Daeduck Electronics Beneish M-Score Historical Data
The historical data trend for Daeduck Electronics'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.
Daeduck Electronics Beneish M-Score Chart
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Daeduck Electronics Annual Data
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Trend |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
-2.95 |
-2.34 |
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Daeduck Electronics Quarterly Data
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Jun20 |
Sep20 |
Dec20 |
Mar21 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
Jun24 |
| Beneish M-Score |
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-3.22 |
-2.97 |
-2.34 |
-1.99 |
-2.00 |
Competitive Comparison of Daeduck Electronics's Beneish M-Score
For the Electronic Components subindustry, Daeduck Electronics'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.
Daeduck Electronics's Beneish M-Score Distribution in the Hardware Industry
For the Hardware industry and Technology sector, Daeduck Electronics's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Daeduck Electronics's Beneish M-Score falls into.
Daeduck Electronics 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 Daeduck Electronics 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 * 1.1901 | + | 0.528 * 2.5658 | + | 0.404 * 1.4546 | + | 0.892 * 0.837 | + | 0.115 * 0.8675 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 0.9471 | + | 4.679 * -0.121486 | - | 0.327 * 0.9438 |
| = | -2.00 |
* 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 ₩138,959 Mil.
Revenue was 238238.517 + 214765.965 + 234351.659 + 237787.428 = ₩925,144 Mil.
Gross Profit was 23916.109 + 8800.01 + 19762.9 + 13669.149 = ₩66,148 Mil.
Total Current Assets was ₩445,032 Mil.
Total Assets was ₩1,110,767 Mil.
Property, Plant and Equipment(Net PPE) was ₩602,277 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩118,476 Mil.
Selling, General, & Admin. Expense(SGA) was ₩20,987 Mil.
Total Current Liabilities was ₩180,221 Mil.
Long-Term Debt & Capital Lease Obligation was ₩9,872 Mil.
Net Income was 12231.292 + 1970.835 + 6092.234 + 3765.618 = ₩24,060 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ₩0 Mil.
Cash Flow from Operations was 17803.921 + 42190.35 + 50714.893 + 48293.546 = ₩159,003 Mil.
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Total Receivables was ₩139,503 Mil.
Revenue was 219859.008 + 217653.391 + 296451.373 + 371400.871 = ₩1,105,365 Mil.
Gross Profit was 18744.693 + 22958.693 + 64987.376 + 96095.763 = ₩202,787 Mil.
Total Current Assets was ₩416,555 Mil.
Total Assets was ₩1,113,426 Mil.
Property, Plant and Equipment(Net PPE) was ₩653,142 Mil.
Depreciation, Depletion and Amortization(DDA) was ₩108,625 Mil.
Selling, General, & Admin. Expense(SGA) was ₩26,477 Mil.
Total Current Liabilities was ₩185,832 Mil.
Long-Term Debt & Capital Lease Obligation was ₩16,065 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) |
| = | (138959.224 / 925143.569) | / | (139503.435 / 1105364.643) |
| = | 0.150203 | / | 0.126206 |
| | = | 1.1901 |
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) |
| = | (202786.525 / 1105364.643) | / | (66148.168 / 925143.569) |
| = | 0.183457 | / | 0.0715 |
| | = | 2.5658 |
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 - (445032.214 + 602276.522) / 1110766.696) | / | (1 - (416554.712 + 653142.028) / 1113426.384) |
| = | 0.05713 | / | 0.039275 |
| | = | 1.4546 |
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 |
| = | 925143.569 | / | 1105364.643 |
| | = | 0.837 |
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)) |
| = | (108624.503 / (108624.503 + 653142.028)) | / | (118476.253 / (118476.253 + 602276.522)) |
| = | 0.142596 | / | 0.164378 |
| | = | 0.8675 |
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) |
| = | (20986.586 / 925143.569) | / | (26476.886 / 1105364.643) |
| = | 0.022685 | / | 0.023953 |
| | = | 0.9471 |
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) |
| = | ((9872.192 + 180221.496) / 1110766.696) | / | ((16065.102 + 185831.944) / 1113426.384) |
| = | 0.171137 | / | 0.181329 |
| | = | 0.9438 |
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 |
| = | (24059.979 - 0 | - | 159002.71) | / | 1110766.696 |
| | = | -0.121486 |
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.
Daeduck Electronics has a M-score of -2.00 suggests that the company is unlikely to be a manipulator.
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