Davolink Beneish M-Score Historical Data
The historical data trend for Davolink'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.
Davolink Beneish M-Score Chart
|
Davolink Annual Data
|
|
Trend |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
|
- |
- |
- |
-3.47 |
-2.19 |
|
Davolink Quarterly Data
|
|
Mar20 |
Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
Sep24 |
| Beneish M-Score |
Get a 7-Day Free Trial
|
|
|
|
|
|
|
|
|
|
|
|
-2.77 |
-2.19 |
-1.12 |
-1.12 |
0.12 |
Competitive Comparison of Davolink's Beneish M-Score
For the Communication Equipment subindustry, Davolink'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.
Davolink's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Davolink's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Davolink's Beneish M-Score falls into.
Davolink 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 Davolink 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 * 1.0629 | + | 0.528 * 1.0386 | + | 0.404 * 6.9886 | + | 0.892 * 1.0777 | + | 0.115 * 1.1704 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.8948 | + | 4.679 * -0.002574 | - | 0.327 * 0.974 |
| = | 0.12 |
* 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 (Sep24) TTM: | Last Year (Sep23) TTM: |
Total Receivables was ₩14,819 Mil.
Revenue was 19771.337 + 16125.983 + 16091.916 + 21813.023 = ₩73,802 Mil.
Gross Profit was 1577.871 + 396.551 + 2480.3 + 1566.385 = ₩6,021 Mil.
Total Current Assets was ₩25,559 Mil.
Total Assets was ₩34,454 Mil.
Property, Plant and Equipment(Net PPE) was ₩3,378 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩720 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,028 Mil.
Total Current Liabilities was ₩17,341 Mil.
Long-Term Debt & Capital Lease Obligation was ₩2,335 Mil.
Net Income was -373.976 + -1690.57 + -5.281 + -157.705 = ₩-2,228 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was -3966.992 + 2161.29 + -2704.529 + 2371.399 = ₩-2,139 Mil.
|
Total Receivables was ₩12,936 Mil.
Revenue was 18562.894 + 19423.437 + 15569.784 + 14922.22 = ₩68,478 Mil.
Gross Profit was 1320.467 + 1705.095 + 1431.636 + 1345.468 = ₩5,803 Mil.
Total Current Assets was ₩34,781 Mil.
Total Assets was ₩38,599 Mil.
Property, Plant and Equipment(Net PPE) was ₩2,934 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩759 Mil.
Selling, General, & Admin. Expense(SGA) was ₩2,103 Mil.
Total Current Liabilities was ₩22,587 Mil.
Long-Term Debt & Capital Lease Obligation was ₩45 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) |
| = | (14818.604 / 73802.259) | / | (12936.26 / 68478.335) |
| = | 0.200788 | / | 0.18891 |
| | = | 1.0629 |
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) |
| = | (5802.666 / 68478.335) | / | (6021.107 / 73802.259) |
| = | 0.084737 | / | 0.081584 |
| | = | 1.0386 |
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 - (25558.95 + 3378.146) / 34453.636) | / | (1 - (34781.361 + 2933.579) / 38599.296) |
| = | 0.160115 | / | 0.022911 |
| | = | 6.9886 |
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 |
| = | 73802.259 | / | 68478.335 |
| | = | 1.0777 |
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)) |
| = | (759.467 / (759.467 + 2933.579)) | / | (720.125 / (720.125 + 3378.146)) |
| = | 0.205648 | / | 0.175714 |
| | = | 1.1704 |
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) |
| = | (2027.748 / 73802.259) | / | (2102.594 / 68478.335) |
| = | 0.027475 | / | 0.030705 |
| | = | 0.8948 |
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) |
| = | ((2335.413 + 17341.483) / 34453.636) | / | ((45.305 + 22586.604) / 38599.296) |
| = | 0.571112 | / | 0.58633 |
| | = | 0.974 |
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 |
| = | (-2227.532 - 0 | - | -2138.832) | / | 34453.636 |
| | = | -0.002574 |
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.
Davolink has a M-score of 0.12 signals that the company is likely to be a manipulator.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
XKRX:340360 has been successfully added to your