Medizen Humancare Co Beneish M-Score Historical Data
The historical data trend for Medizen Humancare 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.
Medizen Humancare Co Beneish M-Score Chart
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Medizen Humancare Co Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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|
-4.24 |
-2.86 |
-3.76 |
-2.02 |
-3.50 |
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Medizen Humancare Co Semi-Annual Data
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Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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-4.24 |
-2.86 |
-3.76 |
-2.02 |
-3.50 |
Competitive Comparison of Medizen Humancare Co's Beneish M-Score
For the Diagnostics & Research subindustry, Medizen Humancare 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.
Medizen Humancare Co's Beneish M-Score Distribution in the Medical Diagnostics & Research Industry
For the Medical Diagnostics & Research industry and Healthcare sector, Medizen Humancare Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Medizen Humancare Co's Beneish M-Score falls into.
Medizen Humancare 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 Medizen Humancare 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 * 0.9174 | + | 0.528 * 1.0079 | + | 0.404 * 0.7682 | + | 0.892 * 1.1583 | + | 0.115 * 0.8073 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.928 | + | 4.679 * -0.217976 | - | 0.327 * 0.9113 |
| = | -3.50 |
* 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 (Dec23) TTM: | Last Year (Dec22) TTM: |
Total Receivables was ₩1,804 Mil.
Revenue was ₩4,575 Mil.
Gross Profit was ₩981 Mil.
Total Current Assets was ₩3,002 Mil.
Total Assets was ₩4,239 Mil.
Property, Plant and Equipment(Net PPE) was ₩726 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩502 Mil.
Selling, General, & Admin. Expense(SGA) was ₩827 Mil.
Total Current Liabilities was ₩3,073 Mil.
Long-Term Debt & Capital Lease Obligation was ₩189 Mil.
Net Income was ₩-1,825 Mil.
Gross Profit was ₩0 Mil.
Cash Flow from Operations was ₩-901 Mil.
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Total Receivables was ₩1,698 Mil.
Revenue was ₩3,950 Mil.
Gross Profit was ₩853 Mil.
Total Current Assets was ₩3,368 Mil.
Total Assets was ₩5,272 Mil.
Property, Plant and Equipment(Net PPE) was ₩1,076 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩530 Mil.
Selling, General, & Admin. Expense(SGA) was ₩770 Mil.
Total Current Liabilities was ₩4,040 Mil.
Long-Term Debt & Capital Lease Obligation was ₩412 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) |
| = | (1803.942 / 4575.018) | / | (1697.537 / 3949.759) |
| = | 0.394303 | / | 0.429782 |
| | = | 0.9174 |
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) |
| = | (853.222 / 3949.759) | / | (980.558 / 4575.018) |
| = | 0.216019 | / | 0.214329 |
| | = | 1.0079 |
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 - (3001.522 + 726.295) / 4239.176) | / | (1 - (3367.876 + 1076.377) / 5272.047) |
| = | 0.120627 | / | 0.157016 |
| | = | 0.7682 |
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 |
| = | 4575.018 | / | 3949.759 |
| | = | 1.1583 |
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)) |
| = | (530.238 / (530.238 + 1076.377)) | / | (502.272 / (502.272 + 726.295)) |
| = | 0.330034 | / | 0.408828 |
| | = | 0.8073 |
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) |
| = | (827.31 / 4575.018) | / | (769.697 / 3949.759) |
| = | 0.180832 | / | 0.194872 |
| | = | 0.928 |
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) |
| = | ((189.411 + 3072.916) / 4239.176) | / | ((412.081 + 4040.217) / 5272.047) |
| = | 0.769566 | / | 0.84451 |
| | = | 0.9113 |
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 |
| = | (-1825.374 - 0 | - | -901.334) | / | 4239.176 |
| | = | -0.217976 |
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.
Medizen Humancare Co has a M-score of -3.50 suggests that the company is unlikely to be a manipulator.
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