BBC Co Beneish M-Score Historical Data
The historical data trend for BBC 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.
BBC Co Beneish M-Score Chart
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BBC Co Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-1.06 |
-2.64 |
-2.22 |
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BBC Co Quarterly Data
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Sep19 |
Dec19 |
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
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-2.93 |
-2.72 |
-2.22 |
-2.91 |
-2.38 |
Competitive Comparison of BBC Co's Beneish M-Score
For the Tools & Accessories subindustry, BBC 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.
BBC Co's Beneish M-Score Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, BBC Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where BBC Co's Beneish M-Score falls into.
BBC 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 BBC 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 * 1.0793 | + | 0.528 * 0.6941 | + | 0.404 * 1.2694 | + | 0.892 * 1.3553 | + | 0.115 * 0.9655 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.8238 | + | 4.679 * 0.004815 | - | 0.327 * 1.3593 |
| = | -2.38 |
* 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 (Jun24) TTM: | Last Year (Jun23) TTM: |
Total Receivables was ₩10,002 Mil.
Revenue was 14204.815 + 16828.501 + 16650.123 + 14008.391 = ₩61,692 Mil.
Gross Profit was 6309.332 + 7613.653 + 6477.106 + 5765.392 = ₩26,165 Mil.
Total Current Assets was ₩52,500 Mil.
Total Assets was ₩93,449 Mil.
Property, Plant and Equipment(Net PPE) was ₩32,163 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,311 Mil.
Selling, General, & Admin. Expense(SGA) was ₩12,778 Mil.
Total Current Liabilities was ₩12,749 Mil.
Long-Term Debt & Capital Lease Obligation was ₩1,575 Mil.
Net Income was 1090.368 + 401.081 + 3052.923 + 1065.246 = ₩5,610 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -2203.667 + 5950.704 + 1461.72 + -49.09 = ₩5,160 Mil.
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Total Receivables was ₩6,838 Mil.
Revenue was 11223.705 + 11719.375 + 11383.416 + 11193.689 = ₩45,520 Mil.
Gross Profit was 4148.638 + 3366.734 + 2601.929 + 3283.424 = ₩13,401 Mil.
Total Current Assets was ₩45,332 Mil.
Total Assets was ₩85,073 Mil.
Property, Plant and Equipment(Net PPE) was ₩33,440 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩3,312 Mil.
Selling, General, & Admin. Expense(SGA) was ₩5,170 Mil.
Total Current Liabilities was ₩7,174 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,419 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) |
| = | (10002.025 / 61691.83) | / | (6837.758 / 45520.185) |
| = | 0.162129 | / | 0.150214 |
| | = | 1.0793 |
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) |
| = | (13400.725 / 45520.185) | / | (26165.483 / 61691.83) |
| = | 0.294391 | / | 0.424132 |
| | = | 0.6941 |
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 - (52499.515 + 32162.685) / 93448.5) | / | (1 - (45332.024 + 33440.274) / 85073.429) |
| = | 0.094023 | / | 0.074067 |
| | = | 1.2694 |
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 |
| = | 61691.83 | / | 45520.185 |
| | = | 1.3553 |
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)) |
| = | (3312.363 / (3312.363 + 33440.274)) | / | (3311.188 / (3311.188 + 32162.685)) |
| = | 0.090126 | / | 0.093342 |
| | = | 0.9655 |
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) |
| = | (12778.464 / 61691.83) | / | (5169.928 / 45520.185) |
| = | 0.207134 | / | 0.113574 |
| | = | 1.8238 |
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) |
| = | ((1575.298 + 12749.407) / 93448.5) | / | ((2419.302 + 7174.464) / 85073.429) |
| = | 0.15329 | / | 0.11277 |
| | = | 1.3593 |
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 |
| = | (5609.618 - 0 | - | 5159.667) | / | 93448.5 |
| | = | 0.004815 |
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.
BBC Co has a M-score of -2.38 suggests that the company is unlikely to be a manipulator.
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