Innovex Co Beneish M-Score Historical Data
The historical data trend for Innovex 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.
Innovex Co Beneish M-Score Chart
|
Innovex Co Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
-3.65 |
0.03 |
-2.74 |
|
Innovex Co Semi-Annual Data
|
|
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
- |
- |
-3.65 |
0.03 |
-2.74 |
Competitive Comparison of Innovex Co's Beneish M-Score
For the Advertising Agencies subindustry, Innovex 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.
Innovex Co's Beneish M-Score Distribution in the Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Innovex Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Innovex Co's Beneish M-Score falls into.
Innovex 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 Innovex 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 * 0.9232 | + | 0.528 * 1.172 | + | 0.404 * 1.1424 | + | 0.892 * 1.195 | + | 0.115 * 0.7732 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8283 | + | 4.679 * -0.090043 | - | 0.327 * 1.299 |
| = | -2.74 |
* 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 ₩6,348 Mil.
Revenue was ₩9,647 Mil.
Gross Profit was ₩1,798 Mil.
Total Current Assets was ₩7,876 Mil.
Total Assets was ₩8,755 Mil.
Property, Plant and Equipment(Net PPE) was ₩574 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩463 Mil.
Selling, General, & Admin. Expense(SGA) was ₩480 Mil.
Total Current Liabilities was ₩7,082 Mil.
Long-Term Debt & Capital Lease Obligation was ₩859 Mil.
Net Income was ₩-1,860 Mil.
Gross Profit was ₩0 Mil.
Cash Flow from Operations was ₩-1,072 Mil.
|
Total Receivables was ₩5,754 Mil.
Revenue was ₩8,073 Mil.
Gross Profit was ₩1,764 Mil.
Total Current Assets was ₩7,119 Mil.
Total Assets was ₩8,214 Mil.
Property, Plant and Equipment(Net PPE) was ₩845 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩445 Mil.
Selling, General, & Admin. Expense(SGA) was ₩485 Mil.
Total Current Liabilities was ₩4,881 Mil.
Long-Term Debt & Capital Lease Obligation was ₩855 Mil.
|
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) |
| = | (6347.556 / 9647.442) | / | (5753.688 / 8072.863) |
| = | 0.657952 | / | 0.71272 |
| | = | 0.9232 |
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) |
| = | (1763.65 / 8072.863) | / | (1798.274 / 9647.442) |
| = | 0.218466 | / | 0.186399 |
| | = | 1.172 |
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 - (7876.449 + 573.875) / 8755.152) | / | (1 - (7119.104 + 844.66) / 8214.094) |
| = | 0.034817 | / | 0.030476 |
| | = | 1.1424 |
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 |
| = | 9647.442 | / | 8072.863 |
| | = | 1.195 |
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)) |
| = | (445.321 / (445.321 + 844.66)) | / | (462.891 / (462.891 + 573.875)) |
| = | 0.345215 | / | 0.446476 |
| | = | 0.7732 |
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) |
| = | (479.639 / 9647.442) | / | (484.537 / 8072.863) |
| = | 0.049717 | / | 0.06002 |
| | = | 0.8283 |
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) |
| = | ((858.589 + 7082.143) / 8755.152) | / | ((854.586 + 4880.742) / 8214.094) |
| = | 0.906978 | / | 0.69823 |
| | = | 1.299 |
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 |
| = | (-1860.249 - 0 | - | -1071.912) | / | 8755.152 |
| | = | -0.090043 |
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.
Innovex Co has a M-score of -2.74 suggests that the company is unlikely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:279060 has been successfully added to your