YMT Co Beneish M-Score Historical Data
The historical data trend for YMT 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.
YMT Co Beneish M-Score Chart
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YMT Co Annual Data
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Trend |
Dec15 |
Dec16 |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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-2.58 |
-2.78 |
-2.52 |
-2.19 |
-2.81 |
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YMT Co Quarterly Data
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Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-2.19 |
-2.59 |
-2.79 |
-2.73 |
-2.81 |
Competitive Comparison of YMT Co's Beneish M-Score
For the Chemicals subindustry, YMT 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.
YMT Co's Beneish M-Score Distribution in the Chemicals Industry
For the Chemicals industry and Basic Materials sector, YMT Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where YMT Co's Beneish M-Score falls into.
YMT 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 YMT 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 * 0.9871 | + | 0.528 * 0.8758 | + | 0.404 * 0.3376 | + | 0.892 * 1.0771 | + | 0.115 * 1.5355 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.7888 | + | 4.679 * -0.032421 | - | 0.327 * 1.0086 |
| = | -2.81 |
* 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 ₩29,193 Mil.
Revenue was 36530.837 + 36373.57 + 34813.434 + 29512.902 = ₩137,231 Mil.
Gross Profit was 7104.91 + 7523.19 + 6813.39 + 5225.967 = ₩26,667 Mil.
Total Current Assets was ₩115,105 Mil.
Total Assets was ₩350,567 Mil.
Property, Plant and Equipment(Net PPE) was ₩222,208 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩9,336 Mil.
Selling, General, & Admin. Expense(SGA) was ₩11,111 Mil.
Total Current Liabilities was ₩79,325 Mil.
Long-Term Debt & Capital Lease Obligation was ₩53,410 Mil.
Net Income was -439.769 + 1852.265 + -4883.697 + -864.144 = ₩-4,335 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 2728.499 + 2907.745 + -3868.148 + 5262.264 = ₩7,030 Mil.
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Total Receivables was ₩27,460 Mil.
Revenue was 36231.92 + 33802.779 + 31118.904 + 26256.374 = ₩127,410 Mil.
Gross Profit was 6646.756 + 7059.206 + 3577.028 + 4400.137 = ₩21,683 Mil.
Total Current Assets was ₩91,138 Mil.
Total Assets was ₩249,909 Mil.
Property, Plant and Equipment(Net PPE) was ₩130,783 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩8,631 Mil.
Selling, General, & Admin. Expense(SGA) was ₩13,078 Mil.
Total Current Liabilities was ₩81,088 Mil.
Long-Term Debt & Capital Lease Obligation was ₩12,725 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) |
| = | (29193.368 / 137230.743) | / | (27459.711 / 127409.977) |
| = | 0.212732 | / | 0.215522 |
| | = | 0.9871 |
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) |
| = | (21683.127 / 127409.977) | / | (26667.457 / 137230.743) |
| = | 0.170184 | / | 0.194326 |
| | = | 0.8758 |
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 - (115105.129 + 222208.474) / 350566.674) | / | (1 - (91138.273 + 130782.837) / 249909.01) |
| = | 0.037805 | / | 0.111992 |
| | = | 0.3376 |
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 |
| = | 137230.743 | / | 127409.977 |
| | = | 1.0771 |
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)) |
| = | (8631.11 / (8631.11 + 130782.837)) | / | (9335.812 / (9335.812 + 222208.474)) |
| = | 0.06191 | / | 0.04032 |
| | = | 1.5355 |
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) |
| = | (11110.93 / 137230.743) | / | (13078.101 / 127409.977) |
| = | 0.080965 | / | 0.102646 |
| | = | 0.7888 |
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) |
| = | ((53409.512 + 79324.815) / 350566.674) | / | ((12724.891 + 81088.136) / 249909.01) |
| = | 0.378628 | / | 0.375389 |
| | = | 1.0086 |
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 |
| = | (-4335.345 - 0 | - | 7030.36) | / | 350566.674 |
| | = | -0.032421 |
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.
YMT Co has a M-score of -2.81 suggests that the company is unlikely to be a manipulator.
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