Vidente Co Beneish M-Score Historical Data
The historical data trend for Vidente 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.
Vidente Co Beneish M-Score Chart
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Vidente 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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-5.15 |
-2.13 |
-1.34 |
-4.10 |
-3.12 |
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Vidente 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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-3.36 |
-1.45 |
42.14 |
-3.12 |
-2.77 |
Competitive Comparison of Vidente Co's Beneish M-Score
For the Consumer Electronics subindustry, Vidente 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.
Vidente Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Vidente Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Vidente Co's Beneish M-Score falls into.
Vidente 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 Vidente 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 | + | 0.528 * 2.1181 | + | 0.404 * 1.0326 | + | 0.892 * 0.9764 | + | 0.115 * 0.1462 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3675 | + | 4.679 * 0.024335 | - | 0.327 * 0.7245 |
| = | -2.77 |
* 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 2409.568 + 2516.96 + 2239.934 + 2236.45 = ₩9,403 Mil.
Gross Profit was 691.106 + 296.25 + 907.295 + 495.043 = ₩2,390 Mil.
Total Current Assets was ₩53,042 Mil.
Total Assets was ₩667,975 Mil.
Property, Plant and Equipment(Net PPE) was ₩0 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩990 Mil.
Selling, General, & Admin. Expense(SGA) was ₩4,974 Mil.
Total Current Liabilities was ₩77,239 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was 27911.217 + -1605.722 + -12658.098 + -4097.173 = ₩9,550 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 0 + -1247.864 + -4500.167 + -956.774 = ₩-6,705 Mil.
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Total Receivables was ₩4,649 Mil.
Revenue was 3023.596 + -6946.668 + 6971.847 + 6581.237 = ₩9,630 Mil.
Gross Profit was 2124.386 + -2009.701 + 2594.563 + 2474.735 = ₩5,184 Mil.
Total Current Assets was ₩70,801 Mil.
Total Assets was ₩713,841 Mil.
Property, Plant and Equipment(Net PPE) was ₩6,632 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,136 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,725 Mil.
Total Current Liabilities was ₩113,772 Mil.
Long-Term Debt & Capital Lease Obligation was ₩164 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) |
| = | (0 / 9402.912) | / | (4649.338 / 9630.012) |
| = | 0 | / | 0.482797 |
| | = | 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) |
| = | (5183.983 / 9630.012) | / | (2389.694 / 9402.912) |
| = | 0.538315 | / | 0.254144 |
| | = | 2.1181 |
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 - (53042.044 + 0) / 667974.504) | / | (1 - (70800.637 + 6632.495) / 713841.057) |
| = | 0.920593 | / | 0.891526 |
| | = | 1.0326 |
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 |
| = | 9402.912 | / | 9630.012 |
| | = | 0.9764 |
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)) |
| = | (1135.742 / (1135.742 + 6632.495)) | / | (989.84 / (989.84 + 0)) |
| = | 0.146203 | / | 1 |
| | = | 0.1462 |
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) |
| = | (4974.004 / 9402.912) | / | (3725.179 / 9630.012) |
| = | 0.528985 | / | 0.38683 |
| | = | 1.3675 |
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 + 77238.907) / 667974.504) | / | ((163.528 + 113772.018) / 713841.057) |
| = | 0.115632 | / | 0.159609 |
| | = | 0.7245 |
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 |
| = | (9550.224 - 0 | - | -6704.805) | / | 667974.504 |
| | = | 0.024335 |
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.
Vidente Co has a M-score of -2.77 suggests that the company is unlikely to be a manipulator.
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