Jinyoung Co Beneish M-Score Historical Data
The historical data trend for Jinyoung 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.
Jinyoung Co Beneish M-Score Chart
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Jinyoung Co Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
- |
-0.03 |
-3.20 |
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Jinyoung Co Quarterly Data
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Dec20 |
Dec21 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
Dec24 |
| Beneish M-Score |
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-0.03 |
- |
1.97 |
-1.19 |
-3.20 |
Competitive Comparison of Jinyoung Co's Beneish M-Score
For the Furnishings, Fixtures & Appliances subindustry, Jinyoung 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.
Jinyoung Co's Beneish M-Score Distribution in the Furnishings, Fixtures & Appliances Industry
For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Jinyoung Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Jinyoung Co's Beneish M-Score falls into.
Jinyoung 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 Jinyoung 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 * 0.9288 | + | 0.528 * 0.9018 | + | 0.404 * 0.5626 | + | 0.892 * 1.1074 | + | 0.115 * 1.2969 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8882 | + | 4.679 * -0.041266 | - | 0.327 * 2.1727 |
| = | -3.20 |
* 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 ₩6,506 Mil.
Revenue was 9343.095 + 7798.435 + 7999.413 + 9079.878 = ₩34,221 Mil.
Gross Profit was -141.198 + 507.958 + 458.028 + 1052.184 = ₩1,877 Mil.
Total Current Assets was ₩15,686 Mil.
Total Assets was ₩67,921 Mil.
Property, Plant and Equipment(Net PPE) was ₩50,852 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,329 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,054 Mil.
Total Current Liabilities was ₩10,696 Mil.
Long-Term Debt & Capital Lease Obligation was ₩13,297 Mil.
Net Income was -2469.068 + -597.943 + -94.126 + -34.034 = ₩-3,195 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -605.904 + 33.36 + 501.371 + -321.192 = ₩-392 Mil.
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Total Receivables was ₩6,325 Mil.
Revenue was 7839.574 + 7678.283 + 7343.049 + 8042.171 = ₩30,903 Mil.
Gross Profit was -240.607 + 375.026 + 646.159 + 748.036 = ₩1,529 Mil.
Total Current Assets was ₩15,370 Mil.
Total Assets was ₩49,155 Mil.
Property, Plant and Equipment(Net PPE) was ₩32,007 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩1,093 Mil.
Selling, General, & Admin. Expense(SGA) was ₩3,106 Mil.
Total Current Liabilities was ₩6,936 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,056 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) |
| = | (6505.641 / 34220.821) | / | (6325.293 / 30903.077) |
| = | 0.190108 | / | 0.204682 |
| | = | 0.9288 |
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) |
| = | (1528.614 / 30903.077) | / | (1876.972 / 34220.821) |
| = | 0.049465 | / | 0.054849 |
| | = | 0.9018 |
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 - (15686.093 + 50852.22) / 67920.502) | / | (1 - (15369.875 + 32007.322) / 49155.226) |
| = | 0.02035 | / | 0.036172 |
| | = | 0.5626 |
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 |
| = | 34220.821 | / | 30903.077 |
| | = | 1.1074 |
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)) |
| = | (1093.441 / (1093.441 + 32007.322)) | / | (1329.157 / (1329.157 + 50852.22)) |
| = | 0.033034 | / | 0.025472 |
| | = | 1.2969 |
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) |
| = | (3054.449 / 34220.821) | / | (3105.646 / 30903.077) |
| = | 0.089257 | / | 0.100496 |
| | = | 0.8882 |
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) |
| = | ((13296.566 + 10695.67) / 67920.502) | / | ((1055.985 + 6935.887) / 49155.226) |
| = | 0.35324 | / | 0.162584 |
| | = | 2.1727 |
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 |
| = | (-3195.171 - 0 | - | -392.365) | / | 67920.502 |
| | = | -0.041266 |
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.
Jinyoung Co has a M-score of -3.20 suggests that the company is unlikely to be a manipulator.
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