IFamilySC Co Beneish M-Score Historical Data
The historical data trend for IFamilySC 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.
IFamilySC Co Beneish M-Score Chart
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IFamilySC Co Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-1.44 |
-0.93 |
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IFamilySC Co Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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-0.50 |
-1.94 |
-1.69 |
-0.93 |
-1.61 |
Competitive Comparison of IFamilySC Co's Beneish M-Score
For the Conglomerates subindustry, IFamilySC 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.
IFamilySC Co's Beneish M-Score Distribution in the Conglomerates Industry
For the Conglomerates industry and Industrials sector, IFamilySC Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where IFamilySC Co's Beneish M-Score falls into.
IFamilySC 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 IFamilySC 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 * 0.7531 | + | 0.528 * 1.0129 | + | 0.404 * 0.6108 | + | 0.892 * 1.8077 | + | 0.115 * 0.9491 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7983 | + | 4.679 * 0.105947 | - | 0.327 * 0.9824 |
| = | -1.61 |
* 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 ₩17,840 Mil.
Revenue was 57411.305 + 41961.188 + 37207.605 + 36673.101 = ₩173,253 Mil.
Gross Profit was 20495.453 + 15523.858 + 13910.934 + 13510.514 = ₩63,441 Mil.
Total Current Assets was ₩94,597 Mil.
Total Assets was ₩118,499 Mil.
Property, Plant and Equipment(Net PPE) was ₩21,921 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩582 Mil.
Selling, General, & Admin. Expense(SGA) was ₩20,650 Mil.
Total Current Liabilities was ₩31,046 Mil.
Long-Term Debt & Capital Lease Obligation was ₩10,101 Mil.
Net Income was 9712.83 + 6999.435 + 5262.236 + 4000.465 = ₩25,975 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 14747.989 + -2273.5 + -2101.45 + 3047.302 = ₩13,420 Mil.
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Total Receivables was ₩13,105 Mil.
Revenue was 32844.019 + 20161.547 + 21000.67 + 21836.405 = ₩95,843 Mil.
Gross Profit was 11399.147 + 7991.357 + 7969.382 + 8189.236 = ₩35,549 Mil.
Total Current Assets was ₩58,888 Mil.
Total Assets was ₩82,724 Mil.
Property, Plant and Equipment(Net PPE) was ₩21,572 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩542 Mil.
Selling, General, & Admin. Expense(SGA) was ₩14,310 Mil.
Total Current Liabilities was ₩19,239 Mil.
Long-Term Debt & Capital Lease Obligation was ₩10,000 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) |
| = | (17839.788 / 173253.199) | / | (13104.583 / 95842.641) |
| = | 0.102969 | / | 0.13673 |
| | = | 0.7531 |
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) |
| = | (35549.122 / 95842.641) | / | (63440.759 / 173253.199) |
| = | 0.370911 | / | 0.366174 |
| | = | 1.0129 |
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 - (94597.082 + 21920.871) / 118499.447) | / | (1 - (58887.722 + 21571.887) / 82724.237) |
| = | 0.016722 | / | 0.027376 |
| | = | 0.6108 |
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 |
| = | 173253.199 | / | 95842.641 |
| | = | 1.8077 |
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)) |
| = | (542.406 / (542.406 + 21571.887)) | / | (581.533 / (581.533 + 21920.871)) |
| = | 0.024527 | / | 0.025843 |
| | = | 0.9491 |
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) |
| = | (20650.129 / 173253.199) | / | (14309.94 / 95842.641) |
| = | 0.11919 | / | 0.149307 |
| | = | 0.7983 |
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) |
| = | ((10100.828 + 31046.254) / 118499.447) | / | ((10000 + 19238.914) / 82724.237) |
| = | 0.347234 | / | 0.35345 |
| | = | 0.9824 |
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 |
| = | (25974.966 - 0 | - | 13420.341) | / | 118499.447 |
| | = | 0.105947 |
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.
IFamilySC Co has a M-score of -1.61 signals that the company is likely to be a manipulator.
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