811008.126)	/	(164901.088 / 731422.13)
	=	0.226024	/	0.225453
	=	1.0025

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)
	=	((88630.386 + 297223.658) / 1372540.415)	/	((67866.383 + 303752.114) / 1272494.229)
	=	0.281124	/	0.292039
	=	0.9626

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
	=	(36505.875 - 0	-	107331.008)	/	1372540.415
	=	-0.051601

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.

Huons Global Co has a M-score of -2.59 suggests that the company is unlikely to be a manipulator.

Huons Global Co Beneish M-Score Related Terms

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Huons Global Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Huons Global Co Ltd (XKRX:084110) » Definitions » Beneish M-Score

Traded in Other Exchanges

N/A

Address

901, Pangyo Innovalley C, 621, Sampyeong-dong Bundang-gu, Gyeonggi-do, KOR, 153-788

Website

http://www.huons.com

Huons Global Co Ltd is active in the healthcare sector. Its primary business includes the manufacture and sale of pharmaceutical products. The company functions through three divisions; pharmaceuticals, medical devices, and cosmetics. The pharmaceutical division represents the production of ethical drugs like the local anesthetic. The medical devices division is engaged in developing devices to aid safe preparation of platelet-poor plasma and platelet concentrate from the sample of blood. The company's suite of cosmetic products comprises of cleansers, creams, and sunscreens.

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