LDT Beneish M-Score Historical Data
The historical data trend for LDT'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.
LDT Beneish M-Score Chart
|
LDT Annual Data
|
|
Trend |
Dec14 |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
Get a 7-Day Free Trial
|
|
|
-3.65 |
-2.05 |
-1.99 |
-3.03 |
-3.19 |
|
LDT Quarterly Data
|
|
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
|
-3.70 |
-2.66 |
-3.98 |
-3.19 |
-3.98 |
Competitive Comparison of LDT's Beneish M-Score
For the Semiconductors subindustry, LDT'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.
LDT's Beneish M-Score Distribution in the Semiconductors Industry
For the Semiconductors industry and Technology sector, LDT's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where LDT's Beneish M-Score falls into.
LDT 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 LDT 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 | + | 0.528 * 1.0281 | + | 0.404 * 1.5092 | + | 0.892 * 0.9289 | + | 0.115 * 0.1728 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 3.2781 | + | 4.679 * -0.011098 | - | 0.327 * 1.6104 |
| = | -3.98 |
* 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 ₩0 Mil.
Revenue was 2277.094 + 3779.452 + 1331.589 + 2070.55 = ₩9,459 Mil.
Gross Profit was 773.29 + 1561.49 + 521.484 + 202.885 = ₩3,059 Mil.
Total Current Assets was ₩13,077 Mil.
Total Assets was ₩18,425 Mil.
Property, Plant and Equipment(Net PPE) was ₩0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩295 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,432 Mil.
Total Current Liabilities was ₩2,695 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was -123.107 + 705.996 + -217.758 + -444.832 = ₩-80 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + -71.527 + 765.49 + -569.179 = ₩125 Mil.
|
Total Receivables was ₩1,472 Mil.
Revenue was 1745.116 + 2353.491 + 2902.486 + 3181.695 = ₩10,183 Mil.
Gross Profit was 504.65 + 895.637 + 941.952 + 1043.528 = ₩3,386 Mil.
Total Current Assets was ₩11,817 Mil.
Total Assets was ₩17,075 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,974 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩412 Mil.
Selling, General, & Admin. Expense(SGA) was ₩470 Mil.
Total Current Liabilities was ₩1,551 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 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) |
| = | (0 / 9458.685) | / | (1472.43 / 10182.788) |
| = | 0 | / | 0.1446 |
| | = | 0 |
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) |
| = | (3385.767 / 10182.788) | / | (3059.149 / 9458.685) |
| = | 0.332499 | / | 0.323422 |
| | = | 1.0281 |
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 - (13077.076 + 0) / 18425.299) | / | (1 - (11816.717 + 1973.904) / 17074.59) |
| = | 0.290265 | / | 0.192331 |
| | = | 1.5092 |
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 |
| = | 9458.685 | / | 10182.788 |
| | = | 0.9289 |
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)) |
| = | (412.321 / (412.321 + 1973.904)) | / | (295.044 / (295.044 + 0)) |
| = | 0.172792 | / | 1 |
| | = | 0.1728 |
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) |
| = | (1432.411 / 9458.685) | / | (470.418 / 10182.788) |
| = | 0.151439 | / | 0.046197 |
| | = | 3.2781 |
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 + 2694.95) / 18425.299) | / | ((0 + 1550.759) / 17074.59) |
| = | 0.146264 | / | 0.090823 |
| | = | 1.6104 |
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 |
| = | (-79.701 - 0 | - | 124.784) | / | 18425.299 |
| | = | -0.011098 |
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.
LDT has a M-score of -3.98 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:096870 has been successfully added to your