Mobiis Co Beneish M-Score Historical Data
The historical data trend for Mobiis 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.
Mobiis Co Beneish M-Score Chart
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Mobiis Co Annual Data
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Trend |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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1.09 |
-3.39 |
-2.66 |
-2.01 |
-1.76 |
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Mobiis Co Quarterly Data
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Mar19 |
Jun19 |
Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
| Beneish M-Score |
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-2.01 |
-2.06 |
-1.81 |
-2.16 |
-1.76 |
Competitive Comparison of Mobiis Co's Beneish M-Score
For the Information Technology Services subindustry, Mobiis 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.
Mobiis Co's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Mobiis Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Mobiis Co's Beneish M-Score falls into.
Mobiis 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 Mobiis 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 * 1.0342 | + | 0.528 * 1.3035 | + | 0.404 * 1.4373 | + | 0.892 * 0.9704 | + | 0.115 * 0.9025 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.2862 | + | 4.679 * 0.075261 | - | 0.327 * 0.7251 |
| = | -1.76 |
* 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 ₩5,953 Mil.
Revenue was 4353.867 + 4053.496 + 4890.226 + 5784.801 = ₩19,082 Mil.
Gross Profit was 315.301 + 860.454 + 1577.53 + 956.186 = ₩3,709 Mil.
Total Current Assets was ₩33,115 Mil.
Total Assets was ₩58,661 Mil.
Property, Plant and Equipment(Net PPE) was ₩5,279 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩2,227 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,965 Mil.
Total Current Liabilities was ₩15,770 Mil.
Long-Term Debt & Capital Lease Obligation was ₩199 Mil.
Net Income was 509.982 + -1107.654 + 1224.782 + -1011.891 = ₩-385 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -3641.559 + -685.398 + 242.011 + -714.699 = ₩-4,800 Mil.
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Total Receivables was ₩5,932 Mil.
Revenue was 5333.18 + 5265.004 + 5185.582 + 3881.337 = ₩19,665 Mil.
Gross Profit was 1051.466 + 1418.491 + 1399.884 + 1113.174 = ₩4,983 Mil.
Total Current Assets was ₩53,422 Mil.
Total Assets was ₩77,278 Mil.
Property, Plant and Equipment(Net PPE) was ₩5,280 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,931 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,574 Mil.
Total Current Liabilities was ₩28,711 Mil.
Long-Term Debt & Capital Lease Obligation was ₩304 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) |
| = | (5953.432 / 19082.39) | / | (5932.435 / 19665.103) |
| = | 0.311986 | / | 0.301673 |
| | = | 1.0342 |
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) |
| = | (4983.015 / 19665.103) | / | (3709.471 / 19082.39) |
| = | 0.253394 | / | 0.194392 |
| | = | 1.3035 |
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 - (33115.349 + 5278.801) / 58660.741) | / | (1 - (53421.517 + 5280.35) / 77277.818) |
| = | 0.345488 | / | 0.240379 |
| | = | 1.4373 |
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 |
| = | 19082.39 | / | 19665.103 |
| | = | 0.9704 |
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)) |
| = | (1930.848 / (1930.848 + 5280.35)) | / | (2226.665 / (2226.665 + 5278.801)) |
| = | 0.267757 | / | 0.296672 |
| | = | 0.9025 |
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) |
| = | (1964.983 / 19082.39) | / | (1574.357 / 19665.103) |
| = | 0.102974 | / | 0.080058 |
| | = | 1.2862 |
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) |
| = | ((199.457 + 15770.39) / 58660.741) | / | ((304.304 + 28711.267) / 77277.818) |
| = | 0.272241 | / | 0.375471 |
| | = | 0.7251 |
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 |
| = | (-384.781 - 0 | - | -4799.645) | / | 58660.741 |
| | = | 0.075261 |
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.
Mobiis Co has a M-score of -1.76 signals that the company is likely to be a manipulator.
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