HYTC Co Beneish M-Score Historical Data
The historical data trend for HYTC 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.
HYTC Co Beneish M-Score Chart
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HYTC Co Annual Data
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Trend |
Dec11 |
Dec12 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
| Beneish M-Score |
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- |
-2.92 |
-3.24 |
- |
- |
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HYTC Co Quarterly Data
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Mar21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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- |
- |
-2.44 |
-2.17 |
-2.82 |
Competitive Comparison of HYTC Co's Beneish M-Score
For the Electronic Components subindustry, HYTC 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.
HYTC Co's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, HYTC Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where HYTC Co's Beneish M-Score falls into.
HYTC 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 HYTC 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 * 0.7373 | + | 0.528 * 1.2322 | + | 0.404 * 0.6579 | + | 0.892 * 1.075 | + | 0.115 * 1.2244 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.4356 | + | 4.679 * -0.062381 | - | 0.327 * 0.9422 |
| = | -2.82 |
* 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 ₩9,140 Mil.
Revenue was 7739.184 + 11174.888 + 8845.456 + 10070.124 = ₩37,830 Mil.
Gross Profit was 1563.676 + 2724.899 + 1092.769 + 2084.884 = ₩7,466 Mil.
Total Current Assets was ₩49,979 Mil.
Total Assets was ₩71,550 Mil.
Property, Plant and Equipment(Net PPE) was ₩18,220 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,823 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,348 Mil.
Total Current Liabilities was ₩4,825 Mil.
Long-Term Debt & Capital Lease Obligation was ₩6,497 Mil.
Net Income was 944.438 + 1579.029 + 337.973 + 1060.29 = ₩3,922 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 5494.474 + -899.131 + 2986.549 + 803.214 = ₩8,385 Mil.
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Total Receivables was ₩11,532 Mil.
Revenue was 10538.071 + 9772.658 + 7256.762 + 7622.206 = ₩35,190 Mil.
Gross Profit was 3667.76 + 1744.432 + 1474.11 + 1671.821 = ₩8,558 Mil.
Total Current Assets was ₩49,092 Mil.
Total Assets was ₩69,660 Mil.
Property, Plant and Equipment(Net PPE) was ₩15,609 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,956 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,879 Mil.
Total Current Liabilities was ₩4,418 Mil.
Long-Term Debt & Capital Lease Obligation was ₩7,281 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) |
| = | (9139.847 / 37829.652) | / | (11531.974 / 35189.697) |
| = | 0.241605 | / | 0.327709 |
| | = | 0.7373 |
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) |
| = | (8558.123 / 35189.697) | / | (7466.228 / 37829.652) |
| = | 0.2432 | / | 0.197364 |
| | = | 1.2322 |
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 - (49979.049 + 18220.407) / 71550.101) | / | (1 - (49092.249 + 15609.388) / 69659.926) |
| = | 0.046829 | / | 0.071178 |
| | = | 0.6579 |
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 |
| = | 37829.652 | / | 35189.697 |
| | = | 1.075 |
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)) |
| = | (1956.066 / (1956.066 + 15609.388)) | / | (1822.951 / (1822.951 + 18220.407)) |
| = | 0.111359 | / | 0.09095 |
| | = | 1.2244 |
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) |
| = | (1348.193 / 37829.652) | / | (2879.278 / 35189.697) |
| = | 0.035639 | / | 0.081822 |
| | = | 0.4356 |
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) |
| = | ((6497.279 + 4824.517) / 71550.101) | / | ((7280.812 + 4417.527) / 69659.926) |
| = | 0.158236 | / | 0.167935 |
| | = | 0.9422 |
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 |
| = | (3921.73 - 0 | - | 8385.106) | / | 71550.101 |
| | = | -0.062381 |
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.
HYTC Co has a M-score of -2.82 suggests that the company is unlikely to be a manipulator.
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