Knr Systems Beneish M-Score Historical Data
The historical data trend for Knr Systems'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.
Knr Systems Beneish M-Score Chart
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Knr Systems Annual Data
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Trend |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-1.54 |
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Knr Systems Quarterly Data
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Dec21 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-2.36 |
-1.54 |
Competitive Comparison of Knr Systems's Beneish M-Score
For the Specialty Industrial Machinery subindustry, Knr Systems'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.
Knr Systems's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, Knr Systems's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Knr Systems's Beneish M-Score falls into.
Knr Systems 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 Knr Systems 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 * 1.6607 | + | 0.528 * 1.2835 | + | 0.404 * 0.9723 | + | 0.892 * 0.8661 | + | 0.115 * 0.8973 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 2.2277 | + | 4.679 * 0.080397 | - | 0.327 * 0.5199 |
| = | -1.54 |
* 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 (Dec24) TTM: | Last Year (Dec23) TTM: |
Total Receivables was ₩7,368 Mil.
Revenue was 9604.832 + 2616.417 + 4427.616 + 1884.129 = ₩18,533 Mil.
Gross Profit was 1597.122 + 42.801 + 425.687 + 180.422 = ₩2,246 Mil.
Total Current Assets was ₩22,857 Mil.
Total Assets was ₩46,531 Mil.
Property, Plant and Equipment(Net PPE) was ₩16,367 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩988 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,814 Mil.
Total Current Liabilities was ₩15,025 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,870 Mil.
Net Income was -854.13 + -1927.995 + -2975.071 + -2098.913 = ₩-7,856 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -967.418 + -2056.786 + -7111.535 + -1461.319 = ₩-11,597 Mil.
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Total Receivables was ₩5,123 Mil.
Revenue was 13271.35 + 4879.056 + 1951.556 + 1297.072 = ₩21,399 Mil.
Gross Profit was 4183.548 + 49.077 + -1153.15 + 249.218 = ₩3,329 Mil.
Total Current Assets was ₩11,353 Mil.
Total Assets was ₩32,622 Mil.
Property, Plant and Equipment(Net PPE) was ₩16,001 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩862 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,459 Mil.
Total Current Liabilities was ₩21,480 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,652 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) |
| = | (7367.989 / 18532.994) | / | (5122.778 / 21399.034) |
| = | 0.397561 | / | 0.239393 |
| | = | 1.6607 |
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) |
| = | (3328.693 / 21399.034) | / | (2246.032 / 18532.994) |
| = | 0.155553 | / | 0.121191 |
| | = | 1.2835 |
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 - (22857.378 + 16366.677) / 46530.712) | / | (1 - (11352.64 + 16001.134) / 32622.226) |
| = | 0.157029 | / | 0.161499 |
| | = | 0.9723 |
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 |
| = | 18532.994 | / | 21399.034 |
| | = | 0.8661 |
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)) |
| = | (861.839 / (861.839 + 16001.134)) | / | (988.482 / (988.482 + 16366.677)) |
| = | 0.051108 | / | 0.056956 |
| | = | 0.8973 |
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) |
| = | (2814.242 / 18532.994) | / | (1458.663 / 21399.034) |
| = | 0.15185 | / | 0.068165 |
| | = | 2.2277 |
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) |
| = | ((2869.633 + 15024.639) / 46530.712) | / | ((2651.509 + 21479.694) / 32622.226) |
| = | 0.384569 | / | 0.739717 |
| | = | 0.5199 |
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 |
| = | (-7856.109 - 0 | - | -11597.058) | / | 46530.712 |
| | = | 0.080397 |
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.
Knr Systems has a M-score of -1.54 signals that the company is likely to be a manipulator.
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