Curable Beneish M-Score Historical Data
The historical data trend for Curable'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.
Curable Beneish M-Score Chart
|
Curable Annual Data
|
|
Trend |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
-4.29 |
|
Curable Semi-Annual Data
|
|
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
- |
- |
-4.29 |
Competitive Comparison of Curable's Beneish M-Score
For the Diagnostics & Research subindustry, Curable'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.
Curable's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Curable's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Curable's Beneish M-Score falls into.
Curable 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 Curable 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 * 0.2254 | + | 0.528 * -0.0122 | + | 0.404 * 2.5823 | + | 0.892 * 0.5465 | + | 0.115 * 0.364 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.7357 | + | 4.679 * -0.101792 | - | 0.327 * 1.3627 |
| = | -4.29 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was ₩835.1 Mil.
Revenue was ₩211.7 Mil.
Gross Profit was ₩128.0 Mil.
Total Current Assets was ₩3,363.6 Mil.
Total Assets was ₩24,905.4 Mil.
Property, Plant and Equipment(Net PPE) was ₩8,476.6 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,564.6 Mil.
Selling, General, & Admin. Expense(SGA) was ₩550.7 Mil.
Total Current Liabilities was ₩9,505.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₩3,465.8 Mil.
Net Income was ₩-7,809.9 Mil.
Gross Profit was ₩0.0 Mil.
Cash Flow from Operations was ₩-5,274.8 Mil.
|
Total Receivables was ₩6,777.4 Mil.
Revenue was ₩387.4 Mil.
Gross Profit was ₩-2.9 Mil.
Total Current Assets was ₩11,688.6 Mil.
Total Assets was ₩26,407.7 Mil.
Property, Plant and Equipment(Net PPE) was ₩9,354.5 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩562.5 Mil.
Selling, General, & Admin. Expense(SGA) was ₩580.6 Mil.
Total Current Liabilities was ₩6,710.9 Mil.
Long-Term Debt & Capital Lease Obligation was ₩3,382.2 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) |
| = | (835.051 / 211.7) | / | (6777.443 / 387.367) |
| = | 3.944502 | / | 17.496181 |
| | = | 0.2254 |
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) |
| = | (-2.861 / 387.367) | / | (128.003 / 211.7) |
| = | -0.007386 | / | 0.604643 |
| | = | -0.0122 |
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 - (3363.592 + 8476.581) / 24905.358) | / | (1 - (11688.573 + 9354.516) / 26407.727) |
| = | 0.524593 | / | 0.203147 |
| | = | 2.5823 |
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 |
| = | 211.7 | / | 387.367 |
| | = | 0.5465 |
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)) |
| = | (562.544 / (562.544 + 9354.516)) | / | (1564.608 / (1564.608 + 8476.581)) |
| = | 0.056725 | / | 0.155819 |
| | = | 0.364 |
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) |
| = | (550.747 / 211.7) | / | (580.599 / 387.367) |
| = | 2.601545 | / | 1.498834 |
| | = | 1.7357 |
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) |
| = | ((3465.809 + 9505.853) / 24905.358) | / | ((3382.238 + 6710.862) / 26407.727) |
| = | 0.520838 | / | 0.382203 |
| | = | 1.3627 |
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 |
| = | (-7809.93 - 0 | - | -5274.757) | / | 24905.358 |
| | = | -0.101792 |
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.
Curable has a M-score of -4.29 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:086460 has been successfully added to your