Focus Hns Co Beneish M-Score Historical Data
The historical data trend for Focus Hns 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.
Focus Hns Co Beneish M-Score Chart
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Focus Hns Co Annual Data
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Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
Dec24 |
| Beneish M-Score |
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- |
- |
-2.24 |
-2.99 |
- |
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Focus Hns 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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-2.99 |
-3.65 |
-3.86 |
-2.68 |
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Competitive Comparison of Focus Hns Co's Beneish M-Score
For the Information Technology Services subindustry, Focus Hns 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.
Focus Hns Co's Beneish M-Score Distribution in the Software Industry
For the Software industry and Technology sector, Focus Hns Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Focus Hns Co's Beneish M-Score falls into.
Focus Hns 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 Focus Hns 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 * 1.1015 | + | 0.528 * 1.5228 | + | 0.404 * 1.1107 | + | 0.892 * 0.9786 | + | 0.115 * 1.0617 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.3914 | + | 4.679 * -0.156284 | - | 0.327 * 1.7595 |
| = | -3.12 |
* 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 ₩11,911 Mil.
Revenue was 17066.452 + 15779.91 + 14089.005 + 11248.452 = ₩58,184 Mil.
Gross Profit was 2029.439 + 1999.555 + 2263.98 + 1846.054 = ₩8,139 Mil.
Total Current Assets was ₩32,324 Mil.
Total Assets was ₩48,617 Mil.
Property, Plant and Equipment(Net PPE) was ₩10,914 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩782 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,340 Mil.
Total Current Liabilities was ₩26,597 Mil.
Long-Term Debt & Capital Lease Obligation was ₩5,509 Mil.
Net Income was -5845.091 + -3408.901 + -488.423 + -1273.591 = ₩-11,016 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -3330.471 + -2698.479 + 1076.852 + 1534.161 = ₩-3,418 Mil.
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Total Receivables was ₩11,050 Mil.
Revenue was 14301.261 + 13683.237 + 15043.631 + 16430.093 = ₩59,458 Mil.
Gross Profit was 3098.867 + 3093.827 + 3425.271 + 3047.333 = ₩12,665 Mil.
Total Current Assets was ₩25,243 Mil.
Total Assets was ₩36,457 Mil.
Property, Plant and Equipment(Net PPE) was ₩7,583 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩580 Mil.
Selling, General, & Admin. Expense(SGA) was ₩1,718 Mil.
Total Current Liabilities was ₩13,443 Mil.
Long-Term Debt & Capital Lease Obligation was ₩240 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) |
| = | (11910.92 / 58183.819) | / | (11050.292 / 59458.222) |
| = | 0.204712 | / | 0.18585 |
| | = | 1.1015 |
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) |
| = | (12665.298 / 59458.222) | / | (8139.028 / 58183.819) |
| = | 0.213012 | / | 0.139885 |
| | = | 1.5228 |
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 - (32324.371 + 10913.623) / 48617.107) | / | (1 - (25242.504 + 7582.686) / 36457.004) |
| = | 0.110642 | / | 0.099619 |
| | = | 1.1107 |
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 |
| = | 58183.819 | / | 59458.222 |
| | = | 0.9786 |
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)) |
| = | (579.75 / (579.75 + 7582.686)) | / | (782.434 / (782.434 + 10913.623)) |
| = | 0.071027 | / | 0.066897 |
| | = | 1.0617 |
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) |
| = | (2339.662 / 58183.819) | / | (1718.403 / 59458.222) |
| = | 0.040212 | / | 0.028901 |
| | = | 1.3914 |
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) |
| = | ((5509.314 + 26596.642) / 48617.107) | / | ((239.683 + 13443.175) / 36457.004) |
| = | 0.660384 | / | 0.375315 |
| | = | 1.7595 |
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 |
| = | (-11016.006 - 0 | - | -3417.937) | / | 48617.107 |
| | = | -0.156284 |
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.
Focus Hns Co has a M-score of -3.12 suggests that the company is unlikely to be a manipulator.
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