YM Tech Co Beneish M-Score Historical Data
The historical data trend for YM Tech 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.
YM Tech Co Beneish M-Score Chart
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YM Tech Co Annual Data
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Trend |
Dec17 |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
-1.72 |
-1.85 |
-2.71 |
-2.64 |
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YM Tech Co Quarterly Data
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Dec19 |
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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-2.71 |
-2.33 |
-2.01 |
-2.91 |
-2.64 |
Competitive Comparison of YM Tech Co's Beneish M-Score
For the Electrical Equipment & Parts subindustry, YM Tech 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.
YM Tech Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, YM Tech Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where YM Tech Co's Beneish M-Score falls into.
YM Tech 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 YM Tech 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 * 1.3409 | + | 0.528 * 1.2663 | + | 0.404 * 0.9937 | + | 0.892 * 0.8862 | + | 0.115 * 1.1321 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8524 | + | 4.679 * -0.032518 | - | 0.327 * 2.2293 |
| = | -2.64 |
* 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 ₩7,559 Mil.
Revenue was 8635.184 + 7219.753 + 7748.633 + 7308.508 = ₩30,912 Mil.
Gross Profit was 2106.028 + 2089.403 + 2215.44 + 1537.913 = ₩7,949 Mil.
Total Current Assets was ₩33,468 Mil.
Total Assets was ₩58,732 Mil.
Property, Plant and Equipment(Net PPE) was ₩25,014 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,458 Mil.
Selling, General, & Admin. Expense(SGA) was ₩854 Mil.
Total Current Liabilities was ₩3,575 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 Mil.
Net Income was 1375.976 + 1027.819 + 1647.566 + 826.23 = ₩4,878 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 389.672 + 4310.972 + 1701.377 + 385.414 = ₩6,787 Mil.
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Total Receivables was ₩6,361 Mil.
Revenue was 6552.161 + 7674.823 + 10781.159 + 9872.786 = ₩34,881 Mil.
Gross Profit was 1403.61 + 2441.524 + 3747.823 + 3765.135 = ₩11,358 Mil.
Total Current Assets was ₩40,083 Mil.
Total Assets was ₩60,926 Mil.
Property, Plant and Equipment(Net PPE) was ₩20,582 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,369 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,131 Mil.
Total Current Liabilities was ₩1,664 Mil.
Long-Term Debt & Capital Lease Obligation was ₩0 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) |
| = | (7558.985 / 30912.078) | / | (6360.965 / 34880.929) |
| = | 0.244532 | / | 0.182362 |
| | = | 1.3409 |
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) |
| = | (11358.092 / 34880.929) | / | (7948.784 / 30912.078) |
| = | 0.325625 | / | 0.257142 |
| | = | 1.2663 |
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 - (33467.703 + 25014.423) / 58732.101) | / | (1 - (40082.926 + 20582.488) / 60926.353) |
| = | 0.004256 | / | 0.004283 |
| | = | 0.9937 |
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 |
| = | 30912.078 | / | 34880.929 |
| | = | 0.8862 |
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)) |
| = | (1369.2 / (1369.2 + 20582.488)) | / | (1458.466 / (1458.466 + 25014.423)) |
| = | 0.062373 | / | 0.055093 |
| | = | 1.1321 |
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) |
| = | (854.097 / 30912.078) | / | (1130.672 / 34880.929) |
| = | 0.02763 | / | 0.032415 |
| | = | 0.8524 |
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) |
| = | ((0 + 3575.096) / 58732.101) | / | ((0 + 1663.608) / 60926.353) |
| = | 0.060871 | / | 0.027305 |
| | = | 2.2293 |
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 |
| = | (4877.591 - 0 | - | 6787.435) | / | 58732.101 |
| | = | -0.032518 |
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.
YM Tech Co has a M-score of -2.64 suggests that the company is unlikely to be a manipulator.
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